The telephone executives sweetly tell you when you query regarding the late fee, interest etc.,'Sir please make the full payment and the same will be reversed in the next statement'. In the next statement you will find only the late fee reversal. Again you call them they will say that you pay this amount too we will reverse it in your next stt. After three four transactions, they tell you what all the bank has done for you and shift the blame on you for not paying despite the bank being so considerate to you. The fault started with them. One has to go thro' the statement carefully otherwise you will be taken for a sweet jolly ride. The above mentioned episode happened to me and I kept a small amount pending for later reconcillation and asked them to deactivate my card.
RE:New way to make Bank profitable.
by vijayan nair on Feb 06, 2007 10:50 AM Permalink
I agree with Mr. Ramamurthy's statement "One has to go thro' the statement carefully otherwise you will be taken for a sweet jolly ride"
I hv a due in my card which I was not paying,as usual the agents came to my house in my absence,i told my father to send the agents to the local tea stall where they cd find me,my friends & me gathered there earlier,the agents were dealt with in the most severe way,after this till now no one has harassed me
RE:goons/collection agent
by Truth Teller on Feb 06, 2007 12:00 AM Permalink
This seems so funny Mr. Samrat. You admit that you were not paying and telling a wonderful story to support it. When you didnt pay, was it your mistake or the banks mistake. No wonder banks employ goons to collect money. Just imagine what would have happened, if the bank had sent police instead of goons to your place.
RE:RE:goons/collection agent
by bibhanshu shekhar on Feb 06, 2007 06:55 AM Permalink
Well the dont the Bank charge close to 40 % as the interest rate since it is an unsecured loan. SO dont be surprised if some of the customers takes u Guys(bank) for a ride. Just wait for the day when stricter norms are implemented in india and then u guys will see ur honeymoon period going for toss.
RE:RE:goons/collection agent
by vijayan nair on Feb 06, 2007 11:03 AM Permalink
Its easy to keep a goonda for the bank, but keeping a Police very difficult they will eat the Bank itself. This reality very well known to the Bank, that%u2019s why.
I see so many charges against ICICI Bank, I am in a worse sitaution. I took a car loan from Standard Chartered Bank and this busiess was sold to ICICI Bank so I became their victim. They refuse to send me any statement about my interests paid or anything else. How can I get out of their clutches.
RE:ICICI Bank
by savithri kalidhas on Feb 05, 2007 07:03 PM Permalink
hello, we filed a case against standard chartered bank in the consumer complaints cell and even filed a detailed report on thier illegal demands regarding our credit card in the court. if you want you can email my husband at kalidhasmathu@yahoo.co.uk and he can make a few suggestions which might be useful to you. regards, savithri kaidhas
The wise obviously stay away from ICICI credit cards. In my case, they cd not set right the excess billings for 4 months in a row and yet the collection ladies wd keep worrying me on the phone. One of them even had the audacity to send a collection agent before the due date to "gherao" me. I put my foot down, had them deduct all excesses and threw the cut pieces of he card into their face ! One senior ICICI official confessed: This Bank has grown too big in too short a time and all control systems have floundered. You are not alone in being hassled." I am 100% happier with out their cards. SS Kumar
RE:Invite disaster with ICICI credit card
by Yogi on Feb 05, 2007 10:17 PM Permalink
Please dont generalize like this...ICICI credit card may be a pain in a few odd cases but for millions including myself is a blessing...There are so many beautiful things in life I couldnt have managed without an ICICI credit card..They are still the best managed credit card company in India...A few odd cases and the people and Rediff are ever ready to bash the banks.. The banks are a part of our society...Credit cards gives u lakhs of rupees with an interest free period from 40 - 60 days...Moreover many other Internet and Overseas purchases can be done.. I would have faced a tough time taking an ordinary loan from a bank...My life runs on credit cards..An average American uses 7 credit cards..I dont see why should India be so against them.. Banks cant allow people to walk away with the money and in the process create difficulty for some innocent people but this not be seen as a wrong system all together...We should try and help the banks peform better by highlighting our concerns and problems.. Throwing away the card is a lack of matured behaviour...
RE:RE:Invite disaster with ICICI credit card
by Rajiv on Feb 05, 2007 11:07 PM Permalink
Congrats yogi, You are one out of trillions who has not been harrassed by ICICI Bank.My deepest regards to u.
RE:RE:RE:Invite disaster with ICICI credit card
by Alpana Chakravarty on Feb 06, 2007 12:18 AM Permalink
Rajiv, Yogi is obviously an employee/associate of ICICI Bank. Otherwise, who in their right senses would take up their case. It is one of the worst managed banks around.
RE:Invite disaster with ICICI credit card
by Ankit Choudhary on May 10, 2007 07:38 PM Permalink
Yogi is an ICICI bank ass kisser. I don't have a credit card,neither do i need one( don't approach me YOGI). ICICI is one disorganised,useless,money eating, life sucking bank.Unfortunatley people are under the impression that it's a good bank,please wake up and smell the coffee! U can't call the same person twice in the bank, their executives are harassed and shouted upon by many customers, this forces them to leave.Trust me, it may be employing good people but these people leave real real soon. I'm never getting into ICICI's traps.
RE:RE:Invite disaster with ICICI credit card
by Anurag Shukla on Feb 06, 2007 06:10 AM Permalink
Average American cannot live without Credit Cards. 67% of American GDP is Public Debt. All is not rosy as it seems. The days are very near when the Dollar will fall and then people will Cry out loud, why no one informed them. So, please don't give examples of American Using 7 Credit cards. If you understand Hindi, then read this 'Pair (legs) utna hi failana chahiye jitni chaadar ho'. This does not means that you don't take loans. But you need to be diligent while take any money on Credit. Every one is here to make money. If you don't watch your back, then these credit Card companies will steal everything from you. You say about America. Read the business tactic of Capital one and how they make money. It is just one example how a consumer is screwed.
