ICICI Bank Visa Credit Card

Hello Everyone,

Not many people who have Credit Card know that they can raise a dispute with merchant in case not satisfied with the transaction done via credit card.

I had a bad experience recently with one of the merchant "Blue Ocean Cruises" . I have booked a cruise with the merchant using my Credit Card on their website however the merchant cancelled the cruise without informing me and when I visited their office in Mumbai trying to get my money back they informed me that they are facing cash problems and will not be able to give me back my money!

Frustrated, I start searching  reviews on the merchant and found that various other customers had faced the same problem and the only rescue I had was to either shout and scream for my money or file a fraud complaint with Mumbai police:D

However, I found this amazing feature on my ICICI platinum card(and its available on all credit cards in India) called Dispute.

There are many kinds of dispute main ones are listed below(please Google for more on dispute)-

1. Fraud transaction(you never did that transaction)

2. Billed twice(for the same transaction)

3. Fraud transaction(you did only one transaction, however few others from same merchant are on your bill)

4. Incorrect transaction(you transact for X rs however billed for Y rs)

5. Never received merchandize you paid for

6. others like ATM cash withdrawal dispute, etc etc

So frustrated, I submitted a dispute on my ICICI  credit card in category "Never received merchandize you paid for", submitted all relevant documents as told to me by ICICI customer care and I was informed that I need to wait 90 working days. They(ICICI) immediately credit my account with the money as interim credit and informed that if dispute goes in my favor they will give money back.

Amazingly, after waiting 70 working days the dispute was resolved in my favor and I get 27000/- Rs back:D, though I will not get that money back in cash I can always spend the balance as my card balance is now negative.

I must say this made me very happy and increased my trust in our Banking system and ICICI. I would have loved if they kept me posted on the progress as I only received 2 SMS from ICICI in the entire process. However their mediation really helped as I was not expecting anything from ICICI as it was not their fault.

Regardless, a five star rating is the least I can return back:)

Nitin