ICICI BankICICI Bank Ferrari Signature Credit Card – Benefits, Fees & Eligibility
Is the ICICI Bank Ferrari Signature Credit Card Right for You?
The ICICI Bank Ferrari Signature Credit Card is best suited for users who prioritize Movies, Travel. With a joining fee of ₹3,999 + GST and a renewal fee of ₹999 + GST, this card is positioned for cardholders who can maximize its benefits to justify the cost. It offers Reward Points as its primary reward mechanism, with a rewards rate of Earn 2 Reward Points on every Rs. 100 spent..
Key Card Details
₹3,999 + GST
₹999 + GST
Reward Points
3.5% on all overseas transactions.
Notable Perks
Domestic Lounge Access
2 complimentary domestic lounge accesses each calendar quarter under the Visa lounge access program.
International Lounge Access
Not applicable.
Insurance Coverage
Not Applicable
Spend-Based Waiver
Annual fee waived on spending Rs. 2,50,000 or more in the previous year.
Movie Benefits
Buy 1 Get 1 Free on movie tickets (up to 2/month, max Rs. 250/ticket) on BookMyShow.
Golf Benefits
Not Applicable
Things to Consider
The card charges a notable rewards redemption fee of Rs. 99 on every request.
A high foreign currency markup of 3.5% applies to all international transactions.
No reward points are earned on fuel transactions, limiting overall reward accumulation.
Benefits & Features
Welcome Offer
An exclusive Scuderia Ferrari Watch is provided as a welcome gift without any spend criteria.
Rewards Rate
Earn 2 Reward Points on every Rs. 100 spent.
Reward Type
Reward Points
Reward Redemption
Redeem Reward Points for gifts & cashback via customer care. 1 RP = Re. 0.25.
Domestic Lounge Access
2 complimentary domestic lounge accesses each calendar quarter under the Visa lounge access program.
International Lounge Access
Not applicable.
Premium Benefits
Not Applicable
Insurance Coverage
Not Applicable
Movie Benefits
Buy 1 Get 1 Free on movie tickets (up to 2/month, max Rs. 250/ticket) on BookMyShow.
Dining Benefits
15%+ discount on dining via ICICI Bank Culinary Treats Programme at 2,500+ premium restaurants.
Travel Benefits
Top spenders get trip to Ferrari home in Italy, race access, gala. Also 2 quarterly domestic lounge accesses.
Fees & Charges
Joining Fee
₹3,999 + GST
Renewal Fee
₹999 + GST
Spend-Based Waiver
Annual fee waived on spending Rs. 2,50,000 or more in the previous year.
Foreign Currency Markup
3.5% on all overseas transactions.
Interest Rates
3.40%
Fuel Surcharge Waiver
1% fuel surcharge waiver at all HPCL fuel stations for transactions up to Rs. 4,000.
Cash Advance Charges
2.5% of transacted amount, subject to a minimum of Rs. 300.
Rewards Redemption Fee
Rs. 99 on every redemption request.
Pros & Cons
Pros
Key benefits and features of this card.
Exclusive Ferrari privileges, including discounts on merchandise & a trip to Italy for top spenders.
Receive a premium Scuderia Ferrari Watch as a welcome gift without any spend criteria.
Enjoy complimentary movie tickets monthly & domestic lounge access quarterly for entertainment and travel.
Benefit from a good rewards rate of 2 points per Rs. 100 spent on most transactions.
Significant dining discounts through the ICICI Bank Culinary Treats Programme at many restaurants.
Cons
Key drawbacks and limitations of this card.
The card charges a notable rewards redemption fee of Rs. 99 on every request.
A high foreign currency markup of 3.5% applies to all international transactions.
No reward points are earned on fuel transactions, limiting overall reward accumulation.
Lacks international lounge access, which is a drawback for frequent overseas travelers.
Annual and joining fees are relatively high, even with a spend-based waiver option.
Product Details
Welcome gift of a Scuderia Ferrari Watch.
Up to 2 complimentary movie tickets every month (Buy 1 Get 1 Free on BookMyShow).
15% or more discount on dining at 2,500+ premium restaurants.
2 complimentary domestic lounge accesses every quarter.
Top spenders can win a trip to the Ferrari home in Italy.
Up to 20% off on Ferrari merchandise in Italy and 15% off online.
Enjoy 1% fuel surcharge waiver at all HPCL pumps.
Annual fee waiver on spending Rs. 2,50,000+ in the previous year.
Benefits & Features
Welcome Offer
An exclusive Scuderia Ferrari Watch is provided as a welcome gift without any spend criteria.
Rewards Rate
Earn 2 Reward Points on every Rs. 100 spent.
Reward Type
Reward Points
Reward Redemption
Redeem Reward Points for gifts & cashback via customer care. 1 RP = Re. 0.25.
Domestic Lounge Access
2 complimentary domestic lounge accesses each calendar quarter under the Visa lounge access program.
International Lounge Access
Not applicable.
Premium Benefits
Not Applicable
Insurance Coverage
Not Applicable
Movie Benefits
Buy 1 Get 1 Free on movie tickets (up to 2/month, max Rs. 250/ticket) on BookMyShow.
