Indusind Pinnacle World - Joining Fees

[googley]

I was recently talked into getting an upgrade from Aura Edge to Pinnacle World by one of the bank reps in Hyderabad. I goofed up

Now I have also received my HDFC DCB Metal CC which is a much better deal for me and now Pinnacle World doesn't make any sense the the cost of Rs 17,700/- (15,000 + GST).

The Pinnacle virtual card is now visible on my Indusind app but I have validated with the bank that its still dormant.

Is there a way for me to close this card and avoid the Joining Fees. I am not bothered to close both the Indusind Cards.

 

[NOOBY]

as per RBI rules, if you do not activate the card within 30 days, it will get closed automatically

you can wait for the retention team to reach out to you or call them by yourself and talk them out of either:
1. making the card LTF
2. convert it to Legend (LTF)
3. revert the upgradation and to give Aura Edge again
4. close all relationship (as you are not bothered anyway)

If not pinnacle, you should try getting Legend as LTF.

 

[googley]

as per RBI rules, if you do not activate the card within 30 days, it will get closed automatically

you can wait for the retention team to reach out to you or call them by yourself and talk them out of either:
1. making the card LTF
2. convert it to Legend (LTF)
3. revert the upgradation and to give Aura Edge again
4. close all relationship (as you are not bothered anyway)

If not pinnacle, you should try getting Legend as LTF.

Thanks for the details, so in case I don't activate my card in the next 30 days I am not required to pay the 15k + GST as the joining fees right?

 

[zomato]

Thanks for the details, so in case I don't activate my card in the next 30 days I am not required to pay the 15k + GST as the joining fees right?

no you don't have to pay.

 

[NOOBY]

Thanks for the details, so in case I don't activate my card in the next 30 days I am not required to pay the 15k + GST as the joining fees right?

Correct.

Fees can be charged only if the card is activated. If statement gets generated somehow (stmt date is within 30 day period) and joining fees is charged, you can simply mail their PNO and deny payment by saying that you won't be activating the card and would let the the credit account to auto-close within 30 days.

If they still ask you to pay the fees (by saying stmt is generated and you need to pay it) before closing the account then you can raise it with RBI BO and get 15k as compensation from them along with reversal of any charges