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ICICI Platinum CC - Charged Redemption Fee for Redeeming Zillion (formerly PAYBACK) Coins

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sahil1033

sahil1033

TF Premier
On 7-Aug-2023, I had purchased a voucher from Magicpin through Twid (Pay with Rewards) and redeemed 1,000 Zillion (previously PAYBACK) coins worth Rs. 250.

Now ICICI Bank has its own reward system but previously for Platinum CC, reward points were credited as PAYBACK points. Today when statement generated, I was shocked to see that I've been charged Rs. 25 + 18% GST as redemption fee of Zillion coins.

1695312865385.png

It makes zero sense to charge redemption fee on credit card which is no longer associated with Zillion at all. Does anyone has any idea on this as to why and how this happened? If I've been charged wrong, I'll definitely write an email to credit cards division customer care.

If anyone has faced anything similar, let me know please.
 
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sahil1033 said:
On 7-Aug-2023, I had purchased a voucher from Magicpin through Twid (Pay with Rewards) and redeemed 1,000 Zillion (previously PAYBACK) coins worth Rs. 250.

Now ICICI Bank has its own reward system but previously for Platinum CC, reward points were credited as PAYBACK points. Today when statement generated, I was shocked to see that I've been charged Rs. 25 + 18% GST as redemption fee of Zillion coins.

View attachment 30120

It makes zero sense to charge redemption fee on credit card which is no longer associated with Zillion at all. Does anyone has any idea on this as to why and how this happened? If I've been charged wrong, I'll definitely write an email to credit cards division customer care.

If anyone has faced anything similar, let me know please.
Click to expand...
I was charged 100+GST.... When asked about their partnership, no response
 
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sahil1033 said:
On 7-Aug-2023, I had purchased a voucher from Magicpin through Twid (Pay with Rewards) and redeemed 1,000 Zillion (previously PAYBACK) coins worth Rs. 250.

Now ICICI Bank has its own reward system but previously for Platinum CC, reward points were credited as PAYBACK points. Today when statement generated, I was shocked to see that I've been charged Rs. 25 + 18% GST as redemption fee of Zillion coins.

View attachment 30120

It makes zero sense to charge redemption fee on credit card which is no longer associated with Zillion at all. Does anyone has any idea on this as to why and how this happened? If I've been charged wrong, I'll definitely write an email to credit cards division customer care.

If anyone has faced anything similar, let me know please.
Click to expand...
afaik payback has been rebranded as zillion
so all payback points earned will become zillion coins
and payback coins redemption structure is applicable here as well.
i would say you got to redeem coins at a better price
if you do it through icici portal they charge 99+ gst
 
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sahil1033 said:
On 7-Aug-2023, I had purchased a voucher from Magicpin through Twid (Pay with Rewards) and redeemed 1,000 Zillion (previously PAYBACK) coins worth Rs. 250.

Now ICICI Bank has its own reward system but previously for Platinum CC, reward points were credited as PAYBACK points. Today when statement generated, I was shocked to see that I've been charged Rs. 25 + 18% GST as redemption fee of Zillion coins.

View attachment 30120

It makes zero sense to charge redemption fee on credit card which is no longer associated with Zillion at all. Does anyone has any idea on this as to why and how this happened? If I've been charged wrong, I'll definitely write an email to credit cards division customer care.

If anyone has faced anything similar, let me know please.
Click to expand...
Are you still able to purchase vouchers using magicpin and get the option to PWR using twid?
 
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xywowowvw said:
afaik payback has been rebranded as zillion
so all payback points earned will become zillion coins
and payback coins redemption structure is applicable here as well.
i would say you got to redeem coins at a better price
if you do it through icici portal they charge 99+ gst
Click to expand...
But the point is, how and why would redeeming Zillion coins be associated with my Platinum CC when there's no relation now whatsoever. Also, the 1,000 coins redeemed is not solely earned from this card, it was accumulated from before.

There can't be a credit card as basic as ICICI Platinum and charging unnecessary amount is way too stupid. I'll better close this card after getting Coral RuPay LTF.
 
