Hello I failed to pay rs750 Cc bill by two days short of due date and for that they charges high amount of 1185 including GST as auto debit charges (450+gst)and late payment (500+gst) which seems high than bill amount.
the Cc is not refunding the charges as I am not aware of these charges and didn’t receive mail or on site..
is there a way I can escalation and revert the charges
It is your mistake if you failed to clear the dues in time and bank can add charges for late payment etc directly to the card. Best bet is to request the customer care to revert the charges saying that you forgot about the bill and this will not happen again, so they might make 1-time exception
That’s ICICI’s standard penalty. You are generally not notified of penalty charges, you’ll only see them on your statement once charges are levied. If you have a good relationship with ICICI, you can call their CC, and ask for charges to get reversed, based on your track record. Ordinarily they indulge, but on some occasions, they don’t get the option on their systems, and can’t reverse it. In that case, they’ll advise you to call back 6 months later and see if that charge can be reversed.
for this moment only the bank was waiting for
Banks Can give you 3 Days’ GRACE PERIOD After your Due Date and then only you can be penalised! This is RBI New Rule
If you are ready then go and make a complaint to Banking Ombudsman!.Only After this date, they will inform the Credit Agencies Like CIBIL that you delayed their payment.
Its Like they are giving you 3 extra days,in case you missed your payment.
Read here https://www.desidime.com/discussions/credit-car...
shraaj wrote:Banks Can give you 3 Days’ GRACE PERIOD After your Due Date and then only you can be penalised! This is RBI New Rule
If you are ready then go and make a complaint to Banking Ombudsman!.Only After this date, they will inform the Credit Agencies Like CIBIL that you delayed their payment.
Its Like they are giving you 3 extra days,in case you missed your payment.
Read here https://www.desidime.com/discussions/credit-car...
thats good to know..but still they are not giving damn.let see
Late payment is logical. But why autodebit charges? Did you activate autodebit and then failed to keep enough balance in your account for the debit to happen?
shraaj wrote:Banks Can give you 3 Days’ GRACE PERIOD After your Due Date and then only you can be penalised! This is RBI New Rule
If you are ready then go and make a complaint to Banking Ombudsman!.Only After this date, they will inform the Credit Agencies Like CIBIL that you delayed their payment.
Its Like they are giving you 3 extra days,in case you missed your payment.
Read here https://www.desidime.com/discussions/credit-car...
Its not really a new rule, but a 2015 order. But whatever, I had same understanding until few months back, when a HDFC cc guy told me this applies ONLY to late fees, and not interest part. So in case we pay 2 days after due date, late fees can be reversed, but interest will apply from the date of txn. I thought that guy had me fooled, but after a bit of searching, turns out, he was right. So its totally upto their rehem to take our reversal request!
Here is RBI order – point #3 - Its says ‘penal charges’ only (penalty like late fees etc) and nothing about ‘finance changes’ (interest amount):
https://www.rbi.org.in/Scripts/NotificationUser...
Another reference from Citi Bank’s website – it mentions this RBI rule only in ‘late fees’ section:
https://www.online.citibank.co.in/blog/citi-kno...
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