Do I have to pay annual fee and its late fee wh...

Do I have to pay annual fee and its late fee when I have not even started using my sbi credit card?

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Do I have to pay annual fee and its late fee when I have not even started using my sbi credit card? confused

Please tell if anyone faced such situation or with knowledge

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Joining fee?

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arunrush680 wrote:

Joining fee?

I received card 15 days ago, since then talking to cc one level to other higher level to increase card limit
But today they deducted 499+gst while I was told that annual fee will be charged with first bill generation

Is it correct or they are forcing me to use the card with whatever limit I got, by deducting annual fee

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Dev-m wrote:

I received card 15 days ago, since then talking to cc one level to other higher level to increase card limit
But today they deducted 499+gst while I was told that annual fee will be charged with first bill generation

Is it correct or they are forcing me to use the card with whatever limit I got, by deducting annual fee

Can’t say what is their policies on fee.

But AFAIK they won’t increase the credit limit just because you are asking for it. Once the card is generated, your limit is set. You should have used it for few months and maxed it out each month and then they would have offered you the limit upgrade.

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Dev-m wrote:

I received card 15 days ago, since then talking to cc one level to other higher level to increase card limit
But today they deducted 499+gst while I was told that annual fee will be charged with first bill generation

Is it correct or they are forcing me to use the card with whatever limit I got, by deducting annual fee

Not the same for everyone but if you’ve setup the pin, they’ll initiate. Use it for a few months & then try for limit enhancement.

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Dev-m wrote:

I received card 15 days ago, since then talking to cc one level to other higher level to increase card limit
But today they deducted 499+gst while I was told that annual fee will be charged with first bill generation

Is it correct or they are forcing me to use the card with whatever limit I got, by deducting annual fee

They do charge joining fee + gst in the first statement itself and there might be some waiver option use it

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@Roushh
@arunrush680

My only concern is Rs 589 fee they deducted, I will not use this card if limit can’t be increased. i.e. I will close this.
SBI giving me only 50k limit while axis had already given me 2lakh limit on neon card. So rather I will apply for or upgrade to axis flipkart credit card than using sbi cc.

So is there anyway I could avoid this annual fee and close this sbi cc?

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SudhirG wrote:

They do charge joining fee + gst in the first statement itself and there might be some waiver option use it

yes, but first statement gets generated after first use of credit card but i have not used the card even once.

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SudhirG wrote:

They do charge joining fee + gst in the first statement itself and there might be some waiver option use it

yes, but first statement gets generated after first use of credit card but i have not used the card even once.

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U need to pay it, if you don’t pay, you will charged interest, if still not paid recovery agent will call you, if still not paid, you will be reported to cibil and other credit bureaus. Interest will keep on increasing. One fine day a goon will land up on your door step saying you have to pay lakhs of INR to sbi, he will threaten you, call your friends and family, and tell you are a defaulter, force you to pay
So it is better you pay and get rid of the card if not needed. Your limit won’t be increased now, it is system generated based on credit profile

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Dev-m wrote:

yes, but first statement gets generated after first use of credit card but i have not used the card even once.

Whether you use or not but you have to pay or else late payment fee + interest on both.. Limit will not be increased now.. Which variant card you got?

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karanoshan wrote:

U need to pay it, if you don’t pay, you will charged interest, if still not paid recovery agent will call you, if still not paid, you will be reported to cibil and other credit bureaus. Interest will keep on increasing. One fine day a goon will land up on your door step saying you have to pay lakhs of INR to sbi, he will threaten you, call your friends and family, and tell you are a defaulter, force you to pay
So it is better you pay and get rid of the card if not needed. Your limit won’t be increased now, it is system generated based on credit profile

laughing laughing laughing

Have you faced this or Are you recovery agent stuck_out_tongue

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Which card? Elite or Prime has joining fees, which they compensate with vouchers

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Customers like these are just headache..

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Simbha3 wrote:

Customers like these are just headache..

Mind your word,…………….. Sir!

At the time of application agent told me that I will get 2lakh limit. I was okay with 1lakh also but not with 50k

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Dev-m wrote:

yes, but first statement gets generated after first use of credit card but i have not used the card even once.

Doesn’t matter if you have actually started buying from it or not. If you have activated the card then it means you have started using it and the fee will start applying.

Lord of love radha and krishna by parth27 d5gnfyw %281%29
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Dev-m wrote:

Mind your word,…………….. Sir!