Dining Benefits
15%+ discount on dining via ICICI Bank Culinary Treats Programme at 2,500+ premium restaurants.
Travel Benefits
Top spenders get trip to Ferrari home in Italy, race access, gala. Also 2 quarterly domestic lounge accesses.
What matters, explained clearly
ICICI Bank Ferrari Signature Credit Card
Introduction
The ICICI Bank Ferrari Signature Credit Card is a co-branded credit card launched in partnership with Ferrari, designed specifically for Ferrari enthusiasts. It offers exclusive Ferrari privileges, including a discount of up to 20% on Ferrari merchandise. Top spenders can receive exceptional benefits such as a trip to Ferrari’s home in Italy. Additionally, cardholders earn 2 Reward Points on every Rs. 100 spent, which can be redeemed across various categories. The card also provides travel and entertainment benefits, including up to 2 complimentary movie tickets monthly and 2 complimentary domestic lounge accesses quarterly, alongside a spend-based annual fee waiver and fuel surcharge waiver.
Welcome Benefits
- An exclusive Scuderia Ferrari Watch is provided as a welcome gift.
- Every cardholder receives the Scuderia Ferrari Watch without any spend criteria.
Fees
- Joining Fee: Rs. 3,999 + GST
- Renewal Fee: Rs. 999 + GST
- Spend-Based Waiver: The annual fee is waived off on spending Rs. 2,50,000 or more in the previous year. This also applies to the renewal fee.
- Rewards Redemption Fee: Rs. 99 on every redemption request.
- Foreign Currency Markup: 3.5% on all overseas transactions.
- Interest Rates: 3.40%
- Fuel Surcharge: 1% fuel surcharge waiver at all HPCL fuel stations for fuel transactions worth up to Rs. 4,000.
- Cash Advance Charges: 2.5% of the transacted amount, subject to a minimum of Rs. 300.
Rewards
- Rewards Rate: Earn 2 Reward Points on every Rs. 100 spent.
- Reward Exclusions: No reward points are earned for fuel transactions.
Movie & Dining
- Movies: Avail Buy 1 Get 1 Free offer on movie tickets on BookMyShow, up to 2 complimentary movie tickets every month. The maximum price of the complimentary ticket is capped at Rs. 250 for each ticket.
- Dining: Enjoy a discount of 15% or more on dining through the ICICI Bank Culinary Treats Programme, available at 2,500+ premium restaurants.
Travel
- Domestic Lounge Access: Get 2 complimentary domestic lounge accesses each calendar quarter under the Visa lounge access program.
- International Lounge Access: Not applicable.
Ferrari Privileges
- Ferrari Merchandise: Receive up to 20% discount on Ferrari merchandise at the Ferrari store in Italy.
- Online Merchandise: Get up to 15% discount on Ferrari merchandise at the online store.
- Top Spender Benefits: Top spenders among cardholders receive exclusive privileges, including:
- A trip to the Ferrari home in Maranello, Italy.
- A chance to attend the official Ferrari challenge race.
- An opportunity to attend a Gala event with VIP guests in Maranello, Italy.
Fuel
- Fuel Surcharge Waiver: A 1% fuel surcharge is waived at all HPCL fuel stations for fuel transactions up to Rs. 4,000 when using the card.
Rewards Redemption Guide
- The earned Reward Points can be redeemed against an array of categories, including gifts and cashback, by contacting ICICI Bank customer care.
- Redemption Value: 1 ICICI Reward Point = Re. 0.25.
- A Rewards Redemption Fee of Rs. 99 applies to every redemption request.
Card Review
The ICICI Bank Ferrari Signature Credit Card is an excellent choice for Ferrari enthusiasts, offering exclusive Ferrari privileges alongside a comprehensive range of benefits across travel, entertainment, and dining categories. A major highlight is the exclusive Scuderia Ferrari Watch provided as a welcome gift to every cardholder without any spend criteria. Furthermore, the card offers aspirational benefits for top spenders, such as a trip to Italy. Considering the diverse benefits and exclusive perks, this card is suitable for individuals seeking a credit card with multiple rewarding features.
Important Product Details
- Welcome gift of a Scuderia Ferrari Watch.
- Earn 2 Reward Points on every spend of Rs. 100.
- Up to 2 complimentary movie tickets every month (Buy 1 Get 1 Free offer on BookMyShow, capped at Rs. 250 per ticket).
- A discount of 15% or more on dining across 2,500+ premium restaurants.
- 2 complimentary domestic lounge accesses every quarter.
- Top spenders get exclusive privileges, including a trip to the Ferrari home in Italy.
- Up to 20% off on Ferrari merchandise at the Ferrari store in Italy and up to 15% off at the online store.
- Spend-based waiver of the annual membership fee if Rs. 2,50,000 or more is spent in the previous year.
- 1% fuel surcharge waiver at all HPCL pumps for transactions up to Rs. 4,000.
- Joining Fee: Rs. 3,999 + GST.
- Renewal Fee: Rs. 999 + GST.
- Rewards Redemption Fee: Rs. 99 on every redemption request.
- Foreign Currency Markup: 3.5% on all overseas transactions.
- No reward points are earned for fuel transactions.
- No complimentary international lounge access is provided.
Other Details
- Best Suited For: Movies, Travel.