Credit shield for outstanding?

I have had an FGB credit card for almost 10 years. I visited FGB when I lost my job on April 1, 2015, to know the process of availing insurance towards loss of job for the outstanding in my credit card.

I showed the collections officer the termination email. He said they do not accept emails; I would have to bring the termination letter. Meanwhile, the authorised signatory of the company was away. I submitted the letter in June, as I had already informed FGB about my job loss in April. When even email or computer-generated communication stands valid in all instances, I am being denied the same here. Every time, I was told to pay a minimum amount, and was told they would solve my case in the first week of the month. I am paying, considering a possible amicable solution from the bank. I look forward to claim the insurance, as I am paying for this purpose.

From Mr Prasad Dharmapurikar


The management of FGB responds:

FGB is grateful for all customer feedback to which we give careful consideration as we strive to consistently deliver the highest standards of service. We informed Mr Dharmapurikar about the requirements for making a Credit Shield claim when he visited the bank in May regarding the loss of his job, which included providing a stamped and letter headed termination letter, within 45 days of the termination date. The customer returned in July, however he could not provide the required termination letter and the claim could not be processed. Mr Dharmapurikar confirmed that he would be able to meet the minimum payment due for the month and would visit our collections department again in August 2015. We will be contacting Mr Dharmapurikar to establish a settlement plan for his credit card.

(Process initiation: July 30. Response from organisation: August 4.)

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