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Last Updated: August 8, 2015  790 views

Why you should not use ICICI credit cards?

in: India

ICICI_CreditCards.JPGEven without doing any transaction through my credit card last month, today I got my credit card statement with some interest charges. ICICI credits cards have become big source of income for this bank. They charge hidden service taxes, huge interest rate, change their policies and plans without informing the customers. I will never forget the face of that agent who suggested me to go for ICICI credit cards. He told me it is life time free, so many offers are there, 55 days credit free period, very low interest rates. Now I realized that everything that was told to me was fiction and we all know “Truth is stranger than fiction”. I am facing the truth of that credit card.

Let me tell you some unknown and hidden facts about the ICICI credit cards.
1. Maximum credit-free period is only 48 days. The credit card agents will tell you 55 days which is wrong.
2. Late payment charges are 30% of minimum amount outstanding (Minimum Rs. 400/- and maximum Rs. 600/-).
3. If you want to do cash payments at bank branches for credit card dues, then you will have to pay extra fee of Rs. 100/- per transaction.
4. If you lost your credit card then you will have to pay Rs. 100/- for getting new card.

What is your opinion now about ICICI credit cards? Do you own it? Share your experience.

  • 1

    Hi Abhishek, I am also using the icici titanium credit card since last one year, but i have never encountered this kind of problem. I think there must be some delay in the payment, that’s why the bank has charged you.
    I also want to clear few things about these credit cards the maximum credit period given is 52 days, neither 48 nor 55. It might be possible that agent have falsly communicated to you.
    And about this Rs. 100 charged for cash payment of credit card, this policy is being adapted from the CitiBank, largest US bank. The main concept behind this is that they want to minimze the human work, while the bank has given online facality t pay the Credit card bill, why to go at the branch..?? Most of the banks are adapting this policy these days like icici and hdfc.

    atul on August 24th, 2008
  • 2

    Why do we need CC?
    We all know it has few positive sides and lots of negative sides then why more and more people are going in for CC.
    Is it just because few of your friends are using it.

    Bhargav on August 25th, 2008
  • 3

    on 9.48 pm 18 oct 2008 sunil gaikwad wrote:

    I have been alloted a gold credit card last month but
    it has been despatched on 4 oct 2008 from mumbai to pune
    but still not received. when I tried calling your hlp line no. the representative says that it has been depatched. does it take more than 15 days to receive from mumbai to pune.

    sunil gaikwad on October 18th, 2008
  • 4

    so for clarifications pls free to call me on 9823979557

    sunil gaikwad on October 18th, 2008
  • 5

    Hi Abhi. I also own an ICICI credit card. I recently booked a couple of railway tickets, using my card for an amount of Rs. 1372.26, which was a mistake as i could have used my debit card for the same. Any ways, i forgot the due date & paid the amount by cheque a day late, then i received my e-mail statement saying that my due date had passed, so i promptly put a cheque for the due amount, which was Rs.571.92. After a month, i got another e-mail for an amount of Rs.1049.45, and a few days back i got another statement for an amount of Rs. 1500+. What i dont understand is, where is the cheque that i put in the ATM drop box, why there is no comment about that any where, or is it that they just want to go on increasing the amount by adding Rs. 500+ every month & screwing the peace of mind of the card holder who was naive enough to get it in the first place. This is one experience which will remain unforgettable, i still curse the day i gave my documents for a life time free credit card.

    Akbar on January 23rd, 2009
  • 6


    Whatever you have mentioned as ‘hidden truths’ are not like that exactly. All these terms are well defined in their Terms & Cond. If anyone doesn’t take care of that and go ahead with what agents tell, then it becomes really ‘ HIDDEN ‘.

    Sai on June 22nd, 2009
  • 7

    Hi Abhi,

    even i am using ICICI credit card from last 3 yrs and i never faced thse kind of problems. Infact i feel ICICI gives very good services, even their customer care is very helpful and online money transaction is so easy with them.
    just keep in mind you payment date, if you’ll ba late, offcourse you would have to pay but other than that there are no hidden charges as such. i ma using it successfully and really happy with their services.

    keep posting.

    ruchira on October 29th, 2009
  • 8

    I agree with all those unhappy with the services of icici credit cards. If you copy a particular process from some western world country, that doesn’t mean that it is correct. there are different parameters for every country.

    I would like to share some of the charges levied by icici credit cards
    1 Late payment fee min of Rs 400, whatever be the outstanding.
    2 Cash deposit penalty of Rs 100, if pay the bill by depositing cash.
    3 If you have Rs 12761/- as outstanding and you pay Rs 12750/-, then in the next cycle you pay interest on the whole outstanding of Rs 12761/-
    4 Charge for new card.

    My experience and the experience of all my friends and relatives says ICICI Bank is not a good bank.

    Arun on July 1st, 2010
  • 9

    Hi abhi,
    As far as ur CC is concerned u have not made ur payment on time and hv been chrgd intrest and ur mad with icici and When u have an outstanding balance u start paying intrest and once u pay the entire amt of that balance there is a resedual intrest chrgd frm the day last stmt was generated till the payment made in full. If this not the case and ur right sue the bank nuthead.

    Hey Akbar,
    Who is asking u to keep the damn CC if u curse the day u gave the doc for one just cut card and inform u wish to close the account.

    Hey Bahrgav,
    If u dont want one fine dont ask others y do they need it. It’s convenience i prefer as and the points benefit me also if u can’t get the logic of a CC then visit the bank or their website.

    Hey Rest of u all,
    CC can be used the way u want and wen u want but remember its not ur money its theirs If u can not be responsible enough to pay it back on time dont blame the bank for ur doings,
    all bank hv policies procedure terms condition u hv to read them they will not read it for u.
    Half knowledge is dangerous.

    Stan on December 16th, 2010
  • 10

    Can anyone tell me how to set up an auto pay for an ICICI credit card through other bank accounts. I have registered all my other credit cards for auto pay , but in the case of ICICI credit card it appears that the facility is available only if you have an account with ICICI bank.

    An ofcourse if you miss the date it is a nightmare!!!

    Kasturi on August 9th, 2016