My ICICI CC bill date is 2nd, due date is 20th.
I had 50k due, around 22k minimum. Lately I been paying minimum since the full bill is bit too high. I'm in between move, career shift etc. I'm not a salaried employee, I'm a freelancer. I don't have a lot of liquidity, so even though I prefer to pay full, situation forces me to pay only minimum.
This month there is quite a bit of expenses and I been juggling funds when ICICI contacted on 11th telling me saying I can convert balance (not transaction) to EMI. 0% processing fee. I opt for it and whole 50k balance was converted to EMI (including minimum due). The 1st emi with interest already posted which will be billed on next 2nd.
I kept getting minimum due reminders by 20th. So on 18th i contacted customer care, and after a lot of back and forth they admitted that the system should not have converted whole balance and minimum is expected. But due to technical limitations on their end whole amount was converted and system will still except minimum. Essentially forcing me to double pay on top of paying interest for the minimum amount that was converted to EMI.
I had told that was unacceptable and i don't have funds now as I had used funds for other expenses once I got confirmation whole balance was converted to EMI. I was put on hold and the rep came back and told me to pay as much as possible and any late fees and intrest on the amount converted to EMI (minus the GST) will be refunded.
Come 20th i keep getting calls from collections that i have missed payment and that my card will be blocked and I'll be reported to CIBIL and that i should make immediate payment to prevent card block. No response to all my attempts to contact.
To put things to perspective I had zero late or missed payments till date. There is no record of it on my CIBIL. Moreover, I had not missed the payment, they converted whole do, including minimum, to EMI. Their outdated systems are not interconnected and the humans overseeing it are being intentionally dishonest.
What options are there for me? I don't get any funds untill next month. I don't have family i can borrow from either. I shouldn't have to pay minimum as minimum is already included in the EMI, but I don't even have option to feed their broken system.
Do i have to file a complaint with RBI ombudsman? They converted whole bill balance (including minimum) to emi and they acknowledged this on the 18th admitting it's system issue and that it should have only converted balance after minimum to EMI but their system converted whole bill and to rectify they'll refund late payments fes or interest charged and to make timely payments from next billing, but now collections ignoring that acknowledgement and harrassing me. Since that acknowledgement was over phone I don't have e-mail proof nor voice recording for a legal recourse. All I can say is they acknowledged it and offered solution on 18th. They can easily screw me over by denying it.
What to do?
I had 50k due, around 22k minimum. Lately I been paying minimum since the full bill is bit too high. I'm in between move, career shift etc. I'm not a salaried employee, I'm a freelancer. I don't have a lot of liquidity, so even though I prefer to pay full, situation forces me to pay only minimum.
This month there is quite a bit of expenses and I been juggling funds when ICICI contacted on 11th telling me saying I can convert balance (not transaction) to EMI. 0% processing fee. I opt for it and whole 50k balance was converted to EMI (including minimum due). The 1st emi with interest already posted which will be billed on next 2nd.
I kept getting minimum due reminders by 20th. So on 18th i contacted customer care, and after a lot of back and forth they admitted that the system should not have converted whole balance and minimum is expected. But due to technical limitations on their end whole amount was converted and system will still except minimum. Essentially forcing me to double pay on top of paying interest for the minimum amount that was converted to EMI.
I had told that was unacceptable and i don't have funds now as I had used funds for other expenses once I got confirmation whole balance was converted to EMI. I was put on hold and the rep came back and told me to pay as much as possible and any late fees and intrest on the amount converted to EMI (minus the GST) will be refunded.
Come 20th i keep getting calls from collections that i have missed payment and that my card will be blocked and I'll be reported to CIBIL and that i should make immediate payment to prevent card block. No response to all my attempts to contact.
To put things to perspective I had zero late or missed payments till date. There is no record of it on my CIBIL. Moreover, I had not missed the payment, they converted whole do, including minimum, to EMI. Their outdated systems are not interconnected and the humans overseeing it are being intentionally dishonest.
What options are there for me? I don't get any funds untill next month. I don't have family i can borrow from either. I shouldn't have to pay minimum as minimum is already included in the EMI, but I don't even have option to feed their broken system.
Do i have to file a complaint with RBI ombudsman? They converted whole bill balance (including minimum) to emi and they acknowledged this on the 18th admitting it's system issue and that it should have only converted balance after minimum to EMI but their system converted whole bill and to rectify they'll refund late payments fes or interest charged and to make timely payments from next billing, but now collections ignoring that acknowledgement and harrassing me. Since that acknowledgement was over phone I don't have e-mail proof nor voice recording for a legal recourse. All I can say is they acknowledged it and offered solution on 18th. They can easily screw me over by denying it.
What to do?
