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.
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Hi Abhishek, I am also using the icici titanium credit card since last one year, but i have never encountered this kind of problem. I think there must be some delay in the payment, that’s why the bank has charged you.
I also want to clear few things about these credit cards the maximum credit period given is 52 days, neither 48 nor 55. It might be possible that agent have falsly communicated to you.
And about this Rs. 100 charged for cash payment of credit card, this policy is being adapted from the CitiBank, largest US bank. The main concept behind this is that they want to minimze the human work, while the bank has given online facality t pay the Credit card bill, why to go at the branch..?? Most of the banks are adapting this policy these days like icici and hdfc.
Why do we need CC?
We all know it has few positive sides and lots of negative sides then why more and more people are going in for CC.
Is it just because few of your friends are using it.
on 9.48 pm 18 oct 2008 sunil gaikwad wrote:
I have been alloted a gold credit card last month but
it has been despatched on 4 oct 2008 from mumbai to pune
but still not received. when I tried calling your hlp line no. the representative says that it has been depatched. does it take more than 15 days to receive from mumbai to pune.
so for clarifications pls free to call me on 9823979557
Hi Abhi. I also own an ICICI credit card. I recently booked a couple of railway tickets, using my card for an amount of Rs. 1372.26, which was a mistake as i could have used my debit card for the same. Any ways, i forgot the due date & paid the amount by cheque a day late, then i received my e-mail statement saying that my due date had passed, so i promptly put a cheque for the due amount, which was Rs.571.92. After a month, i got another e-mail for an amount of Rs.1049.45, and a few days back i got another statement for an amount of Rs. 1500+. What i dont understand is, where is the cheque that i put in the ATM drop box, why there is no comment about that any where, or is it that they just want to go on increasing the amount by adding Rs. 500+ every month & screwing the peace of mind of the card holder who was naive enough to get it in the first place. This is one experience which will remain unforgettable, i still curse the day i gave my documents for a life time free credit card.
Hi,
Whatever you have mentioned as ‘hidden truths’ are not like that exactly. All these terms are well defined in their Terms & Cond. If anyone doesn’t take care of that and go ahead with what agents tell, then it becomes really ‘ HIDDEN ‘.
http://www.icicibank.com/pfsuser/cards/creditcard/homecreditcardmitc.htm#English
Hi Abhi,
even i am using ICICI credit card from last 3 yrs and i never faced thse kind of problems. Infact i feel ICICI gives very good services, even their customer care is very helpful and online money transaction is so easy with them.
just keep in mind you payment date, if you’ll ba late, offcourse you would have to pay but other than that there are no hidden charges as such. i ma using it successfully and really happy with their services.
keep posting.
Ruchira