ICICI Bank Diamant Credit Card – Benefits, Fees & Eligibility

Introduction

The ICICI Bank Diamant Credit Card is a super-premium offering from ICICI Bank, positioned for individuals seeking a luxurious lifestyle. Although currently discontinued, it was designed to provide a high-value experience, welcoming new cardholders with an Apple MacBook Air. This card allowed users to earn up to 6 Reward Points on every Rs. 100 spent and offered a range of exclusive benefits including unlimited complimentary airport lounge access, complimentary Taj Epicure membership, and unlimited golf privileges.

Welcome Benefits

• Apple MacBook Air MMGG2HN/A worth Rs. 75,000 on successful realization of the joining fee.

Fees

• Joining Fee: Rs. 1,25,000 + GST
• Annual Fee: Rs. 10,000 + GST
• Spend-Based Waiver: The renewal fee is waived off on an annual expenditure of Rs. 25 lakh or more in the previous year.
• 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 Waiver: 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• Cash Advance Charges: 2.5% of the amount withdrawn, subject to a minimum charge of Rs. 300.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

• Reward Rate:
  • 6 Reward Points per Rs. 100 on international spends.
  • 3 Reward Points per Rs. 100 on domestic spends.
• Movie Benefits:
  • Up to 4 complimentary movie tickets each month on BookMyShow.
  • There is no cap on the ticket price under this offer.
• Dining Benefits:
  • Minimum 15% discount on dining bills at partner restaurants under the ICICI Bank Culinary Treats program.
  • Discounts on dining at ITC, ITC Heritage, ITC Welcome, and ITC Welcome Heritage hotels with complimentary Club ITC Culinaire membership.
• Travel Benefits:
  • Complimentary Taj Epicure Plus and InnerCircle Gold membership.
  • Unlimited complimentary domestic airport lounge access with Dreamfolks lounge program.
  • Unlimited complimentary international airport lounge access with Master Airport Lounge Program.
• Golf Benefits: Unlimited complimentary rounds of golf at domestic and international golf courses in over 90 countries.
• 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 in excess of 12 hours.
• Lifestyle: 24×7 concierge service for assistance regarding hotel/flight bookings, medical services, and emergency auto assistance.

Rewards Redemption Guide

• The ICICI Reward Points can be redeemed against cashback or gifts at a rate of 1 Reward Point = Rs. 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.
• From April 1, 2022, the Payback Rewards Program has been replaced by the ICICI Rewards Program.

Card Review

The ICICI Bank Diamant Credit Card was designed for individuals who prioritize a premium lifestyle and are willing to pay a high annual fee for exclusive benefits.

• Pros:
  • High-value welcome gift (Apple MacBook Air).
  • Excellent reward rate on international spends.
  • Extensive travel benefits including unlimited lounge access and Taj Epicure/InnerCircle memberships.
  • Generous movie and dining privileges.
  • Comprehensive insurance coverage.
  • Unlimited golf access.
• Cons:
  • Very high joining fee (Rs. 1.25 lakh + GST) and annual fee (Rs. 10,000 + GST).
  • The welcome gift MacBook Air MMGG2HN/A was an older model (2016 variant).
  • The card is currently discontinued.
• Verdict: This card was best suited for high-net-worth individuals with significant international spending, who could leverage its extensive luxury and travel benefits, and for whom the high fees were justified by the premium perks and welcome gift.

Important Product Details

• Super-premium credit card offering from ICICI Bank.
• Welcome gift of an Apple MacBook Air MMGG2HN/A worth Rs. 75,000.
• Earn 6 Reward Points per Rs. 100 on international purchases and 3 Reward Points per Rs. 100 on domestic purchases.
• Up to 4 complimentary movie tickets every month on BookMyShow with no cap on ticket price.
• Minimum 15% discount on dining bills at partner restaurants under the Culinary Treats program.
• Discounts on dining at ITC hotels and partner hotels with Club ITC Culinaire membership.
• Unlimited complimentary domestic and 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 various assistance needs.
• Renewal fee waiver on annual expenditure of Rs. 25 lakh or more.

Other Details

• The card is currently discontinued.