I got 2L cc bill last month out of which I mistakingly missed 700rs payment due to some calculation error, rest all amount was paid much before the due date. But hdfc has charged close to 9000 this month as 'Finance Charges'. I have Tata neu infinity cc LTF.
Please tell me if there's any way to avoid this. I've a 770+ credit score with 5+ cc and never missed any payment. 😢
Any help or suggestions would be be very helpful 🙏🏻
Finance
Credit Card
HDFC charged u less compared to OTHER banks. For me, bill amount was 2lakhs I missed around 2000 by miscalculations in ONE card and got penalized for 14k.. I tried to convince but they wer not ready to accept.
One very important thing:
Fully pay your bill for this particular credit card, along with all the unbilled amount that you spent even after the bill was generated. In short, bring your total amount due for this card to Zero atleast for 1-3 days. Otherwise, you'll be kept on a Finance Charge (revolving credit) mode. That means No free credit period for the subsequent billing cycles, unless you fully pay the bill amount generated and the unbilled amount too.
I missed sbi bill by calculation error, they charged me 150+gst, after they waived off by request. But they waived interest only till statement generation. Remaining I paid
As per new guidelines they charge penalty on overdue amount only. Serve them with legal notice....
The RBI new rule say if entire due amt is paid within 3 days grace period after due date then no extra charges, here op missed that too. If total due amt is not paid within this grace period either then interest charge on entire amt from the day of spending till that amt was paid.
Tell them to take card cancellation request if they refuse to wave off the charges... This always works.. 99% of times!!
I faced a similar issue. It was an easy fix by calling customer care and explaining what had happened.
NOTE: Most of the time, the first line of support does not have the authority to reverse such charges/levies, so If they refuse at first, ask them to escalate the matter to a senior person, they'll connect you immediately and they have the authority to reverse such charges.
Further, they will not refund the GST levied on it, but the charges will be reversed.
I have an Axis Ace bill generated for 9456.70, I paid 9456. After the due date I started receiving late payment sms, I couldn't figure out the issue. I again checked cred if the payment went through or not. Two days later I received a call from axis executive, she said I need to pay the remaining 70ps. She waited on the call and confirmed the payment. From then I always pay 1rs extra on the bill amount.
I read somewhere in the credit card statement if the due is less than 100 they do not charge interest or late fee
Bhai billing cycle nhi due date yaad rakha Karo sab card ki
There was a day when ICICI charged 1200/- when I paid just 100 less by mistake 
You can raise mail request to return the charges. But before that you have to clear the entire outstanding. I did that few months back charges cancelled and credited back to my card. But every month they don't entertain such requests.
Same thing happened to me. Paid 7k to indusind cc. Rip
happened with ICICI.. I asked them to cancel the card, so they reversed late charges... request and then last option ask them to cancel the card.. unless card is really important for you
I have a small question -
Is it possible to make multiple payments towards the CC bill before the due date?
For example - if the CC bill is 1,000 and the due date is 20th October, can I make the payment in two transactions of 500 before the due date?
Further, can the same be done if the bill has not been generated? TIA!
I always do advance payment before generation of bill. I try to generate bill zero if possible. 98% I succeeded in generating zero bill.
Banks give you money to use free of cost for 45 days, why 🤔🤔 because they want you to feel 
and they wait patiently like a hunter waits for its pray. Then one fine day you gave them that golden chance for which they were waiting for so long and voila they blow your head with hammer🤯🤯 made of intrest. Then bank and you 
1. Request politely for waiver stating bank relationship and on-time payments previously.
2. If it doesn't work, file an RBI Ombudsman complaint since this is incorrect as interest can only be charged on the outstanding amount (i.e. Rs. 700) and not on the entire amount.
2. If it doesn't work, file an RBI Ombudsman complaint since this is incorrect as interest can only be charged on the outstanding amount (i.e. Rs. 700) and not on the entire amount.
Source of this great piece of information?
RBI has norms to control MAB charges to not take the balance in -ve.
Pls send a mail to their md office and its taken on priority and resolution will be given
और you can go Rbi BO
That's how credit cards work. You signed up for it
Why do u even need to calculate it manually.. Dont they send statement on mobile and email.. That why it is necessary to cross verify last bill due before making the payment
This logic is applicable even if we miss rs 1 right? But definitely we are not charged this much on such a small amount so there has to be definitely some threshold above which they use this calculation.
Can you let us know what is the threshold
They will refund complete expect 18% GST amount that you need to pay anyhow !!!!
write a complaint mail regarding reversing the charges at customer care or nodal or ceo desk, if not done resolved in 30 days. Raise complaint to RBI portal, on 31st day, your issue will be resolved 101%.
Update - Raised request with cc which got denied and so they asked me to raise a complaint on hdfc website. I raised it two days ago and just now got the confirmation that 100% charges will get reversed except GST (around 1500).
Thanks everyone for sharing tips. I've now created auto debit for all my cards to avoid this in the future. Advising others to do the same. 🙂
its a game plan of Tata for loot customers
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.
U have no idea how credit card system works, do u? I suggest u know all bad things about cc fall into more traps.
Late penalty is on full statement amount, not on remaining amount. Banks are smart in milking money, they are modern day thieves but second to government.
Also you sure about this for all banks?
I have auto-pay set-up against the respective savings account for the following CCs / banks -
HDFC
ICICI
Kotak
Saraswat
Every month I pay the above 4 CC bills from other sources and none of the 4 banks trigger a double payment due to auto-pay.
Double payment has only happened only when I gambled by doing the payments just 2-3 days before due date using Google Pay, Mobikwik and HDFC BillPay. The payment posts either on the due-date or next day but by then auto-pay kicks in. So after a couple of gambles going wrong, I tend to do all my payment 5-7 days before due-date.
That particular feature (miss out on paying Rs 700 on a Rs 2L bill, then auto-pay will only pay the Rs 700) has been personally tested with HDFC. I haven't tested that with the others as yet but I would put the odds of that feature working with other banks as high. Do note that HDFC will scare you with SMSes stating that your account will be debited with Rs (full amount) towards bill payment but that does not actually happen. Only the pending amount will be debited.