My brother-in-law returned his ICICI credit card three years back clearing all his dues but he is still receiving monthly bills for yearly charge, non-payment charge etc and the bill has grown to Rs.24000/-. He talked with CC people several times, but that could not stop him receiving the bills
I have a credit card with HDFC but I have been paying up my dues on time so no much late charges and penalty over a 4 year period though I can remember a couple of times when it has been done. But my biggest problem is when they lock a certain % of my limit and dont allow me to use it. I was put in a bad spot of bother because as the call centre guy said there was a "hold on my funds" even though I was ~ 30K from completing my limit. It was a desperate situation in a hotel and I had to catch my flight back home. If I had known this ombudsman I would have surely taken up this matter !!
the problem is both ways - right the banks have no right to do extortion, but they should also not distribute creditrs cards like sweets.
secondly there is strong need now to form a union of card holders to avoid such harrasment.
i would also like to point out that users should be more careful in taking the credit cards, they can rather use debit cards for cash less transactions.
I had the same expereince with the ICIC Bank Credit Card.. For the Last eight months I am running pillar to post to get my A/Cts settled , but In no vain. Whenever some money is coming to my ICICI saving bank A/C they are auto debitting and again they asking for more money . My due of Rs.6000/ has grown upto Rs.24000/- because of interst cumilating every month. I have even approached their head office for settlements but no senior officers talked to me. Daily dome or the other calls are coming from their agents asking for money. I am asking for settlements but with no success. Even I approached their advocates for settlemntent , but they kept queit , when they auto debitted the money from my A/Cts. I am in great trouble. Please can any body help me. Shafiquer Rahman 09891179164
RE:Same Experience here
by Prof. Tejinder Singh on Feb 05, 2007 04:19 PM Permalink
File a complaint with Banking Ombudsman online. I had a similar problem with HDFC bank. I filed the case and within 7 days not only the charges were reversed but even the account was closed.
RE:RE:Same Experience here
by shafiquer rahman on Feb 05, 2007 05:36 PM Permalink
Pof. Tejinder singh can you tell me the website of the banking ombudsman online or is it the same mentioned above Thanks Shafiquer Rahman
RE:Same Experience here
by vijayan nair on Feb 05, 2007 05:24 PM Permalink
Open a New Saving Bank Account with other Bank. Close the Account if required from which ur money auto-debiting or do not deposit any money on that account. I think this will solve ur problem.
RE:Same Experience here
by Deepak Vasudevan on Feb 05, 2007 04:20 PM Permalink
Write to headservicequality@icicibank.com to have the issue sorted out asap. Check out Arjun's weblog where each second one user reports ICICI menace: http://www.arjunprabhu.com/blog/archives/2005/04/27/icici-bank-a-bad-experience-for-many/
Yesterday only a man from ICICI took my signatures for a credit card. I blindly signed everywhere. Now I am in trouble according to the above article and the views posted here tht ICICI is a goonda bank.
Had this article came yesterday I would have been saved.
RE:Alas !
by Prof. Tejinder Singh on Feb 05, 2007 04:20 PM Permalink
When the card comes, do not use it and call the bank's helpline to cancel the card.
RE:RE:Alas !
by Truth Teller on Feb 06, 2007 12:13 AM Permalink
What an irresponsible answer Prof. Tejinder Singh. How could you give an open view to a person, not to use a credit card for which he has signed, and that too of an well acclaimed bank. This is the biggest problem in our country. People just fall for the word "credit card", and if some marketing agent offers him one, he would sign without reading the terms and would go for it. But that doesnt mean that ICICI is bad or that he should cancel his card. Well Mr. Pankaj... I have a suggestion for you. If you remember that you had not given any of your bank account information in the application, then you can surely use the credit card. As mentioned by another rediff user, an average american has atleast 2-3 credit cards and using credit card is mandatory here to build credit history. But even here in US, we have to pay the money before due date. So likewise... go for the credit card. Use it. Then pay the due before due date. Dont make late payments. Then no goondas would be at your door.
RE:RE:Alas !
by N Venugopal on Feb 06, 2007 10:25 AM Permalink
Do not sign on the back of your credit card. If you sign then only it is equal to accepting terms and condition. cut the card in to four pieces to avaid some one using ur card return to the sender address with a written application for cancellation. Also take xerox copy of the all the document you are sending.
RE:Alas !
by Deepak Vasudevan on Feb 05, 2007 04:22 PM Permalink
Let the card come and then close it promptly. Don't close it beforehand since couriers would play foulplay. I had a bad experience with ExpressIT courier and many others in Chennai. See my weblog for details: http://viewsreviews.wordpress.com/2007/02/04/expressit-courier-and-credit-card-felony/
RE:RE:RE:Alas !
by Samir Rao on Feb 05, 2007 07:27 PM Permalink
Hi Pankak, Samir here... I work for an international bank called which is in US. First question from you is a) Can I cancel the card? Ans = You can cancel the card any time even if your application is not processed by taking a reference number. b)Is ICICI credit card really a threat? Ans = Its not that ICICI credit card is a threat but a credit card itself is a threat. You can keep the card for yourself without using it. You can use the card in an emergency situations. But make sure that if you lose the card, then cancel it ASAP.
