ICICI Bank Credit Card New Rules: Using ICICI Bank’s credit card will become more expensive than before. India’s second largest private sector bank ICICI has changed the rules for its credit card holders. These changes have come into effect from November 15, 2024
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ICICI Bank Credit Card New Rules: Using ICICI Bank’s credit card will become more expensive than before. India’s second largest private sector bank ICICI has changed the rules for its credit card holders. These changes have come into effect from 15 November 2024. These rules include reward cap, transaction fees, lounge access and extra charges.
ICICI changes its credit card
Limit on rewards
Utility and insurance payments:
Entry-level and mid-range cards: ₹40,000 monthly.
Premium cards: ₹80,000 monthly.
Grocery expenses:
Entry-level cards: ₹20,000 monthly.
Premium cards: ₹40,000 monthly.
Fuel expenses:
General limit: ₹50,000 monthly.
Limit for Emerald Mastercard holders is ₹1 lakh monthly.
New transaction charges
1% charge will apply on:
Education payments on third party platforms.
Utility payments above ₹50,000.
Fuel payments above ₹10,000.
Payments excluded from Milestone benefits
Payments will no longer be eligible for milestone benefits or charge waivers:
Rental payments.
Government transactions.
Education payments.
Revised charge structure
Supplementary card charge: ₹199.
Late payment charges:
Dues up to ₹500: ₹100.
Dues above ₹50,000: ₹1,300.
Changes in lounge access and membership
Complimentary airport lounge access:
Minimum spend requirement of ₹75,000 in the previous quarter.
Spa service:
Will no longer be available under Dreamfox membership.
Emerald cardholders:
The spending limit for annual charge waiver has been reduced from ₹12 lakh to ₹10 lakh. In view of these changes, ICICI Bank advises its credit card holders to review their spending plans and usage patterns to avoid unexpected charges and reduction in benefits.
