ICICI Bank Platinum Chip Credit Card Review

By | April 10, 2016

ICICI bank credit cards are known for its huge promotion activities and its Payback reward system, which actually gives least rewards compared to most HDFC cards. This card was one of the first few cards i had in late 2011. I had been using it for close to 3 years and got lots of Payback reward points with which i redeemed and filled my house with lots of Payback products around.

ICICI Bank Platinum Chip Credit Card

ICICI Bank Platinum Chip Credit Card

ICICI Bank Platinum Credit Card Rewards:

  • 2 Payback points on every Rs.100 spent anywhere. Nothing Else!

That gives you Reward rate of mere 0.5% (1 Payback point = Rs.0.25). Even the lowest variant of HDFC Moneyback credit card gives you 1.5% (if spent online). While i was busy with business, i never realized that i was using the card that gives the least rewards. I happen to explore the reward system an year or so back and ended up closing the card.

However, i’ve recently signed up for this card as i was offered a very good credit line and lifetime free as my relationship with ICICI is pretty good. It comes handy if i exhaust credit limit on other cards or if there is some emergency for high value transaction. If you know it, even the ICICI coral “debit” card gives you reward rate of 0.75% which is higher than most icici “credit” cards. Bad!

As of now i’m waiting for a right time to upgrade the card to some other variant, probably Jet Airways ICICI Sapphiro Credit Card or ICICI Ferrari Credit Cards shortly.

ICICI Platinum Credit Card Features:

  • Card Expert Rating: 2.5/5
  • Reward Rate: 0.50% as Payback Points
  • Fuel Surcharge Waiver: 2.5% fuel surcharge waiver can be availed on fuel transactions of maximum ₹ 4,000 at HPCL pumps when the Card is swiped on ICICI Merchant Services swipe machines.
  • Renewal Fee Waiver: Spend ₹ 50,000 or more annually, for renewal fees to be waived off.
  • Complementary Airport lounge access: No.
  • Foreign Exchange Markup fee: 3.5% + Service Tax

If you’re starting off with credit cards as a beginner and looking for a card with low or nill annual fees, this is the card for you. I would suggest you to go for this card only if you are unable to get HDFC Moneyback card. That’s far better than this card in every aspect.

However one unique thing that i love with ICICI is that it lifts the limit as soon as you make the payment, in matter of minutes. Also, it allows you to spend over the limit if you pre-pay to the card in advance which is very helpful if you have low credit limit but want to spend above the limit. I’ve been using this feature quite a lot in the past.

Got something to say about this card?

29 thoughts on “ICICI Bank Platinum Chip Credit Card Review

  1. mv srinivas

    siddarth dear,already am using hdfc money back credit card.now thinking to use another bank credit card.
    which is better?axis or icici?
    n which type i have to prefer among them.pls do reply
    thanks in advance

    Reply
    1. Siddharth Post author

      SBI is good.. Which card u need is highly dependent on which card you’re eligible for and what kind of value you look for in it 🙂

      Reply
  2. Abhishek Sharma

    Hello sir
    I’m going to take credit card in upcoming week so could you please tell me which credit card bank suitable for me
    My main use will be shopping online, booking hotels and railway online as well as to pay my postpaid bills online
    Please suggest me because I’m totally confused between companies promotion war

    Reply
    1. Siddharth Post author

      HDFC cards are good to start with.
      Check HDFC Diners cards that gives 10X rewards for shopping and travel. It will be highly useful to you.

      Reply
  3. sneha bhattacharya

    Hi…i hve jst started with icici platinum credit card and my first bill is yet to come….i wanted to confirm the charges of it and particularly knw wat late payment charges are? Always they said the interest is calculated on total amount and nt the outstanding…nt good.

    Reply
    1. Siddharth Post author

      Sneha,
      To make the most out of credit card, you got to pay the full bill else the charges are insane with interest rates as high as 3% per month.
      If its getting tough, convert to EMI which usually has better interest rates.

