India, May 12 -- Credit One Bank, a major provider of consumer credit cards, is facing a class action lawsuit after allegedly misleading customers with unauthorised rate hikes and hidden penalties. The legal action stems from a wave of complaints, over 1,400 filed in just three years, by cardholders who reported unexplained charges and poor customer service when seeking resolution, with no clear explanations.

Individuals who identify as individuals in the lawsuit against Credit One may be entitled to receive the compensation amount. The settlement payment amount for individuals can be up to $1000. However, the amount can only be claimed upon producing valid documents that prove the wrongdoings of the bank to them, as reported by Kaliabor...