ICICI Credit Card Late Payment Charges

Last Updated : June 10, 2025, 6:12 p.m.

Late payment charges on credit cards can cost you more than just money—they can damage your credit score, lead to higher interest, and disrupt your financial planning. If you are an ICICI credit cardholder, understanding ICICI Credit Card Late Payment Charges is essential to avoid unnecessary penalties.

In this guide, we’ll break down the charges, payment timelines, smart tips to avoid penalties, and how it all affects your CIBIL score . Let’s dive in.

What Are ICICI Bank Credit Card Late Payment Charges?

ICICI Credit Card Late Payment Charges are the penalties levied when you miss the due date for your monthly bill payment. These charges vary depending on your total outstanding amount.

Note: These charges are subject to change at the discretion of ICICI Bank. Always confirm the most recent terms and conditions laid down by ICICI prior to the due date.

When Are ICICI Credit Card Late Fees Charged?

Late fees are charged if your ICICI credit card bill isn’t paid by the due date, even if the delay is by a day. These charges are usually reflected in the next month’s billing cycle.

ICICI Credit Card Cash Withdrawal Charges

Withdrawing cash on your credit card (a cash advance) is easy but costly. ICICI Bank usually imposes 2.5% of the withdrawal amount (At least Rs. 500) as a cash advance fee. For example, taking out ₹4,000 incurs a fee of ₹1000 (since 2.5% of ₹4000 = ₹100, but the minimum applies, so ₹500). These ICICI credit card late payment charges are added to the cash withdrawn.

Additionally, interest on cash withdrawals is extremely high. ICICI now charges about 3.75% per month (≈45% p.a.) on cash withdrawals, and interest starts accruing immediately on the withdrawal date. Cash withdrawals do not have an interest-free grace period. In short, borrowing cash on your card can snowball into heavy costs quickly.

All cash advances carry high interest (~45% p.a.) from day one. For this reason, do cash withdrawals only in emergencies. Whenever possible, use debit cards or bank loans instead.

ICICI Forex (Foreign Currency) Charges

When you transact with your ICICI credit card overseas (or for foreign online purchases), the bank levies currency conversion fees. ICICI’s current charges include:

• Foreign currency transactions (POS/online): 3.5% of the transaction value (Additionally 18% GST) as a markup charge . This is added to the exchange rate conversion.
  
• Overseas ATM withdrawals: ₹125 + GST per withdrawal, in addition to the cash advance fee (2.5% min ₹500) above.
  
• Balance inquiries abroad: ₹25 + GST per enquiry.
  
• Dynamic Currency Conversion (DCC) Fee: If an overseas merchant decides to charge you in INR (Instead of local currency), ICICI levies a 1% DCC fee (plus taxes). Always choose to pay in the local currency to avoid this bonus 1%.

Pro Tip: Always pay in the local currency of the merchant when using your card overseas. This avoids the 1% DCC fee and often gets you a better exchange rate. Also, opt for credit card rewards or co-branded travel cards that waive forex markup if you travel frequently.

Other ICICI Credit Card Fees

Besides the above, ICICI credit cards have a few miscellaneous fees for special services or penalties. Key ones include:

What Happens If You Keep Missing ICICI Card Payments?

Here’s what recurring late payments can result in:

• Interest Charges: ICICI charges 3.5% per month (or 42% annually) on the outstanding amount.
  
• Over-limit Fee: If your spending crosses the limit and you miss a payment, you may also be charged an over-limit fee.
  
• Restricted Card Usage: Your credit limit might be reduced or the card can be temporarily blocked.
  
• Debt Accumulation: Unpaid dues snowball into long-term financial burdens.

Tips to Prevent ICICI Credit Card Late Payment Charges

• Enable Auto-pay: Automate at least the minimum amount due.
• Set Payment Reminders: Use your phone calendar or ICICI alerts.
• Pay Before Due Date: Consider paying 2–3 days prior to the actual date to prevent processing delays.
• Track via iMobile App: Monitor your billing cycles periodically.

How to Make Your ICICI Credit Card Bill Payments on Time?

To avoid ICICI Credit Card Late Payment Charges, use any of these secure and quick payment options:

• Net Banking: Log in to ICICI Net Banking and pay instantly.
  
• Mobile App (iMobile Pay): Schedule and pay from your ICICI or other bank accounts.
  
• UPI Apps (Google Pay, PhonePe, Paytm): Use your VPA to make same-day payments.
  
• NEFT/IMPS: Add your ICICI credit card as a beneficiary and transmit funds.
  
• Auto-Debit Facility : Set up auto-debit instructions on your ICICI savings account to never miss a due date. This is ideal for steering clear of interest and late payment charges.

How do Late ICICI Credit Card Payments impact your CIBIL score?

The impact of defaulting on your ICICI credit card payment can be detrimental for your CIBIL score, since payment history constitutes up to 35% of your credit score. Even one missed payment can reduce your score by 50–100 points.

Regular and timely payments help maintain a score above 750, increasing your loan and credit card approval chances.

So, here are some major impacts of late payments on your CIBIL score

• There may be a considerable drop in your CIBIL score
• Late payments affect your future loan and credit card eligibility
• Late payments lead to higher interest rates
• Shows that you do not have good financial discipline
• It affects the approval of loan and credit card applications in the future.

Disclaimer: The charges given above are as of when this page was written. To ensure accuracy, always refer to ICICI Bank’s site for the latest fee schedule.