Times Black ICICI Bank Credit Card – Benefits, Fees & Eligibility

Introduction

The Times Black ICICI Bank Credit Card is ICICI Bank's most luxurious offering, designed exclusively for Ultra-High Net Worth Individuals (UHNIs) who appreciate unparalleled privileges and curated experiences. This metal credit card, a collaboration between ICICI Bank, Times Internet Limited, and Visa, provides a world where convenience meets sophistication. It aims to offer premium benefits across various categories, including luxury stays, global travel, exclusive lifestyle perks, fine dining, and high-end shopping, making it ideal for those with substantial spending habits and a desire for top-tier advantages.

Welcome Benefits

• Luxury Stay Gift Card: Receive a Luxury Stay Gift Card worth ₹10,000 from EaseMyTrip or ₹12,000 from Lohono.
• Travel Visa Benefits: Enjoy travel visa benefits worth ₹10,000 with Atlys and OneVasco, which may include doorstep Visa services, complimentary lounge vouchers, and a waiver on processing charges.
• Exclusive Quorum Club Privileges:
  • Access to exclusive events and networking opportunities at The Quorum Club without needing a separate membership.
  • 20% dining discount at select premium restaurants under The Quorum Club, including Café Reed (Mumbai), Zila (Hyderabad), and 689 (Gurugram).
• Lifestyle Gift Cards:
  • Toni & Guy voucher worth ₹3,000.
  • Interflora Gift Card worth ₹1,000.
• Zomato Gold Membership: Complimentary annual membership for exclusive dining privileges and free delivery.
• Welcome benefits will be activated within 45 business days after the payment of the Joining Fee.

Fees

• Joining Fee: ₹20,000 + GST.
• Annual Fee: ₹20,000 + GST.
  • The annual fee can be waived off from the second year onwards on spends over ₹25 lakh in the previous year.
• Forex Markup: 1.49% on international transactions.
• ATM Withdrawal: Nil (No cash withdrawal charges).
• Interest Rates: 3.75% per month if only the minimum due is paid.
• Late Bill Payment: Ranging from ₹100 to ₹1300.
• Fuel Surcharge Waiver: 1% waiver on fuel transactions at all fuel stations, up to ₹1,000 per statement cycle.

Rewards

• Reward Rate:
  • 2.5% Reward Points on International Spends.
  • 2% Reward Points on Domestic Spends.
• Reward Point Exclusions and Cap:
  • A monthly cap of 5,000 Reward Points applies to spends in categories such as utility payments, insurance premium payments, education payments, and government payments (e.g., property tax, advance tax, fees, court payments, postal payments).
  • No Reward Points are earned on fuel transactions, rent payments, or transactions converted into EMIs. Points earned on such transactions will be reversed.
• iShop Rewards Portal: Earn accelerated Reward Points for travel bookings (stays, flights, and bus) and purchases of brand vouchers. A maximum of 15,000 Bonus Reward Points can be earned on the iShop portal.

Milestone Benefits

• On spends of ₹2 Lakh: ₹10,000 Klook Voucher for unique international experiences and activities.
• On spends of ₹5 Lakh: Luxury Airport Transfer by Luxury Sedan or Helicopter.
• On spends of ₹10 Lakh: ₹10,000 Tata CLiQ Luxury Gift Card for high-end fashion.
• On spends of ₹20 Lakh: One night luxury stay from Ayatana or Lohono worth ₹20,000.
• Milestone Benefits can be accessed through the Times Black app for a period of six months from the date of notification by ICICI Bank.

Movies, Dining & Entertainment

• Zomato Gold Membership: Complimentary annual membership providing free delivery and exclusive dining privileges.
• Culinary Treats Programme: Get dining discounts with the Culinary Treats Programme.
• The Quorum Club Dining: Enjoy 20% dining discount at select premium restaurants.

