Regarding Late Payment Fee on ICICI Credit Card

Deal Subedar
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I have been charged 100 + 18 (GST) as late payment fee on my ICICI credit card on 15th Feb.

My due date is on 5th Feb and last month pending payment was 237.6. But on 21st Jan and 28th Jan, I was given cashback of 50.59 and 509.9. So I thought pending amount will get adjusted for this cashback.

But still I was charged late payment fee. When I called the customer care, they have asked me to send mail for the reversal of amount as they cannot do it from their end. I have been the paying the bill without any late payment from the month card was issued.

I have paid 237.6 on 16th Feb and sent mail for reversal stating I have been a loyal customer of icici for more than 11 years.

This was the reply I got:

Greetings from ICICI Bank.

Hope you and your loved ones are healthy and safe.

The total due amount for the month of January 18, 2021 was Rs. 237.60, due date was February 05, 2021.

However, we have not received the payment from your end and for the same the Late Payment Fee of Rs. 100+GST charged.

Even if the refund credited then to avoid the charges at least minimum amount should be paid which is Rs. 100.00.

Hence, the payment was no made before the due date and it cease to apply the late fee.

We value your relationship with ICICI Bank. However, based on the Bank’s policy, we regret to inform you that we are unable to reverse the charges levied on your credit card.

We request you to pay the outstanding amount before the due date to avoid the levy of further financial charges on your credit card.

Thank you for giving us the opportunity to serve.

Bank Digitally and Stay Safe!

Sincerely,

R Raju
Customer Service Officer
ICICI Bank Limited

Anything can be done for this?

31 Comments  |  
13 Dimers
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Min amount required to pay in this case (in case of cashback/merchant refund)

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Smiling wrote:

Min amount required to pay in this case (in case of cashback/merchant refund)

Oh ok. I missed it. Nothing can be done now?

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Talk over phone and threaten to close card highlightimg your long relation, not easy to email negotiate over email.

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undertaker007 wrote:

Oh ok. I missed it. Nothing can be done now?

Once same issue hapenned with SBI card, I spoked to Manager level and he reversed charges as 1 time activity. Policy is same for all banks.

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The thing is 100/- shouldn’t be big a deal considering the relationship/rewards with/from them, you may get a refund if you escalate. But it may have been already reported to CIBIL about not making the payment on time, and this will take a hit in your CIBIL, which will eventually restore.

I would say don’t worry much on 100/-, late payment charges I know are usually around 500+GST. If I’m in your situation and if it is denied even after escalation, I would consider it as a lesson and move on.

edit: I got the charges reversed when I made a payment of 2k lesser than the total due. I observed it later and immediately took it to their attention. I made the balance payment and the late charges are reverted. Not much questions asked. FYI my card relation with them is for about 7 years.

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srini1973 wrote:

Once same issue hapenned with SBI card, I spoked to Manager level and he reversed charges as 1 time activity. Policy is same for all banks.

Oh ok. I replied again to escalate. I will update once I get reply.

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andromeda wrote:

The thing is 100/- shouldn’t be big a deal considering the relationship/rewards with/from them, you may get a refund if you escalate. But it may have been already reported to CIBIL about not making the payment on time, and this will take a hit in your CIBIL, which will eventually restore.

I would say don’t worry much on 100/-, late payment charges I know are usually around 500+GST. If I’m in your situation and if it is denied even after escalation, I would consider it as a lesson and move on.

One more escalation. If it is also denied, I will move on. Thanks bro.

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jainashish85 wrote:

Talk over phone and threaten to close card highlightimg your long relation, not easy to email negotiate over email.

Sure bro. I will give it a try.

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andromeda wrote:

The thing is 100/- shouldn’t be big a deal considering the relationship/rewards with/from them, you may get a refund if you escalate. But it may have been already reported to CIBIL about not making the payment on time, and this will take a hit in your CIBIL, which will eventually restore.

I would say don’t worry much on 100/-, late payment charges I know are usually around 500+GST. If I’m in your situation and if it is denied even after escalation, I would consider it as a lesson and move on.

edit: I got the charges reversed when I made a payment of 2k lesser than the total due. I observed it later and immediately took it to their attention. I made the balance payment and the late charges are reverted. Not much questions asked. FYI my card relation with them is for about 7 years.

Problem in my case is I didn’t pay minimum due. Because total due itself is 237.6 only.

