Amazon Pay ICICI Bank Credit Card

[Xposed]

See this is from my spending last month and you can see it does have an expiry date which for some reason has been extended to 3 years but it does have an expiry date


Source

 

[Lolita_Magnum]

Yes, I have the same date of 3 years, but my old gift cards automatically re-extend for another 3 years. Plus 3 years is anyway enough.

 

[Jonas]

 

[mhsabir]

I think there is a deeper understanding needed here. If 3000 was outstanding and 3000 came as refund, you don't need to make a separate payment.

However if 10k is outstanding and bill is generates with a minimum due of say 500 and you get a 3k refund. You still need to make a minimum payment of 500 to be not considered as past due and no late fee to be applied.

I cannot claim this to be 100% accurate, but this is most likely explanation as to why a refund is not considered a payment.

 

[a.c]

Okay, looks like the RBI guildline will only be effective from July 1st, 2022.

Quoting the required lines.

These Directions shall be effective from July 01, 2022.
Any credit amount arising out of refund/failed/reversed transactions or similar transactions before the due date of payment for which payment has not been made by the cardholder, shall be immediately adjusted against the ‘payment due’ and notified to the cardholder.

Hope someone here reads the full doc and share any more good points (if any)

Doc: Reserve Bank of India - Notifications

 

[royalroy]

AFAIK, RBI has increased this deadline.

 

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[pothi]

^^ True. Implementation of those rules are postponed to October 2022.

 

[mikrotik]

Deadline is only increased for specific guidelines, not for all.

 

[SVK]

Has Amazon/ICICI stopped crediting 5% cashback in Amazon Pay?
I did over 30K shopping on Amazon last month, but my Amazon Pay balance is zero.
Only Rs 25 was credited last in August for making payment on Swiggy using Amazon Pay.

 

[Sushubh]

My credit appears by 7th morning. I did get the credit last month. Hard to properly calculate what amount is due but seems alright.