Great news for ICICI credit card holders! The nationalized bank has revised cc fees effective Feb. 10. The bank will now charge a transaction fee of 2.50% on all credit card transactions, subject to a minimum of Rs 500.
Except for ICICI Bank Emerald Credit Card, the bank has also revised late payment fees on credit cards. Late payment fees vary depending on the total amount due. However, the bank will not charge those whose total amount owed is less than Rs 100. On the contrary, for higher amounts, the charges increase with an increase in the amount owed. The highest amount the bank will charge is ₹1200 for an outstanding amount of ₹50,000 or more.
For an amount due between Rs 100 and Rs 500, Rs 100 will be charged.
For the amount due between Rs 501 and Rs 5000, Rs 500 will be charged.
For a due date up to Rs 10,000, Rs 750 will be charged.
For a due up to 25000, Rs 900 will be charged.
For a due date up to Rs 50,000, Rs 1,000 will be charged.
Finally, for a maturity up to Rs 50,000, Rs 1200 will be charged.
Other nationalized banks such as HDFC Bank, SBI Card and Axis Bank charged up to Rs 1,300 for more than Rs 50,000 balance payments.
ICICI Bank has also introduced check fees in case of check return. If there is a check return or automatic debit, the lender will charge 2% of the total amount due to the account holder (minimum of Rs 500).