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undertaker007 wrote:

One more escalation. If it is also denied, I will move on. Thanks bro.

Usually, they don’t ask to send email for reversal, they settle over phone. Better talk to their care again, it is likely you will talk to another rep. Do not mention about the email etc…just straight to the point and the reason(excess cashback) why you did not make payment.

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andromeda wrote:

Usually, they don’t ask to send email for reversal, they settle over phone. Better talk to their care again, it is likely you will talk to another rep. Do not mention about the email etc…just straight to the point and the reason(excess cashback) why you did not make payment.

Sure bro. I will call again tomorrow.

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Ask and argue with them not to report to CIBIL, forget about 118/-
there were many similar cases with other dimers
If they don’t agree just close the card and teach them a lesson being loyal customer.
You can take card again if you want – not an issue

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Just ask them this: what if you make a big purchase >1L before the billing cycle and the merchant cancels it after the billing cycle? are they going to still ask you to pay >1L? what happens to the excess funds? are they going to pay you interest at the same 3.6% per month until they transfer the excess amount back to your bank or you use up the credit balance?

Demand a written answer to the above

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menino.dcruz wrote:

Just ask them this: what if you make a big purchase >1L before the billing cycle and the merchant cancels it after the billing cycle? are they going to still ask you to pay >1L? what happens to the excess funds? are they going to pay you interest at the same 3.6% per month until they transfer the excess amount back to your bank or you use up the credit balance?

Demand a written answer to the above

Thanks bro.  It’s a valid question.

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caks2006407 wrote:

Ask and argue with them not to report to CIBIL, forget about 118/-
there were many similar cases with other dimers
If they don’t agree just close the card and teach them a lesson being loyal customer.
You can take card again if you want – not an issue

Sure bro

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ICICI bank Ha Ha Ha, the same was done to me 05 years back, I had payed whole amount and closed my credit card and since 02 years I was getting repeated calls and offer for issuing fresh credit card which I denied, but this very month they offered me Sapphiro (amex) highest ICICI bank card LFT with good limit which i accepted and was delivered to me last week.

If you do have other bank credit card use them…

and threaten to close the card may be you can get better offer from ICICI

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menino.dcruz wrote:

Just ask them this: what if you make a big purchase >1L before the billing cycle and the merchant cancels it after the billing cycle? are they going to still ask you to pay >1L? what happens to the excess funds? are they going to pay you interest at the same 3.6% per month until they transfer the excess amount back to your bank or you use up the credit balance?

Demand a written answer to the above

As per general CC policy, you have to pay the amount mentioned in the bill (or min amount). Later deal with the negative balance due to cancellations or cashbacks.
Have you asked this question and got an answer? Will be good to know.

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Icici customer care is good atleast in mine case. I had 2 debit card issued and running in saving account. Got to know while checking statement and mailed them 2 days ago and today they blocked and refunded the debit card charges without hassle.

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menino.dcruz wrote:

Just ask them this: what if you make a big purchase >1L before the billing cycle and the merchant cancels it after the billing cycle? are they going to still ask you to pay >1L? what happens to the excess funds? are they going to pay you interest at the same 3.6% per month until they transfer the excess amount back to your bank or you use up the credit balance?

Demand a written answer to the above

https://www.icicibank.com/managed-assets/docs/p...

No merchant refund/cashback/credit due to transactions converted to EMI / cancelled
transactions / reversals / promotional cashback will be considered as a payment
towards the outstanding of the card.
In case card member makes an excess payment compared to the outstanding of the
card, there will be credit balance in the card account. This will be adjusted against the
subsequent transactions on the card. However no interest can be claimed on this
excess credit amount.

This is what one agrees for when the card is taken/issued. Based on the value of credit left, they may agree to take it to bank account based on the policies as on date.

@undertaker007 @ontherocks

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caks2006407 wrote:

Ask and argue with them not to report to CIBIL, forget about 118/-
there were many similar cases with other dimers
If they don’t agree just close the card and teach them a lesson being loyal customer.
You can take card again if you want – not an issue

I know of a friend who closed HDFC savings account due to MAB issue or something which i don’t exactly recollect. It’s been 3 years and he is not able to get a hold of any HDFC CC. It is always rejected.

I’m not sure with ICICI, but closing a card citing against the agreed terms may put a red flag against the customer. If one is not dependent on their services, it should not be an issue though.

