Payback.in — Points stolen from card without recourse

Address:

Hyderabad, Andhra Pradesh

Hello, It seems there is a fraud going on with reward points on ICICI Bank Credit cards. I applied for a CORAL Credit card and I later realized that all the purchase points will be transferred to a Payback card. I never received any payback card. 3 days back I received an SMS that I redeemed 9118 points using the Payback card at Big Bazaar. I never visited big bazaar in last 6 months. when I call ICICI bank, they say that we can't do anything, we have given this to Payback. When I call Payback, they say that they cannot do anything since it is more than 24hrs of the transaction. Here is how I think this fraud works and I believe ICICI Bank and Payback have joined hands to do this. 1. while processing a credit card, they create a Payback card account, which they never send to the customer 2. customer merrily makes purchases and hopes that he is earning points which he'll redeem some day 3. the payback card is sent to somenoe else who waits till there is a sizeable amount 4. he/she (fraudster) uses the card and redeems the points 5. if the customer finds out and calls, Payback says its too late Please help in resolving this issue. Thanks and regards, Manoj