ICICI Bank Business Advantage Blue Card – Benefits, Fees & Eligibility

Introduction

The ICICI Bank Business Advantage Blue Credit Card is a powerful financial tool designed for professionals, entrepreneurs, and MSMEs. It simplifies spending and rewards businesses with cashback on eligible transactions. Positioned as a card for business savings and smart spending, it offers key benefits such as cashback on transactions, complimentary domestic airport lounge access, and comprehensive concierge services.

Welcome Benefits

• Joining Fee Waiver: The joining fee can be waived if you spend ₹50,000 or more within 60 days of card issuance.

Fees

• Joining Fee: ₹500 + Goods and Services Tax (GST).
• Renewal Fee: ₹500 + Goods and Services Tax (GST).
• Spend-Based Waiver:
  • Joining Fee Waiver: Spend ₹50,000 or more within 60 days of card issuance.
  • Renewal Fee Waiver: Spend ₹5,00,000 or more on the Card in an anniversary year to get the annual fee waived for the next year.
• Rewards Redemption Fee: Nil.
• Foreign Currency Markup: 3.5% on all international transactions.
• Interest Rates:
  • 3.75% per month if only the minimum due is paid.
  • 3.40% per month (equivalent to 40.80% annually) as a general interest rate.
• Fuel Surcharge: 1% fuel surcharge waiver at all HPCL fuel stations in India.
  • Applicable on monthly fuel transactions up to ₹5,000.
  • Maximum waiver capped at ₹500 per month.
  • Valid only when using ICICI Bank swiping machines.
• Cash Advance Charges: 2.5% of the transaction amount or ₹300, whichever is higher.

Rewards

Cashback on Spends

• If the monthly spend is more than ₹75,000:
  • Domestic Spends: Up to 1% cashback.
  • International Spends: Up to 1% cashback.
• If the monthly spend is between ₹25,000 and ₹75,000:
  • Domestic Spends: Up to 0.5% cashback.
  • International Spends: Up to 1% cashback.
• If the monthly spend is less than ₹25,000: No cashback on domestic or international spends.
• Maximum cashback earned in a month is subject to a cap of ₹500 through eligible spends.
• Eligible Spends include all retail spends, specifically mentioning airline, hotel & restaurant expenses.
• Non-qualifying spends for cashback: Fuel, utility, cash withdrawals, insurance, Government and Tax Payments, Education, all fees, and interest charges.

Additional Cashback on Bill Payment

• Get an additional 0.20% cashback on your total amount due if you make the payment through ICICI Bank Corporate Net Banking.
• This cashback is in addition to what you get on your spends.
• The payment must be made before the payment due date, i.e., within 7 days from the statement generation date.
• The payment amount must be more than the minimum due amount to be eligible for this cashback.

Dining Benefits

• Enjoy a minimum discount of 15% on dining bills under the ICICI Bank Culinary Treats Program at over 2500+ partnered restaurants.

Travel Benefits

• Domestic Airport Lounge Access: Get 8 complimentary visits per year, limited to 2 per quarter, at select airport lounges in India.
  • To avail this benefit, Card spends must be ₹35,000 or more in the previous calendar quarter.
  • This benefit is exclusively applicable to the primary cardholder.

Insurance Benefits

• Personal Air Accident Cover: Get personal air accident insurance cover of up to ₹75 lakhs.
• Zero Credit Card Lost Liability: In case your card is lost or stolen, you will not be liable for fraudulent transactions if you inform about the loss or theft of the card on an immediate basis.

Rewards Redemption Guide

• The cashback earned will be credited to the cardholder’s account within 30-45 days from the date of the transaction.

Card Eligibility Criteria

• Residency: Only Indian residents can apply for this card.
• Age:
  • For self-employed individuals, the age bracket lies between 21 years to 65 years.
  • Add-on cardholders should be at least 18 years of age.
• Business Status:
  • Applicants are typically expected to own or manage a registered business or professional practice in India.
  • A stable financial track record is required.
  • The Bank might also consider other factors pertaining to business stability and history before approving the application.
• Financial Standing: The cardholder must have a stable source of income and a good credit score.

Documents Required

• Identity Proof: Aadhar Card, Passport, Voter’s Id, PAN Card, or Driving License of the applicant.
• Address Proof: Utility bills (not older than three months), Aadhar Card, Passport. Office address proof might also be required in some cases.
• Business-related Documents: Business Registration or Incorporation Certificate, Financial documents (Bank Statements or Audited Financial or GST Returns).
• The bank will perform additional due diligence based on the financial assessment of the submitted documents.

Card Review

The ICICI Bank Business Advantage Blue Credit Card is specifically designed to enhance business savings, offering cashback on recurring business expenses such as air travel, professional payments, and car rentals. A unique and attractive feature is the additional cashback provided when paying the credit card bill within the prescribed time frame. Despite a nominal joining and renewal fee of ₹500, the card offers significant value-added benefits including domestic lounge access, dining discounts, 24x7 concierge services, and insurance benefits. This card is highly recommended for business individuals who frequently incur expenses on air travel and professional services like marketing and accounting, as it allows for substantial savings on business expenditures, coupled with enhanced security features.

Important Product Details

• Up to 1% cashback on eligible domestic and international spends, with a maximum cap of ₹500 per month.
• Additional 0.20% cashback on credit card bill payments made via ICICI Bank Corporate Net Banking, if paid within 7 days of statement generation and exceeding the minimum due.
• 15% discount on dining bills through the ICICI Bank Culinary Treats Program.
• 24x7 concierge services provided by the i-Assist team.
• 1% fuel surcharge waiver at HPCL fuel stations, applicable on transactions up to ₹5,000 monthly, with a maximum waiver of ₹500 per month.
• Complimentary domestic airport lounge access (2 visits per quarter), subject to spending ₹35,000 in the previous quarter.
• Personal air accident insurance cover of up to ₹75 lakhs.
• Joining and Renewal fees are ₹500 + GST, with spend-based waiver conditions available.
• Foreign currency markup fee of 3.5%.
• Interest rates range from 3.40% to 3.75% per month, depending on payment behavior.
• Cash advance charges are 2.5% of the amount or ₹300, whichever is higher.

Other Details

• Concierge Services: The 24/7 i-Assist team provides a wide range of services including Restaurant referral and reservation, flight referral and reservation, booking and delivery of movie tickets, flower and gift assistance, car rental and limousine services, medical concierge privileges, hotel referral and reservation, and emergency auto assistance across India. To contact i-Assist, call 18002670731 (toll-free for MTNL or BSNL lines) or 022-67872016 (standard call charges applicable).
• Card Management: Cardholders can manage card controls and view/download statements using the Self care or Admin Portal.
• Terms & Conditions: For other charges and detailed information, please refer to the Most Important Terms & Conditions (MITC) and applicable Terms & Conditions documents.
• Insurance Nominee: Information on how to register nominee details for the insurance cover is available via the bank's provided resources.