Santa Claus comes around just once a year. In the meantime, there are Credit Cards.
  • ICICI Bank Instant Platinum Credit Card

    The ICICI Bank Instant Platinum Credit Card can be availed by existing customers of ICICI Bank who has an active fixed deposit account with the bank. Such customers can avail the ICICI Bank Instant Platinum Credit Card instantly, over-the-counter. The option of applying online for this credit card is also available, if the customer has enabled net banking facility. Even though the ICICI Bank Instant Platinum Credit Card is offered quickly with minimal documentation and zero processing time, this card is at par with the other ICICI bank credit cards in terms of privileges and benefits such as discounts on various purchases, higher reward points, etc.

    Special Benefits of this card:

    • Enjoy more reward points on purchases, which can be accumulated and redeemed for cash.
    • When you purchase up to 2 movie tickets through the BookMyShow website, avail a discount of Rs. 100 per month
    • Get at least 15% off on all your dining spends at over 800 restaurants, as a part of ICICI Bank Culinary Treats program.
    • Enjoy an attractively low rate of interest on this credit card. The interest rate applicable on the card is just 2.49% per month.

    Features and Benefits of ICICI Bank Instant Platinum Credit Card

    The ICICI Bank Instant Platinum Credit Card comes loaded with some useful features and exciting benefits.

    Let us take a look at these features and benefits in detail:

    • Over-the-counter issuance of card: Applicants can walk into a branch and get the ICICI Bank Instant Platinum Credit Card over-the-counter in an instant. All the applicant needs is a fixed deposit account.
    • No joining or annual fee: Cardholders do not need to pay a joining or annual fee to procure this card. If they have a valid fixed deposit account, they can get this card without having to pay any fee.
    • Good payback rewards: For every Rs.100 spend on the card, cardholders can earn 2 payback reward points. They can redeem these reward points to bag attractive gifts from the bank’s catalogue.
    • Globally accepted: This card is accepted in more than 2 million outlets and has global emergency assistance.
    • Low rate of interest: Cardholders can earn interest on their fixed deposit and use the ICICI Bank Instant Platinum Credit Card to manage their liquidity. The applicable interest rate is just 2.49% per month. However, if the cardholder pays his outstanding balance on time, they will not have to pay any interest.
    • Contactless technology: This card is equipped with contactless technology that offers additional security against credit card fraud and duplication.
    • Good savings on dining: Cardholders can avail a discount worth 15% while dining at more than 800 leading restaurants across the country. This card features under the culinary delights program run by the ICICI Bank.
    • Fuel surcharge waiver: cardholders can avail fuel surcharge waiver worth 1% on transactions made on fuel worth a maximum of Rs.4,000 at all HPCL pumps. The cardholder will need to swipe the card on ICICI merchant services swiping machines.
    • Attractive VISA offers: Cardholders can avail amazing deals from VISA. They can unwind while enjoying lip-smacking cuisines through great deals from luxury hotels, restaurants, spas, lifestyle stores, among others.

    Eligibility Criteria:

    To get an ICICI Bank Instant Platinum Credit Card, all you need is:
    • An active Fixed Deposit in any branch of ICICI Bank.
    • Funds worth at least Rs. 20, 000 must be available in the Fixed Deposit account.
    • The fixed deposit must have been opened for a minimum tenure of at least 180 days.
    The Instant Platinum Credit Card cannot be issued to an applicant in the following situation:
    • If the Fixed Deposit exists in under the name of a third party or entity such as Society, HUF, Partnership firms, Trust or Company.
    • If the fixed deposit is against Quantum/ Linked/ NRE/NRO/ 80C/ HFC, etc. or if there is an existing lien marked on the Fixed Deposit.
    • This credit card will not be available to foreign nationals and minors.

