ICICI Bank has launched some of the most unique credit cards in India in collaboration with partner from different industries such as Amazon Pay ICICI Credit Card. ICICI Adani One Platinum Credit Card is a continuation of this legacy. In this blog we review its features, pros, cons, eligibility etc.
Key Features of the Adani One ICICI Platinum Credit Card
The Adani One ICICI Platinum Credit Card is designed for consumers looking for more value in their daily spending. Here are some of its standout features:
Rewards Program: Credit card holders get 3% reward points on Adani One ecosystem, which includes, Adani managed Airports, Trainman, Gas, Electricity, and more. Users will get 1% as Adani reward points on all other domestic spending categories (excluding fuel and rent payments). Users earn 1.5% as Adani Reward points on the international spends category. Users earn 0.5% as Adani Reward points on utility and insurance spend.
Milestone Benefits: Adani One offers annual fee waiver on spends of INRs 3,00,000 and above in a calendar year.
Travel Benefits: 8 Domestic lounge access and premium upgrades at Adani-managed airports.
Movie Benefits: Users can avail 25% off upto Rs 100 twice every month on BookMyShow after card activation.
Other Benefits: Cardholders get a discount of up to 2.5% on fuel transactions, which can add up significantly for daily commuters.
Drawbacks of the Adani One ICICI Platinum Credit Card
While the advantages are notable, it's important to also consider the card's downsides:
Low Cashback Rate: The card offers a low cashback rate in comparison to other credit cards.
Concentrated Benefits: Most of the benefits in case of Adani One Platinum Credit Card are associated with Adani ecosystem. The benefits might be less attractive if you don't frequently use Adani services or travel through their airports.
Fewer Premium Perks: Unlike higher-tier cards, this one lacks exclusive perks like concierge services and extensive travel insurance, which may dissuade frequent travelers.
Eligibility Criteria for the Adani One ICICI Platinum Credit Card
To apply for the Adani One ICICI Platinum Credit Card, you must meet certain criteria designed to ensure responsible credit usage. Here’s what you need:
Age Requirement: You must be at least 21 years old, and the maximum age limit although not specified on the website it is typically 65 years of age.
Minimum Income Level: ICIC website does not mention the minimum income level. However, Adani One website mentions minimum income threshold of INR 2.5 lakh.
Credit Score: A good credit score (usually above 750) is typically crucial for approval. However this details has also not been specified on the ICICI website.
Residency: Only Indian residents can apply for this credit card.
If you meet these criteria, go ahead and submit the necessary documentation, including identity proof, residential proof, and income statements.
Understanding Fees and Charges Associated with the Adani One ICICI Platinum Credit Card
Knowing the costs associated with any credit card is essential for responsible financial management. Here’s a breakdown of the fees associated with this card:
Annual Fee: Joining fee is INR 750 +GST and in subsequent years annual fee is also INR 750 + GST.
Interest Rate: The interest rate is 3.40%p.m. or 40.80%p.a. Always strive to pay your balance in full to avoid these high charges.
Cash Withdrawal Fees: If you make a cash withdrawal, expect to pay around 2.5% of the withdrawn amount, subject to a minimum fee.
Foreign Transaction Fees: Traveling abroad? Be mindful that foreign transactions incur a fee of 3.5% of the total purchase amount.
Late Payment Charges: Missing a payment can lead to hefty late fee ranging from INR 0 to INR 1200.
Final Thoughts
The Adani One ICICI Platinum Credit Card offers a good mix of features for individuals who air travel frequently. However, potential users must weigh the pros and cons, particularly regarding low cashback rate on non-adani expenses.
Please read the detailed review of the card and our rating of the card here:
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