      Reply
  4. saieswar g

    IM HAVING ICICI PLATINUM CARD,I M PLANNING BUY MOBILE THROUGH THROUGH EMI ,IF I CHOOSE 12M EMI ,IF CLOSE FOR 4M EMI,IS THERE NAY CHARGES ,AND MY CARD LIMIT IS 50000 IF I NEED TO DO 60000 LIMIT PURCHASE, MEANS CAN I PAY 10000 ADVANCE PAYMENT AND CAN I DO ON LINE TRANSACTION OF 60K ,PLEASE HELP IN THAT

    Reply
  5. Vivek Agrawal

    Your review says that no lounge access. Also no info regarding the Same on their site. However it’s a Mastercard, so shouldn’t it have lounge access under Mastercard lounge program?

    Reply
    1. Siddharth Post author

      MC gives lounge access only on semi-premium & premium cards.
      Basic cards like this and the ones with SBI debit cards donot have access.

      Reply
  6. Vivek Agrawal

    What’s the procedure to change hdfc easyshop platinum visa to Mastercard variant. I got visa variant by default when they opened my salary account

    Reply
    1. Siddharth Post author

      Hotlist the card and request for a new one via branch mentioning the “mastercard” variant

      Reply
  7. Vivek Agrawal

    I hotlisted the card coz of suspicious fraudulent usage and called up phone banking. Then they transferred my call to replacement department and the guy on the other side told that my replacement will reach me in a few days. Then I asked him to send Mastercard variant, but he told that he can’t do that

    Reply
    1. Siddharth Post author

      As i mentioned earlier, you’ve to visit branch for that. Phone banking guys don’t have that access somehow.

      Reply
  8. Vivek Agrawal

    Ok. So one more doubt. As I already have hotlisted and requested for replacement once,will another hotlist and replacement request withing such short span of time(virtually one week) affect my cibil score?

    Reply
    1. Siddharth Post author

      It wont affect CIBIL, but they might charge you for replacement.
      Wait for sometime to see what you’re actually getting, so you can decide based on that.

      Reply
      1. Vivek Agrawal

        Mostly I won’t be charged. Coz I hold a salary account with them and it was told. To me that card replacement is lifetime free. I want Mastercard variant coz of lounge access. I already have diners rewardz but I want 1.more card for lounge access as it wil benifit someone travelling with me who doesn’t have a card. Another thing is that nowadays ICICI is offering this platinum chip card for lifetime free. It’s mentioned on their site.

        Reply
  9. Vivek Agrawal

    This card is extremely easy to get approved also. I applied and it got approved withing 4 days. Infact the physical verification was not done at all! Ya this will give me peanuts as rewards compared to my diners rewardz card, but the primary reason I wanted this card is because they gave me only 75k limit on diners(despite inhand salary being 60k per month and having hdfc itself as my salary account). Another reason for getting this is bigbasket offer on Tuesday as and also I’ll link it to Uber for every 4th ride free(almost all trips are less than 150 and hence diners 10x doesn’t help)

    Reply
  10. Vishal B

    Which card is better between ICICI Platinum Chip card and HDFC Money Back Card in 2017. As i need one for online purchase.

    Reply
    1. Siddharth Post author

      HDFC Moneyback card, it has accelerated rewards on online spends.

      Reply
  11. Ganesh Nair

    Can some one suggest me a good credit card. I currently hold a money back from HDFC and not eligible for regalia
    I want decent offers and discounts on card. Moderate AMC will not be a problem

    Reply
  12. abhishek k gaurha

    hello sid

    i m having dis card from past 1 month of mc variant.
    how we can check that its a perimium card or normal card.

    Reply
  13. Dhrubojyoti

    Will ICICI Platinum Chip Credit Card support EMI on Amazon or Ebay?

    Q2. Whats the Cash Withdrawal limit of this card?

    Reply
  14. Immu

    Can I be able to buy any Product through Emi payment method on Flipkart or Amazon??? Is this service available in it sir?

    Reply
    1. Siddharth Post author

      As long as you see ICICI listed on merchant site, yes you can. or, you can also avail inbuilt EMI feature.

      Reply
  15. Alexander

    What will be the credit limit for a salary of 38k in hand?

    Reply
    1. Siddharth Post author

      Usually = 2x of your monthly income – liablities/EMI

      Reply

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