• July 19, 2018
    Last updated 3 minutes ago


Extra charge on credit card

Reader charged yearly fees on credit card

Shreya Bhatia, Readers Interactivity Journalist
15:33 November 14, 2017

Extra yearly fees

I have had a RAKBANK Titanium credit card for the past 12 years, without any major issues, till someone from the bank visited me and promoted me to a RAKBANK World credit card with additional benefits. At the time, I did not find anything attractive about the benefits but the salesperson insisted that the card was free for the first year and I would be charged upon renewal, if I didn’t spent Dh50,000 in the preceding year. So I got the card upgraded to RAKBANK World.

In August 2017’s statement, I noticed a yearly fee of Dh750. When I called the bank’s customer service, they claimed that I did not spent Dh50,000 so I asked them to either waive the charge or reverse my card to the old RAKBANK Titanum one I had. They came back saying that I would have to pay the fee to close my card, which defeats the purpose of why I chose the card. I had many exchanges with the bank, but without any positive reply. They confirmed that this was for the second year, as I did not spend Dh50,000 and they could not downgrade to RAKBANK Titanum. So I reiterated that I was not interested in renewing the card anymore. Furthermore, in September’s statement, they charged me around Dh420 for not paying the yearly fee. I settled the balance, except Dh750 and the extra charge of Dh420, and emailed the bank requesting them to close the card. Since then, I have been dragged from one customer representative to another and they all ask me to pay the second year’s fees to close the card, while my main problem is that I am not willing to pay.

From Mr Albert Haykal


The management of RAKBANK responds:

As per the bank’s standards and best practices in the UAE banking industry, the bank is limited with respect to disclosing or providing details and/ or specific information about their customers to any third party to maintain the confidentiality of their data and personal information. We have contacted the customer and clarified that the charges that the charges levied are as per our published service and price guide. These charges were levied since he had not met the minimum spend criteria required to avoid annual fees payable on the RAKBANK World Credit Card. However, we have taken into consideration Mr Haykal’s continued relationship with RAKBANK and the charges are being reversed on an exceptional basis, as a gesture, and Mr Haykal has been informed of the same.

Mr Haykal responds:

Last week, I got a call from a RAKBANK representative and I was informed that the relevant fees were reversed. Indeed, Gulf News’ intervention did help resolve the matter swiftly. Thanks a lot.

(Process initiation: October 10. Response from organisation: October 11. Process completion: October 22.)

Editor’s note: Do you have similar issues that you would like to raise with us? You can write to us at readers@gulfnews.com.