ICICI Bank Credit Card: Changes in reward points, transaction fees, lounge access conditions; check details

Starting November 15, ICICI Bank will make changes to certain terms and conditions of its credit cards, which will impact reward points, transaction fees and benefits across various card categories. The changes include increasing spending requirements for airport lounge access, limiting rewards for utilities, insurance and grocery purchases, and introducing additional fees for additional cardholders.

Changes to fuel surcharge waiver policy

ICICI Bank has made changes to the fuel surcharge waiver scheme for credit card users. The bank is now offering fuel surcharge waiver on transactions up to Rs 50,000 per month to all credit card holders. However, for Emeralde Mastercard exclusive metal credit card holders, the waiver limit has been increased to transactions worth Rs 1 lakh every month.

Airport lounge access

Cardholders now have to spend approximately Rs 75,000 in the previous calendar quarter to qualify for free airport lounge access, a significant increase from the previous requirement of around Rs 35,000.

The revised spending requirements for free lounge access at domestic airports will be applicable to various ICICI Bank credit cards including ICICI Bank HPCL Super Saver Visa Credit Card, ICICI Bank MasterCard Coral Credit Card, ICICI Bank Rubyx Visa Credit Card, ICICI Bank Sapphiro Credit Card Visa Credit. Card, ICICI Bank Adani One Signature Credit Card, MakeMyTrip ICICI Bank Platinum Credit Card and many more.

Utility and insurance payments

Reward points will continue to be awarded on utility expenses up to approximately Rs 80,000 and insurance premiums up to approximately Rs 80,000 at current rates.

Additionally, bonus points can still be earned on utility expenses up to approximately Rs 40,000 and insurance premiums up to approximately Rs 40,000 at the existing rate.

Shopping at grocery and department stores

Rewards points earned on grocery and department store purchases will be limited. Premium credit card holders (ICICI Bank Rubyx Visa, Sapphiro Visa, Emeralde Visa and others) can earn rewards on monthly grocery spend of up to Rs 40,000. For all other cards, the monthly spending limit is Rs 20,000.

Annual fee

The annual fee waiver and phased-in benefits will no longer apply to rent payments, government fees and education payments made using credit cards. This change will affect all credit cards offered by our bank.

Additionally, the spending threshold for annual fee waiver on ICICI Emeralde and Emeralde Private Metal credit cards has been reduced from Rs 15 lakh to Rs 10 lakh per annum.

Spa services at airports

Please note that airport spa access, which was previously available with the DreamFolks Card, has been discontinued. This service was offered on select cards including ICICI Bank Sapphiro Visa Credit Card, ICICI Bank Emeralde Credit Card, ICICI Bank Adani One Signature Credit Card, Emirates ICICI Bank Emeralde Credit Card and others.

Fees for additional cardholders

Additional cardholders will be charged an annual fee of approximately $199 starting on the card’s anniversary month.

Credit Card Transaction Fee

If you use your ICICI credit card to pay for school or college fees through third party payment apps like CRED, Paytm, Check or MobiKwik, a transaction fee of 1% will be charged. To avoid this fee, consider making payments directly through the school/college website or POS terminal.

Payment of commission

A fee of 1% will be applicable on education and utility transactions made through third party payment apps when using ICICI Bank credit cards. This fee is applicable on payments towards education expenses through platforms like CRED, Paytm, Cheq, MobiKwik and others. However, no fees will be charged if educational transactions are made directly through the websites of colleges or schools or their POS terminals using ICICI Bank credit cards.

Additionally, ICICI Bank charges an additional fee of 1% on utility bills exceeding Rs 50,000 per month when using their credit cards.