Travel

• Unlimited Domestic Lounge Access: Unlimited complimentary lounge access at domestic airports.
• Unlimited International Lounge Access: Unlimited complimentary lounge access at international airports with a complimentary Priority Pass Membership for both primary and Plus cardholders. This provides access to over 1,400 lounges in more than 145 countries worldwide.
• Low Forex Markup: A competitive 1.49% Forex markup fee on international purchases.
• Luxury Airport Transfers:
  • One annual luxury airport transfer by helicopter (available only at Bangalore Airport) or two cab transfers.
  • This benefit is unlocked on a minimum expenditure of ₹5 lakh in a year.
• Travel Visa Benefits: Travel visa benefits with Atlys and OneVasco worth ₹10,000.
• Avis Rental Car Discounts:
  • 25% discount on chauffeur-driven cars.
  • 35% discount on premium rental cars.

Insurance

• Comprehensive Insurance Cover:
  • Personal Accident (Death Only): ₹3,00,00,000
  • Purchase Protection: ₹1,40,000
  • Credit Shield: ₹1,00,000
  • Loss of Checked in Baggage: ₹84,000
  • Plane Hijacking: ₹1,00,000
  • Card Liability Cover: ₹50,000
  • Medical Expenses for Bodily Injury Caused by and Arising Out of Rail/Road Accident: ₹50,000
  • Loss of Passport: ₹35,000
  • Baggage Insurance: ₹25,000
  • Delay of Checked in Baggage: ₹21,000
  • Missing of Connecting International Flight During Transit: ₹21,000
  • Delay in Flight: ₹17,500
• Flight & Hotel Cancellation Refund: No cancellation charges on domestic flight & hotel bookings, up to ₹12,000.

Lifestyle

• Elite Club Membership: Special offers on membership and access to events at The Quorum Club.
• Curated Luxury Services: Lifestyle management services from CribLife with 6 exclusive offerings.
• Lifestyle Gift Cards: Gift Cards from Toni&Guy worth ₹3,000 and Interflora worth ₹1,000.
• Tata CLiQ Luxury Gift Card: A Tata CLiQ Luxury Gift Card worth ₹10,000 on spends of ₹10 lakh.
• WeWork Day Passes/Airport Transfers: WeWork day passes (India) or airport transfers from Thumby Aviation, Avis, or Indian Travel House on spends of ₹5 lakh.
• Klook International Experiences: Discover Klook's unique international experiences and activities worth ₹10,000 on spends of ₹2 lakh.
• Concierge Services: 24x7 concierge assistance by calling the toll-free number 18002670731 for itineraries and bookings, available both domestically and internationally.

Rewards Redemption Guide

• Redemption Value:
  • Redeeming Reward Points for products and vouchers can offer a value of up to ₹1 per point.
  • Redeeming Reward Points against your statement (cash redemption) has a value of 1 Reward Point = ₹0.40.
• Redemption Categories: Reward points can be redeemed for various categories including Health & Beauty, Travel & Luggage, Shopping Vouchers, Home Appliances, Electronics, and Fashion & Lifestyle.
• Reward points can also be redeemed for air miles.

Card Eligibility Criteria

• Citizenship and Age: An Indian citizen over 21 years of age.
• Income (Salaried): A salaried individual with a monthly income of ₹2,00,000.
• Income (Self-Employed): A self-employed individual with an annual income of ₹24,00,000.
• Documents Required:
  • Identity Proof
  • Address Proof
  • Income Proof
• Digital Application: No physical documents may be required if applying through digital channels like Video KYC verification, which requires PAN Card and Aadhaar Card details.

Card Review

The Times Black ICICI Bank Credit Card stands as ICICI Bank’s pinnacle of luxury offerings, designed to cater to the ultra-high-net-worth segment. This metal credit card, a joint venture with Times Internet Limited and Visa, provides an extensive suite of premium benefits, although it has met with mixed expectations among credit card enthusiasts given its substantial annual fee of ₹20,000.

Who Should Apply: This card is perfectly suited for individuals with high spending power, frequent domestic and international travel needs, and a strong appreciation for exclusive fine dining, events, and luxury shopping experiences. To maximize its advantages, cardholders should be in the top tier of income and expenditure.

Pros:

• Luxurious and Premium Benefits: The card offers an array of high-end perks, including unique features like helicopter city transfers (though location-specific), access to exclusive Times Group events, and discounts at prestigious venues like The Quorum Club.
• High Reward Rates: Competitive reward rates of 2.5% on international spends and 2% on domestic spends are offered.
• Extensive Lounge Access: Unlimited complimentary access to both domestic and international airport lounges (via Priority Pass for international) enhances the travel experience significantly.
• Comprehensive Insurance: Provides a robust insurance cover, including a high personal accident sum, purchase protection, and travel-related insurance benefits.
• Valuable Welcome & Milestone Benefits: The card includes a substantial package of welcome vouchers and milestone benefits, offering significant value back on achieving spending targets.

