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[Resolved]  ICICI Bank Credit Card — Interest charge

Sir,

My wife have ICICI credit card took 2 years back.

Recently she booked flight ticket using the credit card for Rs. 83000.

Amount due date suppose to be paid is 20-dec-2009.

We paid 75,000 out of 83,000 for which still they charged interest for the whole 83,000.

Here is the interest fee details furnished by their website in the given URL http://www.icicibank.com/pfsuser/cards/creditcard/fpc.htm

Here are the two important fee rules:

1) Interest Free Credit Period
18-48 days (applicable only on retail purchases and if previous month's balance outstanding is paid in full)

2) Finance charges on extended credit
0.99% (Monthly) 11.88% (Annually) for Easy Deposit Card

1.75% (Monthly), 21% (Annually) for Spouse Card
1.99% (Monthly), 23.88% (Annually) for Home Card
3.15% (Monthly),37.8% (Annually) for Private Banking credit card w.e.f. March 1st 2008
2.75% (Monthly) 33% (Annually) for ICICI Bank Signature Credit Card
3.15% (monthly),37.8% (Annually) forTitanium, Platinum Premier credit card
3.40% (Monthly) 40.8% (Annually) for all Blue silver & Gold cards, irrespective of the date of transaction
0% (with Annual fee) /1.49%/1.99% (Monthly) for EMI Card. Applicable from the day of transaction.
Finance Charges on extended credit and cash Advance:2.75% (Monthly), 33% (Annually) for ICICI Bank Platinum identity Credit Card.
1.99% (Monthly) 23.88% (Annually) for Fixed Deposit Instant Credit Card.

If you see 3.40% (Monthly) is charged. But on what basis? They didn't explained on their website.

When i called the customer care, the explanation (which is good for them) is that even though the part payment is made still they charge the interest rate for the whole due amount for the last month.

Please do make the necessary action against the fraud bank. Banks like them are blood suckers of our hard earned money. Whole recession world is facing now is because of the bank thinks that they can apply any blind interest on the people.

Please do the needful to take the action.

I will send you the necessary details based on your input.

Regards,

Nazim
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Complaint marked as Resolved Aug 14, 2020
Complaint comments  16 CommentsShareTweet

Comments

ICICI Bank Credit Crad — Interest Charge

ICICI Bank is unnecessarily charging the interest on credit card payment.

They are making fools to people by saying something else and policy is different.

When I asked them how much I have to pay so that no interest will be charged they told me to pay only 1320.00 rupees now they are asking some interest on the amount. even though I write too many mails to them but they are not replying.

icicibank gold credit card — intrest charges

I had made a payment for the card by SBI cheque . cheque had not realised after a week and I enquire to customer care, who could not tell the reason for nonrealisation of cheque.I enquired at SBI who gave the info that cheque was treated as out of range .I am told bring my cheque book and bank authorities put it in range. after a day the cheque is presented by ICICI and it is realised .

Subsequently month I am charrged an intrest amount of Rs 86/ for no fault of mine. I spoke to MR KISHORE customer service Executive and tell him to send a copy of the cheque returned by SBI or letter stating the reason given by SBI when the cheque had not realised the firs time, he assures me taht it will be done . but till date nothing has come

My card no is [protected] ICICI GOLD CARD
Dear Sir/Madam,

This is regarding intrest and service cahrge charged to my credi card
account.Last month my out stand was Rs 6238.97 with due date 29/6/2007
which i have paid back through two cheques

1.Cheque no: 798691 Fedral Bank dated 29/6/2008 for Rs 3750.00
2.Cheque no: 441571 ICICI Bank dated 29/6/2008 for Rs 2490.00

which are sufficient for the payment.But when i received this month
statment dated 11/07/2008 the ICICI cheque in not accounted in the card
account as a result an intrest charge and coresponding service tax has
been charged to my account Rs 388.23 + Rs 47.99.When i checked with ICICI
bank the cheque has been cleared on 7/7/2008 this happened due to some
mistake from the bank and also our city was on harthal for one day after
the cheque was droped which might have been the reason for the delay at
the bank.

Kindly lookinto the matter and request you to reconsider the intrest
charge and the service tax charged as i am a no dues payer of your credit
card account in all previous months.


Thanking You

Melvin Antony
MOOPAN MOTORS P Ltd,
NH 47 BYE PASS,
NETTOOR P O
COCHIN 682 304
Card no: [protected].

