ICICI Platinum Chip Credit Card: Benefits, Pros and Cons, and How to Apply

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For those looking for a straightforward credit card, ICICI Bank has created the Platinum Chip Credit Card. Using this credit card will be safer because of the embedded security chip. These new chip cards have an extra degree of protection against fraud. 

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Cardholders can earn up to two Reward Points for each dollar spent, and then use them for cash back or other rewards. Furthermore, under the ICICI Bank Culinary Treats Programme, consumers may take advantage of special discounts at over 2,500 restaurants in India.

In this article, you can read more information about the ICICI Platinum Credit Card, its benefits, and fees.

  • What Are the Features of the ICICI Platinum Chip Credit Card?
  • What Is the ICICI Rewards System?
  • Pros of the Platinum Chip Credit Card
  • These Are the Fees for the Platinum Chip Credit Card
  • Eligibility Criteria for the Credit Card
  • Learn More About ICICI Bank Mobile Banking App
ICICI Platinum Chip Credit Card: Benefits, Pros and Cons, and How to Apply
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What Are the Features of the ICICI Platinum Chip Credit Card?

The ICICI Bank Platinum Chip credit card has no annual fee and saves you a lot of money on everything you buy. With this card, you can get up to two Reward Points for every dollar you spend, and you can use those points for several things, including cash back. 

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ICICI Platinum Chip Credit Card: Benefits, Pros and Cons, and How to Apply
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As mentioned, its ICICI Bank Culinary Treats Programme also gives customers discounts on meals at more than 2,500 restaurants in India. Cardholders can also save 1% on all fuel purchases at HPCL pumps when they use their cards. 

The ICICI Bank Platinum Chip Credit Card was made so that customers could get a credit card that was simple and easy to use. 

The security chip on this credit card will protect you from fraud. Another layer of security is added to these new chip cards, which is a Personal Identification Number (PIN).

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What Are the Welcome Offers of the ICICI Platinum Chip Credit Card?

You can get PAYBACK Points for all your purchases with the ICICI Bank Platinum Chip Credit Card. PAYBACK has established itself as the most popular Rewards Program in India. You can earn various desirable benefits with ICICI credit card reward points.

Every time you make a purchase with your ICICI Bank Platinum Chip Credit Card, you’ll receive PAYBACK Points. You may also earn additional points from PAYBACK Partner Brands.

There are numerous ways to cash in your PAYBACK Points. Discounts on vacation packages, luxury goods, movies, home electronics, cell phones, and more are just some.

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What Is the ICICI Rewards System?

Whenever you use your ICICI Bank Credit Card, you can earn Reward Points. India’s largest reward program, ICICI Reward Points, powers ICICI Bank Reward, which gives you various exciting reward points for the money you spend every day.

ICICI Platinum Chip Credit Card: Benefits, Pros and Cons, and How to Apply
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When you buy something with your ICICI Bank Credit Card, you get rewards and extra points from ICICI Reward Points Partner Brands.

You can get many different things with your Reward Points, like gift cards for movies and travel, lifestyle products, mobile phones, appliances, and more. When you shop with your ICICI Bank Credit Card and ICICI Reward points, you get something out of it.

You can get two Reward Points for every 100 you spend on anything in a store (except fuel). With ICICI Reward Points, India’s largest multi-partner coalition loyalty program, it’s easy to exchange your points for nice products. For every 100 you spend on utilities and insurance, you’ll get one Reward Point.

What Is the Security of the Chip Card?

ICICI Bank Chip Credit Cards have a microchip inside, making it harder to copy or fake the card. It also adds an extra layer of security in the form of a Personal Identification Number (PIN). You must type in your four-digit PIN at merchant locations on the terminal.

Further, your four-digit PIN will be sent to your mailing address separately. It should get to you within seven business days after you get your Platinum Chip Credit Card.

Pros of the Platinum Chip Credit Card

When the card is swiped through an ICICI Merchant Services swipe machine, a 1% fuel surcharge waiver can be used on fuel purchases of up to ₹4,000 at HPCL pumps.

ICICI Platinum Chip Credit Card: Benefits, Pros and Cons, and How to Apply
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The best dining experiences now come with savings that are just as impressive. With the ICICI Bank Culinary Treats program, you can save at least 15% off your bill at more than 2,500 restaurants in 12 major cities.

Luxury hotels, restaurants, lifestyle stores, and spas all have great deals on wine, food, and relaxation.

Visa also has a Global Emergency Assistance Service that you can use when traveling abroad to report a lost card, get a replacement card, get emergency cash, or ask any other questions you may have.

What Are the Other Pros of the Platinum Chip Credit Card?

