ICICI Bank Platinum Chip Credit Card
ICICI Platinum Chip Credit Card is one of the most versatile credit card that icici bank offers for customers. As per its name users will get maximum security while transferring amount. Special chip is installed in these credit cards that boost the security related measures and avoid any possible financial trapping or fraud. Apart from security features, users will get various PAYBACK and rewards points. Willing to own a credit card, but, have no idea which bank to consult with? Well, if this is the case with you as well, then give a pause to your worries and step right into ICICI bank. ICICI Bank is a well-known bank in private sector with total consolidated assets of Rs.9860.43 billion at March 2017 and profit (excluding tax) of Rs.98.01 billion for the financial year 2016-17. Being the most recommended private bank, ICICI Bank presently has a wide network of 4850 branches and 13000+ ATMs across India. As the bank is trusted most in the private sector, this bank has recently launched ICICI Bank Platinum Chip Credit Card for its account holders. This credit card is going to be an excellent choice for those who are willing to get a credit card to meet their financial differences to fulfill their desires of shopping, traveling, paying debts, entertainment, and so on. With this plastic card, the cardholder can meet their multiple needs at a time and can build or repair their good credit score. Your life is going to be damn easy as you don’t have worry even when you are running out of the budget.
Once you get in touch with the bank, you don’t have to look after the details of the card because ICICI bank broadcasts card details on its operations and offers on a regular basis. Bank’s dedicated customer relations personnel play an upbeat role in disseminating information to the customers and for responding to specific queries regarding the features, benefits, and offers of this Platinum chip credit card.
Take a short glance at key privileges of the card:
• Earn reward points and redeem them for cash
• Get Rs.100 off on booking at least two movie tickets via Bookmyshow application or website
• Get minimum 15% savings on dining at more than 800 restaurants and bars courtesy to ICICI’s culinary treats program
• With low-interest rate (for just 2.49% per month), you can earn interest on the fixed deposits (FD) and use the card to manage your routine to day liquidity.
Why ICICI Bank Platinum Chip Credit Card?
This card is going to be a great value choice as a no-frills and easy to manage with exciting benefits:
Protection of a chip card against the risk of fraud
Exclusive reward points powered by PAYBACK that can be redeemed for exciting gifts and vouchers
Fuel surcharge waiver
Get minimum 15% savings on dining at more than 800 restaurants and bars courtesy to ICICI’s culinary treats program
Rewards powered by PAYBACK – A cardholder will earn two reward points for every Rs.100 spent. Please note that this benefit is not applicable to fuel purchases. These reward points can be redeemed for attractive products through PAYBACK, which is India’s largest multi-partner coalition loyalty program.
Security of chip and pin card –This Platinum credit card comes with an embedded microchip that is designed for providing additional protection against counterfeiting and duplication of cards. These new chip cards have an additional coating in the form of a PIN, i.e. Personal Identification Number. A user needs to enter their PIN on the terminal for making transactions at merchant stores. However, to access the PIN for online transactions, the user has to register their card for 3D secure (verified by VISA/MasterCard SecureCode) on ICICI’s website.
3D secure registration and OTP generation:
The bank offers three different options for 3D secure registration and OTP generation so that a user can opt according to their ease and convenience.
Option 1: SMS
Type IOTP and send it to 5676766 from your registered mobile number
You will receive an SMS along with your IOTP on your registered mobile number
Option 2: Visit 3D secure webpage on the bank’s website
Visit 3D secure webpage
Enter your Credit Card number, validity details, and date of birth
Generate IOTP request
You will receive an SMS for your IOTP on your registered mobile number
Option 3: Real-time OTP generation
At the point of IVR transaction, enter the card details including card number, expiry date, and CVV code
You will receive an SMS for your IOTP on your registered mobile number
Annual fee savings – This is going to the smartest way to enjoy maximum benefits without even paying for it. All you need to ensure is that you spend minimum Rs.50000 per year with your credit card. If this happens, the annual fee for the subsequent year will be reversed to the credit account.
Fuel surcharge waiver – Get 1% fuel surcharge waived for fuel transactions of maximum Rs.4000 at HPCL petrol pumps while swiping the card on ICICI Merchant Services swipe machines.
Dining treats – Who doesn’t like to get yummy and mouth-watering treats? Isn’t this will be exciting to get equally impressive savings on the finest dining experience? With the ICICI’s Culinary Treat Program for Platinum credit card, get a minimum discount of 15% on the dining bills at more than 2500 restaurants and bars in 12 major cities of India.