    Fees and Charges of ICICI Bank Instant Platinum Credit Card

    ICICI Bank Instant Platinum Credit Card come with a set of fees and charges that the cardholder needs to pay in order to procure and maintain the card. Listed below is the list of the same:

    Fees and Charges Particulars (In Rs.)
    Joining fee Nil
    Annual fee Nil
    Finance charges 2.49% per month (29.88% per annum)
    Supplementary card fee Nil
    Cash advance fee 2.49% per month (29.88% per annum)
    Dial-a-draft-transaction fee 3% of the value of the draft subject to a minimum fee of Rs.300
    Cheque return fee 2% of the total amount due (or a minimum fee of Rs.450)
    Auto-debit return fee 2% of the total amount due (or a minimum fee of Rs.450)
    Fee on payment in cash at bank’s branch Rs.100 per payment
    Outstation cheque processing fee 1% of the cheque’s value, subject to a minimum of Rs.100
    Request for duplicate statement (More than 3 months) Rs.100
    Card replacement fee Rs.100
    Cash or cheque pick-up fee Rs.100 per pick-up
    Fuel surcharge 1% of the transaction value of Rs.10, which is higher
    Railway booking surcharge 1.80% of the transaction value for transactions done on the internet and 2.50% for the ones made over-the-counter
    Request for charge slip Rs.100 per slip
    Late payment fine Up to Rs.750
    GST The rate of GST for financial and banking services is 18% (applicable on all kinds of fees, surcharge, interest, and other charges)

    How to Apply for ICICI Bank Instant Platinum Credit Card

    Individuals can apply for this card in the following ways:

    • They can log on to www.icicibank.com and select this card from the list of credit cards on the website. Once, they select it, all that they will need to do is click on the “Apply” tab. Next, they will need to fill in details about themselves on the online application form. After duly filling up the form, they will need to submit it online. An executive will get in touch with them to take the procurement process further.
    • They can call the ICICI bank’s credit card customer care at 1800-200-3344 and ask the executive to process your application.
    • Alternatively, applicants can walk into the nearest branch of ICICI and submit an application form in person.
    • Eligibility Criteria of ICICI Bank Instant Platinum Credit Card.
    • To procure the ICICI Bank Instant Platinum Credit Card, applicants will need to fulfil certain eligibility criteria that are listed below:
    • Applicants should have a fixed deposit account with ICICI Bank.
    • The minimum tenure of fixed deposit has to be 6 months.
    • The minimum amount of fixed deposit is Rs.20,000.

    ICICI Bank Instant Platinum Card FAQs:

    1. What is a self-set limit?

      The credit cardholder can set a spending limit on his/her supplementary credit card or add-on credit cards, on a monthly basis. If any transaction is made over the specified 'Spend Limit', it would be declined.

    2. What is the revolving credit facility?

      ICICI Bank Instant Platinum Credit Cardholders have various options available for repaying the credit due on their card. The payment options available to them are:

      • Pay the entire outstanding amount which is due
      • Pay the minimum amount due only.
      • Pay an amount which falls within the minimum amount due and the total outstanding.

      The remaining amount due will be carried forward to the next billing period. This is known as the revolving credit facility.

    3. What is the auto-debit facility?

      Auto-debit is a feature that allows an ICICI Bank Instant Platinum Credit Cardholder who has an ICICI Bank account, to place standing instructions for the payment of their credit card bills directly through their bank account. This can be initiated by submitting a written instruction to ICICI Bank or by informing the ICICI Bank Customer Care Centre, to debit the amount every month to your account.

    4. What if there is a delay in payment of outstanding amount beyond the payment due date?

      If the borrower does not make a payment towards the credit due on his/her ICICI Bank Instant Platinum Credit Card, then a late payment fee will be levied on payments made afterwards. A penalty interest will be levied on the outstanding amount for the number of days during which the payment has been delayed.

    5. What should I do if my card is lost or damaged?

      If your card is lost, misplaced or stolen, you should immediately inform the ICICI Bank Customer Care Centre. The card will be blocked and a new card will be issued to the primary cardholder within seven days.

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