Never get into the trap of applying or holding ICICI Bank Credit Card.here is my story of being ICICI Bank Credit Card Holder for more than 10+ years and I have been paying the monthly dues on time with single payment. In the month of Jan~16, I received by Credit Card statement for INR 8751.00 and during payment processing online by typo error.i wrongly typed the amount as 8571.00 with difference or short payment of nearly INR 179.00. But this short payment had an shock to me, when I received my Feb16 statement in which the Bank charged Interest+ service Tax of 750.00. When conducted the bank call centre and explained the reason behind and requested for reversal. The bank refused to reverse the charges and told that the charge is from the date of transaction still the date of payment.and it is the same if the amount is short paid by even by Re. 1. This being really unfair on the part of the bank to charge for short payment of R.s 179 with Rs. 750. Instead of charging interest on the outstanding amount, the interest is charged on the whole outstanding amount and from the date of transaction. Anguished by the additional charge.i wrote an compliant with the Grievance Form of ICICI Bank. to my shock I received the same explanation from them as well and told me that if you wish, you can cancel the card after payment of full outstanding amount and we shall not be in the position to reverse the charges as per Bank policy. This shows the relationship they would like to have with the customer. They are ready to forego the customer, not the charges.
Pls. friends do not apply for ICICI and if you are holding the card.pls. cancel the same immediately.it’s of no use. They do not bother for being loyal customer, what they expect is that you make mistake or default. Then they can take you for an ride up to burial ground.