ICICI CC late payment charge with 0 outstanding.

[sandeepkm]

Hello Community,
I have ICICI Amazon credit card. In 23, December 2023 there was an auto debit by Amazon for INR 250, but the product was not needed and I returned the product. Statement was generated for 250 on 28 December, and the refund was done on 31st.

There was no other dues on the card after 31st, so I did not made any payment against Dec statement, considering 0 outstanding.

On January 25th, they applied a late payment fee of INR100 with extra gst. I called customer care and they mentioned that it will be reversed, but after few days I got a call from ICICI Operations and they mentioned that can't reverse it as payment was mandatory and refund is not considered as payment. To escalate it further they asked me to send an email to headservicequality@icicibank.com, which I did on same day.

On the email I got a response yesterday 7th Feb 24, that they are looking into it and it will take some time.

Today, I checked my Cibil and it was showing the late payment on the credit card and caused my Cibil to drop by 39 points which is now 720.

All of this just because there were no outstanding on my credit card.

What should I do to get these issues corrected. Please suggest.

Thanks in advance.

 

[Shoxie]

Well, I think since you've escalated, the bank will most likely refund the charges and the cibil report will also be corrected.

If not the above, then at least the bank will agree to remove the cibil report on a goodwill basis.

However, even if there is a refund/cashback credit, it is always advised to pay the minimum due at least, so that issues like these don't occur.

 

[s1t2y3a3m6]

Wait for their response, I hope they removed late entry and refund late charges.
If they denied to do so then filed RBI ombudsman with desired compensation of yours. RBI guidelines clearly mentioned refund from source to be confirmed as a payment to account.

 

[panchabhut]

As per my experience, most Indian banks treat transaction reversal as separate from payment and insist that minimum payment amt as depicted in the stmt must be paid. Have seen complaints by people of same practice by SBI, ICICI, Axis & HDFC. Amex, HSBC & Citi used to treat them as payment but now that Citi has been taken over by Axis, not sure how it will be.

 

[romilq]

Even though RBI guidelines are clear that refunds have to be counted as payment, many banks are not following this. You need to pay the billed amount even if you get a refund before due date. Contact bank at all levels and cite this guideline. If they don’t refund and correct the CIBIL entry then escalate to RBI.

 

[#aniket]

Bro you're absolutely correct, it the reversal of charges and correction in CIBIL is not done in reasonable time then, raise your concern with Banking Ombudsman, ask compensation too.

 

[sandeepkm]

Thank you everyone for your replies.

I got the refund from them, but don't know how much time they will take to report the correction to CIBIL.
I was going to apply for upgrade my Diners Club Miles CC to Infinia, now I don't know what they will do with my CIBIL of 720. 😭😭😭

 

[#aniket]

Thank you everyone for your replies.

I got the refund from them, but don't know how much time they will take to report the correction to CIBIL.
I was going to apply for upgrade my Diners Club Miles CC to Infinia, now I don't know what they will do with my CIBIL of 720. 😭😭😭

How much time was stated from the bank?

 

[sandeepkm]

How much time was stated from the bank?

No communication regarding time due to weekend. Will wait for their reply till Tuesday.

 

[#aniket]

No communication regarding time due to weekend. Will wait for their reply till Tuesday.

Ok bro, keep us updated too.

 

[sandeepkm]

Finally, ICICI raised a SR for CIBIL on 28th FEB and CIBIL got corrected on 4th March.

Now I can proceed with my INFINIA upgrade 🙂