My Painful Journey with Standard Chartered Credit Card, I have started my journey with Standard Chartered Credit Card from Dec-2013 & stopped using it on Jun-2017 due to non-customer friendly Standard Chartered service & requested to close my card on Jun 2017.During the period of usage my usage was Rs.8, 25, 785.23/-, with Zero Delay Payments.
In Jun 2017 one refund negotition of Rs.1057/- failed between me and standard chartered. I mentioned to claim the current available redemption cash back of Rs.446.86 and points 846 which will come to more valuation and asked to close my card immediately.
Now we are in Dec-2021,
My home loan got rejected stating your payment history not fair, When I checked the CIBIL I surprised to see that Standard Chartered is still marking Days Pass Due as 150 days every month till by Dec-2021 which I requested for closure on Jun 2017. I reached out Standard Chartered customer care and they responded if you waste time talking to us your CIBIL will be effected more. Go ahead and pay the amount what ever it is showing. Then to get rid of this harassments I went and paid Rs.9424.37/- which they have asked even through no mistake from my side.
After paying the amount they demanded, I requested for proper CIBIL updates as there is no mistake from myside to update all the fields as it was not the default category. But it's been 60+ days the CIBIL updates are not resolved yet DPD fields are not updated.
I just requested for closure as I didn't satisfied with service, I maintained clean chit during my complete usage period Dec-2013 to Jun-2017 with ZERO due transactions. They not even tried discussing with me what was the issue by considering the fair credit history of the customer. They shared my PAN and other personal details with third party for recovery of Rs.1057/-.They don't even have maintained parameters like if it really default case based on transaction histroy and the due amount.
Other flaws performed by Standard Chartered Bank against RBI regulations, Even if we consider something like as due pending, As per RBI regulation POST 8 months of In-Active status of account no future interest charges can be applied & Day Past Due cases is not applicable. But miss-using the leaks of CIBIL the third party which Standard Chartered handover, updating Days Past Due field for the In-Active card. For the card which is In-Active from Jun-2016 how "Days Past Due" is valid by Dec -2021? i.e. 5 years of In-Active status. As per RBI regulations before marking the card as defaulter it should make sure customer aware of it. That is notifying the customer & have acknowledgement from customer on the same. I haven't aware that my card is marked as defaulter. As per RBI regulations, Customer Care Service should be placed by trained persons. But I have struggled a lot explaining them every-time. Customer Service interaction have zero knowledge on CIBIL, responding like "CIBIL will be updated by CIBIL team not by us. Please check with CIBIL"."DPD field won't impact CREDIT worthiness". It was a disrespect of the customer time. They not considering the severity of the damage of customer and how severe it is impacting them personally. No proper escalation points maintained. To full-fill RBI regulations they maintained different mailId's like Customer Head, Customer Care, Principal Nodal officer but everything is handling by same person what I came to know after my interaction with them. Making defaulter in CIBIL is serious effect individually to the customer for his financial transactions. So Bank should take the at most.
step before making it as defaulter by checking various parameters manually to check whether it is valid case. Fair customer should not be effected on the same.I have zero history of due payments through out my usage, If they taken that minimum step then I should have not been in this situation.
Any card can just provide the credit services, but customer experience & fair items can be performed only by proper brand companies. Here al together just a valuation of rupees may be Rs.100 after 8.5 Lakh transactions they screwed my life time CIBIL. I felt pitty myself as a customer of Standard Chartered.
A common citizen will always run away from the un-fair processes slowly, they will never fight as their time itself there survival point to do their job and survival their family. But that un-fair processes itself will kill the system slowly & by the time system receive that feedback organically everything will be out of hand. But I didn't sense the customer experience will matter so much. where I personally landed myself into financial criticality on avoiding that basic customer experience choice. we will get ear pods for Rs.50 as well, but once we lost ear then we will come to know the value of brand.
I recommend corporate employee's don't take a life time financial risk of choosing Standard Chartered as they don't do anything for customers.
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