I may have mentioned this already, but one issue with this card is that, most other online portals prohibit using this card for any ICICI cash back or discount offers. I have run into this issue on Flipkart and Tata Cliq. Probably others as well. I am thinking of getting a basic ICICI LTF card for such offers.
so here are a few things that comes to mind about this card and the icici app.
imobile app is still shit. card section is annoying to use. it does not have real time transaction data. in fact, most of the times, it would show transactions that are 2 days old. even getting to transaction section requires more than a few clicks as the app homepage links to card management and not transactions page unless i am missing something.
the good thing is that app shows the points you made on all transactions. 1% cashback transactions are done in multiples of 100s. so if you spent 199 rupees, you are still getting just one point. Amazon transactions on the other hand seem to apply in multiples of five so that's nice.
credit card bill payments are also not instant. takes around 2 days to appear in the system.
the statement generated by icici bank website are not in a4 size. this seems to be common with a lot of banks these days. yes bank is also generating custom statements in a weird page size which results in tiny text if you take printouts. pdf statements generated by the bank have too much garbage on the first page. there is an option to take yearly statement which seems to generate a cleaner statement in size that appears to be a4. would have to wait till next year to see if this is going to be useful as it generates an empty statement for me.
My first bill payment through ICICI app failed. Later paid outstanding bill through Amazon app by UPI.
BTW My Citibank credit card also doesn't show real time usage. All expenses are displayed in unbilled statement after 1-2 days.
When you transact using your credit card, the merchant passes the information to your bank via the card network. The bank blocks the amount on your account, but your money still stays in your account. Later, the merchant has to process settlement on the PoS machine. Generally, this is done after 1-2 days, when the merchant wishes. Your bank deducts the money from your account and deposits it in the bank of the merchant, again through the card network. Settlement is actually a confirmation from the merchant of the sale and the transaction. If the merchant doesn't settle the transaction within a couple of days, the transaction will be cancelled.
This is why it takes 2 days for the transactions to appear. Some banks show the transaction as "under settlement" initially and "settled" after te settlement is done. Some banks don't show the transaction until the merchant has confirmed the transaction.
yes OneCard app is great at showing transactions instantly. HDFC also does not show transactions instantly but that amount is blocked and since they already have info about transaction why not just update it instantly.