mashreq bank credit card fraud
i have been using mashreq credit card for more then a year and recently when i checked my statment i found some thing fishy in credit card of mashreq bank
i did a purchase of 8277 QR out of which i paid 6000 QR before due date and the balance was 2277 QR so for this outstanding balance with interest rate of 2.25% mashreq bank should have charged me around 52 QR but instead they charged me 130 QR when i approached the customer care service exc he could not explain me any thing about this i had a argument wt him , and finally i realised that arguing wt this man is of no use.i left there off
can any one please tell to whom should i approach to correct this mistake.
i think there may be others also who faced this problem and i request others to check there bank statement on regular basis
Ten Tips to Prevent Credit Card Fraud
1. Keep a list of your credit card numbers, expiration dates, and the phone numbers of all card issuers in a safe place.
2. Credit card issuers offer a variety of terms (annual percentage rates, methods of calculating balances subject to finance charges, minimum monthly payments, and actual membership fees). When selecting a card, compare the terms offered by several card companies to find the card that suits your needs.
3. When you use your credit card, watch your card after giving it to a clerk. Take your card back promptly after the clerk is finished and make sure the card is yours.
4. Never sign a blank receipt. Draw a line through any blank spaces above the total when you sign receipts. Tear up the carbons when you take your credit card receipt.
5. Open credit card bills promptly and compare them with your receipts to check for unauthorized charges and billing errors.
6. Write card issuers promptly to report any questionable charges. Written inquires should not be included with your payment. Instead, check the billing statement for the correct address for billing questions. The inquiry must be in writing and must be sent within 60 days to guarantee your rights under the Fair Credit Billing Act.
7. Avoid giving your credit card number over the telephone unless you know the company is trustworthy. Never write your card number on a post card or on the outside of an envelope.
8. Sign new cards as soon as they arrive. Destroy expired cards. Cut up and return unwanted cards to the issuer.
9. If one of your credit cards is missing or stolen, report the loss as soon as possible to the card issuer. Check your credit card statement for a telephone number to report the stolen card. Follow up your phone call with a letter to the card issuer. The letter should contain your card number, the date the card was missing, and the date you reported the loss.
10. If you report the loss before a credit card is used, the issuer cannot hold you responsible for any subsequent unauthorized charges. If a thief uses your card before you report it missing, the most you will owe for unauthorized charges on each card is $50. california merchant accounts
Ain't that the truth, fubar!
Mandi
I'm amazed at how low the interest rate is.
In other countries you could be looking at up to 30% interest on a standard credit card.
Mr Sultu, you may have missed some of the the fine print. Credit cards all over the world charge interest on the average daily balance of your current monthly statement. Even if you paid 6,000 out of the 8,277 owed you will still be responsible for the interest on the average daily balance for that month. I'm just sorry that the bank was not able to explain this in a way you understood. But let me assure you it is a standard practice (and no, I don't work for a bank, I've just owned credit cards for many decades.)
Mandi
This ain't a credit card fraud. You'd rather call it discrepancies in settlements!
Hey Maa look at me....what no one wants to see....much too young to focus but too old to see!
credit cards...are evil. lol!
the 2.25% is an annualized amount, so you'll be charged, by my calculations, about 9 riyals per day that the amount is outstanding.
You haven't told us how many days late the payment was, so how do we know that you've been overcharged?
Contact :
Mr. Muhannad Kalaji -
Senior Relationship officer
+974 4888622 Ext: 232
C-Ring road branch
He can help u !!
--
tEaCh Me RuLeS, i'Ll TeAcH hOw To BrEaK iT ..
rMs..!!
but your situation has no solution...
Whoever you talk to, they will going to explain whatever they believe, until you just got pissed off and leave them.
Anyway, goodluck to your complains...
You have been eaten by the system which the only way to get out of it is to close your account by paying them outstanding balance.
then to the country manager or better yet, to the owner of the bank! Lol!!!!!!!!!!!!!!!
"dgoodrebel will always be the rebellious good one"
"dgoodrebel will always be the rebellious good one"