Waiver of Interest Charges on SBI Credit Card?

[mukundstud]

I was casually talking to one of my seniors, when suddenly, a discussion on the benefits of credit cards started between us. I came to know that he was pushed an SBI SimplyClick credit card by an agent 5 years back(when he was an MTech student), and has not used/checked that card a Single Time till now. I got alarmed by his statement and checked his credit score ASAP. As I feared, his CIBIL score was really low at 546 and none of his payments were on time. This happened most probably because he was knowing about the Joining and Annual Fees of SBI Credit Cards, and they have piled up along with outrageous interests over the period of 5 years. His card dues as of today are nearly Rs. 5300. Although this amount is not much for him, he is really angry because he sees these charges to be unfair. He was not told about any credit card related charges by the agent, and he thought that there is 0 cost of keeping a credit card.

I told him to fist register his card on sbicard.com website and check past statements on his card. I don't know whether he will be able to see his last 5 years statements or not. I also told him to contact the customer care for full or partial waiver of the outstanding amount on his credit card.

I want to ask the forum members, if partial or full waiver of the interest charges on SBI CCs are possible or not. He is ready to pay joining and renewal fees if interest charges are waived off on his card. Any special advice he should follow regarding this issue?

 

[V360]

1. If there is no written confirmation to substantiate that Card was without charges, then SBI or RBI will not entertain any negotiation
2. Settlement of this due without complete payment will still be a negative entry on CIBIL - unless Bank agrees to update the status as CLOSED by taking partial payment.