Cons:

• Forex Markup Fee: Despite its premium positioning and high annual charges, the card imposes a 1.49% Forex markup fee. This is considered a drawback as several lower-fee credit cards now offer zero or lower forex charges.
• High Annual Fee Waiver Threshold: The annual fee waiver requires a high spend of ₹25 lakh per annum, which is considerably higher than other premium credit cards in the market.
• Location-Specific Benefits: Some highly unique benefits, like helicopter airport transfers, are limited to specific locations (e.g., Bangalore Airport), potentially limiting their utility for all cardholders.
• Reward Point Caps and Exclusions: There are caps on reward points for certain domestic categories (utilities, insurance, education, government payments) and no rewards for fuel and rent transactions.

Overall Value: While some features might not entirely meet the lofty expectations set by its high fees, the Times Black ICICI Bank Credit Card remains a formidable offering for those with a high net worth. Its stylish design and exclusive luxury benefits, particularly the airport transfers by helicopter, are truly amazing. For individuals with considerable spending capacity, this card provides a redemption for ICICI Bank in the premium segment, allowing them to indulge in a truly luxurious lifestyle.

Important Product Details

• The Times Black ICICI Bank Credit Card is a premium metal card issued by ICICI Bank in association with Times Internet Ltd. and Visa.
• It is specifically designed for Ultra-High Net Worth Individuals (UHNIs).
• The card features a Joining Fee and Annual Fee of ₹20,000 + GST.
• Annual fee waiver is available on spending ₹25 lakh in the previous year.
• Earn 2.5% Reward Points on international spends and 2% on domestic spends.
• Reward points on utility, insurance, education, and government payments are capped at 5,000 points per statement cycle.
• No reward points are earned on fuel or rent transactions.
• A Foreign Currency Markup of 1.49% applies to international transactions.
• Cardholders enjoy unlimited complimentary access to both domestic and international airport lounges (International access via Priority Pass for primary and Plus cardholders).
• Unique luxury airport transfers are available, including helicopter service at Bangalore Airport or luxury sedans, on spends of ₹5 lakh.
• The card offers a comprehensive insurance cover, including Air Accident Insurance and a refund of up to ₹12,000 on domestic flight & hotel cancellations.
• Welcome benefits include luxury stay gift cards, travel visa benefits, lifestyle gift cards, and Zomato Gold membership.
• Milestone benefits provide vouchers for Klook, Tata CLiQ Luxury, and Ayatana stays based on annual spending.
• Access special offers and dining discounts at The Quorum Club.
• 24x7 concierge services are available for assistance with travel, dining, and other lifestyle needs.
• It offers lifestyle management services from CribLife with 6 exclusive offerings.
• Cash withdrawals from ATMs incur no charges.

Other Details

• Milestone Benefit Access: Milestone Benefits can be accessed through the Times Black app for a period of six months from the date of notification by ICICI Bank.
• International Lounge List: For a complete list of international airport lounges, visit the Priority Pass website.
• Priority Pass: Cardholders should remember to carry their physical Priority Pass card to avail international lounge access.
• Reward Point Earnings on iShop: A complete guide for Reward Point Earnings on the iShop portal is available for reference.
• Eligibility for existing ICICI Bank Credit Cardholders: Individuals who already possess an ICICI Bank Credit Card are eligible to apply for the Times Black ICICI Bank Credit Card.
• Video KYC Verification: Video KYC verification requires providing PAN Card and Aadhaar Card details, followed by a video call with an ICICI Bank employee. Video KYC is available 24x7.
• Credit Card PIN Generation: The Credit Card PIN can be generated via:
  • iMobile app: Services > Card PIN Services > Generate Credit Card PIN.
  • Internet Banking: Log in > Generate Card PIN > Credit Card PIN > Select Card and enter CVV > Submit > Enter OTP > Enter PIN > Generate Now.
  • Interactive Voice Response (IVR) system: Call Customer Care on 1800 1080.