How to get interest reversal

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Deal Cadet
sitapodila227

last month out of 30000 credit card bill , I missed 2000 payment , in the next credit cycle I purchased 1 lakh Rs purchases and today I got the new credit card statement with 3500 Rs interest fees , I called Icici customer care and asked them why they have charged 3500 Rs for the missed payment Rs 2000, they told interest will be charged on the outstanding amount for the transactions done in new cycle , is there any way to get the refund of interest charges ,

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Deal Cadet Deal Cadet
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One of my friend told that if we ask cc to close the card for the interest charges , there is chance for refund , is it true ?

Deal Subedar Deal Subedar
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Dey charge interest on entire amount……happened with me.. Instead of paying current due amount i paid previously due amount.. So short for arnd 500…citi charged 600 for late payment and interest wid gst like arnd 900 rs… Called cc… Dey reversed due to good n long history

Deal Cadet Deal Cadet
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24karat wrote:

Dey charge interest on entire amount……happened with me.. Instead of paying current due amount i paid previously due amount.. So short for arnd 500…citi charged 600 for late payment and interest wid gst like arnd 900 rs… Called cc… Dey reversed due to good n long history

Have you asked for the reversal ?

Deal Cadet Deal Cadet
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if you are a privileged banking customer have a dedicated relationship manager
ask your RM tell him will avoid the same condition again
you may get Refund
i have used this privilege in other Banking charges around 5 time in the last one year

Deal Cadet Deal Cadet
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meragoyou153 wrote:

if you are a privileged banking customer have a dedicated relationship manager
ask your RM tell him will avoid the same condition again
you may get Refund
i have used this privilege in other Banking charges around 5 time in the last one year

I don’t have bank account with Icici , so there is no chance to contact RM

Pro Shopping Friend Pro Shopping Friend
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sitapodila227 wrote:

I don’t have bank account with Icici , so there is no chance to contact RM

Call CC and talk
Tell them it was a mistake, if they do not budge place a request for cancellation
Negotiate on call if not full at least 50% less charges
We should always check in the card account or SMS that the amount is credited in Card account even if we paid full amount. CC is knife

Deal Cadet Deal Cadet
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ICICI Bank doesn’t budge even if you threaten to close Credit card.
This is I have seen in my own case and 2 friends.
In my case extra interest charges were levied despite bill payments well before due date.
I have Citibank, HDFC Bank and SBI Credit cards. With them I was able to get reversal of charges (overlimit, late payment) after just request to helpline.
ICICI Bank will rather go ahead and close your card rather than do any reversal.
This is my experience,  others may have different experience.

Deal Cadet Deal Cadet
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Mobikwik is the culprit in the entire episode , I paid 11000rs on nov 26th and the Mobikwik refunded the amount on dec 22nd for the failed transaction , I talked with cc , he told me that he is forwarding my concern to other department for reversal of interest charges , but he didn’t give any assurance for reversal , he told me to call cc again on Jan 1st , I have to wait and see whether the interest charges will be reversed or not

Deal Cadet Deal Cadet
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sitapodila227 wrote:

Mobikwik is the culprit in the entire episode , I paid 11000rs on nov 26th and the Mobikwik refunded the amount on dec 22nd for the failed transaction , I talked with cc , he told me that he is forwarding my concern to other department for reversal of interest charges , but he didn’t give any assurance for reversal , he told me to call cc again on Jan 1st , I have to wait and see whether the interest charges will be reversed or not

It will be reversed 99.9% if it’s your 1st time by genuine mistake.
My guess

Analyst Analyst
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I missed a payment of 2k difference once about an year back (cred <2k days). I realized it in the middle of next month cycle and called up customer. They waived off the interest charges but the GST part still went to government. I then had privileged account with ICICI, and IMO it shouldn’t matter. All that it may matter is your card usage/payment history with them.

Pro Shopping Friend Pro Shopping Friend
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andromeda wrote:

I missed a payment of 2k difference once about an year back (cred <2k days). I realized it in the middle of next month cycle and called up customer. They waived off the interest charges but the GST part still went to government. I then had privileged account with ICICI, and IMO it shouldn’t matter. All that it may matter is your card usage/payment history with them.

Even I did the same mistake with(HDFC CC) CRED when I failed to notice one 200x txn failed, found this 2k deficit next day of due date, paid instant thru HDFC netBanking, all went well, b’cos RBI allows 3days extra beyond due date.

Deal Cadet Deal Cadet
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Dealing with Icici customer care is very difficult , today I called 5 to 6 times to the Icici cc , finally one person told me that he will refund 2000rs out of 3400rs and call was cut in the middle and the next cc told it is not possible to reverse the interest charges , on 30th December one cc raised a request for reversal of interest charges and told me to call again on 1st January and Now they are saying there is no request number

Deal Subedar Deal Subedar
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sitapodila227 wrote:

Dealing with Icici customer care is very difficult , today I called 5 to 6 times to the Icici cc , finally one person told me that he will refund 2000rs out of 3400rs and call was cut in the middle and the next cc told it is not possible to reverse the interest charges , on 30th December one cc raised a request for reversal of interest charges and told me to call again on 1st January and Now they are saying there is no request number

Tweet dem

Deal Subedar Deal Subedar
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sitapodila227 wrote:

Dealing with Icici customer care is very difficult , today I called 5 to 6 times to the Icici cc , finally one person told me that he will refund 2000rs out of 3400rs and call was cut in the middle and the next cc told it is not possible to reverse the interest charges , on 30th December one cc raised a request for reversal of interest charges and told me to call again on 1st January and Now they are saying there is no request number

Always request for SR no.
Else the story will repeat with every new cc executive.

Deal Subedar Deal Subedar
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one thing which works is writing a good mail to nodal officer

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