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

myBiz ICICI Bank Business+ Credit Card

The myBiz ICICI Bank Business+ Credit Card is specifically designed to cater to the business and travel requirements of its users. Cardholders can earn rewards in the form of myBiz Cash, which is fully redeemable on the myBiz MakeMyTrip portal. While the card has a joining fee of ₹2,500 + GST, there are no renewal fees from the second year onwards, effectively making it a lifetime-free card as the joining fee is offset by a welcome bonus of ₹2,500 myBiz Cash. This card provides a comprehensive range of travel benefits, including a competitive reward rate on travel, complimentary airport lounge access, and exclusive discounts on travel bookings, making it an ideal choice for businesses with frequent travel needs.

Welcome Benefits

• Receive 2500 myBiz Cash, which is 100% usable.
• Get a flat discount of ₹750 on domestic or international flight bookings, applicable on 7 transactions each. A minimum booking value of ₹10,000 is required for this discount.
• Get a flat discount of ₹1,500 on hotel bookings, applicable on 7 transactions each. A minimum booking value of ₹7,000 is required for this discount.
• The discount voucher can be redeemed only once a month.
• Bookings using the discount voucher can be made anytime within one year of the membership period.

Fees

• Joining Fee: ₹2,500 + GST.
• Renewal Fee: Nil.
• Spend-Based Waiver: Not applicable.
• Rewards Redemption Fee: ₹99.
• Foreign Currency Markup: 3.5%.
• Interest Rates: 3.67% monthly (equivalent to 44% yearly).
• Fuel Surcharge: 1% surcharge waiver across all petrol pumps.
• Cash Advance Charges: 2.5% or a minimum of ₹300.

Rewards

• Rewards Rate
  • Earn 1.25 myBiz Cash for every ₹200 spent on domestic transactions.
  • Earn 1.5 myBiz Cash for every ₹200 spent on international transactions.
  • Earn 2 myBiz Cash for every ₹200 spent on flight bookings made through the myBiz app or website.
  • Earn 4 myBiz Cash for every ₹200 spent on hotel bookings made through the myBiz app or website.
  • 1 myBiz Cash is equivalent to ₹1.
• Milestone Benefits
  • Earn 1200 myBiz Cash by spending ₹2,50,000 within a year.
  • Earn an additional 5000 myBiz Cash by spending ₹7,50,000 within a year.
• Travel
  • Discounts and offers on bookings made with MMT myBiz.
• Domestic Lounge
  • Receive 2 complimentary domestic airport lounge visits per quarter at participating lounges in India.
• International Lounge
  • Enjoy 1 complimentary visit per year to an international airport lounge.
• Movie & Dining: Not applicable.
• Golf: Not applicable.
• Insurance Benefits: Not applicable.
• myBiz by MakeMyTrip Privileges
  • 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

• Rewards are earned as myBiz Cash.
• myBiz Cash can be redeemed exclusively at the MMT myBiz platform (myBiz app/website).
• 1 myBiz Cash is equivalent to ₹1 and is 100% usable for redemptions on the myBiz app/website.

Card Review

The myBiz ICICI Bank Business+ Credit Card stands out as one of the most affordable business credit cards, particularly well-suited for individuals and businesses prioritizing travel rewards. It is effectively a lifetime-free card as its one-time joining fee is immediately offset by the welcome bonus. The card offers high rewards on spends made with myBiz MakeMyTrip, making it an apt travel booking platform for businesses and corporates.

Pros

• Features only a one-time joining fee, with no renewal charges.
• Welcome benefits provide an equal value in myBiz Cash, effectively waiving the first year's fee.
• Offers complimentary domestic and international airport lounge access.
• Provides accelerated rewards for travel bookings made via MakeMyTrip myBiz.
• Includes a 1% fuel surcharge waiver.

Cons

• Benefits are primarily focused on travel bookings made with MMT myBiz, lacking significant perks in other categories.
• A rewards redemption fee of ₹99 applies.
• A foreign currency markup of 3.5% is charged.

Important Product Details

• This card is most suitable for business and travel spends.
• Cardholders receive both domestic and international lounge access.
• Enjoy accelerated rewards on spending with MakeMyTrip myBiz.
• The card has a one-time joining fee but no renewal fee, making it virtually lifetime-free given the welcome bonus.
• Offers significant discounts on flight and hotel bookings through welcome benefits.
• Provides milestone benefits for achieving spending targets.
• Includes benefits like no booking fees for hotels, no rescheduling fees on domestic flights, and complimentary meals on domestic flights (special fares) through myBiz privileges.
• A fee of ₹99 is applicable for rewards redemption.
• Foreign currency transactions incur a 3.5% markup.
• Interest rates are 3.67% per month (44% per annum).
• Cash advance charges are 2.5% or a minimum of ₹300.
• A 1% fuel surcharge waiver is provided across all petrol pumps.

Other Details

• The card offers an interest-free credit period of 48 days.
• For myBiz customer care, you can contact 1800 103 9695.
• The card is best suited for travel and business expenses.
• The reward type is "Reward Points" which are converted to myBiz Cash.