I applied for a ICICI HPCL silver credit card and got one,
assuming that I will also make some ’’savings’’ on fuel
purchases as advertised.
The credit card brochure mentions that the transaction
charges of 2.5% of the fuel purchase will be refunded by
the bank(which the bank does refund). But the brochure
doesn’t mention that apart from these 2.5% charges on fuel
purchase, there are hidden charges of Rs 2 per transaction
that are levied by the petrol pump as ’’telephone connection
charges’’ for swiping the card.
On contacting the 24 hour helpline, the bank
representatives say that since the bank does not authorise
this ’’extra’’ Rs 2 transaction, we cannot do anything
and that amount is payable, if demanded.
In case you don’t want to pay this extra charges of Rs 2,
you will have to take up the case with the petrol pump
itself.
I suppose they expect customers to keep fighting and
arguing everytime at petrol pumps for Rs 2.
When a customer takes up ICICI HPCL co branded credit card,
he expects better service, not more harassment at every
purchase.
Why does the bank write, so much big words as, ’’savings on
fuel purchases’’, when they want to market the card? They
should mention ’’clearly’’ that apart from the 2.5%
component of the transaction that will be refunded, the
customer will have to will have to pay charges of Rs 2
extra per transaction.
Now for the fraud ’’savings on purchases of fuel’’, I will
explain some small calculations.
CASE 1:
Rs 125 of fuel = 2 points = Rs 2.
Extra telephone charges by petrol pump = Rs 2.
Net savings = Rs 2 - 2 = 0;
CASE 2:
Rs 100 of fuel = 1 point = Rs 1
Extra telephone charges by petrol pump = Rs 2.
Net savings = Rs 1 - 2 = -1;
NET LOSS USING THE CARD = Rs 1.
It is not a matter of Rs 2, but faith posed by a customer
in the bank and taking what is written as true and
assuming no hidden charges.
Reading other reviews here also and seeing the working of their customer service, I can very confidently say that
they are even worse than most public sector banks.
ICICI may also be in the list of Enron and Aurther Anderson
in the near history, if you see their working style.