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Credit Cards

Annual Fee Charged Without Disclosure

You were issued a credit card that was represented as "free" or "lifetime free" but the bank has now charged an annual fee. Or the annual fee was not disclosed clearly before you applied.

Applies to: All credit card issuing banksRBI/2022-23/128 + RBI Fair Practices Code

⚖️Your Rights Under RBI Regulations

All fees must be disclosed upfront in the Most Important Terms and Conditions document before card issuance.

If a card was represented as "lifetime free" in writing, the bank cannot subsequently charge an annual fee.

Annual fee waivers conditional on spending targets must be clearly disclosed — hidden conditions are not enforceable.

💰 What You Can Recover

Full refund of annual fees charged contrary to initial representation.

⏱ Response Deadline

30 days for written complaint.

📋Step-by-Step — What to Do

1

Gather any written/email communication showing the card was "lifetime free" or fee-free.

2

Write to credit card grievance cell with the specific fee amount and date, citing the prior representation.

3

File with RBI Ombudsman if refused.

🏛 Where to Escalate If Bank Doesn't Respond

RBI Integrated Ombudsman — cms.rbi.org.in

⚖️

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Governing RBI Circular
RBI/2022-23/128 + RBI Fair Practices Code
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