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

Platinum Chip Credit Card

The Platinum Chip Credit Card is a cost-free credit card from ICICI Bank, featuring no joining or annual fees. It offers an excellent opportunity to earn reward points on nearly all purchases, which can be redeemed against various options including cashback. Cardholders also benefit from a 1% fuel surcharge waiver at HPCL pumps and exclusive dining discounts through the ICICI Bank Culinary Treats Programme across 2500+ restaurants.

Welcome Benefits

• No specific welcome benefits are mentioned for this card.

Fees

• Joining Fee: Nil / Lifetime Free
• Renewal Fee: Nil / Lifetime Free
• Rewards Redemption Fee: ₹99 + GST per redemption request.
• Foreign Currency Markup: 3.5%
• Interest Rates:
  • 3.75% per month (equivalent to 45% per annum) on overdue amounts.
  • 3.75% per month on ATM withdrawals.
• Fuel Surcharge: 1% fuel surcharge waiver on transactions worth ₹400 - ₹4,000 at HPCL pumps.
• Cash Advance Charges: Higher of ₹500 or 2.5% of the amount withdrawn.
• Late Bill Payment: Ranging from ₹100 to ₹1300.

Rewards

• Reward Point Earning:
  • Earn 2 Reward Points for every ₹100 spent on retail purchases.
  • Earn 1 Reward Point for every ₹100 spent on utility and insurance payments.
  • Earn from 6x to 12x reward points on iShop.
• Dining: Avail up to 15% discount on dining through the ICICI Bank Culinary Treats Programme across 2500+ restaurants in India.
• Fuel: Get a 1% fuel surcharge waiver on fuel transactions ranging from ₹400 to ₹4,000 at HPCL fuel outlets in India. This benefit applies to both the primary cardholder and Plus (supplementary) cardholders.
• Lifestyle: Easy EMI conversion facility allows you to shop now and pay later.
• Redemption Categories: Reward points can be redeemed across multiple categories including:
  • Health & Beauty
  • Travel & Luggage
  • Shopping Vouchers
  • Home Appliances
  • Electronics
  • Fashion & Lifestyle

Rewards Redemption Guide

• Redemption Value: 1 Reward Point is equivalent to ₹0.25.
• Redemption Process:
  • Redeem earned reward points for cashback by calling 080-40146444.
  • Redeem earned reward points for gifts by calling 1860-258-5000.
  • Reward points can be redeemed across various categories as listed above.
• Redemption Fee: A fee of ₹99 + GST is charged per redemption request.

Card Eligibility Criteria

• Age:
  • The primary applicant must be an Indian citizen between 21 and 65 years of age.
  • The age of the add-on applicant should be above 18 years.
• Income:
  • A salaried individual with a monthly income of at least ₹20,000.
  • A self-employed individual with a monthly income of at least ₹20,000.
  • Applicants should have a stable source of income.
• Credit Score: The applicant should possess a decent credit score.

Documents Required

• Identity Proof: Examples include Aadhar Card, Voter’s ID, PAN Card, Driving License.
• Address Proof: Examples include Aadhar Card, utility bills, Voter’s ID, Passport, Driving License.
• Income Proof: Latest salary slips/bank statements or latest audited Income Tax Return (ITR).
• No physical documents are required if applying via DigiLocker.

Card Review

The Platinum Chip Credit Card is an excellent choice for individuals seeking a cost-free credit card with significant saving opportunities on everyday spends. It stands out with its zero joining and annual fees, making it highly accessible. The card rewards users with points on most transactions, including higher rewards on iShop, and offers valuable benefits like dining discounts through the Culinary Treats Programme and a 1% fuel surcharge waiver at HPCL pumps. This card is best suited for those looking for an entry-level card that provides maximum benefits without recurring charges, offering great value for daily expenses and lifestyle perks. Its robust chip and PIN security features also enhance transaction safety.

Important Product Details

• No Joining Fee and No Annual Fee.
• Earn 2 Reward Points on every ₹100 spent on retail transactions.
• Earn 1 Reward Point on every ₹100 spent on utility and insurance payments.
• Earn from 6x to 12x reward points on iShop.
• Get 1% fuel surcharge waiver on transactions worth ₹400 - ₹4,000 at HPCL pumps.
• Enjoy up to 15% off on dining through the ICICI Bank Culinary Treats Programme.
• Offers easy EMI conversion for purchases.
• Reward points can be redeemed across multiple categories including cashback, gifts, Health & Beauty, Travel & Luggage, Shopping Vouchers, Home Appliances, Electronics, Fashion & Lifestyle.
• Features an embedded microchip that provides enhanced security against counterfeiting and duplication, requiring a PIN for in-person transactions.

Other Details

• CVV (Card Verification Value): The three-digit security code found next to the signature panel on the back of the Platinum Chip Credit Card. It can also be checked by logging in to the iMobile app or Internet Banking.
• Payment Due Date: The payment due date for the Platinum Chip Credit Card can be known through the monthly statement, iMobile app, Internet Banking, or by contacting Customer Care on 1800 1080.
• Chip and PIN Security: 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, where other security measures such as OTP verification may apply. The chip and PIN provide robust protection against card misuse by preventing unauthorized access even if the card is lost or stolen.
• ICICI Bank Plus Card: This allows cardholders to extend benefits to their loved ones. The 1% fuel surcharge waiver also applies to Plus (supplementary) cardholders.
• Application Process: You can apply for the Platinum Chip Credit Card both online and offline. To apply offline, visit your nearest ICICI Bank branch with all necessary documents. To apply online, click on "Apply Now", locate the Platinum Chip Credit Card, click on "Get the card online", and fill in the application form.
• Application Status: If you have already applied, you can check the status of your application by visiting the ICICI Bank’s online application tracking page, contacting ICICI Bank credit card customer care, or by visiting your nearest ICICI Bank branch.