ICICI Bank Diamant Credit Card – Benefits, Fees & Eligibility

ICICI Bank Diamant Credit Card

Introduction

The ICICI Bank Diamant Credit Card is a super-premium offering designed for individuals who seek a luxurious lifestyle. It provides a grand welcome with an Apple MacBook Air and allows cardholders to earn up to 6 Reward Points on every Rs. 100 spent, which can be redeemed against various products or cashback. The card is particularly well-suited for movies and travel enthusiasts, offering benefits like up to 4 complimentary movie tickets monthly on BookMyShow. It also caters to high-end preferences with unlimited complimentary airport lounge access, complimentary Taj Epicure membership, Inner Circle Gold membership, golf privileges, and comprehensive insurance benefits.

Welcome Benefits

• An Apple MacBook Air MMGG2HN/A worth Rs. 75,000 is provided as a welcome gift upon the successful realization of the joining fee.

Fees

• Joining Fee: Rs. 1,25,000 + GST
• Renewal Fee: Rs. 10,000 + GST
• Spend-Based Waiver: The renewal fee is waived off if the annual expenditure in the previous year is Rs. 25 lakh or more.
• Rewards Redemption Fee: Rs. 99 (plus applicable taxes) for every redemption request.
• Foreign Currency Markup: 3.5% of the transaction amount.
• Interest Rates: 3.4% per month.
• Fuel Surcharge: A 1% fuel surcharge is waived off on all fuel transactions up to Rs. 4,000.
• Cash Advance Charges: 2.5% of the amount withdrawn, subject to a minimum charge of Rs. 300.

Rewards

• Rewards Rate
  • Earn 6 Reward Points on every Rs. 100 spent on international transactions.
  • Earn 3 Reward Points on every Rs. 100 spent on domestic purchases.
  • Note: The Payback Rewards Program was replaced by the ICICI Rewards Program from April 1, 2022.
• Movies
  • Up to 4 complimentary movie tickets every month on BookMyShow.
  • There is no maximum cap on the price of complimentary movie tickets.
• Dining
  • A minimum discount of 15% on dining bills at partner restaurants under the ICICI Bank Culinary Treats dining program.
  • Discounts on dining bills at ITC, ITC Heritage, ITC Welcome, and ITC Welcome Heritage hotels with the complimentary Club ITC Culinaire membership.
• Travel
  • Complimentary Taj Epicure Plus and InnerCircle Gold membership.
  • Unlimited complimentary domestic airport lounge access for both primary and guest cardholder(s) with Dreamfolks lounge program and Master Airport Lounge Program.
  • Unlimited complimentary international airport lounge access for both primary and guest cardholder(s) with Dreamfolks lounge program and Master Airport Lounge Program.
• Golf
  • Unlimited complimentary rounds of golf at domestic and international golf courses in over 90 countries worldwide.
• Insurance Benefits
  • Personal Air Accident Insurance: Rs. 3 crore cover.
  • Credit shield: Rs. 50,000 cover.
  • Baggage insurance: Up to Rs. 25,000 cover.
  • Loss of travel documents: Up to USD 500 cover.
  • Loss of checked-in baggage: USD 1200 cover.
  • Delay in receipt of checked-in baggage: USD 300 cover if delayed in excess of 12 hours.
• Lifestyle
  • 24×7 concierge service for assistance with hotel/flight bookings, medical services, and emergency auto assistance.

Rewards Redemption Guide

• Reward Points can be redeemed against a lot of options including gifts and cashback.
• Redemption Rate: 1 Reward Point = Re. 0.25.
• For redemption against the card’s outstanding balance (cashback): Call 080-40146444. The equivalent cashback amount will be credited to your account within 7 days from the request.
• For redemption against gifts: Call 1860-258-5000. Your chosen gift will be sent to your address within 10 days from the request.

Card Review

The ICICI Bank Diamant Credit Card is ideal for individuals who prioritize and maintain a premium lifestyle. It is meticulously designed with luxurious benefits spanning across welcome gifts, rewards programs, travel perks, and dining privileges, aiming to cater to the high-end preferences of its target customers. The card also helps save on dining and travel expenses through complimentary memberships like Taj Epicure and InnerCircle programs, as well as ICICI’s Culinary Treats Program.

Pros/Cons

• Pros:
  • Offers an extensive range of super-premium benefits across travel, dining, golf, lounge access, and insurance.
  • Provides a substantial welcome gift in the form of an Apple MacBook Air.
  • Includes complimentary memberships to prestigious loyalty programs like Taj Epicure Plus and InnerCircle Gold.
  • Features unlimited complimentary domestic and international lounge access.
  • Offers unlimited complimentary golf rounds globally.
• Cons:
  • The annual membership fee of Rs. 10,000 + GST is on the higher side.
  • The joining fee of Rs. 1.25 lakh + GST is notably high among credit cards in India.
  • The welcome gift, an Apple MacBook Air MMGG2HN/A, is an older model (2016 variant), which might not appeal to all users expecting the latest technology.

Important Product Details

• Apple MacBook Air MMGG2HN/A as a welcome gift upon the realization of the joining fee.
• Earn 6 Reward Points per Rs. 100 on international purchases.
• Earn 3 Reward Points per Rs. 100 on domestic purchases.
• Up to 4 complimentary movie tickets every month on BookMyShow.
• A minimum discount of 15% on dining bills at partner restaurants with the Culinary Treats program.
• Discounts on dining bills at ITC hotels and partner hotels with Club ITC Culinaire membership.
• Unlimited complimentary domestic & international lounge access for both primary and guest cardholder(s).
• Unlimited complimentary golf rounds at premium golf courses across India and internationally.
• Complimentary Taj Epicure Plus and InnerCircle Gold membership.
• Travel-related insurance benefits including a personal air accident cover worth Rs. 3 crore and Credit shield cover worth Rs. 50,000.
• 24×7 concierge service for assistance regarding hotel/flight bookings, medical services, and emergency auto assistance.

Other Details

• Best Suited For: Movies, Travel.