| Address: ICICI Bank, keeranatham, coimbatore branch |
I am writing to express my serious concern on ICICIBANK regarding recent activity on my credit card which I am using from 7 years. After reaching there customer service they were rude and commenting back you go and complaint wherever you want after explaining the detailed explanation and requested immediate rectification of the following two issues:
Query 1: Incorrect Interest Calculation and Unauthorized Auto-Debit Fees
For my statement period April 15th and payment due date May 3rd, the total outstanding balance was ?8, 62, 000. I made a substantial payment of ?6, 39, 000 prior to the due date. Despite this payment, the following charges were levied on my account:
April 15: Interest deduction of ?32, 316.
Associated Tax: IGST of ?5, 816.88 (18% of the interest amount).
I am disputing these charges for the following reasons:
Interest Calculation: It appears interest was calculated at 3.5% on the entire balance of ?8, 62, 000 rather than the residual unpaid balance. They ignored explaining why interest was not adjusted based on the ?6, 39, 000 payment made.
Auto-Debit Issues: My card was issued based on verified salary credentials, yet an auto-debit feature was activated without my explicit consent. Furthermore, I have been charged an Auto-Debit Return Fee plus IGST. Since I have been proactively managing my payments, I request these return fees be reversed and the auto-debit feature be reviewed which they ignored.
Query 2: Unilateral Credit Limit Reduction
I noticed that my credit limit has been abruptly reduced from ?9, 00, 000 to ?3, 65, 000 without any prior notification or justification.
As a salaried professional with a 7+years of IT professional working with a reputed ELITE category company, and 7+ years of ICICI customer this significant reduction is unexpected and negatively impacts my financial planning. I would like to know the specific criteria used for this downgrade and why no communication was sent to me before this change was implemented.
I have requested for a comprehensive breakdown of the interest charges and a formal response regarding the credit limit reduction within 48 hours. They have simply ignore and blaming the customer back. ICICI Bank is trapping customers in a fraud and doing the scam. Hoping for a help and solution.
Contact email address: [protected]@gmail.com
Was this information helpful?
Post your Comment