why credit card is blocked if we deposit excess money ?
Tipsy
(Querist) 22 July 2009
This query is : Resolved
why credit card are block if we deposit excess money over the bill What is Reserve Bank Guidelines?
I recd credit card Bill of Rs 3000, I deposited Rs 10000 State Bank of Inida had given Credit of Rs 6000 on my card and I put extra money of Rs 7000 so that while travelling i dont face any problem, but instead they call me to block my card or else with draw excess
Ruchira Gupta
(Expert) 23 July 2009
Credit card is not a bank account where you can deposit money for emergency use. Its like a loan which you are taking from the bank free of interest and charges for one month. You will pay only the bill amount and nothing more. You may have your credit limit enhanced in case the bank is satisfied about your credit worthiness for that amount.
