ICICI Bank VISA Signature Credit Card – Benefits, Fees & Eligibility

ICICI Bank VISA Signature Credit Card

Introduction

The ICICI Bank VISA Signature Credit Card is designed to offer exclusive rewards and benefits, particularly targeting high-income individuals interested in golf privileges and premium travel. It comes with a joining fee of Rs. 25,000 and offers a substantial welcome benefit of 30,000 Hand-picked Rewards. Cardholders can earn up to 10 Hand-picked Rewards on every Rs. 100 spent, which are redeemable across various categories like travel, dining, gadgets, and Air miles through the Hand-picked Rewards catalogue. The card also provides a complimentary Priority Pass Membership for access to over 600 airport lounges worldwide and features a 24x7 personal concierge service.

Welcome Benefits

• You receive 30,000 Hand-picked Rewards as a welcome benefit upon card issuance.

Fees

• Joining Fee: Rs. 25,000 + GST
• Renewal Fee: Rs. 2,000 + GST
• Spend-Based Waiver: Not Applicable
• Rewards Redemption Fee: Rs. 99 (plus applicable taxes) per redemption request
• Foreign Currency Markup: 3.5% of the transaction amount
• Interest Rates: 3.4% per month (or 40.8% per annum)
• Fuel Surcharge: 1% fuel surcharge waiver on all petrol pumps in India.
• Cash Advance Charges: 2.5% of the amount withdrawn or Rs. 300 (whichever is higher)

Rewards

• Rewards Rate (On spends up to Rs. 5 lakhs):
  • 5 Hand-picked Rewards for every Rs. 100 spent on International purchases.
  • 4 Hand-picked Rewards for every Rs. 100 spent on travel bookings.
  • 2 Hand-picked Rewards for every Rs. 100 spent on hotels/restaurant transactions.
  • 1 Hand-picked Reward on every other spend of Rs. 100.
• Rewards Rate (On spends over Rs. 5 lakhs):
  • 10 Hand-picked Rewards for every Rs. 100 spent on International purchases.
  • 8 Hand-picked Rewards for every Rs. 100 spent on travel bookings.
  • 4 Hand-picked Rewards for every Rs. 100 spent on hotels/restaurant transactions.
  • 2 Hand-picked Rewards on every other spend of Rs. 100.
• Fuel Transactions: Not eligible for Hand-picked Rewards.
• Movie & Dining: Not Applicable (No specific benefits mentioned beyond general reward earning on restaurant transactions).
• Travel:
  • Complimentary Priority Pass Membership.
  • The membership, valued at US $99, is complimentary.
• Domestic Lounge Access: Not Applicable (No specific domestic lounge access benefit mentioned).
• International Lounge Access: Not Applicable for free access. While the Priority Pass membership is complimentary, a lounge usage fee of US $27 + GST per person per visit will be charged for accessing international lounges.
• Golf:
  • Enjoy 1 complimentary golf round each month to domestic/international golf courses.
  • This benefit is available on a total retail spend of over Rs. 1 lakh in the previous calendar month.
  • Bookings can be made by logging in to www.teetimes.golftripz.com using the email ID registered with your ICICI Bank VISA Signature credit card.
• Insurance Benefits: Not Applicable (No specific insurance benefits mentioned).
• Lifestyle:
  • Shopping vouchers worth Rs. 1000 for every 1250 Hand-picked Rewards redeemed.

Rewards Redemption Guide

• Hand-picked Rewards can be redeemed from the Hand-picked Rewards catalogue.
• Redemption options include travel, dining, fashion, gadgets, shopping, and InterMiles.
• You can get a shopping voucher worth Rs. 1000 for every 1250 Hand-picked Rewards.
• Examples of Hand-picked Rewards required for Rs. 1,000 gift vouchers:
  • Amazon: 1,500 Hand-picked Rewards
  • Flipkart: 1,450 Hand-picked Rewards
  • Croma: 1,300 Hand-picked Rewards
  • Nike: 1,250 Hand-picked Rewards
  • Big Bazaar: 1,400 Hand-picked Rewards
  • Pizza Hut: 1,300 Hand-picked Rewards

Card Review

The ICICI Bank VISA Signature Credit Card is well-suited for high-income individuals who value golf privileges and desire a card with a strong rewards program across various spending categories. The card offers exclusive Hand-picked Rewards that are highly versatile, redeemable for travel, dining, AirMiles, and shopping vouchers, including a Rs. 1000 voucher for every 1250 Hand-picked Rewards. The significant welcome benefit of 30,000 Hand-picked Rewards and the complimentary Priority Pass membership add considerable value for frequent travelers, despite the associated lounge usage fee. The tiered reward structure, which doubles rewards on spends over Rs. 5 lakhs, incentivizes higher spending. While it has a high joining fee, the comprehensive benefits and reward potential can lead to substantial savings for the target audience.

Important Product Details

• Earn up to 10 Hand-picked Rewards on every Rs. 100 spent.
• Receive a welcome benefit of 30,000 Hand-picked Rewards.
• Get a complimentary Priority Pass Membership.
• Enjoy 1 complimentary golf round every month.
• Benefit from a 24x7 personal concierge service.
• Receive shopping vouchers worth Rs. 1000 for every 1250 Hand-picked Rewards.
• Rewards can be redeemed from a diverse Hand-picked Rewards catalog for travel, fashion, dining, gadgets, and AirMiles.
• Higher reward rates for spends exceeding Rs. 5 lakhs annually (2X rewards).
• Fuel transactions are not eligible for rewards.
• A reward redemption fee of Rs. 99 applies per request.
• Foreign currency markup is 3.5% of the transaction amount.

Other Details

• The card offers 24x7 personal concierge service.
• You get zero liability protection against any fraudulent transactions done on your card once the loss is reported to ICICI Bank.