Starting November 15, ICICI Bank will implement revisions to some of its credit card terms, which will impact reward points, transaction fees, and benefits across various card categories. Changes include an increase in the spending requirement for airport lounge access, a limit on rewards for utility, insurance, and grocery purchases, and the introduction of additional charges for supplementary cardholders.
Changes in Fuel Surcharge Waiver Policy
ICICI Bank has made adjustments to its fuel surcharge waiver scheme for credit card users. The bank now offers a waiver for fuel surcharges on transactions up to Rs 50,000 per month for all credit card holders. However, for those with the exclusive Emeralde Mastercard Metal Credit Card, the waiver limit has been raised to transactions amounting to Rs 1 lakh each month.
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Airport Lounge Access
Cardholders are now required to spend approximately Rs 75,000 in the previous calendar quarter to qualify for complimentary airport lounge access, a significant increase from the previous requirement of around Rs 35,000.
The revised spending requirement for complimentary access to domestic airport lounges will apply to various ICICI Bank credit cards, including the ICICI Bank HPCL Super Saver Visa Credit Card, ICICI Bank MasterCard Coral Credit Card, ICICI Bank Rubyx Visa Credit Card, ICICI Bank Sapphiro Visa Credit Card, ICICI Bank Adani One Signature Credit Card, MakeMyTrip ICICI Bank Platinum Credit Card, and more.
Utility and Insurance Payments
Reward points will continue to be earned on utility expenditures up to approximately Rs 80,000 and insurance payments up to around Rs 80,000 at the current rate.
Additionally, reward points can still be earned on utility expenditures up to approximately Rs 40,000 and insurance payments up to around Rs 40,000 at the existing rate.
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Grocery and Departmental Store Purchases
Reward points earned on grocery and departmental store spending will be limited. Premium credit cardholders (ICICI Bank Rubyx Visa, Sapphiro Visa, Emeralde Visa, and others) can earn rewards on up to Rs 40,000 monthly spend on grocery. For all other cards, the cap is set at Rs 20,000 monthly spend.
Annual fee
The annual fee reversal and milestone benefits will no longer be applicable to rent, government, and education payments made with credit cards. This change will impact all credit cards offered by our bank.
Furthermore, the spending threshold for annual fee reversal on ICICI Emeralde and Emeralde Private Metal credit cards has been lowered from Rs 15 lakh to Rs 10 lakh per year.
Spa facilities at airports
Please note that the spa facility at airports, which was previously available through the DreamFolks card, has been discontinued. This service was offered on select cards, including the 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.
Charges for Supplementary Cardholders
An annual fee of approximately $199 will be levied for supplementary cardholders, commencing from the card’s anniversary month.
Credit Card Transaction Fees
If you use your ICICI credit card to pay school or college fees through third-party payment apps like CRED, Paytm, Cheque, or MobiKwik, a 1% transaction fee will be applicable. To avoid this fee, consider making payments directly through the school/college website or via a POS machine.
Fee payment
A fee of 1% will be applied to educational and utility transactions carried out using third-party payment applications when using ICICI Bank credit cards. This fee is applicable for payments made towards educational expenses through platforms like CRED, Paytm, Cheq, MobiKwik, and others. However, no charges will be incurred if educational transactions are made directly through college or school websites or their POS machines using ICICI Bank credit cards.
Furthermore, ICICI Bank will impose a surcharge of 1% on utility payments exceeding Rs 50,000 per month when using their credit cards.
