Help me - HDFC charges 8k finance charge for 700rs missed payment on Tata neu infinity cc.

bank give 3 days grace period

Call customer care and negotiate they can reduce or waive off depending on your relation

Immediately make the payment for the "missed amount. Speak to them over a call and explain them the situation. If it's your first ever accidental missed payment, they are likely to reverse that.

Source: Personal experience from 2016.

I missed 10k payment on icici and was charged 1100

How you hit charged 9k for 700

Only one way, beg threat and appeal.

OP,

something is missing, Below are the details from businessinsider

https://rbidocs.rbi.org.in/rdocs/notification/P... 

Check Page 11 - penalty is on outstanding amount

Nothing to worry write a mail to hdfc cc telling them you forgot to pay the bill because of some reasons, tell them to reverse the charges they'll return charges+gst also

Last month happened to me with idfc cc

Actual bill is 76500, I thought it's 74500 and paid 75k on time but for that 1500 they charged me for 4200, wrote one mail after 2weeks(22sep) charges reversed

Op same  thing I also faced i missed 1400 by mis calculating the amount i also had same 2 lakhs , for me financial charges of 5k had been levied sadly at that time there is no limit on that card again over limit fee of 750 plus gst has been levied but one thing if this is ur first time late fee then they will first tell u that they will refund u some 50%. If they said so then straight away say I will speak to nodal officer if I didn't get positive response then I will close like that then they will take request and give 100% fee amount but they won't reverse the GST

If it was a genuine spend of 2L on trusted platforms, hdfc can consider you are a genuine person, so they can either waive off or reduce the charges. If it was just rotation of money to get few chindis , then unfortunately you have to pay the full 8k. Anyways, contact the customer care and use SAAM DAAM DAND BHED strategy

Agar aap log doge nahi aise fine to hanare jaise log kaise fayda lenge..

Thats how cc business run bcz of those miss payments ..

Jitne log miss karenge utne good rwds aayenge cc me.. if everyone become smart no more rwds🤷

Cc use karte ho to.. miss mat karna.. pura cibil kharab ho jayega.. and reverse works onlyy 1st time maybe

I was charged rs. 5+gst for just paying 6 paise less.

Bhai, first of all, just call cc and politely request them to reverse... don't forget to mentioned that you actually paid almost 100% of 2 lac bill timely, but due to some calculation mistake, you missed only 700rs. And it isn't fair to charge this much heavy penalty for missing only 700rs out of 2 lac.

Its quite good probability that they'll consider and reverse the interest amount. Late fee has anyway not been charged since you paid more than min due by due date.

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But do remember that it doesn't matter if you miss 700 or 7k, all txns of whole statement are charged interest if full amount is not paid by due date. Understand it like this, assume your billing cycle is 1st to 30th of a month and u did 4 txns in Aug cycle:
1. 50000 on 1st Aug,
2. 50100 on 5th,
3. 50200 on 15th, and
4. 50300 on 20th.

Statement of 200600 generated on 30th Aug, and due date 20th Sep & min due is 10030.

Now you paid 2 lac on 18th Sep and missed 600, which you paid on 2nd Oct (deliberately keeping this date to count 11 days late payment like same in your case). In this case, you paid more than min due by due date, so no late fee will be levied, but u did not pay full due (600 short), so finance charges (interest) will be levied on ALL txns of the billing cycle, till the payment is cleared for each txn. So here is for how much days each txn will get charged:
1. 50000 -> for 48 days (count from date of txn i.e. Aug 1 to date of payment for this txn i.e. Sep 17) 
2. 50100 -> 44 days (Aug 5 to Sep 17)
3. 50200 -> 34 days (Aug 15 to Sep 17)
4. 49700 (50300 - 600 (amount that was left)) -> 29 days (Aug 20 to Sep 17)
5. 600 (remaining unpaid amount) -> 43 days (Aug 20 to Oct 2)

Take interest rate as 3.6% per month, lets assume 48 days = 1.55 month and so on, then interest for each txn will be:
1. 50000 -> 2790 (50000x(3.6/100)x48/31)
2. 50100 -> 2560
3. 50200 -> 1982
4. 49700 -> 1675
5. 600 -> 25

And guess what, this calculation is also actually a bit incorrect, because actual interest will be slightly higher.
Reason: I counted 48 days as 1.55 month directly, but that is simple interest. I did that only for sake of simplicity. In reality, banks charge you compound interest, so the sum will be a little bit higher.

