ICICI
Unfair Late Payment Fee

Hi,

I and my husband always had a good relationship with ICICI and never had any complaints. This time I did not pay an outstanding amount of 200 Rs, it was delayed by 10 days for which ICICI has charged me 400 Rs as late payment fee. That too for a platinum card. Upon calling up customer care they say that they dont have any formula for calculating late payment fee. Does it mean late payment fee is 200% of the outstanding amount? Is this really fair? This happened to me for the first time. My husband holds the card for many years it never happened to him even though he sometimes paid late. Now we both have decided to cancel all our relationships with ICICI. Guys think before you get a credit card from ICICI.

Regards,

Shwetha