myBiz ICICI Bank Business+ Credit Card – Benefits, Fees & Eligibility

Introduction

The myBiz ICICI Bank Business+ Credit Card, issued by ICICI Bank, is an affordable business credit card specifically designed to cater to business and travel requirements. It is ideal for businesses that frequently book travel, offering a wide range of benefits across various platforms. Key differentiating benefits include a competitive reward rate on travel, complimentary airport lounge access, and discounts on travel bookings, with the added advantage of no renewal fees after the first year.

Welcome Benefits

• 2500 myBiz Cash, which is 100% usable.
• Flat discount of ₹750 on domestic/international flight bookings, applicable on 7 transactions each (minimum booking value must be ₹10,000).
• Flat discount of ₹1,500 on hotel bookings, applicable on 7 transactions each (minimum booking value must be ₹7,000).
• The discount voucher can be redeemed only once a month, and bookings can be made anytime within one year of the membership period.

Fees

• Joining Fee: ₹2,500 + GST
• Annual Fee: Nil (no renewal charges from the second year onwards)
• Spend-Based Waiver: Not applicable
• Rewards Redemption Fee: ₹99
• Foreign Currency Markup: 3.5%
• Interest Rates: 3.67% Monthly (44% Yearly)
• Fuel Surcharge Waiver: 1% surcharge waiver across all petrol pumps
• Cash Advance Charges: 2.5% or a minimum of ₹300

Rewards

• Reward Rate:
  • 1.25 myBiz Cash per ₹200 on domestic spends.
  • 1.5 myBiz Cash per ₹200 on international spends.
  • 2 myBiz Cash per ₹200 spent on flight bookings using the myBiz app/website.
  • 4 myBiz Cash per ₹200 spent on hotel bookings using the myBiz app/website.
  • 1 myBiz Cash is equivalent to ₹1.
• Milestone Benefits:
  • Earn 1200 myBiz Cash by spending ₹2,50,000 within a year.
  • Earn 5000 myBiz Cash by spending ₹7,50,000 within a year.
• Airport Lounge Access:
  • 2 complimentary domestic airport lounge visits per quarter at participating lounges in India.
  • 1 complimentary visit per year to an international airport lounge.
• myBiz by MakeMyTrip Privileges: These privileges are applicable only to bookings made through the myBiz app/website using the myBiz ICICI Bank Business+ Credit Card.
  • No booking fees for domestic and international hotels.
  • No rescheduling fee applies to domestic flights booked at special fares.
  • Complimentary meals are included with domestic flight bookings on special fares.
  • Discounted booking charges are available for one-way and round-trip flights.
  • Reduced charges are applicable for domestic flight cancellations.
  • Corporate travel policy management includes a mobile-based approval workflow.
  • Premium hotels are curated and offered at the best rates.
  • These benefits are available for selective service sectors and are subject to hotel and airline inventory availability.

Rewards Redemption Guide

• Earn rewards as myBiz Cash, which can be redeemed at the myBiz MakeMyTrip portal.
• 1 myBiz Cash is equivalent to ₹1 and is 100% usable on the myBiz app/website only.

Card Review

• Overall Verdict: The myBiz ICICI Bank Business+ Credit Card is one of the most affordable business credit cards, particularly suitable for those looking for travel rewards. It comes with a one-time joining charge of ₹2,500, with no renewal charges, making it practically lifetime-free after the first year. It offers high rewards on spends made with myBiz MMT, which is an apt travel booking platform for businesses and corporates.
• Pros:
  • Only a one-time joining fee, with no renewal charges.
  • High rewards on travel bookings made with myBiz MMT.
  • Provides both domestic and international lounge access.
• Cons:
  • Apart from travel bookings with MMT myBiz, this card doesn’t have any notable benefits.

Important Product Details

• Most suitable for business and travel spends.
• Cardholders are provided with both domestic and international lounge access.
• Earn accelerated rewards on spending with MakeMyTrip myBiz.
• The joining fee of ₹2,500 is effectively earned back as cardholders receive ₹2,500 as myBiz Cash.

Other Details

• Cardholders shall be eligible for an interest-free period of 48 days.
• myBiz is a corporate travel management platform that offers a customizable, real-time self-booking system, integrating into a company’s structure to provide convenience, transparency, savings, and the power of choice.
• For myBiz customer care, you can contact 1800 103 9695.