Even without doing any transaction through my credit card last month, today I got my credit card statement with some interest charges. ICICI credits cards have become big source of income for this bank. They charge hidden service taxes, huge interest rate, change their policies and plans without informing the customers. I will never forget the face of that agent who suggested me to go for ICICI credit cards. He told me it is life time free, so many offers are there, 55 days credit free period, very low interest rates. Now I realized that everything that was told to me was fiction and we all know “Truth is stranger than fiction”. I am facing the truth of that credit card.
Let me tell you some unknown and hidden facts about the ICICI credit cards.
1. Maximum credit-free period is only 48 days. The credit card agents will tell you 55 days which is wrong.
2. Late payment charges are 30% of minimum amount outstanding (Minimum Rs. 400/- and maximum Rs. 600/-).
3. If you want to do cash payments at bank branches for credit card dues, then you will have to pay extra fee of Rs. 100/- per transaction.
4. If you lost your credit card then you will have to pay Rs. 100/- for getting new card.
What is your opinion now about ICICI credit cards? Do you own it? Share your experience.