SILVER CREDIT CARD.ICICI BANK — fraud shopping from credit card

Dear sir,
this is kunal chatterjee from lucknow, i am using a silver credit card of icici bank, numbered [protected] whose credit limit is 45000/- and 9000/- cash.Now i got a messege on 8th april 2008 that a shopping of jwellery worth 35, 900/- from a shop named shyam sunder raj giri dharan(aminabad), has been done from my credit card, near 12 o'clock, at that time i was in faizabad on tour, i am in a pharma com., immediately i called the cus.care of icici, and i explained them everything, on my request they blocked the card and told me to lodge a complaint and fax it to their dispute deppt.on the address given by them.i immediately acted.After five days when i asked what happened they said i have not mentioned the complaint no.in that dispute letter, then they gave that complain no. and told me to fax it again including the com. no., they said that after receiving the letter the bank will take 60 days for verification against that dispute.if the dispute will go in yourfavour then the amount will be again creditd in your account otherwise will have to pay the sum.Now in the month of may suddenly 2, 220/- vanished from my account i did encquiry and came to know that this was the minimum due amount against my outsatnding of 43, 000/-, i asked them how can they deduct this amount without any authority and proper intimation or information, executive said that their is an auto debit facility between your salary accout and credit card accout and this was not in my knowledge.This shopping was not done i dont know anything about it, on the contrary i was not in town at that particular date, how this is possible, i cannot afford to shop this much of amount neither i am capable of paying the interest on this.now after 90 days i received a call frm delhi cus.care icici bank that my outsatnding is 43000/- and my minimum due amount is 2580/-.I asked them that how this is possible i have already raised a dispute against that fraud shopping, the cus.care said that the dispute has gone to the banks favour and you to pay this amount.I said that without any proof how can the bank raised this dispute against its own favour, i asked them that if i would have done that swapping then please show me my signature on that slip which is being raised twice from that shop, one is kept with my sign in that counter one another is given to me.Cus.care executive said that the dispute has gone to bank's favour so i must pay.i said to him that bank told that it will take 60 days and after 90 days it says that the dispute has gone to its own favour that also without any proof, and the bank has not even given me any information or any letter regarding this dispute, so i straightly denied to pay any amount.Now from last 15 to 20 days i am getting calls from delhi cus.care icici fro the recovery of this amount, now they have started to give threatining calls also, they are saying that either pay that amount neither we will send our recovery people.I am suffering from physical as well as mental harashment, I cannot work properly, i am filling such a deppression that i cannot explain to you, because i am not capable of paying this amount, i have my very simple income with lots of expenditures.Please help me out from this okward and critical condition, first off all why should I pay this amount when I have not used it and neither the bank is capable of presenting any proof to me.Please respond as quickly as possible regarding this matter either they will make me more suffer
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ICICI Bank — Credit card Interest Charges

I received last month credit card statement with interest of Rs. 1477.33 and service tax Rs. 182.60. I pay my dues promptly and last month i paid Rs. 12, 500 for my account with a balance outstanding of Rs. 100/- of a total 12, 626/-. I just want to ask you that for a Rs. 100 do you charge an interest of Rs. 1659.93/-. By offering such a poor customer service you are charging me an interest of Rs. 1659/- for the customer. If you are not going to revert my interest charges i will cancel my card and i'm not going to use my icici card again.

Moreover i shifted my residence long back and updated my address to the bank. I didn't receive my bank statements properly for a period of one year even after updating. 2 months back i made so many calls to the customer care and updated my address. (Telephone bill statement is also there to show you to the proof ) I applied for redemption of reward points also. But i didn't receive my gift vouchers yet. They have sent to my old address. So, after that i called up again and complained about it. So far i have not received it. So what the bank is going to compensate for this. By offering such a poor customer service you are charging me an interest of Rs. 1659/- for the customer. But what the bank is going to do for offering such a bad service. If you are not going to revert my interest charges i will cancel my card and i'm not going to use my icici card again. i want you to immediately send the gift vouchers also.

icici credit card — intrest charged

recieved your letter re. outstanding bal. rs.2850.32against credit card no.[protected] .pl note that we have not recieved any bills till date while we had earlier deposited all EMI on time. since aug 2008 there has been no communication from your side. you may also note that the address on your bill is wrong as such we have several times informed you on phone reg.this . the add mistake in your letter is Nimun villa instead of Maimun villa, and as there is another such address of similar name the letter are misdropped and once a while by courtsy it is send to us as and when some body finds it. now you may note that we are not ready to pay any intrest levied any time now and earlier also as we had already talked on your customer care and they had told us that it will be reverted . now you may send us your bill of 2 months by reverting the intrest to nil so as to deposit the payment cheque immediately.
recieved your letter re. outstanding bal. rs.2850.32against credit card no.[protected] .pl note that we have not recieved any bills till date while we had earlier deposited all EMI on time. since aug 2008 there has been no communication from your side. you may also note that the address on your bill is wrong as such we have several times informed you on phone reg.this . the add mistake in your letter is Nimun villa instead of Maimun villa, and as there is another such address of similar name the letter are misdropped and once a while by courtsy it is send to us as and when some body finds it. now you may note that we are not ready to pay any intrest levied any time now and earlier also as we had already talked on your customer care and they had told us that it will be reverted . now you may send us your bill of 2 months by reverting the intrest to nil so as to deposit the payment cheque immediately. you may talk to me on mobile no [protected]

ICICI Bank Credit Card — Interest Charges

TO ICICI BANK EMPLOYEE (Conversation on mail)

Dear Mr.Rajan,


I have used this card for Rs 3801 only..and now you have charging rs 4, 753.83.