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sahil1033 said:
But the point is, how and why would redeeming Zillion coins be associated with my Platinum CC when there's no relation now whatsoever. Also, the 1,000 coins redeemed is not solely earned from this card, it was accumulated from before.

There can't be a credit card as basic as ICICI Platinum and charging unnecessary amount is way too stupid. I'll better close this card after getting Coral RuPay LTF.
Click to expand...
rewards earned on platinum cc was in the form of payback points
those payback points got converted into zillion coins
now if you say there are coins earned before this that may be the reason why only 25 rs was levied as redemption fee
 
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xywowowvw said:
rewards earned on platinum cc was in the form of payback points
those payback points got converted into zillion coins
now if you say there are coins earned before this that may be the reason why only 25 rs was levied as redemption fee
Click to expand...
hmmm ... but still weird since there's no link between Zillion/PAYBACK and ICICI now yet they're being freaking leeches.
 
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It sounds ridiculous! What is Payback customercare saying about this? Since you haven't used the ICICI card for the transaction, there is no way ICICI can charge you unless Zillion/Payback charged it to your card. So before the bank, Zillion should be answerable. Also write to the bank, ICICI customercare is usually useless on call.
 
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Update : I received 403 PAYBACK points from ICICI Platinum credit card way back in October 2021.

Full Story :
So, I do remember not getting any PAYBACK point earned via ICICI Platinum CC but after thoroughly going through emails, found that an incident happened with me when I got this credit card. So, when the statement for Amazon Pay ICICI CC generated, I received 403 PAYBACK points instead of Amazon Pay balance.
So, I notified this to ICICI Bank, they took the complaint, credited Rs. 403 as Amazon Pay balance and even provided separate limits for both the CCs.
This 403 PAYBACK points were the ones being consumed in the transaction and that's why I was charged redemption fee. Still it's weird to me as the partnership ended way back in late 2021 or early 2022, don't remember exact timeline. Sorry for the trouble, I should've made some deep research before posting.
Also, considering 403 PAYBACK points is approx. Rs. 100, which was eventually for FREE, so, the redemption fee isn't a pain anymore.
 
Last edited:
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sahil1033 said:
Update : I received 403 PAYBACK points from ICICI Platinum credit card way back in October 2021.

Full Story :
So, I do remember not getting any PAYBACK point earned via ICICI Platinum CC but after thoroughly going through emails, found that an incident happened with me when I got this credit card. So, when the statement for Amazon Pay ICICI CC generated, I received 403 PAYBACK points instead of Amazon Pay balance.
So, I notified this to ICICI Bank, they took the complaint, credited Rs. 403 as Amazon Pay balance and even provided separate limits for both the CCs.
This 403 PAYBACK points were the ones being consumed in the transaction and that's why I was charged redemption fee. Still it's weird to me as the partnership ended way back in late 2021 or early 2022, don't remember exact timeline. Sorry for the trouble, I should've made some deep research before posting.
Also, considering 403 PAYBACK points is approx. Rs. 100, which was eventually for FREE, so, the redemption fee isn't a pain anymore.
Click to expand...

Even then, if there is no partnership between ICICI and Zillion as of now, on what basis have they charged you? Do take it up with Zillion. Don't think ICICI is to be blamed here.
 
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maheshspanicker said:
Even then, if there is no partnership between ICICI and Zillion as of now, on what basis have they charged you? Do take it up with Zillion. Don't think ICICI is to be blamed here.
Click to expand...
Zillion support keeps on saying to ask with ICICI Bank, they've raised their hands up in the air and playing blame game, yet to receive any communication from ICICI Bank.
 
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UPDATE :

ICICI Bank just won't tell me the reason why they've charged a redemption fee when there's no partnership between PAYBACK/Zillion and ICICI Bank now.

Anyway, since I got 403 PAYBACK points for FREE, I won't be chasing ICICI Bank further and disturb my peace of mind.

But for those who are yet to redeem their PAYBACK points earned through ICICI credit card, be ready to be charged with a redemption fee charged in your ICICI CC statement.

Attaching responses I got from ICICI Bank customer care team on this issue :

1695729508259.png
1695729552489.png

Thanks for all the help and input 😇
 
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