Help !!! What is the penalty if Hdfc credit card declines payment due to insufficient balance
- 3599
- 9
-
- Last Comment
Tried to purchase a phone on Flipkart.
Payment declined due to insufficient funds.
Will I be charged any penalty ?
Thanks in advance
- Sort By
@abhinavshah wrote:
No, u won’t be charged anything.
Thanks for the info bro !
Kg
@stalwart wrote:yes , no charge.
@abhinavshah wrote:
No, u won’t be charged anything.
Thanks for the info bro !
Kg
but Dont misuse it, like missed call.
SBI card used to call for 2 such call at 2-3am too. (esp if transaction amount is same or wrong VBV),
they can block (temp) the card under fraud prevention , if call is not attended 3 times, callback does not work on such nos., and they monitor 24*7
@stalwart You are only charged for “over credit limit” if the bank approves your transaction. Since the transaction was declined by them, there won’t be any penalty/fee.
Be careful to avoid such situations not only for the obvious negative impact to your CIBIL, but also because the penalty is quite high even if you exceed the limit by a mere 10-20 bucks. It’s usually 2.5% of the amount over the credit limit subject to a minimum charge of 500.
@Alpha.Barood wrote:I wonder how they track these all transactions and call each and every person whenever transaction is repeated or vbv is entered wrong.@stalwart wrote:yes , no charge.
@abhinavshah wrote:
No, u won’t be charged anything.
Thanks for the info bro !
Kgbut Dont misuse it, like missed call.
SBI card used to call for 2 such call at 2-3am too. (esp if transaction amount is same or wrong VBV),
they can block (temp) the card under fraud prevention , if call is not attended 3 times, callback does not work on such nos., and they monitor 24*7
@kanz wrote:
@Alpha.Barood wrote:I wonder how they track these all transactions and call each and every person whenever transaction is repeated or vbv is entered wrong.@stalwart wrote:yes , no charge.
@abhinavshah wrote:
No, u won’t be charged anything.
Thanks for the info bro !
Kgbut Dont misuse it, like missed call.
SBI card used to call for 2 such call at 2-3am too. (esp if transaction amount is same or wrong VBV),
they can block (temp) the card under fraud prevention , if call is not attended 3 times, callback does not work on such nos., and they monitor 24*7
They have 24*7 control room and robust technology, agents are alerted upon 3 faults , the transaction amount may be 100-200 rs., even in online page refreshing.
However, such errors are reduced after OTP system, moreover HDFC/SBI are sending transaction decline SMS immediately on first failure too.
@DealSeeker wrote:
@stalwart You are only charged for “over credit limit” if the bank approves your transaction. Since the transaction was declined by them, there won’t be any penalty/fee.
Be careful to avoid such situations not only for the obvious negative impact to your CIBIL, but also because the penalty is quite high even if you exceed the limit by a mere 10-20 bucks. It’s usually 2.5% of the amount over the credit limit subject to a minimum charge of 500.
Yes, its no excuse for over acceptance by bank.
( if bank is giving overdrawing without specific application even than higher penalties is on customer, merely using the card over the limit is treated as your application ).
@kanz wrote:
@Alpha.Barood wrote:I wonder how they track these all transactions and call each and every person whenever transaction is repeated or vbv is entered wrong.@stalwart wrote:yes , no charge.
@abhinavshah wrote:
No, u won’t be charged anything.
Thanks for the info bro !
Kgbut Dont misuse it, like missed call.
SBI card used to call for 2 such call at 2-3am too. (esp if transaction amount is same or wrong VBV),
they can block (temp) the card under fraud prevention , if call is not attended 3 times, callback does not work on such nos., and they monitor 24*7
What do you think all they techies and support engineers in lakhs do everyday spending billions?
No, u won’t be charged anything.