Settlement with CITIBank Credit Card

[creditedviv]

Hi,
   back in start of 2007 i had a CITI bank Indian Oil Credit card, which i had used to make installment payments. I thought i had made payment for all the dues on my credit card and stopped using it and forgot about it. My last installment of 425 rs. was still remaining on that card, which i came to know few days ago that it has now become 15,900 with interests charged on the original 425 rs. I want to know is there any way i can settle this amount for around 1-2k and close my credit card account forever. Please provide information about how must i go about and talk to the bank regarding this.

Cheers,
Vipin

[chetan]

1. So you never received the MONTHLY BILL on your credit card for whatever period - like a year ? Why didn't you ? Have you tried asking the bank ?

2. How did you get to know of the amount due all of a sudden ?

3. There is not much you can do, except to negotiate with the BANK, but first start paying the Monthly Minimum amount due.

4. Get the CIBIL report ASAP and let us know what the bank has informed to CIBIL. Instructions on how to obtain the report is available here.
http://www.cardbhai.com/2009/08/cibil-credit-report-on-demand-available.html

[creditedviv]

Hi,

1. I moved to a different city so was not getting statements. Also did not check online coz i was under the impression that i had paid all the dues.

2. I applied for ING Vysya bank credit card, my request got rejected and some lady from CITI bank called me to tell that i have dues on my card.

3. I talked to the lady yesterday on same number who had called to inform me about my dues and she told me to pay 3000 and send the transaction number after which she will send me NIL credit letter and remove my name from CIBIL. Also i have requested for credit card statements for the period and waiting for them.

4. Should i get the CIBIL report now or wait until i pay?

Cheers,
Vipin

[cardbhai]

I applied for ING Vysya bank credit card, my request got rejected

he

You have the right to get your CIBIL report from ING [ http://www.cardbhai.com/2009/06/consumer-demand-credit-report-now.html ] by paying not more than Rs 50. So go ahead and get this as they already have it in your file at the office and they just need to photocopy and give on to you.