ICICI Bank Platinum Chip Credit Card is a lifetime free card that gives you 2 reward points on every purchase of Rs 100 which can be redeemed across a wide range of categories.
CardType: Lifetime free, Reward
Charges:
- Joining Fee: Nil
- Annual Fee: Nil
- Interest Rate: 40.80% per annum
Rewards:
- Earn Reward Points:
- You get 2 reward points on every Rs 1 spent at retail.
- Get 1 reward point for every Rs 100 spent on utility bills and insurance premiums
- Redeem Points for:
- You can redeem these points on gifts and vouchers on the ICICI Bank Rewards Program.
Benefits:
- Security:
- Chip technology embedded in the card for better fraud protection
- Additional security on terminals for PIN-based verification
- Fuel Surcharge Waiver:
- 1% waiver on fuel purchases up to ₹4,000 per month at HPCL pumps when swiped on ICICI Merchant Services machines
- Dining Discounts:
- Get discounts at over 2,500 restaurants through the ICICI Bank Culinary Treats program
Other Features:
- Contactless payment technology for faster and more convenient transactions
- Convert purchases into EMIs (easy monthly installments)
Eligibility:
- Age: 23 to 60 years old (as per publicly available information)
- Occupation: Salaried or Self-employed
Additional Points to Consider:
- No airport lounge access or travel insurance included
- Rewards program details might be limited compared to higher-tier cards
Pros & Cons:
Pros:
- Security: The embedded chip and PIN verification offer stronger protection against fraud compared to basic cards.
- No joining or annual fee: The card is given to you for a lifetime free, you do not need to worry about it.
- Rewards program: You can redeem the reward points earned by spending on many categories.
- Fuel surcharge waiver: You get a small discount at some selected fuel stations.
- EMI option: Convert larger purchases into easier monthly installments for better budgeting.
- Contactless payments: Enjoy faster and more convenient transactions.
Cons:
- Low reward rate: Compared to premium cards, you earn fewer points per rupee spent.
- Limited rewards program: May have fewer redemption options compared to higher-tier cards.
- No travel benefits: No airport lounge access or travel insurance included.
- Conditional fee waiver: You need to spend a specific amount annually to avoid the annual fee.
- High-interest rate: Interest charges are significant if you don’t pay your balance in full each month.
Please Read Our other credit card reviews
- Standard Chartered Platinum Rewards Card
- HSBC Visa Platinum Credit Card
- Amazon Pay ICICI Credit Card
- HDFC Pixel Play Credit Card
Disclaimer
If there is any change in the information about ICICI Bank Platinum Chip Credit Card, CredBanking will not be responsible because we have obtained this information from the internet.
