• June 18, 2018
    Last updated 3 minutes ago


Money matters

Inadequate rewards points and unnecessary annual fees

16:02 September 13, 2017

I am holding a Mashreq-Etisalat Signature card issued by the bank. I have raised two issues with the bank but they just take note of them and provide no further action.

My first issue: I had spent a certain amount and am eligible for the etisalat points at five points per one dirham, but I received a reward of only half the points. I escalated the issue to the bank about two months ago, and followed up with reminders but it was all in vain. I did not receive a single call on this matter.

My second issue: As per the latest statement on my Mashreq-Etisalat card, an annual fee of Dh650 was charged in my statement, which was due on July 19. Meanwhile, I received a message that the bank had stopped serving that card and it now stands cancelled. I called the bank for reversal of the fee, since the card was cancelled. But I have not received any response so far. If I do not pay the fee, I might be charged interest on the entire outstanding amount, and then again one more issue will pop up, and if I do make the payment, the bank may not reverse it. I want the issue to be resolved before the due date but the bank seems to not be bothered about customers like me.

Please escalate this matter so that the bank can respond to my complaints. As per ethics, once the bank has discontinued the card, they should reverse the fee, as they have no right to charge for the service.

From Mr Harish Kamnani

Abu Dhabi

The management of Mashreq responds:

Thank you for bringing the issue of Mr Kamnani to our notice. Mr Kamnani had raised his concern with regards to Points Calculation and Annual Fee charges levied on his etisalat credit card.

Our investigation reveals that the Points were given correctly to him in line with the terms and conditions of the card.

The transaction posted on April 23, 2017 exceeded the credit limit for that cycle, hence the points were not awarded.

Mr Kamnani has been called and we explained the below terms and condition:

“The reward points will be calculated on your statement date, for transactions posted till the previous day. For instance, if your statement date (billing cycle) is on the 28th - Spends posted between 28th and 27th of every month will be considered for reward points calculation in that statement. So while a transaction posted on 28th is included in statement as spends, it will not be considered for reward points in that month, and will instead reflect in the following month, that is, points accrual follow a one day lag.”

With regards to credit limit cap, reward points accrual, which is subject to credit limit cap, will once again follow the points cycle and not billing cycle. Points cycle is a one-day lag from billing cycle.”

Regarding the second concern raised, we have reversed the complete annual fee of Dh649 to Mr Kamnani considering the card cancellation.

We have spoken to Mr Kamnani and informed him about the reversal of Annual Fees. He is happy with the response to his complaint.

Thank you again for approaching us and seeking clarification.

Mr Kamnani responds:

The issue is now resolved and I would like to thank Gulf News for helping me resolve the matter.

(Process initiation: July 31. Response from organisation: August 6. Reader confirmation: August 7.)

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.