The RBL Bank Icon Credit Card stands out in the competitive market, offering premium rewards and exclusive privileges. This guide provides an overview of the card's benefits, including a generous welcome offer and diverse rewards programs. Whether you're a traveller, movie enthusiast, or golf lover, the card has valuable offerings for you.
We will explore the card's main features: welcome benefits, reward programs, milestone rewards, airport lounge access, movie discounts, golf perks, and important fee considerations.
Welcome Benefit
The RBL Bank Icon Credit Card greets new users with an impressive welcome benefit. New cardholders commonly receive 20,000 bonus rewards points. To get this welcome benefit users need to make the payment of the annual fee and make a transaction using their credit card within 30 days of card issuance.
Reward Benefit
The reward benefits program of the RBL Bank Icon Credit Card is designed to maximize the value for cardholders. Card users earn 2 reward points for every ₹100 spent on dining, travel, and online shopping, which gives the user, a cashback rate of 0.50%. Cardholders will receive 20 reward points while spending on international purchases and weekend dining which translates to a cashback rate of 5%. A maximum of 2,000 reward points per month can be awarded each for International purchases and weekend dining spending.
Milestone Benefit
Milestone benefits can significantly enrich the cardholder's experience. Users receive tangible rewards upon reaching specified spending threshold. Cardholders will earn 10,000 reward points on spending INR 3 lakhs in a year, an additional 15,000 reward points on spending INR 5 lakhs in a year, and another 20,000 reward points on spending INR 8 lakhs in a year.
Such incentivizing milestones motivate cardholders to utilize their cards more frequently, fostering a thriving relationship with their credit accounts.
Airport Lounge Benefits
For those who travel often, the airport lounge access offered is a standout feature of the RBL Bank Icon Credit Card. Cardholders will receive 2 complimentary lounge visits every quarter at major domestic airports in India. Cardholders can access the international airport lounge using their RBL Bank Icon Credit Card, however, each visit will be chargeable up to $35 per person.
This benefit can elevate the travel experience by offering amenities such as complimentary snacks, beverages, high-speed Wi-Fi, and a relaxing environment before flights. As a result, frequent travellers can enjoy a serene space away from the chaos of busy terminals.
Movie Benefits
Cinema lovers will appreciate the unique movie benefits linked to the RBL Bank Icon Credit Card. Cardholders will get a 1+1 movie ticket on BookMyShow, up to INR 200, twice a month. This means that when a cardholder purchases one movie ticket, they will receive a second ticket absolutely free,
Golf Benefits
Golf enthusiasts can take advantage of the dedicated golf benefits associated with the RBL Bank Icon Credit Card. Cardholders may gain complimentary access to certain golf courses or receive discounts on membership fees at select golf clubs.
For example, a cardholder might enjoy a free round of golf on a weekday at a premium course or access a 20% discount on green fees, making this card a valuable tool for anyone serious about the sport.
Cons
Despite its numerous benefits, the RBL Bank Icon Credit Card has some potential downsides.
Annual Fee: The card comes with an annual fee of INR 5000, which may not appeal to users who don’t spend enough to offset this cost. If you’re not a frequent spender or fuel user, the fee might outweigh the rewards.
High Interest Rates: With interest rates on unpaid balances reaching upwards of 47.88%, carrying a balance on this card can quickly become expensive. Timely payments are crucial to avoid accumulating significant debt.
Capped Rewards: While the card offers accelerated points on international purchases and weekend dining spends, there’s a monthly cap of 2,000 points. Heavy spenders might find this limit restrictive, especially if they frequently exceed the cap.
Fees and Charges
Awareness of fees and charges is essential for potential cardholders.
Joining fee: INR 5000/- plus taxes.
Annual fee: INR 5000/- plus taxes.
Foreign currency markup: 3.50%.
Cash advance fee: 2.5% or INR 500, whichever is higher.
Late payment charges: INR 100 to 1300.
Reward redemption fee: INR 99 per redemption request.
Interest rate: 3.99% monthly, 47.88% annually.
Final Thoughts
The RBL Bank Icon Credit Card is great for big spenders who love travel, dining, and movies. It offers 5% cashback on international/weekend spending, free lounge access, movie discounts, and golf perks. But it’s pricey (₹5,000 annual fee) and has high interest rates (47.88%). Only worth it if you spend a lot (especially internationally or on weekends), Pay bills fully to avoid interest, use perks like lounge access regularly and avoid if you’re a casual spender or carry balances.
If you want to read a more detailed review of this card and find out its AI-powered unbiased rating, click here.
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