Platinum Chip Credit Card
Rewards & Benefits
Welcome Benefits
None
Milestone Benefits
Cashback Rate
Retail purchases (except fuel): 2 PAYBACK points per Rs. 100 spent.
Insurance & utilities: 1 PAYBACK point per Rs. 100 spent.
Generally, 1 PAYBACK point translates to Rs. 0.25 to Rs. 0.40 if redeemed for vouchers, merchandise, or gift cards. Considering the average value of 1 PAYBACK point as Rs. 0.35, the effective cashback rate for retail purchases works out to:0.7% (2 points per Rs. 100 * Rs. 0.35) For insurance & utilities, the effective cashback rate is:0.35% (1 point per Rs. 100 * Rs. 0.35).
Movie Benefits
Dining Benefits
Other Benefits
Lifetime free platinum chip credit card.; The ICICI Bank platinum chip credit card offers you great value as a no-frills.; Security of a chip card to protect you against the risk of fraud.; A fuel surcharge waiver is available.; Users will get accidental death and air accident insurance coverage.; Visa cards are accepted at most merchants in India and abroad.
Lounge Access
Fees & Charges
Joining Fee
NIL
Annual Fee
(Second year onwards) – NIL
Cash Advance Fee
2.5% on advanced amount , subject to minimum of ?300.�
Interest rate
3.40% per month (40.80% annualized)
Late Payment Fee
Foreign Currency Transactions Fee
Foreign Currency Mark-up Fees: 3.5% of the transaction value.
Other Fees
Supplementary Card Fee – NIL | Cash Advance Charges: 2.5% on advanced amount , subject to minimum of ₹300. | Reward Redemption fees: INR 99/-
Cons
Low reward rate: Compared to other cards, the 2x and 1x points may not be very lucrative for high spenders.
No welcome bonus or joining gifts: Unlike some other cards, there's no initial boost to your reward points.
Limited benefits: No airport lounge access, complimentary movie tickets, or other premium features.
Renewal fee potential: If you spend less than ₹50,000 annually, you may have to pay a renewal fee.
High-interest rates: If the user doesn't pay his dues on time, the interest rate is on the higher side.
Not ideal for travel: Limited travel benefits and foreign currency markup fee make it less suitable for frequent travelers.
Lifetime free platinum chip credit card.
Reward system: On retail purchases (except fuel): Users will get 2 PAYBACK points per Rs. 100 spent, on insurance & utilities: 1 PAYBACK point per Rs. 100 spent. Generally, 1 PAYBACK point translates to Rs. 0.25 to Rs. 0.40 if redeemed for vouchers, merchandise, or gift cards. Considering the average value of 1 PAYBACK point as Rs. 0.35, the effective cashback rate for retail purchases is 0.7% (2 points per Rs. 100 * Rs. 0.35). For insurance & utilities, the effective cashback rate is 0.35% (1 point per Rs. 100 * Rs. 0.35).
The ICICI Bank platinum chip credit card offers you great value as a no-frills.
Security of a chip card to protect you against the risk of fraud.
ICICI Bank reward points are redeemable for exciting gifts and vouchers.
A fuel surcharge waiver is available.
Users will get accidental death and air accident insurance coverage.
Visa cards are accepted at most merchants in India and abroad.
Rewards & Benifits
Welcome Benefits
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Rewards System
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International Forex Markup
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Welcome Benefits and Reward System
Special Features
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Eligibility Criteria
Age: Between 22 and 60 years.
Occupation: Salaried or self-employed.
Minimum income:
Salaried: ₹48,000 per month.
Self-employed: ₹60,000 per month.
Credit score: Good credit score (CIBIL score of 750 or above).
Residence: Resident of India.
Speical Feature, Eligibility and Benefits
How to apply for Credit Card?
Online:
Visit the ICICI Bank website: https://www.icicibank.com/personal-banking/cards/credit-card
Select the "Credit Cards" tab.
Choose the "Platinum Chip Credit Card".
Click on "Apply Now"
Fill in the application form with your details.
Upload the required documents.
Apply.
Once you have submitted your application, it will be processed by ICICI Bank. You will be informed of the decision within 7-10 business days.
Contact Details
1800 1080
Account Opening and Procedure
Recommended Credit Cards
Pros:-
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Cons:-
Lifetime free platinum chip credit card.
Reward system: On retail purchases (except fuel): Users will get 2 PAYBACK points per Rs. 100 spent, on insurance & utilities: 1 PAYBACK point per Rs. 100 spent. Generally, 1 PAYBACK point translates to Rs. 0.25 to Rs. 0.40 if redeemed for vouchers, merchandise, or gift cards. Considering the average value of 1 PAYBACK point as Rs. 0.35, the effective cashback rate for retail purchases is 0.7% (2 points per Rs. 100 * Rs. 0.35). For insurance & utilities, the effective cashback rate is 0.35% (1 point per Rs. 100 * Rs. 0.35).
The ICICI Bank platinum chip credit card offers you great value as a no-frills.
Security of a chip card to protect you against the risk of fraud.
ICICI Bank reward points are redeemable for exciting gifts and vouchers.
A fuel surcharge waiver is available.
Users will get accidental death and air accident insurance coverage.
Visa cards are accepted at most merchants in India and abroad.
Low reward rate: Compared to other cards, the 2x and 1x points may not be very lucrative for high spenders.
No welcome bonus or joining gifts: Unlike some other cards, there's no initial boost to your reward points.
Limited benefits: No airport lounge access, complimentary movie tickets, or other premium features.
Renewal fee potential: If you spend less than ₹50,000 annually, you may have to pay a renewal fee.
High-interest rates: If the user doesn't pay his dues on time, the interest rate is on the higher side.
Not ideal for travel: Limited travel benefits and foreign currency markup fee make it less suitable for frequent travelers.
The ICICI Platinum Chip Credit Card is a no-frills option suitable for individuals with moderate spending who value simplicity and avoid annual fees. It offers a basic rewards program and some essential benefits like fuel surcharge waiver and insurance coverage. However, its low reward rate, limited perks, and high late payment charges might not be appealing to those seeking higher value or more features.
The ICICI Platinum Chip Credit Card is a no-frills option suitable for individuals with moderate spending who value simplicity and avoid annual fees. It offers a basic rewards program and some essential benefits like fuel surcharge waiver and insurance coverage. However, its low reward rate, limited perks, and high late payment charges might not be appealing to those seeking higher value or more features.
Abhijeet Saxena
Abhijeet Saxena
Nalsar University of Law
Ex- Senior Associate, Shardul Amarchand Mangaldas, Delhi
Ex - Khaitan & Co. Bengaluru,
Ex - National Stock Exchange, Mumbai,
Ex - Argus Partners, Mumbai
Product Review
Fees & Charges
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Fuel Surcharge
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Billing Cycle
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