“Extended Credit Period” offer

PLEASE NOTE THAT THE "EXTENDED CREDIT PERIOD" OFFER IS NOT AVAILABLE TO ICICI BANK CORAL AMERICAN EXPRESS CREDIT CARDHOLDERS WHOSE CARD HAS BEEN ISSUED ON OR AFTER OCTOBER 31ST, 2015.

 

Introducing “Extended Credit Period” offer on your ICICI Bank Coral American Express Credit Card.

 

Now whether you are shopping, dining, holidaying or watching a movie, the ICICI Bank American Express Credit Card gives you yet another reason to celebrate, with the introductory “Extended Credit Period” offer.

 

Under the offer, interest will not be charged on your retail transactions* made up to the 3rd credit card statement date as long as the Minimum Amount Due as per the 1st and 2nd statement and the Total Amount Due as per the 3rd statement is paid by the corresponding payment due dates.

 

You have the freedom to pay the outstanding amount at any time before your 3rd statement payment due date without incurring any interest charges. In case you choose to carry forward any balances post the 3rd statement payment due date, standard interest charges will apply on the outstanding amount and the same will reflect in the 4th statement.

How does the offer work?

To understand the offer, let’s see how standard interest charges are applied on credit card balances:

 

If the Total Amount Due as per your credit card statement is not paid by the corresponding payment due date, you will be charged interest on the outstanding balance and on all fresh transactions till such time as the previous outstanding amounts are paid in full. After the payment due date, for each transaction that has not been paid in full, interest is charged from the transaction date.

 

However, under the offer, interest will not be charged on your retail transactions* made up to the 3rd credit card statement date as long as the Minimum Amount Due as per the 1st and 2nd statement and the Total Amount Due as per the 3rd statement is paid by the corresponding payment due dates.

Please note the following

  • You are required to make the payment for the Minimum Amount Due (MAD) as per the 1st and 2nd credit card statements during the offer period. Failure to do so by their respective payment due dates will lead to expiry of the offer and standard interest charges will be levied on all outstanding balances from the corresponding credit card statement dates.
  • The offer is only applicable on Retail transactions and is not applicable on EMI converted transactions, Cash withdrawals, Card and Transaction related fees, Payment reversals, Balance Transfers, Charge-back and Penalty Charges.
  • As the offer is not valid on non-retail transactions, you are required to pay the joining fee which will be billed in the 1st statement, by the corresponding payment due date.
  • The "Extended Credit Period" offer is available to first time ICICI Bank credit card customers only.

Please take a look at the following illustration to see how the offer works:

 

Receipt of ICICI Bank Coral American Express Credit Card - December 20, 2014

 

Statement date - 15th of every month

 

Statement cycle no.Statement DateAmount due towards Retail Transaction(Rs.)Amount due towards non-retail transactions(Rs.)Payment due date (18 days post statement date defined as per Most Important Terms and Conditions) What you need to do to avail the “Extended Credit Period” offer
1 January 15, 2015 5,000 1,250 + service tax (joining fee) February 2, 2015 Pay Minimum Amount Due + complete joining fee
2 February 15, 2015 10,000   March 5,2015 Pay Minimum Amount Due
3 March 15, 2015 15,000   April 2, 2015 Pay Total Amount Due to avoid interest charges

 

In this illustration, all retail transactions made by you between December 20,2014 and March 15,2015 can be paid in full by April 2, 2015 without accruing any interest, as long as the Minimum Amount Due as per the Jan 15,2015 and Feb 15,2015 statements is paid by the corresponding payment due dates. In case the Total Amount Due as per the 3rd statement dated March 15, 2014 is not paid in full, the outstanding balance after the 3rd statement payment due date of April 2,2015, along with transactions made between March 15,2015 and April 15, 2015 will attract interest* and the same will reflect in the 4th statement dated April 15, 2015.

 

Please click here for Terms & Conditions for the offer.

 

For FAQ’s for the offer click here

Disclaimer:

*Terms & Conditions apply. Offer applicable on all retail transactions (except EMI converted transactions, Cash withdrawals, Balance transfer and other Fee & penalty charges), made up to 3rd credit card statement generation date post receipt of card.

Please refer to Offer Terms and Conditions for more details. ICICI Bank reserves the right to modify/ change all or any of the terms applicable to the Offer without assigning any reasons or without any prior intimation whatsoever. ICICI Bank also reserves the right to discontinue the Offer without assigning any reasons or without any prior intimation whatsoever.