I have an ICICI credit card & the bill for the month of Aug/Sep '10 amounted to 585.37.

Bill due date was 08 Oct & I paid it late by few days (paid on 15th Oct, paid in full using E-Payment). My next month bill with *no transactions* of the card amounted to 473.43.

My bill was ~586 & after paying it, i still get a bill of ~474. I understand the Interest charges.
But what baffles me is the Late Payment fee of 400. Can I challenge this Late Payment Fee? Is it legal on their part to charge such an amount for late payment?

Following is the split up of my bill generated for this month (Sep/Oct 2010).

Late Payment Fee 400.00
Service Tax 41.20
Service Tax 3.01
INTEREST CHARGES 29.22
-------------------------------------
Total 473.43


Thanks for your time in advance
Shashank