ICICI Bank Coral Credit Card – Benefits, Fees & Eligibility

Introduction

The ICICI Bank Coral Credit Card offers exclusive rewards and benefits across dining, entertainment, and travel. It provides lounge access, reward points on various spends, and concierge services (for the RuPay variant). Cardholders also benefit from Personal Accident Insurance (RuPay variant) and attractive BookMyShow and INOX offers, ensuring a rewarding experience with every transaction. The card is available in four variants: Visa, RuPay, Mastercard, and AmEx, allowing customers to choose their preferred network. It is best suited for everyday or on-the-go spends.

Welcome Benefits

• No specific welcome benefits are offered with the paid Coral variant.

Fees

• Joining Fee: ₹500 + GST
• Annual Fee: ₹500 + GST
• Spend-Based Waiver: The annual fee can be waived off for the next year if the annual spend in the previous year is more than ₹1.5 lakh.
• Rewards Redemption Fee: ₹99 + GST
• Foreign Currency Markup: 3.5% of the transaction amount
• Interest Rates:
  • 3.75% per month (45% per annum) if only the minimum due is paid.
  • 3.75% per month for ATM withdrawals.
• Fuel Surcharge: 1% fuel surcharge waiver for transactions between ₹400 and ₹4,000 at HPCL petrol stations when transacted on ICICI Bank Merchant Services Swipe Machine. This benefit applies to both the primary and supplementary cardholders.
• Cash Advance Charges: 2.5% of the transaction amount or a minimum of ₹500 (whichever is higher).
• Late Payment Charges: Ranging from ₹100 to ₹1,300.

Rewards

• Reward Point Earning:
  • Earn 2 Reward Points for every ₹100 spent on retail spends (excluding fuel).
  • Earn 1 Reward Point for every ₹100 spent on utilities and insurance.
  • Earn from 6x to 12x reward points on iShop.
• Milestone Benefits:
  • Get 2,000 bonus Reward Points on achieving a spend of ₹2 lakh within an anniversary year.
  • Get an additional 1,000 bonus Reward Points for every incremental spend of ₹1 lakh after that, capped at a maximum of 10,000 points per Anniversary year.
• Movies & Entertainment:
  • Get a 25% discount, up to ₹100, on movie tickets on BookMyShow and INOX.
  • This offer is valid on purchasing a minimum of two tickets and can be availed twice a month, subject to seat availability.
• Dining Benefits:
  • Enjoy up to 15% or above discounts on dining bills at over 2,500 premium restaurants through the ICICI Bank Culinary Treats Programme (e.g., TGI Fridays, Café Coffee Day, Pizza Hut, Mainland China, Vaango).
• Travel Benefits:
  • Domestic Airport Lounge Access: Get 1 complimentary domestic airport lounge access every calendar quarter. To avail this benefit, you must spend ₹75,000 or more on your Coral Credit Card in the preceding calendar quarter. This benefit is exclusively applicable to the primary cardholder.
  • Railway Lounge Access: Get 1 complimentary access to select railway lounges in India every quarter. Simply present your ICICI Bank Coral Credit Card to enjoy the privileges. Any subsequent access beyond the permitted number will be charged as per the lounge service provider's rates.
  • International Lounge Access: Not applicable.
• Insurance Benefits:
  • Get a Personal Accident Insurance Cover of ₹2 lakh (applicable for the RuPay variant).
  • Cardholders are protected against fraudulent transactions with Counterfeit Card Liability, ensuring coverage against unauthorised usage.
  • The card provides an Account Takeover Cover, which safeguards you in case your personal information is accessed or misused by a third party without your consent.
• Lifestyle Benefits:
  • Concierge Services: Enjoy 24x7 concierge services (applicable for the RuPay variant). You can contact the toll-free number 18002670731 for assistance.
  • Security Features: The Credit Card comes with an embedded microchip that provides enhanced security against counterfeiting and duplication. For transactions at merchant outlets, customers must enter a Personal Identification Number (PIN) to complete the payment. However, this PIN is not required for online transactions.
• Golf Benefits: Not applicable.

