I've used the ICICI HP Coral Credit Card for more than a year but always wondered why some transactions got the 2.5% cashback but most of the others did not. I thought it was because some of the Petrol pumps might be claiming to be HP but could be franchised, so they might not be eligible for the offer. I had read the Terms and Conditions* before, but failed to notice this:
As it says, the card must be swiped on ICICI Merchant Services machine! How many petrol pumps have that?! It's ridiculous for ICICI to claim this card provides the 2.5% discount along with 1% surcharge waiver. This is extremely deceitful, and I think it's borderline fraud given how it's advertised.
I'm going to cancel this card since we've ended up spending more via surcharges than we got any cashbacks, given almost no Petrol pumps have ICICI machines.
* Refer page 4 in https://www.icicibank.com/managed-assets/docs/personal/cards/credit-cards/MITC_cc.pdf
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