Help Needed: Issue with ICICI Credit Card Payment - 13 Day Late Payment Reported and CIBIL Score Impact

[Dpk6200]

Hello everyone,

I’m seeking advice regarding a situation my friend is currently facing with ICICI Bank. Here’s what happened:

In April, my friend accidentally paid ₹1 less than the total due amount on their ICICI Bank credit card bill. This discrepancy occurred because one EMI was ₹1179.85 and the second last EMI was ₹1180.72, which made the total due amount ₹0.93 more.

Due to this small underpayment, the bank reported a 13-day late payment, and as a result, my friend’s CIBIL score dropped by 66 points. This seems like a harsh penalty for such a minor mistake, and my friend is quite stressed about the impact on their credit score.

Has anyone faced a similar issue or does anyone have suggestions on how to resolve this?​

1. Communication with ICICI Bank: Should my friend contact ICICI Bank's customer service to explain the situation and request a correction? If yes, what’s the best way to approach this?
2. Dispute Resolution: Is there a way to formally dispute this with ICICI Bank or through a credit bureau?

Additional Information:​

According to the Reserve Bank of India's guidelines, banks are advised not to report as delinquent any credit card accounts where the outstanding amount is less than ₹100. This could potentially mean that ICICI Bank's reporting of the ₹1 discrepancy may be incorrect. Has anyone had success in invoking this guideline in similar situations?

Any advice or shared experiences would be greatly appreciated!

Thanks in advance for your help!

UPDATE : ICICI Bank removed late payment in CIBIL on request, wrote several email till customer care head.

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[yusuf646]

@DocFixlt and @Vasuki 💀

 

[ashu99924]

Hi Guys, similar issue happened with me.. in March'24 I missed a ICICI credit card payment.. It was 500 rs. bill and I paid immediately as soon as realized. My cibil dropped from 790 to 721. Now my cibil report showing last reported date on 18 March 24 and yesterday 19th May24 my CC bill generated with credit amount (I cleared all late payments with interests). Today I checked CIBIL report but still it doesn't reflect, when it will be reflected? As I had checked with customer care, they told to wait for next statement generation and cibil is reported within 60days. I am worried because I am looking to start home loan process within a week time (property registration will be done on 25th May) and with such low score; I will be charge high interest rate. Please suggest.

 

[yusuf646]

Hi Guys, similar issue happened with me.. in March'24 I missed a ICICI credit card payment.. It was 500 rs. bill and I paid immediately as soon as realized. My cibil dropped from 790 to 721. Now my cibil report showing last reported date on 18 March 24 and yesterday 19th May24 my CC bill generated with credit amount (I cleared all late payments with interests). Today I checked CIBIL report but still it doesn't reflect, when it will be reflected? As I had checked with customer care, they told to wait for next statement generation and cibil is reported within 60days. I am worried because I am looking to start home loan process within a week time (property registration will be done on 25th May) and with such low score; I will be charge high interest rate. Please suggest.

You paid your credit card bill late, right? This means it will be reported as a late payment, which has already been done. So, what are you waiting for then?

 

[ashu99924]

Now since, I have made payment report should show current balance and amount overdue NIL right? Also score simulator shows if it's cleared my score should improve to 780. I have 13 years of credit history and never had a single late payment earlier.

 

[SSV]

Hi Guys, similar issue happened with me.. in March'24 I missed a ICICI credit card payment.. It was 500 rs. bill and I paid immediately as soon as realized. My cibil dropped from 790 to 721. Now my cibil report showing last reported date on 18 March 24 and yesterday 19th May24 my CC bill generated with credit amount (I cleared all late payments with interests). Today I checked CIBIL report but still it doesn't reflect, when it will be reflected? As I had checked with customer care, they told to wait for next statement generation and cibil is reported within 60days. I am worried because I am looking to start home loan process within a week time (property registration will be done on 25th May) and with such low score; I will be charge high interest rate. Please suggest.

