ICICI Bank launches Ferrari Credit Cards

By | March 15, 2016

ICICI Bank has tied up with Italian sports car maker Ferrari to launch co-branded credit card in India. The first kind of cards to be released in India by co-branding with super cars. From Ferrari perspective, its an awesome medium to pull the HNI customers of the country via the right medium to expose their brand. They might give some exciting offers for Ferrari buyers in future.

icici-bank-ferrari-credit-card

ICICI Bank Ferrari Signature Credit Card

The ‘ICICI Ferrari Credit Card’ comes in two variants on the Visa platform and offers customers a host of offers.

#1 ICICI Ferrari Signature Credit Card

Its the top-end Ferrari card, issued on Visa Signature platform which has its own privileges like bookmyshow and airport lounge offers. Here are the other major advantages of the Ferrari signature credit card.

  • Earn 2 PAYBACK points on every ₹100 spent for all retail purchases
  • An all-expense paid trip to an official Ferrari Challenge race and other events in Italy, for the top spenders, each year.
  • Discount on Ferrari Merchandise at Myntra and at the Online Ferrari Store
  • Complimentary Access to airport lounges in India as per VISA Signature Program.

Joining Privileges and Fees:

  • You pay a Joining Fee of ₹3,999 + Service Tax and get a complimentary Scuderia Ferrari watch.
  • You pay an Annual Fee of ₹999 + Service Tax from the second year onwards. The Annual Fee is waived off, if you spend more than ₹2,50,000 in the previous year.

#2 ICICI Ferrari Platinum Credit Card

Its the lower-end card issued on Visa platinum platform and has very few benefits compared to Signature variant.

  • 2 PAYBACK points on every ₹100 spent for all retail purchases
  • 2 Complimentary domestic Airport Lounge visits per quarter
  • 2 Complimentary movie tickets every month under the Buy 1, Get 1 offer from BookMyShow
  • Discount on Ferrari Merchandise at Myntra and at the Online Ferrari Store

Joining Privileges and Fees:

  • You pay a Joining Fee of ₹499 + Service Tax
  • You pay an Annual Fee of ₹499 + Service Tax from the second year onwards. The Annual Fee is waived off, if you spend more than ₹1,25,000 in the previous year

While that being said, i ringed up ICICI customer care to know more fine details on “top spenders” eligibility on signature variant and as usual, the customer care executive was clueless on what am talking about 😛 I’ll keep the article updated once i come to know more about it.

 

27 thoughts on “ICICI Bank launches Ferrari Credit Cards

  1. sudheendra

    Any idea which watch are they handing out as complimentary?

    Reply
    1. Siddharth Post author

      They’ve mentioned the model name. Might be some random colour in the inventory.

      Reply
      1. Rajkumar

        I have bought ICICI Platinum card and Ferrari card But I did not get any watch. so please

        Reply
  2. Amin

    ICICi has offered me this card.Lower end one.
    I am also having HDFC diners reqardz card.
    Shall I keep it as backup card?

    Pros and cons of this card.

    Reply
    1. Siddharth Post author

      Not bad as backup, but nothing exciting on the card. Top end variant has great benefits, but then again, they’re not transparent about it as well.
      So i gave up trying 😀

      Reply
  3. Nikhil

    I’m looking to apply for my first credit card. I’m particularly looking for cards that can give me free airport lounge access. My monthly income is Rs.70k approx and I intend to spend about 30k with the card I’m going to get. My spending includes mostly of dining, shopping, travel(road rail and air), fuel and departmental stores. Please suggest me the best card as per your knowledge and experience.

    Reply
    1. Siddharth Post author

      Nikhil,
      Go with HDFC Diners cards as it gives unlimited lounge access within India.

      Reply
  4. Shirish

    I got a call from customer care,
    they are saying 5% cashback on petrol,15%off on dmart,reliance,50%cash witdrawl no transaction charge,movie tikcet free.

    Is really we get this facility from ferrari platinum credit card?

    Reply
  5. Narasi

    I got ICICI Ferrari card. They told overdue interest charge is 15/16% pa. Is it correct?

    Reply
  6. Gaurav

    Hi Everybody,

    ICICI is offering a credit card but I am confused wether to for Ferrari or Coral Credit Card,
    At present I am using HDFC JetPrivilege Credit card.
    Any suggestions what card should I go for Ferrari or Coral?

    Thanks.

    Reply
    1. MANU KUMAR

      Exactly which one in Coral, you can go for HPCL Coral Amex if that is there,

      Else Ferrari Signature, I am getting that from ICICI for free.

      Reply
        1. MANU KUMAR

          Yes, this is what they said, let’s see whether they offer me the free gift. Anyways Leaving aside the Name there’s nothing premium about the card.

          Reply
  7. Gurjot

    ICICI is offering Ferrari platinum as an upgrade to coral card customers and not the signature card with 499 as one time joining fee otherwise free for lifetime(my coral card is also free). The only relevant point that is making me to think for an upgrade is extended credit limit that they said would definitely be increased.
    If i ignore this limit point, is it worth to switch over to Ferrari platinum from Icici coral card..
    Please guide me

    Reply
    1. Siddharth Post author

      It depends. Ferrari card is on MC i believe. So you may miss lounge access to some lounges in that case.

      Reply
      1. Gurjot

        What does MC stand for??
        And I’m not a frequent flyer. Any other major benefits that u can enlist if u go for the upgrade and any drawbacks of loosing coral card for a Ferrari platinum….
        Jus enlist For and Against the upgradation. 🙂

        Can u please tell which one is better among CITI bank card and Axis bank card(Credit cards​) taking account the frequent offers, points and if in case available at 0 annual fee
        Thanks 🙂

        Reply
        1. Siddharth Post author

          MC is Mastercard. Both are basic cards, so no big diff.

          Reply
  8. Siva

    Is it really worth considering to upgrade from coral to ferrari platinum card. As I am not a frequent flyer, I am not seeing any extra benefit. Please suggest.

    Reply
    1. Siddharth Post author

      No big difference unless you spend a lot.

      Reply
  9. pratyush kumar swain

    Hi, I have platinum ICICI credit card with limit 20,000. But they are not increasing my card limit. What should i do. I am using it for 1 year.

    Reply
  10. Prashant Gupta

    I am using icici platinum card for last 10 years and it is the only bank which has not increased my limit it is only 32k. The BM says its a shit bank he also uses citibank as his limit is also low.

    Reply
  11. Shivi

    Shift to HDFC/show increase in income/ but for that your credit bureau report needs to be clean as well i.e no late payments/no red marks/no defaults/no settlements.

    Reply
  12. Shashank

    Hi Siddharth,
    I do want to know that what exactly the Airport Lounge access free meaning?
    What will I be getting with that and how?

    Reply
    1. VISHAL VERMA

      swipe your credit card in eligible lounges….enter lounge and eat buffet (unlimited food), self service in 80% location free of cost. free alcohol, soda, water, tea, buffet (veg non veg food, starters, desert etc)

      Reply
  13. ABDUL RAHMAN MALIK

    hi i have just been given an offer of ICICI Ferrari platinum credit card .Currently i am using ICICI platinum credit card which has a limit of 30000 ,so can anyone please guide as to what my tentative limit will be and idea of the limit which i may get.

    Reply
  14. Vatsal Agarwal

    I’m looking to apply for my first credit card. I’m looking for cards that can give me free airport lounge access. My monthly income is Rs.60k approx and I intend to spend about 40k with the card I’m going to get. My spending includes mostly of dining, shopping (online mostly) and travel. Please suggest me the best card

    Reply

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