VISA – With VISA card, wine, dine, and unwind with great offers from luxury restaurants, hotels, spas, and lifestyle stores. Further, with dedicated Global Emergency Assistance Service offered by VISA, you can report a loss of card, request an emergency cash advance, emergency card replacement, and/or other queries while traveling abroad.
This was about the exclusive features; now take a glance at some of the key benefits of owning this credit card:
Lifestyle – Are you a shopaholic and loves to follow the new and trending fashion? If yes, then this is for you. Let’s revamp the items in the wardrobe and parade the trending apparels and fashion accessories. You will be hosted with exciting online lifestyle offers to let you pick your favorite apparels, jewelry pieces, perfumes, and much more at great discount and reward points from leading lifestyle portals including First Cry, Shopclues, and Flaberry. Just use your credit card at leading lifestyle stores and grab the exciting offers and discounts.
Travel benefits – If you are not among those lazy buds and wishes to explore the country but, does that hiked flight ticket prices stop you from meeting your desires? If yes, then it’s time to aside the monetary barriers and meet your dreams to explore the cities. ICICI credit card provides great offers on domestic flights so that you can fly to your favorite vacation destination or simply make a surprise visit to your loved ones. Get your time and money valued with Platinum credit cards and grab the best deals on online flight ticket booking via travel websites such as Fkywidus, Thomas Cook, Big Breaks, Masafir.com, and many more.
Rewards and services
1. Hand-picked rewards – Indulge in exclusive card experience including lifestyle, dining, and travel with hand-picked rewards. The bank proposes special offers to redeem the well-earned reward points to complement the eclectic lifestyle. The key benefits of hand-picked rewards are:
Add more points to your card with every spend
There is no particular limitation to earn maximum of reward points
These reward points can be redeemed at any time as they have no expiry date
Redeem the points for a broad range of redemption options from fashion to travel and holidays, dining experiences to aromas, hi-tech gadgets to home entertainment, and a lot more.
2. PAYBACK – Make your shopping experience truly rewarding with India’s largest multi-brand loyalty programme: PAYBACK. Earn more and more PAYBACK points by using your ICICI credit card for every transaction. Being the India’s largest multi-brand loyalty programme, PAYBACK has a huge brand network including Brand Factory, Central, Big Bazaar, Ezone, Univercell, food bazaar, Home town, Futurebazaar.com, HPCL, MakeMyTrip.com and much more, so that you can earn and redeem the points faster on one account. Here are the top advantages of ICICI’s PAYBACK program:
One card and many brand partners = more rewards – use your credit card to shop across a huge brand network, earn more points, and get them redeemed for exciting offers.
Earn more PAYBACK points for every transaction done using this credit card.
In association with leading partners across online and retail categories.
Exclusive offers and bonus point promotions
Unending validity to redeem the reward points
3. ICICI Bank rewards – Enrich your credit card experience with ICICI’s specifically designed rewards programme. Earn reward points on every transaction made with credit card including grocery, dining, online shopping, jewelry shopping, travel ticket bookings, and fashion accessories. Host yourself with bank rewards advantage:
Add points to your card with every transaction
Unlimited chance to earn bank rewards
Unlimited validity to redeem the points
Redeem points from an exclusive range of gift vouchers and coupons
Safe and secured – ICICI Bank Platinum Chip Credit Card is verified by VISA service. The cards are protected with a Chip and a Pin, secured for both offline and online transactions. All you need to do is register the card and apply for a 3D secure PIN. This 3D Secure PIN will protect the card against the risk of frauds during online transactions. This PIN also protects the card from unauthorized usage.
High withdrawal limit – The bank offers high withdrawal limit for their trusted credit cards. For domestic transactions, daily cash withdrawal limit at ATM and daily purchase limit at retail outlets and online merchants is Rs. 100000 and Rs. 200000 respectively. On the other hand, the International withdrawal limit for daily cash withdrawal limit at ATM and daily purchase limit at retail outlets and online merchants is Rs. 100000 and Rs. 150000 respectively.
Online transactions – Use your plastic money for shopping, booking travel and movie tickets, fund transfer, and paying your outstanding bills.
Insurance – Get personal accident insurance worth Rs.10 lakh, air accident insurance worth Rs. 20 lakh, and purchase protection worth Rs. 2.5 lakh.
Itemized billing – With this unique benefit, track all your spends on a routine basis. The card statement will include the details of purchase along with the purchase date, merchant name, and amount transacted.
