You can earn reward points when you shop with your ICICI Platinum Credit Card Review and easily redeem them for exciting options from categories like travel, premium merchandise, and more. It has a flexible rewards redemption program. Read on to know more about the ICICI Platinum Chip Credit Card offers. The card comes with a security chip that protects against the risk of fraud
ICICI Platinum Credit Card Review
ICICI Platinum Credit Card Features
- Reward Rate0.50% as Payback Points
- Fuel Surcharge Waiver2.5% fuel surcharge waiver can be availed on fuel transactions up to ₹4,000 at HPCL pumps by swiping the card at ICICI Merchant Services swipe machines.
- Renewal Fee WaiverSpend ₹ 50,000 or more annually, for renewal fees to be waived off.
- Complementary Airport lounge accessNO
- Foreign Exchange Markup fee3.5% + Service Tax
- 1 PAYBACK Point per Rs. 100 spent on utilities and insurance
- 2 PAYBACK Points are earned per Rs. 100 Spent on retail
- Do note fuel transactions don’t accrue PAYBACK Points
It gives you a reward rate of just 0.5% (1 payback point = Rs.0.25). Even the lowest variant of HDFC MoneyBack credit card gives you 1.5% (if spent online). When I was busy with business, I never realized that I was using the card that gave the least rewards. I figured out the reward system a year or two ago and turned down the card.
However, I recently signed up for this card as I was offered a very good credit line and lifetime freebies as I have a very good relationship with ICICI. This comes in handy when I run out of credit limits on other cards or if there is some emergency for high value transactions. If you know it, the ICICI Coral “Debit” card also gives you a reward rate of 0.75% which is higher than most ICICI “Credit” cards. Bad!
Fees and Charges
|Finance Charges||3.40% per month / 40.80% p.a.|
|Late Payment Charges||Nil for the amount due less than Rs. 100|
Rs. 100 for amount between Rs. 100 and Rs. 500
Rs. 500 for total amount due greater than Rs. 501 and up to Rs. 10,000
Rs. 750 for total amount due greater than Rs. 10,000
What is the culinary treats program of ICICI Bank?
The Culinary Treats program lets ICICI Platinum credit card holders enjoy a minimum 15% discount on dining bills at over 800 restaurants across India.
How long does it take to convert PAYBACK Points into cash?
The redemption will be processed within 7 working days.
How can I redeem Payback Points?
You can redeem Payback Points for cash or items from the Rewards Catalog. The steps are:
You can redeem the reward points in cash by calling 080-40146444.
To redeem points for an item in the Rewards Catalog, call PAYBACK at 1860-258-5000. Alternatively, you can place a redemption request online on Payback’s website.
I have a salary account with ICICI Bank. Can I get ICICI Platinum Credit Card?
Yes. You can apply for this credit card directly through your ICICI Net Banking Portal. Since you are already a customer of the bank, your approval chances are higher.