Top ICICI Bank Credit Cards in 2018ICICI Bank offers three broad categories of credit cards – travel, lifestyle and motorsport credit cards. Among them, ICICI Bank’s three ‘lifestyle’ cards – Coral, Rubyx and Sapphiro give you the most value-for-money. This is because the travel and motorsport are co-branded cards tied to a single partner and give you rewards primarily with that partner.

This opens you up to the risk of the partner getting less attractive over time or simply going out of business (as may be the case with Jet Airways). The three lifestyle credit cards – Coral, Rubyx and Sapphiro cater to three different income classes (income above Rs 5, 10 and 15 lakhs per annum respectively). However, each higher level of card does not offer more points per rupee spent, quite unlike Axis Bank whose cards we looked at here. Here is our analysis of the top ICICI Bank Credit Cards:

ICICI Bank Coral Credit Card

This card is offered to an individual with income above Rs 5 lakh per annum. It isn’t tied to any one rewards partner unlike its co-branded counterparts, also offered by ICICI Bank. For instance, the MakeMyTrip ICICI Bank Platinum Credit Card is tied to makemytrip.com and the ICICI Bank Jet Rubyx Card is tied to Jet Airways.

Instead, ICICI Bank Coral Credit Card is tied to PAYBACK, India’s largest multi-partner rewards programme. You earn 2 PAYBACK points for every Rs 100 spent on this card and 1 PAYBACK for every Rs 100 spent on insurance and utilities (like electricity bills or phone bills). PAYBACK points can either be used to buy products on the PAYBACK website or they can be converted to cash (1 PAYBACK point = Rs 0.25). Hence every Rs 100 spent on your credit card will get you a 0.5% cash-back (and you could get more if you directly buy products on the PAYBACK website). The cash is credited to your credit card account within 7 working days of redemption and can be set-off against future credit card bills.

In addition, you get:

  • One complimentary domestic airport lounge visit per quarter.
  • One complimentary domestic railway lounge visit per quarter.
  • Two complimentary movie tickets every month under the Buy One Get One free offer through www.bookmyshow.com.
  • 1% fuel surcharge waived off on fuel transactions on a maximum spend of ₹ 4,000 per transaction at all HPCL pumps.
  • Minimum 15% savings on dining bills with partner restaurants.

Fees and Charges

There is a Rs 500 joining fee and a Rs 500 annual fee. However the annual fee is waived off if you spend more than Rs 1.5 lakh per annum on the card. If you fail to pay the credit card bill on time, you are hit with an annual interest of 40.80%. If you miss the minimum payment due, there are also late payment fees up to Rs 750. The foreign currency transaction fee is a hefty 3.5%. You can find out more about this, here.

ICICI Bank Rubyx Credit Card

This card is offered to individuals with an income above Rs 10 lakh per annum. Like ICICI Bank Coral Credit Card, the ICICI Ruybx Credit Card is also tied to the multi-partner PAYBACK programme rather than single partner tie-ups. Every Rs 100 spent domestically on the card gets you 2 PAYBACK points and every Rs 100 spent internationally on the card gets you 4 PAYBACK points. Remember though that international spends cost a 3.5% mark-up, meaning that you lose a lot more than you gain by using this card outside India. The values are 3 and 6 PAYBACK points for domestic and international spends if you opt for the American Express version of the card (otherwise it is Mastercard). However note that American Express (popularly called AMEX) is accepted in fewer establishments than Mastercard. PAYBACK points can either be used to buy products on the PAYBACK website or they can be converted to cash. 1 PAYBACK point = Rs 0.25.

In addition, you get:

  • Welcome Vouchers on Shopping and Travel worth Rs 5,000 on payment of joining fee.
  • Up to 15,000 PAYBACK Points every anniversary year.
  • Up to 2 complimentary rounds of golf every month at the golf course of your choice based on eligible spends on the card.
  • Two complimentary domestic airport and railway lounge visits per quarter.
  • Minimum 15% savings on dining bills at partner restaurants.
  • Two complimentary movie tickets every month under the Buy One Get One free offer through www.bookmyshow.com.
  • i-Assist, the ICICI Bank concierge service which helps with restaurant, flight, hotel, movie tickets and other similar tasks.
  • 1% fuel surcharge waived off on fuel transactions at any fuel outlet.
  • Air accident insurance of ₹ 1 crore and a lost card liability of ₹ 50,000 that includes loss up to 2 days prior to reporting the same

Fees and Charges

There is a Rs 3,000 joining fee and a Rs 2,000 annual fee. However the annual fee is waived off if you spend more than Rs 3 lakh per annum on the card. If you fail to pay the credit card bill on time, you are hit with an annual interest of 40.80%. If you miss the minimum payment due, there are also late payment fees up to Rs 750. The foreign currency transaction fee is a hefty 3.5%. You can find out more about this, here.

ICICI Bank Sapphiro Credit Card

This card caters to customers with annual income above Rs 15 lakh. Every Rs 100 spent domestically on the card gets you 2 PAYBACK points and every Rs 100 spent internationally on the card gets you 4 PAYBACK points. Remember though that international spends suffer from a 3.5% mark-up, meaning that you lose a lot more than you gain by using this card outside India.

In addition, you get:

  • Welcome Vouchers on Shopping and Travel worth Rs 10,000 on payment of joining fee. The vouchers are from Shopper’s Stop, Croma, Yatra, Speciality Restaurants and Ola Cabs.
  • Up to 20,000 PAYBACK points every anniversary year.
  • Up to 4 complimentary rounds/ lessons of golf every month if the total retail spend on your card is equal to or more than Rs. 50,000 in the previous calendar month.
  • Four complimentary domestic airport lounge visits per quarter. Two complimentary international airport lounge visits per calendar year and two complimentary domestic airport spa visits per calendar year, under the Dreamfolks DragonPass Lounge Access Programme.
  • Four complimentary rounds of golf every month at the golf course of your choice based on eligible spends on your card.
  • Two complimentary movie tickets every month under the Buy One Get One free offer through www.bookmyshow.com.
  • Minimum 15% savings on dining bills.
  • i-Assist, the ICICI Bank concierge service which helps with restaurant, flight, hotel, movie tickets and other similar tasks.
  • 1% fuel surcharge waived off on fuel transactions at any fuel outlet.
  • Air accident insurance of ₹ 3 crore and a lost card liability insurance of ₹ 50,000. You also get insurance on lost baggage in airlines and for flight delays of more than 12 hours.  

Fees and Charges

There is a Rs 6,500 joining fee and a Rs 3,500 annual fee. However the annual fee is waived off if you spend more than Rs 6 lakh per annum on the card. If you fail to pay the credit card bill on time, you are hit with an annual interest of 40.80%. If you miss the minimum payment due, there are also late payment fees up to Rs 750. The foreign currency transaction fee is a hefty 3.5%. You can find out more about this, here.

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Staff Writer

This article is written by RupeeIQ editorial staff.