@undertaker007

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andromeda wrote:

I know of a friend who closed HDFC savings account due to MAB issue or something which i don’t exactly recollect. It’s been 3 years and he is not able to get a hold of any HDFC CC. It is always rejected.

I’m not sure with ICICI, but closing a card citing against the agreed terms may put a red flag against the customer. If one is not dependent on their services, it should not be an issue though.

@undertaker007

risk involved.
Like my citibank never enhanced limit in last 10 years just because I scolded them when they called 2-3 times for LE, those days more limit means more risk
OPs case is genuine and simple though its a mistake.
Its a choice between revenge and facility OP has to decide

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menino.dcruz wrote:

Just ask them this: what if you make a big purchase >1L before the billing cycle and the merchant cancels it after the billing cycle? are they going to still ask you to pay >1L? what happens to the excess funds? are they going to pay you interest at the same 3.6% per month until they transfer the excess amount back to your bank or you use up the credit balance?

Demand a written answer to the above

I have tried contacting CC again via phone and told about this scenario as well, but they are saying even in that case I need to clear the 1L amount if the reversal happens after bill generation. Then CC checked for late payment reversal option, but it is not there. I have asked to connect to cibil team for checking the issue, but call disconnected. Then I called again and asked in the beginning itself to escalate. But still CC gone over the issue again and was not willing to connect to supervisor at all as she was telling that even supervisor will tell the same. Then finally she agreed and put me on hold for another 5 min and finally connected with her manager. Unfortunately all the CC I spoke were ladies and they kept on saying its not possible to revert. Even the manager is also a lady, she said she is trying to revert, but system is refusing. I told her cashback is getting adjusted in Total Outstanding and in my Credit limit, why can’t its getting adjusted in pending payment. She is saying cashback/reversal will not be adjusted. Then I told her I have been a customer of 11 years and I hold 2 CC and 1 Salary account. When I said, I will cancel both credit cards and salary account, initially she said sorry and please continue to use and it will not happen in future. Later she asked me to clear the outstanding amount and call back again for cancellation. I got frustrated and disconnected the call.

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Regarding Cibil, she said as the payment is already done, it will not impact credit score. And it will increase over a period of three months. She didn’t understand the query I guess. I am not sure whether one late payment gets added in CIBIL.

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undertaker007 wrote:

Regarding Cibil, she said as the payment is already done, it will not impact credit score. And it will increase over a period of three months. She didn’t understand the query I guess. I am not sure whether one late payment gets added in CIBIL.

They don’t report instantly.  Sometimes they take 3 months time too. So no worry if you miss once but make sure it’s not continuously for 3 months.

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rockingneo wrote:

They don’t report instantly.  Sometimes they take 3 months time too. So no worry if you miss once but make sure it’s not continuously for 3 months.

Thanks bro..I will take this a good learning lesson for me. Independent of any cashback/reversal/refund, I need to do the pending payment.

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Only sad thing was ICICI CC was so adamant in reversing pensive I cannot cancel the cards also as I have few pending cashbacks in my credit cards.

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makeourdeal wrote:

@undertaker007 I have been in similar situation and I got charges reversed. Don’t waste your time with the first level customer care executive. Directly send an email to nodal officer.

https://www.desidime.com/discussions/beware-of-...

Thanks a lot bro for sharing this thread. I have created a Level 1 Grievance. Once it is rejected, I will put the SR number to Level 2 Nodal Officer.

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I have sent below as reply to the first mail:

Can you escalate it to your supervisor? I am not happy and satisfied with your reply.
If the reversal is not going to happen, I will stop using your credit card from next month.

For that I got reply as below:

Greetings from ICICI Bank.

Hope you and your loved ones are healthy and safe.

We value your relationship with ICICI Bank.

At ICICI Bank, we believe in providing the best of services to our customers. We provide customers with easy access to information, products and services, as well as the means to get their grievances redressed.

If the resolution provided does not meet your expectations, you may escalate the issue to the next level. Steps given below will take you to our Grievance Redressal Cell:

Visit our website www.iciciba...om _ compliments and complaints_ Send a complaint_ Click on Step 2 and enter the details to submit the grievance.

Please note that you will receive a response within 10 working days of receiving your communication.

We seek your co-operation in helping us adhere to safe banking practices.

Bank Digitally and Stay Safe!

Sincerely,

Viraj
Customer Service Officer
ICICI Bank Limited

I have already created a complaint. Will update this thread once I get a reply.

Missing