Your Rights As A Credit Card User


wealthymattersThe Banking Codes and Standards Board of India (BCSI) has prescribed self regulatory norms which credit card issuers have to follow while dealing with  their customers.So know your rights and insist on good service from your credit card provider.In case of need you can lodge your grievance with the Banking Ombudsman.

Here are the details of these BCSI  norms:

Information
The credit card provider is expected to give you complete details of the fees, interest charges, billing methodology, penalties, renewal and termination procedures and also provide you with a booklet giving all these details. A copy of the `Most Important Terms and Conditions’ has to be given at the time of application to the customer.

Yes or No
Once the customer has shown interest in applying or has already applied for a credit card, it is the duty of the provider to clearly state in how many days he/she will  know whether their application has been accepted or rejected. Read more of this post

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