Rewards Redemption Guide

• Reward points are redeemable against an array of categories, including Health & Beauty, Travel & Luggage, Shopping Vouchers, Home Appliances, Electronics, and Fashion & Lifestyle.
• Reward points can also be redeemed for cash, where 1 Reward Point is equivalent to Re. 0.25.
• To redeem points for cash, you can contact ICICI Bank Credit Card customer care at 080-4014-6444.
• For general redemption inquiries, you can call 1860-258-5000.

Card Eligibility Criteria

• Age:
  • Primary Cardholder: Must be an Indian citizen, within the age group of 21-65 years.
  • Supplementary Cardholder: Must be 18 years or more.
• Income:
  • Salaried individuals: Minimum monthly income of ₹20,000.
  • Self-employed individuals: Minimum annual income of ₹2,40,000.
  • The net income as per ITR for the primary cardholder must be ₹5 lakh.
• Documents Required:
  • Identity Proof: Voter’s ID, Aadhaar Card, PAN Card, Passport, etc.
  • Address Proof: Aadhaar Card, Driving License, Passport, or utility bills.
  • Income Proof: Salary slips or the latest ITR.
  • No physical documents may be required, suggesting digital submission options like DigiLocker.

Card Review

The ICICI Bank Coral Credit Card is considered an excellent choice, particularly for individuals who frequently spend on movies, dining, and travel. Despite being a basic credit card, it offers valuable benefits like complimentary railway lounge access without any spend-based criteria and domestic airport lounge access with a reasonable spend requirement (₹75,000 per quarter). The RuPay variant also offers the convenience of linking to UPI for payments. Users can save significantly on movie tickets, potentially up to ₹2,400 annually (assuming ₹400 per ticket, availed twice a month), and earn cash rewards, with up to ₹750 in cash rewards on an annual spending of ₹3 lakh. The card's comprehensive features, including fuel surcharge waiver, dining discounts, and an annual fee waiver linked to spending, make it a reasonable and attractive option. While there are no explicit joining benefits for the paid variant, its overall value proposition for everyday and on-the-go spends is strong.

Pros

• Offers free railway lounge access every quarter without any spend-based criteria.
• The RuPay variant can be easily linked to UPI for convenient payments.
• Provides complimentary domestic airport lounge access with a manageable spend condition.
• Offers good discounts on movie tickets and dining.
• Includes a fuel surcharge waiver.
• Features milestone reward points, enhancing overall value.
• Comes with insurance benefits for added security.

Cons

• The paid Coral variant does not offer any specific joining benefits.

Important Product Details

• Offers 1 complimentary domestic airport lounge access per quarter (subject to ₹75,000 spend in the preceding quarter).
• Provides 1 complimentary railway lounge access per quarter.
• Earns 2 Reward Points per ₹100 on most retail spends and 1 Reward Point on utilities & insurance.
• Milestone benefits include up to 10,000 bonus Reward Points annually.
• Provides a 25% discount (up to ₹100) on movie tickets on BookMyShow and INOX, twice a month.
• Features dining discounts through the Culinary Treats Programme.
• Includes a 1% fuel surcharge waiver at HPCL pumps for transactions between ₹400-₹4000.
• Comes with a Personal Accident Insurance Cover of ₹2 lakh (RuPay variant) and fraud protection (Counterfeit Card Liability, Account Takeover Cover).
• Joining and Annual Fees are ₹500 + GST, with annual fee waiver on spending ₹1.5 lakh.
• Foreign currency markup is 3.5%.
• Interest rate is 3.75% per month (45% per annum).
• Reward points are redeemable for various categories or as cash (1 RP = Re. 0.25).

Other Details

• The card comes in four variants: Visa, RuPay, Mastercard, and AmEx.
• You can know the payment due date of your ICICI Bank Coral Credit Card through the monthly statement, iMobile app, Internet Banking, or by calling Customer Care on 1800 1080.
• If you pay more than the total amount owed, the excess amount appears on your monthly bank statement and is deducted from future purchases.
• To apply for the card, you can visit the nearest ICICI Bank branch offline or apply online through the bank's website.