From Rs 800 to Rs 8523 – How my yearly charges went up by 10 times in SCB credit card

POSTED BY ON October 26, 2014 2:46 pm COMMENTS (4)


I Rahul Solanki, have applied for SCB Credit card in the year 2011. I got the SCB credit card without any annual charges (Informed on phone-no proof). After using the credit card for 1 year, SCB have charged me an annual fee of Rs. 800/- (approx). which I didn’t pay, but cleared all the other payments.

I then stopped using the card. After sending some reminders, SCB has put my name in the CIBIL defaulter list. I have applied for the CIBIL Credit report and found that now my amount overdue is Rs. 8523/- (instead of Rs. 800/-). Can you please help me to overcome this problem as I need to apply for home loan. Any help would be appreciated. Thanks a lot.

4 replies on this article “From Rs 800 to Rs 8523 – How my yearly charges went up by 10 times in SCB credit card”

  1. says:

    Hi Hemanth,

    I have emailed SCB about the issue and they informed me that the outstanding dues till date is Rs. 9388.88 which needs to be paid as earliest as possible :-(.

    Because of the wrong information about the credit card that it is free of charge on Phone I have to pay a lot more amount than the annual fees. Henceforth, will take care of such things and do enough research before applying for any banking instruments.

    Anyway will follow up with SCB and try to solve the issue.

    Thanks a lot for all the information. I really appreciate your good work.

    Kind Regards
    Rahul Solanki

  2. Hemanth says:

    As you have not paid Rs.800, interest was levied @ 2-3% per month(24-36% per annum) (in general this is the range of interest for credit cards) for these years and that is the reason for your present outstanding balance…. Speak with SCB and pay the amount and get it solved, if you don’t pay now also, it will further be as a negative mark in your CIBIL report

    1. says:

      Hi Hemanth,

      Thanks a lot for the reply.

      As you have mentioned the interest was levied @2-3% p.m. (24-36% p.a.), if I calculate the total amount it comes to around Rs. 1300/- @2% p.m. and Rs. 1650/- @3% p.m. for the period from Aug 2012 to Aug 2014.
      Please rectify me if I have done some wrong calculation for interest.

      I have already send an email to SCB credit card customer care, In reply they have asked for CIBIL report and some details which also I have sent to them.

      Also it would be of great help if you let me know the things to collect from bank after I make the payment and the procedure to follow to remove my negative score from the CIBIL report.

      Kind Regards
      Rahul Solanki

      1. Hemanth says:

        Calculation is fine…. but there might be some other charges which we may not be even aware of…. Ask the bank to explain about the charges…. if you pay the balance amount, ask the bank to get an NOC(No Objection Certificate) for the same. Also, insist the bank to inform and update the status for you with CIBIL…. If possible, get an acknowledgement from bank that they have sent information to CIBIL to clear your status…..

        Also, some status like written off etc. in the CIBIL report is not a positive sign…. I am not aware of the exact status that might cause negative effect…. try not to get them…. better pay full amount and get some good status…..

        There are lot of articles written by Manish in old articles section….. search with CIBIL over there…. good number of articles are there….

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