I would like to raise my bad experience with RAK BANK credit card.
I am having a RAK credit card with a limit of AED 8300. My statement generation date is on 16th of every month. On 16th, 2019, I have deposited AED 600 in RAK ATM machine in advance to cover my financial charges. As soon as I deposited, its reflected as available balance in my mobile app. When the statement generated, they have not considered the deposited amount and my credit card is shown as over limit. On June 16th, 2019, they have charged an over limit fee of AED 275 and VAT for it. Now due to this over limit charge, again my card went over limit. When I called their customer care, they asked me to deposit some amount and call again to take reversal request. I did it and the reversal request rejected. When I enquired about the rejection reason, they claimed that Bank will generate the statement anytime on 16th. There is no cut off time for that.
On July 16th, 2019, again they charged an over limit fee of AED 275 + VAT for the month of June. This is because of the over limit fee and the finance charges. On August 16th, 2019, again they charged an over limit fee of AED 275 + VAT for the month of July.
Last three months am being charged a total over limit fee of AED 825 + VAT. If I make a purchase on 16th, its coming in the same month statement. The deposits am making on 16th is considered in next month, but in RAK mobile application its reflecting at the same time. Till date I have not missed/delayed any payments. I am totally disappointed by these charges.