ICICI Bank HPCL Platinum Credit Card – Benefits, Fees & Eligibility

Introduction

The ICICI Bank HPCL Platinum Credit Card, issued by ICICI Bank, is an entry-level to mid-range credit card primarily designed for individuals who frequently spend on fuel. Its key differentiating benefits include exclusive cashback on fuel purchases at HPCL petrol pumps, a 1% fuel surcharge waiver, and a rewarding points system for all other retail spending. Additionally, the card offers attractive benefits on movies and dining, making it a versatile option for everyday savings.

Fees

• Joining Fee: Rs. 199 + GST
• Annual Fee: Rs. 199 + GST
• Spend-Based Waiver: The annual renewal fee can be waived if you spend Rs. 50,000 or more in the preceding year.
• Rewards Redemption Fee: Rs. 99 on every redemption request.
• Foreign Currency Markup: 3.50% on all foreign currency spends.
• Interest Rates: 3.40% per month (equivalent to 40.8% annually).
• Fuel Surcharge Waiver: 1% fuel surcharge waiver at all HPCL pumps for transactions up to Rs. 4,000.
• Cash Advance Charges: 2.5% of the transaction amount or Rs. 300, whichever is higher.

Rewards

• General Rewards Rate: Earn 2 Reward Points for every Rs. 100 spent on all retail purchases, excluding fuel transactions.
• Fuel Benefits:
  • Receive 2.5% cashback on fuel purchases at HPCL pumps, with a maximum cashback of Rs. 100 per month. This offer is applicable when the credit card is swiped on ICICI merchant services POS machines.
  • Enjoy a 1% fuel surcharge waiver at all HPCL pumps for transactions up to Rs. 4,000.
• Movie & Dining:
  • Get Rs. 100 off on movie ticket bookings via BookMyShow, which can be availed a maximum of twice in a month, potentially saving up to Rs. 2,400 annually.
  • Benefit from a minimum 15% savings on dining bills through the ICICI Bank Culinary Treats Programme at over 2,500 participating restaurants.
• Travel & Lounge Access:
  • Receive a complimentary Dreamfolks membership, with the USD 99 annual membership fee waived.
  • Access 2 complimentary airport lounge visits outside India every year.
  • Enjoy 2 complimentary spa sessions at selected airports in India every year.

Rewards Redemption Guide

• General Redemption: 1 Reward Point is equivalent to Rs. 0.25 for redemption against the card’s statement balance or for gifts.
• Fuel Redemption: Reward Points earned can be redeemed for fuel purchases at HPCL filling stations, where 2,000 Reward Points are equivalent to Rs. 500 worth of fuel.
• Redemption Fee: A fee of Rs. 99 is charged on every redemption request.

Card Review

The ICICI Bank HPCL Platinum Credit Card is an excellent choice for individuals who frequently make fuel purchases, particularly at HPCL pumps. Its low joining and annual fees, both at Rs. 199 + GST, are easily waivable by spending Rs. 50,000 in the preceding year. The card offers significant savings through 2.5% cashback on HPCL fuel and a 1% fuel surcharge waiver. Beyond fuel, it provides a decent rewards rate on retail spends, along with valuable movie and dining discounts. The complimentary Dreamfolks membership, offering international lounge access and domestic spa sessions, adds a premium touch. While it lacks insurance benefits and has a redemption fee, its overall value proposition for fuel-centric spending, coupled with lifestyle benefits, makes it a strong contender in its segment.

Important Product Details

• Earn 2 Reward points for every Rs. 100 spent on all retail purchases, excluding fuel.
• Receive 2.5% cashback (up to Rs. 100 per month) on fuel transactions at HPCL pumps when swiping the card through ICICI merchant services swipe machines.
• Enjoy exclusive dining offers, including a minimum discount of 15% on dining bills at partner restaurants with the ICICI Bank Culinary Treats Program.
• The card renewal fee is waived upon spending Rs. 50,000 or more in the previous year.
• Benefit from a 1% fuel surcharge waiver at all HPCL pumps for transactions up to Rs. 4,000.
• Get Rs. 100 off on movie tickets via BookMyShow, applicable twice a month.
• Receive complimentary Dreamfolks membership, including 2 complimentary airport lounge visits outside India and 2 spa sessions at selected airports in India annually.
• The interest rate is 3.40% per month (40.8% annually).
• A foreign currency markup of 3.50% applies to all international spends.
• Cash advance charges are 2.5% of the transaction amount or Rs. 300, whichever is higher.

Other Details

• This card is currently discontinued.
• The card does not provide any insurance benefits.