Every time you spend ₹100 on anything other than fuel in a store, you’ll get PAYBACK Points. Get one PAYBACK Point for every ₹100 you spend on insurance and utilities. There are a lot of special deals and discounts on well-known brands that users can take advantage of online.

If you collect many points, you can enjoy more perks. The bank sets one required point equal to ₹0.25.

These Are the Fees for the Platinum Chip Credit Card

Like most credit cards, the ICICI Platinum Chip Credit Card features annual fees, interest rates, and other constant costs. Verify the ICICI Platinum Chip Credit Card before applying to see if the card is right for you.

ICICI Platinum Chip Credit Card: Benefits, Pros and Cons, and How to Apply
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  • Joining Fee – None
  • Annual Fee (Second year onwards) – None
  • Supplementary Card Fee – None
  • Overdue Interest on Extended Credit and Cash Advances – 3.40% per month (40.80% per year)
  • Spend-Based Waiver – None
  • Rewards Redemption Fee – ₹99 for every redemption request
  • Foreign Currency Markup – 3.5% of the transacted amount
  • Cash Advance Charge – ₹300 or 2.5% of the amount withdrawn (whichever is greater)
  • Add-On Card Fee – None
  • Late Payment Fee – Varies

ICICI is proud that it has launched a credit card with immense security while having relatively low rates. Thus, the Platinum Chip Credit Card is a viable option for those looking for 0% annual fee credit cards.

Is There an Interest-Free Period for Platinum Chip Credit Card?

ICICI offers Platinum Chip Credit Card customers up to 48 days of the interest-free period. After that, you will be charged a monthly basic interest fee of 3.40%.

Thus, paying the balance 48 days after your purchase is advisable, so you will not be charged the interest. However, the interest in ICICI Platinum Chip Credit Card is relatively lower than average in the market.

Eligibility Criteria for the Card

The eligibility requirements for an ICICI Platinum Chip Credit Card are not overly stringent. One requirement for applying was being an Indian citizen.

ICICI Platinum Chip Credit Card: Benefits, Pros and Cons, and How to Apply
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There are age restrictions: primary cardholders must be at least 23 years old, and add-on cardholders must be 18 years old. 

While it doesn’t explicitly require it, you should also be financially stable and have a high credit score. If you have bankruptcy on your record or poor credit history, you may have a more challenging time getting the approval of the ICICI bank.

You must also know that you need to provide supporting documents for your Platinum Chip Credit Card application.

How Can You Apply for a Platinum Chip Credit Card?

You can apply for a Platinum Chip Credit Card online or in person, whichever is more convenient for you. To apply offline, just go to the branch nearest you and fill out an application form in person. In this case, ensure you have all the documents you need. 

If you want to apply online, you can do the same by taking a few easy steps. You must visit ICICI Bank’s official website and proceed with filling out the application form. 

If you have already applied for the Platinum Chip Credit Card, you can check the status of your application in any of the following ways.

  • Visit ICICI Bank’s online application tracking page, enter the required information, and you’ll know how your application is doing in seconds.
  • Call ICICI Bank’s credit card customer service and ask about the status of your application.
  • Go to the ICICI branch closest to you and ask the staff about the same thing.

Learn More About the ICICI Bank Mobile Banking App

You can manage your Platinum Chip Credit Card account on the bank’s official mobile banking app. With ICICI Bank Mobile Banking, you can use our banking services from your phone while on the go. 

ICICI Platinum Chip Credit Card: Benefits, Pros and Cons, and How to Apply
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Mobile banking services are easy to use and work well on all modern smartphones. This makes it easy for you to manage your bank account from start to finish. Explore the mobile banking platform to find a quick and easy way to manage your account from anywhere, anytime.

You can use mobile banking services, manage your account, and use internet banking services like fund transfers, bill payments, and prepaid mobile or DTH recharges from anywhere, at any time.

You may get the ICICI Bank Mobile Banking app free from the Google Play Store.

What Is the ICICI Bank’s Contact Information? 

If you have questions regarding the Platinum Chip Credit Card, it is best to visit an ICICI. You can also proceed and seek help with your Platinum Chip Credit Card application. 

There are over 5,000 ICICI branches, and its Corporate Office is at ICICI Bank Towers, Bandra Kurla Complex, Mumbai 400 051.

You may also call the ICICI customer care service hotline at 1800 1080 for your application queries.

Conclusion

The card is a primary credit card that is based on points. Its partners offer a long list of deals regularly, making it a great credit card choice for people who want to save money on shopping. This card is suitable for beginners who already have a credit card and want to take advantage of exciting deals.

Disclaimer: There are risks involved when applying for and using ICICI Bank Credit Card products. Consult its Terms and Conditions page before agreeing to anything.