This is in reference to my ICICI credit card.

Brief History:

I have been using my ICICI credit card with aforementioned number for the past 3-4 years. I had an outstanding balance of 25,000 and have planned to settle the same in the month of June 2007. ICICI employee (unsure about name – think Tamizhan) from Chennai helped me settle and close this account for me. He called me 3-4 times in this regard and told I can go head with the settlement and should continue using the ICICI service. Initially i did not agree to the same but later he convinced me by telling, i will get a new card with higher credit limit. I was least interested in receiving and just wanted to cancel and close the account.

He called me later in the day to inform about the settlement amount (sum of Rs.18000) and i would receive the settlement letter in a week’s time from Chennai office. In the meanwhile he pushed me to make the settlement amount by sending some one from Bangalore office. The day the bill collector visited my office, he called me from Chennai promising me that i would receive the letter on 5 July 2007 and i can give him a post dated cheque dated 5 July 2007. I trusted and gave the collector cheque (HDFC Bank – Chq no.289620 dt. 05/07/2007) and in return received the payment receipt with a receipt number C0507 3146285.

Till this time, I did not receive any settlement letter and during the first week of Aug i received my new card with new card number. I was convinced that i now have the new card with a letter stating... "my old card is deactivated".

Every month i receive SMS and call center calls asking me to pay my outstanding. I am trying to make people understand that this account is closed and I have paid the settlement amount. They close the call telling… they will inform Chennai office and get my letter soon.

This morning (25 Sept 2007) a person visited my office telling he is from ICICI and i should pay him the outstanding. Later spoke to his manager in ICICI bank, MG road branch and he told they can give me the settlement letter but have to pay the difference. Which is current outstanding - what is waived out. I totally disagreed and felt cheated and told him to do what he wants but i can’t may this payment as this already settled.

What i can’t understand here is he knows the credit given to me but cant issue the letter. This is a clear case of cheating the customer over phone and i have fallen prey to this kind of business ICICI is following to get the payout out from customers.

If I have not opted to close my account, why did I receive a new card without my request?

Anyone suggest.

As we all know that we usually get so many Phone Calls from Banks to Offer Us Credit Card and if you are interested then, Bank send their Executive to us. At that time they are not bother to come to your Office / Home at any time as per Customer's Convenience.

With the same procedure I had applied for A "Solid Gold Credit Card" ( which has been offered to me by ICICI only & I knew I am eligible for the same ).

But, I received "Silver Credit Card" through courier.

When I contacted to Customer Care, I had been told that "You use Silver Credit Card and after 6 months you apply for Solid Gold Credit Card".

Is this bad system of ICICI?