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I need a clarification.
My CC bill dated 15 January has 2000 rupees as bill amount. Today 4th Feb is bill payment last date.

Meanwhile I received a refund of Rs 2000 on 30 Jan from a purchase that was returned. Now my current outstanding is 0.

Do I need to pay this 15 Jan bill amount or the refund will be taken as my bill payment?

Hi,

Since your refund has come in the next billing cycle, you need to clear the outstanding 2000/-. The refund amount will then remain sitting in your credit card and be used for expenses in the future to be balanced against.

You have to pay as per the statement's outstanding, not as per current outstanding.

Depends on the card.
1. With AMEX it is adjusted on the fly. So your outstanding would be zero when you check on line.
2. With HDFC it is never adjusted, so you have to pay.
3. With other cards it depends.

The best bet is to check on line ans see what your outstanding is.

The rules may be different for different banks.

But I strongly suggest that you pay at least the minimum due amount. Since the total bill amount is also not much, its better to make the full payment and be tension free.

The refund amount would be adjusted against next month's purchases. Though you may still have to pay the minimum amount due again next month. (Read next month's statement carefully)

Rohan

My friend, the safest and best approach would be to call your banks customer care number and follow what they say so you don’t have to pay any charges for late payment or non payment.

Since normally all calls are recorded, make sure you make a note of the call centre persons name, and the date/time of your call. This will help if you need evidence of your conversation with them.

Cheers

as long as your current outstanding is 0, it means your dues are cleared. Who made the payment does not matter.

I have been using the icici ferrari cc for sometime now, and it's expiring in March. I got a notification from ICIC saying that they are issuing an Accelero card in lieu of the ferrari card.

But am unable to find the details of that card on their site.

Any clue?

I had a Ferrari card but from my experience it has little to no benefits. Instead I got an Amazon Pay ICICI card issued. You can do this online by logging into Amazon & ICICI and it taps into your approved credit limit for the existing card. The Amazon Pay card has many benefits if you are a regular shopper and Prime member. Eventually I cancelled the Ferrari card and now only retain the Amazon Pay card. Would suggest you do the same.

Thanks Noopster. Was thinking of doing the same as well. Had got the ferrari on impulse and just stuck with it.

The AP card looks good considering how much i spend in Amazon :D

I too thought so. But as a caution I paid the bill amount. Next time need to get it confirmed from the bank.

Not true for all cards, best to read T&C. Some banks specify 'refunds & credits' received after statement generation get counted for the next statement cycle, not against current cycle dues.

You did right. Not worth defaulting on due date for a relatively small amount. It will get added to your credit limit in any case, so you lose nothing. Talk to your bank for future reference if they count refunds and credits towards payment of amount due.

It is adjusted in case of HDFC too. I have autopay setup for my HDFC CC from my HDFC savings account. On one month when there was a refund to the card account, and the amount was greater than the previous month balance, the autopay did not kick in. I was not charged for non-payment as well.

If you are still interested in the Accelero Card

Website link: https://www.icicibank.com/Personal-B...elero-textlink

As member Noopster has suggested, if you are a prime member & making a lot of Amazon purchases and already have existing relationship with ICICI, go for the Amazon Pay ICICI Credit card. End of your billing cycle, all cashbacks accrued during that cycle are automatically refunded into your Amazon Pay account & not your bank. That is one of the best features - no hassles of points and how to redeem them.

It was SBI Credit Card. They replied to my query as below.