MakeMyTrip ICICI Bank Credit Card – Benefits, Fees & Eligibility

Introduction

The MakeMyTrip ICICI Bank Credit Card is designed for travel expenses made through the MakeMyTrip platform, making it ideal for frequent travelers or those who book extensively for flights, hotels, and other travel needs. With an annual fee of ₹999, the card offers substantial value, including a ₹1,000 MakeMyTrip voucher and MMTBLACK Gold Membership. A unique feature of this card is that approved applicants receive two cards, one on the RuPay network and one on the Mastercard network. The RuPay variant allows for convenient UPI linkage for online payments, while cardholders earn rewards in the form of myCash. The card provides benefits such as domestic and international airport lounge access and a low foreign currency markup, establishing it as a comprehensive travel credit card.

Welcome Benefits

• Cardholders receive a ₹1,000 MakeMyTrip voucher.
  • The voucher is issued within 45 days of the joining fee being realized.
  • There is no minimum order requirement for using this voucher.
  • The voucher is valid for three months from the date of issuance.
• Complimentary MMTBLACK Gold Membership.
  • The membership is valid for 12 months for cardholders.
  • Existing MMTBLACK Gold Tier members will have their tenure extended by 12 months.

Fees

• Joining Fee: ₹999 + GST
• Renewal Fee: ₹999 + GST
• Spend-Based Waiver: The annual fee is waived on spending ₹3 Lakh in a card anniversary year.
• Rewards Redemption Fee: Nil
• Foreign Currency Markup: 0.99%
• Interest Rates: 3.75% Per Month (45% Per Annum)
• Fuel Surcharge: Not applicable.
• Cash Advance Charges: 2.5%

Rewards

• Reward Type: Reward Points (myCash)
• Reward Redemption Value: 1 myCash = ₹1
• Reward Rate Overview (from key features):
  • Earn 6 myCash for every ₹200 spent on Hotel Bookings with MakeMyTrip.
  • Earn 3 myCash for every ₹200 spent on Flight, Bus, and Cab Bookings with MakeMyTrip.
  • Earn 1 myCash for every ₹200 spent on Other Spends.
• Detailed myCash Earning Structure (from dedicated section):
  • Hotel Bookings on MMT: Earn 12 myCash on every ₹200 spent.
  • Flight, Cab, Bus, and Holiday Bookings on MMT: Earn 6 myCash on every ₹200 spent.
  • Domestic and International Spends Outside of MMT: Earn 2 myCash on every ₹200 spent.
  • Spends on Insurance: Earn 2 myCash on every ₹200 spent (capped at a maximum of 1,000 myCash per year).
• Exclusions for myCash Earning: No myCash is awarded for:
  • Rent Payments
  • Cash Advances
  • Fuel purchases
  • Gambling transactions
  • Any transactions carried out for commercial purposes
• Movies & Dining Benefits:
  • Enjoy Buy One Get One (BOGO) on movie ticket bookings twice each month.
  • This offer is available through BookMyShow or Inox.
  • One BOGO offer can be availed per month using the Mastercard variant, and another using the RuPay variant.
  • The maximum discount on the second ticket is ₹150, leading to potential monthly savings of ₹300 and yearly savings of ₹3,600.
• Travel Benefits:
  • High rewards are offered on travel spends made on MakeMyTrip.
  • Benefit from low foreign currency markup of 0.99% on international transactions, which is significantly lower than typical industry rates.
• Domestic Lounge Access:
  • Primary cardholders receive 2 complimentary domestic airport lounge access visits each quarter, totaling eight visits per year.
  • There is no spend-based criteria for domestic lounge access.
  • Add-on cardholders are not eligible for free airport lounge visits.
• International Lounge Access:
  • Primary cardholders receive one complimentary international airport lounge access visit per year.
  • There is no spend-based criteria for international lounge access.
  • Add-on cardholders are not eligible for free airport lounge visits.
• Golf: Not applicable.
• Insurance Benefits: Not applicable.

Rewards Redemption Guide

• Each myCash is valued at ₹1.
• myCash can be utilized for various bookings with MakeMyTrip, including hotels, flights, holidays, and other travel-related services.
• Cardholders also have the option to redeem their myCash to purchase partner vouchers via MMT.
• myCash rewards do not expire.
• There is no fee for redeeming rewards.

Card Review

• Pros:
  • The card is associated with the popular MakeMyTrip platform, making it a valuable option for users of the platform.
  • It offers a relatively affordable annual fee of ₹999 per year.
  • It serves as a strong option for individuals who do not possess a dedicated travel credit card but frequently book travel.
  • The low foreign exchange markup of 0.99% is a significant advantage for international travel.
• Cons:
  • The benefits and reward structure are heavily restricted to the MakeMyTrip ecosystem.
  • Individuals who do not book their travel through MakeMyTrip will find limited utility for this card.
  • International lounge access is quite limited, with only one free visit per year.
• Overall Verdict: This card is specifically tailored for individuals who regularly use MakeMyTrip for their travel bookings. It offers substantial rewards and benefits within the MMT ecosystem, making it a perfect fit for frequent travelers and vacationers who rely on the platform for flights, hotels, cabs, and buses. The card's low forex markup and complimentary lounge access add to its appeal for travel. However, its value diminishes significantly for those who prefer to book travel outside of MakeMyTrip. It's an excellent choice for dedicated MakeMyTrip users, especially since previous MakeMyTrip ICICI co-branded credit cards have been discontinued.

Important Product Details

• The card has a joining and annual charge of ₹999 plus GST.
• It is a travel-centric credit card.
• Approved applicants receive two cards: one operating on the RuPay network and another on the Mastercard network.
• The RuPay variant of the card can be linked to UPI for easy online payments, while also earning rewards in the form of myCash.
• The annual fee can be waived if cardholders spend ₹3 Lakh in a card anniversary year. If the fee is paid, a ₹1,000 MakeMyTrip voucher is provided.
• The card offers a competitive foreign currency markup of just 0.99%, providing savings on international transactions.
• Previous MakeMyTrip ICICI Bank Signature and Platinum Credit Cards have been canceled and are no longer available for application; the current MakeMyTrip ICICI Bank Credit Card is the only valid offering.

Other Details

• The card is best suited for travel-related expenses.
• Existing ICICI Bank credit cardholders are eligible to apply for this card.