[Resolved]  ICICI Bank, Credit Card — EMI Card

This is with regards to the EMI Card in my name issued by ICICI bank.([protected])
I got this card sometime in Aug'07-Sept'07. The DSA never informed about the actual rate of interest which will be charged on the spend if the amount is converted to EMI, at the time of application.

In Oct'07 - Nov'07 I spent Rs 8, 900 on the card and received the statement showing Rs2, 000 as the first EMI for the spend.Upon enquiry with the bank call center I was told that the EMI was for 6 months. So effectively I pay Rs 12, 000 for a spen of rs 8, 900 over 6 months. This works out to be approx 34%. After getting aware of such high Interest rate I immediately paid the full amount to the bank and that to with in the due date.

Subsequent to that I have been receiveing statements which show some amount payable as Interest Charges, Service Charges, Late Payment and Service Tax.
I then again spoke to the call centre regarding this and was told that since the Card is EMI I will have to pay the Interest Charges.

Now, when I have paid the full amount in time, there is no reason for me to pay this interest, I also requested the staff to cancel my card.

It has been almost 3 months now and neither the card has been cancelled nor the account closed.
Most recently I was directed to speak to a grievance officer.
The contact nos although 24X7 are always busy.

Please look in to the matter urgently and close my account.