Now if short payment was 700 instead of 600, it'd have hardly made any difference as that'd have affected only last 2 components of calculation. Now even if 25k was missed, still only last 2 components would have changed and total would have been 9432 instead of 9032. So remember, when you miss some part of payment, it won't be the part missed that'll cause you pain, but uske corresponding txn ke pehle ke kiye hue paap rulaayenge.

will this affect the cibil also ?

That is why I ALWAYS triple check for payment for each card. Credit card is like trap young people don't know that.

some calculation error

It can be easily mitigated by simply subtracting balance available from the total credit limit. Otherwise you can check the generated bill. It's simple as that. Why are you manually calculating things?

Seems like some rupay cc users where beneficial to bank after all.

Call the customer care immediately. They can reverse such charges as it is the first time for you. If they can’t reverse, ask them to take the request for closure of credit card. This trick usually works. Good luck!

Using this personal Checklist for tracking

Some suggestions:

1. If you have a RM(Relationship Manager if you happen to have HDFC savings too), then please contact them for assisting

2. Write to next level of customer care through HDFC portal

3. See if writing to [email protected] will help

4. If that doesn't help, write to banking Ombudsman - sometimes writing to them itself bank will try to reverse it.. 
Just my two cents. all the best my friend @KartikDD98.

.. 

This is how the banks make money.. It is always better to pay total billed instead of doing calculation. If paid extra, it can be adjusted in next transactions.

First of all immediately pay all remaining amount.. they will keep on charging you unless they will get their 700..

I have been there too -

https://www.desidime.com/discussions/icici-cc-p...

This is the story of probably every other credit card user who got too confident of their ability to manage their credit cards and did not set-up auto-pay out of the totally irrational fear that the "evil" banks will post some random charge on their credit cards and it will be auto-debited from their savings account.

I call it totally irrational because -

1. The auto-pay will happen on the due-date. You will have at least 2-4 weeks to scrutinize your statement for any random charges and dispute them or simply stop the auto-pay which is as simple as the flip of a switch. If you do not review your statements then you should not be using credit cards. God forbid if you are incapacitated due to some reason or have to attend to a family emergency / personal tragedy in those 2-4 weeks, auto-pay will save you headache later on.

2. If you pay before the due-date via some other mechanism (CRED, CheQ, Mobikwik, PayTM, Google Pay, HDFC BillPay) then auto-pay does not happen at all. Or, and this is the best part, if you make a calculation mistake like the OP and miss out on paying Rs 700 on a Rs 2L bill, then auto-pay will only pay the Rs 700. This is, of course assuming that you have set-up auto-pay to debit the entire dues (I recommend that highly) and not minimum due. Another catch here is that some of these apps (Mobikwik, HDFC BillPay, Google Pay in particular) may even take upto 5 days to post in rare cases. In that case, you will end-up paying double. Not the end of the world. Your money is still with you but as a positive balance on a CC. I have heard that RBI is planning to make banks reverse any positive balance back to the source.

3. In nearly 30 years that my family has used credit cards (starting from 1 in the early 90s to 8 today), not once there was a random charge. Everything was valid or due to our mistake/ignorance.

P.S. - As @Seinfeld correctly pointed out, the above is applicable only if you have a savings account with the same bank that issued your credit card. That would also mean keeping a minimum amount that exceeds your typical credit card expenses in each bank account.

HDFC shows how much balance left to be paid exactly and Due date in their both Net banking login and MY CARDS login.

Don't know how you missed.

Call HDFC customer tell them you forget to pay bill they will reverse the charges for the first time. I happened with me, I got the reversal but in your charges is very high so might not be easy get the full reversal.

Icici Bank also takes interest on Full Amount even if you missed single Rupee.

Bank never accepts our request because they don't have to loose the chance of looting our hard earned money.

I paid 1130 extra charges for ICICI Bank credit card due to mistake of Missing 49 Rupees less out of 30k. They looted 1130 from me.
Luckily it was Cred app Mistake and they (cred) refund me all 1130 in next month.
But my suggestion to you politely recover your money by requesting to bank. Best luck to you

.a

So, better to put a reminder to pay bill and a reminder to check whether the bill payment is successful and updated or not.