Fee and charges structure:
One time joining fee worth Rs. 199 (goods and services tax as applicable)
Rs.99 chargeable as annual fee from second year onwards (goods and services tax as applicable)
Supplementary card fee – NIL
Overdue interest on extended credit and cash advances will be charged as 3.40% per month, that is, 40.80% annually
This card can be availed only for candidates above 23 years old
Who is eligible to apply for this credit card?
There are certain conditions to apply and get the approval of this plastic money. An applicant must have a valid Fixed Deposit in ICICI Bank. Further, there are also some specific criteria for having fixed deposit:
o Minimum Fixed Deposit amount of Rs.20000
o Minimum Fixed deposit tenure has to be for 180 days
Platinum Credit card cannot be issued, in case:
o If the FD is in the name of any Third party, HUF, Society, Partnership Firms, Trust, or Companies
o Against Linked/80C/Quantum/NRE/NRO/HFC fixed deposits
o If a lien is already marked on the FD
o A candidate should not have foreign citizenship
Documents required for the approval of credit card:
One copy of PAN card or Form 60
Passport size colored photographs
Current Payslip, Form 16, or a copy of Income Tax return for income proof
A copy of Ration card, passport, electricity bill, or telephone bill for residence proof
A copy of Driving license, Passport, Voter ID, or Adhaar card for identity proof
Additional benefits of ICICI Credit cards:
Internet banking – Internet banking is no more a new thing for the users because it guarantees comfort and convenience to the users. Users can conveniently transact from their home or office without the need of standing in long queues. Internet banking is a secure, simple, and convenient banking service to deliver unmatched banking experience to the users.
Mobile banking – Discover quick, easy, and handy way with ICICI’s mobile banking service and take a control of your bank account details right at your mobile phone. Mobile banking is an umbrella service for unmatched advantages including:
Safe and secured transactions
Handy method to access credit account details
Pay your electricity, telephone, and other utility bills at ease
Improved banking experience with exciting offers and discounts
Anywhere and anytime access to ICICI credit account
Still in doubt? Go through the comparison chart between ICICI Bank Platinum Chip Credit Card, ICICI Coral Credit card, and ICICI Sapphire Credit Card, and make sure why a Platinum card is best for you. Other cards have high annual and joining fee as compared to the platinum card, which makes the card a worth buy for you.
Platinum Chip Credit Card
Coral Credit Card
Sapphire Credit Card
* Security of a chip card
* Rewards by PAYBACK
* Fuel Surcharge waiver of 2.5%
* Minimum 15% off on billing amount at leading restaurants
* Exclusive privileges from VISA/MasterCard
* Extra rewards every day
* BOGO movie ticket offers on first come first serve basis
* Minimum 15% off on billing amount at leading restaurants
* Complementary visit at domestic airport and railway
lounge per quarter
* The next level of credit card privilege
* Complimentary rounds of golf at domestic and
international golf courses
* Benefits from American Express and MasterCard
* Complementary lounge access at airports
* Complementary welcome vouchers worth Rs.10000 after
paying the joining fee
* Exclusive event and movie premiers
Rs.199 + service tax. No joining fee applicable for online
Rs.500 + GST
Rs.6500 + GST
* NIL annual fee after minimum spend of Rs.50000 in
previous year, otherwise Rs.99 + Service tax is chargeable
* No joining fee for initial year if transactions done over
Rs.2000 in just 60 days
* Special offer for selected corporate employees
Rs.500 + GST (No annual fee will be chargeable if the
transaction done are for more than Rs.150000 in previous
Rs.3500 + GST (NIL for cardholders who spends more than
Rs.600000 in previous year)
Benefits of ICICI Bank Platinum Chip Credit Card
1. Cardholder will get discount of 15% or more while paying bills at associated restaurants.
2. Modern technology based integrated chip card.
3. Users will get discount in fuel surcharge.
4. Exciting PAYBACK deals and offers along with voucher code.
Documentation and Eligibility for ICICI Bank Platinum Chip Credit Card
1. Applicant must be 23+ years old.
2. Applicant must be Indian by birth.
3. Applicant income must be more than 3 lakhs, as per bank income eligibility policy.
4. Valid document to prove identity and address of applicants and to complete the KYC process.
5. Bank statement to verify your income.
6. Your recent passport size photograph.
Fees and Charges of ICICI Bank Platinum Chip Credit Card
1. First time fees: Rs.199 + Service Tax
2. Annual Subscription fees : Rs. 199 + Service Tax
3. Overdue Interest : 3.40% per month
4. Cash Advance Fees: Up to 2.50%.
5. Card Replacement Fees : Rs. 100
6. Cheque Return Fees: 2% of amount.
7. Add-on card Fees: Nil
8. Over limit fees: 2.50% of the amount.