ICICI is the laziest among the banks to report their accounts to CIBIL...
Dont worry your latest payments will be reflected in a months time... at times ICICI lags behind 4 months in reproting their account status... but they eventually report all the accounts.. you need to wait for another 30 days..

 

[yusuf646]

Now since, I have made payment report should show current balance and amount overdue NIL right? Also score simulator shows if it's cleared my score should improve to 780. I have 13 years of credit history and never had a single late payment earlier.

It'll only show overdue as zero. but the late payment will still there. How many days late payment has been reported in your CIBIL?

 

[ashu99924]

Its reported as 11 days. I am in tough situation now, as I am looking to start process my home loan on 27th May. I wish my score improves before that. Any way to expedite it? I already sent couple of emails to customer care earlier and they asked to wait till statement generation and said cibil report is done within 60days.

 

[ashu99924]

Today my score bounce back from 719 to 780. In cibil report showing ICICI had reported on 5may.. but Today only it reflected, so looks like it takes 20 days to reflect. Now i can apply for Home loan peacefully.

 

[sjmajumder]

What was the minimum amount due and what was the total amount paid on or before due date?

 

[ashu99924]

What was the minimum amount due and what was the total amount paid on or before due date?

Bill was 500.88 and minimum due 100.

 

[sjmajumder]

Hello everyone,

I’m seeking advice regarding a situation my friend is currently facing with ICICI Bank. Here’s what happened:

In April, my friend accidentally paid ₹1 less than the total due amount on their ICICI Bank credit card bill. This discrepancy occurred because one EMI was ₹1179.85 and the second last EMI was ₹1180.72, which made the total due amount ₹0.93 more.

Due to this small underpayment, the bank reported a 13-day late payment, and as a result, my friend’s CIBIL score dropped by 66 points. This seems like a harsh penalty for such a minor mistake, and my friend is quite stressed about the impact on their credit score.

Has anyone faced a similar issue or does anyone have suggestions on how to resolve this?​

1. Communication with ICICI Bank: Should my friend contact ICICI Bank's customer service to explain the situation and request a correction? If yes, what’s the best way to approach this?
2. Dispute Resolution: Is there a way to formally dispute this with ICICI Bank or through a credit bureau?

Additional Information:​

According to the Reserve Bank of India's guidelines, banks are advised not to report as delinquent any credit card accounts where the outstanding amount is less than ₹100. This could potentially mean that ICICI Bank's reporting of the ₹1 discrepancy may be incorrect. Has anyone had success in invoking this guideline in similar situations?

Any advice or shared experiences would be greatly appreciated!

Thanks in advance for your help!

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What was the minimum amount due and what was the total amount paid on or before due date?

 

[sjmajumder]

Bill was 500.88 and minimum due 100.

Actually I was asking the OP. In your case it is a completely missed payment. So the amounts doesn't matter.

 

[Dpk6200]

What was the minimum amount due and what was the total amount paid on or before due date?

It's EMI , total bill and minimum due is same, paid ₹0.93 less

 

[sjmajumder]

It's EMI , total bill and minimum due is same, paid ₹0.93 less

That's the problem. The MAD was not paid so it has been reported. Technically they are right. You can only request.

 

[spicedlatte]

Today my score bounce back from 719 to 780. In cibil report showing ICICI had reported on 5may.. but Today only it reflected, so looks like it takes 20 days to reflect. Now i can apply for Home loan peacefully.

You're lucky, I missed in Feb and cibil score shows last updated with bureau in Feb only. I don't know what ICICI needs to start reporting it again. I haven't seen such a lazy bank, quick to report missed payment but has no courtesy to report timely payments.

 

[ashu99924]

You're lucky, I missed in Feb and cibil score shows last updated with bureau in Feb only. I don't know what ICICI needs to start reporting it again. I haven't seen such a lazy bank, quick to report missed payment but has no courtesy to report timely payments.

Yes.. it was initially showing in my cibil report as well but later somehow late payment entry was removed somehow.