Please clarify interest charged on my payment.

I have made the payment through icici bank executive on 19th March and on 23rd March u have received the chq.

my due date was 26th march.



Also kindly check your recorded call detail for yesterday. Which I had with Mr.Sudhir who has confirmed me that my chq was received and cleared on 23rd march and current Credit balance amount =rs 21.



Please justify how much time u requires clearing and giving a status for a chq?



Total days= 7 from (19 - 26th march)



NOTE: I will not pay the fraud interest charged on my Account.



Just waive off all the charges and settle my account on Rs.3801


Regards,
Rahul
[protected]




On Thu, Mar 26, 2009 at 1:22 PM, ICICI Bank Customer Care <customer.[protected]@icicibank.com> wrote:

Dear Mr. Rahul,

For quicker resolution of your query/request, please write to us through the "E-mail Us" option at our website, www.icicibank.com

We clarify you that the cheque number 884221 for Rs.4500.00 is returned due to insufficient balance in your Saving Account.

The Service Reference SR[protected] for cancellation of your Credit Card is under process.

It will be processed by 02/04/2009.

As on date your total outstanding balance is Rs. 4, 753.83.

We request you to make complete payment at the earliest to avoid any financial charges.

Sincerely,

M Ranjan
Customer Service Officer
ICICI Bank Limited

CONFIDENTIALITY INFORMATION AND DISCLAIMER:
This e-mail message may contain confidential, proprietary or legally privileged information. It should not be accessed by anyone who is not the original intended recipient. If you have erroneously received this message, please delete it immediately and notify the sender. You will appreciate that e-mail transmission cannot be guaranteed to be secure or error-free as its contents are susceptible to loss, damage, interception, destruction, etc. Before opening any attachments please check them for viruses and defects. The notice appended to the e-mails is not intended to prejudice the interests of our customers in any manner or to evade responsibility for any act of done with the endorsement of ICICI Bank.


-----Original Message-----
From: customer.[protected]@icicibank.com (customer.[protected]@icicibank.com)
Date: Wednesday, March 25, 2009 01:09 PM
To: customer.[protected]@icicibank.com (customer.[protected]@icicibank.com)
Subject: Product: Credit Card / New Customer / rahul.[protected]@gmail.com


Title: Mr.
First Name: RAHUL
Last Name: KUMAR
An ICICI Bank Customer: No
Product: Credit Card
Account No: NA
What would you like to say: I have not satisfied with the customer care employee Mr Sudhir (Hydrabad office)who spoke to me today 25 mar 2009 regarding my paymens made on Credit card.

My Chque was received on 23rd march in favour of icici bank crecit card for rs.4500.

but still he cannot confirm me the payment WHY?????

He has hanged the call for atleast 15 mins...and not giving the appropriate information of my dues.

then request for cancellation of card.

MY REQUEST NO[protected]

regards,
Rahul
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Plz do take strict action on this

icicibank gold credit card — Request for PIN code

Hi,

I have received a credit card few months back without the PIN details. Its says on the documents which came with it, on the internet icicibank site and everywhere else to call up the customer care number. The service is so disappointing that i now have no other option but to log this as a complaint.
I dont know how to put this but how many times do we call a number where everything is managed on an IVR. Whom do we contact if it fails or do you just expect us to keep on calling on that number till we succeed. A pin is required for my credit card, which has not come with the credit card itself.
I request somebody to take notice of this. I also want to get an e statement for both my credit and debit card and also want my debit card to be linked to my demat accont. I would appreciate it this
complaint is looked into. Since i am not sure if there would be a response to my mail i am not mentioning the credit or debit card number in this complaint.
I would be glad if i am e-mailed back asking for the details which would be required to process this.
Hope for a positive and early response from the concerned team.

Regards,
Shubha.

ICICI Credit Card — ICICI CREDIT CARD - Interest charges

I humbly request every individual to stop using ICICI credit card because they only loot their customers no matter how much business you bring to them.They also don It does not make any difference to them. There is no benefit of doubt. They don’t trust their customers and their customer service sucks…. Right from the lower executives right to the Nodal officers…



My ICICI Credit card Number: [protected] activated in 2007.