At the time of application agent told me that I will get 2lakh limit. I was okay with 1lakh also but not with 50k

You are being impulsive, it will not go well with credit bureau, pay the fee, start using the card and request LE ON 1 YEAR Time frame.

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AnnamalaiNryaa wrote:

You are being impulsive, it will not go well with credit bureau, pay the fee, start using the card and request LE ON 1 YEAR Time frame.

+1

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What @karanoshan mentioned is true to some extent, but if you choose to close this card without paying the fees they will screw your credit score at least.
I had similar experience with HDFC bank credit card years ago, agent said this is free credit card, but I was charged 2000 as joining fee. I complained but there was no response, so closed the credit card and paid the fees. It was a lesson to read fine print and ignore the agent.

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Dev-m wrote:

Mind your word,…………….. Sir!

At the time of application agent told me that I will get 2lakh limit. I was okay with 1lakh also but not with 50k

how I ll know what promises you got ? You Never mentioned it.. SBI agents are known for false promises you should have kept a proof… Don’t do business with SBI… Pathetic people .stay away from them.

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AnnamalaiNryaa wrote:

You are being impulsive, it will not go well with credit bureau, pay the fee, start using the card and request LE ON 1 YEAR Time frame.

Yes, you are right.
I just want to let sbi know my frustration.
I have applied for it agent called me thrice in three days before finally coming after 20-25 days I got the card. I was excited. But credit limit spoiled it.
All time & effort wasted from my busy schedule. pensive

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Dev-m wrote:

Mind your word,…………….. Sir!

At the time of application agent told me that I will get 2lakh limit. I was okay with 1lakh also but not with 50k

Application agents never decide the limit. They will tell you anything that they feel you want to listen. They are incentive based agents who make more money by submitting more and more applications.

Also, why did you activate the card if you were not going to use it?

Now, if you do not want to use it then it’s fine. Just close it but you will have to pay the fee. If you do not then it will be going in your credit history which is much more worse than losing 589 rs. But it’s your choice because it’s your credit history.

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Roushh wrote:

Application agents never decide the limit. They will tell you anything that they feel you want to listen. They are incentive based agents who make more money by submitting more and more applications.

Also, why did you activate the card if you were not going to use it?

Now, if you do not want to use it then it’s fine. Just close it but you will have to pay the fee. If you do not then it will be going in your credit history which is much more worse than losing 589 rs. But it’s your choice because it’s your credit history.

I have installed sbi cards app just to request them to increase the credit limit as I have read that sbi card app is good way to contact them.
Is registering on sbi card mean activating the card?

Yes I will pay that, why would I put credit score at stake for 589Rs.

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Dev-m wrote:

I installed sbi cards app just to request them to increase the credit limit as I have read that sbi card app is good way to contact them.
Is registering on sbi card mean activating the card?

If you have added your card it in then yes, probably.

But don’t close the card. Keep using it for a few months. They will automatically offer you limit enhancement in 6-12 months. Meanwhile you can apply for more cards if you require more credit limit. Get a entry level HDFC or SC cards, they usually are very generous with credit limits.

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Simbha3 wrote:

how I ll know what promises you got ? You Never mentioned it.. SBI agents are known for false promises you should have kept a proof… Don’t do business with SBI… Pathetic people .stay away from them.

When you don’t know how can you comment on self-assumption.

Irony
Now you are blaming SBI.

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Dev-m wrote:

When you don’t know how can you comment on self-assumption.

Irony
Now you are blaming SBI.

I never supported sbi.
Read again what you have written. Looks like you are crying just because you got lower limit.
Next time clearly state your issue.

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How easy is closing an sbi card? Do they send you a no due certificate if requested?
Anyone who has closed their card can share their experience?

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schumacher wrote:

How easy is closing an sbi card? Do they send you a no due certificate if requested?
Anyone who has closed their card can share their experience?

They don’t even try to retain if you call their cc & request to close the card. They’ll do it in seconds.

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Dev-m wrote:

Yes, you are right.
I just want to let sbi know my frustration.
I have applied for it agent called me thrice in three days before finally coming after 20-25 days I got the card. I was excited. But credit limit spoiled it.
All time & effort wasted from my busy schedule. pensive

for starters, SBI credit cards are NOT issued by SBI.
The card is a product of SBICPSL – a non-banking finance company.

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arunrush680 wrote:

They don’t even try to retain if you call their cc & request to close the card. They’ll do it in seconds.

smile smile Anti-customer bank with a lot of non-valued attitude from head to toe
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