I have been so fed up with the ICICI credit card department. They have the post pathetic and disgusting staff. Right from Customer service department to the Nodal Officer Department.

Their customer service department is so poor, they do not update their records and we customer have to pay the brunt for it. Is it the customers fault if your customer service department does not update the records? How can the Nodal officer claim that a customer has not called the Customer Service department if the concerned executive has not updated the account?

It happened to me on 20th October 2007, where I was wrongly charged to my account for a transaction. I had called the customer service department, they asked me to fax a dispute form. I After confirming with the customer service executive the receipt of the form via fax, I was asked to pay less the amount not due to my account and was informed no additional charges like interest fee or anything extra charges will be charged till my issue is resolved. To my misfortune I trusted the customer service executive and destroyed the proof of fax and for the next 4 months till February.

Some questions to be asked here??

1) How on earth do I trust ICICI for the transactions they charge on my card?
a) Most of the time bills are sent after due date. Without going through the whole bill why the hell should I pay the full amount? What if there are incorrect transactions. If the first mistake was not corrected, how would they ask me to make full payment?
b) If the customer service executives are so inefficient and if everything needs to be written and sent across, why are the executives sitting there for? If we don’t trust them for their word why don’t they start dispatching letters for the confirmations they do?

2) Why was I getting credit for my charges if there was no proof of my dispute?

The same error occurred to me on 18th March 2008 and 21st February 2008 dual charges for Vodafone & again the same thing was repeated. I did not take it seriously as I was told the charges would be reversed to me till issues would be resolved and I was getting reversals in my account till Feb’08.

Then due to some personal reasons I was not able to follow up with ICICI and the interest charges and late payment fees were continuously being levied heavily on me. I still continued to make payments on my purchases. Then on 15th Sep’08 I had raised the same issue with the second level as per ICICI’s online complaint process, but the reply was not satisfactory as there was no proper solution been given. Then the same issue was raised to Head Quality Service wherein I received no reply. As usual it took too long for ICICI to reply for my queries or to provide solutions all the knew was to loot their customers by levying heavy interest fees.
The issue was raised to the nodal officer pleading to waive off the nuisance penalties on to my account. I had accepted and paid all the purchases due on my account and had requested for disconnection.

But they put me on stupid EMI system and rejected my application of disconnection.

I have made all my payments. And would request to please help me get rid of this nuisance ICICI credit card department.

I want to disconnect and shut my card . Please stop levying interest penalties on my card… They have been doing that and now they say I have 50,000/- outstanding. [censored]… Prove it’s the unpaid purchase and I will pay for it.


Someone please help me settle my credit card.


COULD YOU PLEASE TELL ME IF THERE IS ANY ONE ELSE ABOVE NODAL OFFICE WHO CAN RESOLVE MY ISSUE.
Dear Hazel,

We're sorry to hear about your experience. We'll contact you and work to address your issue at the earliest.

Regards,
ICICI Customer Service Team.
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ICIC Bank Credit Card — Interest charged on Credit card

Hi,

I have been charged interest of Rs1100 for not paying mere Rs.200. My billed amount was 11700. I payed 11500, as i forgot the exact amount.I am with ICICI for last three years.How you people can do like that???

Kailash Chandak
Dear Nazim,

We're sorry to hear about your experience.

Please write to us with your contact details and credit card number at [protected]@icicibank.com (Subject line: UID 174970). We'll contact you and work to address your issue.

Regards,
ICICI Customer Service Team.
Customer service,

based on your feedback, I will send my wife card details shortly. I apologize for being emotional on my statement.

however I see no transparancy in interest fee calculation. I would request you to show some respect for your customer, when your entire buisness is running on customer.

I am expecting the issue will be resolved amicably.

If not, I would rather settle the outstanding and discontinue the card.

Ultimately you are loosing customer whom will never use your service again.

I am holding citi credit card for 6 years. I never had any default payment and had such issue .

Because they are transparent, I am contuing with them.

Anyway please do resolve the issue.
I have deposited Cheque on 18th Nov. at ICICI Bank, Akola agansit Credit Card ([protected]) Payment of Rs.22750 (Ch.468376 Dated 23th Nov.) due date 23th Nov. I had a call from ICICI Bank that there are not taking Post Dated Cheques aganist Credit Card Payment. After discussion there arrged to deposit it on concern date which was not deposited on due due date. After having a call / reminder for payment had visited to ICICI Bank Akola for the issue, which was than deposited after due date which is due to their negelency. Even the Person who has taken the reminder for Payment has issued that no late charges will be made as cheque was laready dposited before due date. Still the late fee charges are charged in account statement which must be credited back. please look into the matter.
Vijay Dongre Cell - [protected].
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