ICICI Platinum Credit card, ICICI Bank is one of India’s largest private banks, which offers a large variety of credit cards to its customers. They have specialized in many areas such as venture capital, non-life insurance, investment banking and so on.
Here in the following, you get to know about one of their most demanding credit cards i.e., the ICICI Platinum Credit card. This chip credit card is lifetime free, and it is the best for those who want to have their first credit card and start to make their credit score.
ICICI Platinum credit card comes with many offers and discounts to know more, check out the below,
What are the eligibility criteria for an ICICI Platinum credit card?
To apply for an ICICI Platinum credit card, the applicants need to check these criteria of eligibility. Here is the list of criteria to check before applying for this credit card,
- The applicant must be age between 23 years to 60 years.
- Those below 23 years are not eligible to apply for an ICICI Platinum credit card.
- Salaried and non-salaried or self-employed both can be able to apply for this credit card.
- To get an ICICI Platinum credit card, you need a valid Fixed Deposit in ICICI Bank.
- The minimum amount of the Fixed Deposit is Rs. 20,000.
- And the minimum tenure of the fixed deposit has to be 180 days.
- In case the fixed deposit is in the name of third parties or a partnership, then the credit card cannot be issued.
- The ICICI Platinum credit card cannot be issued to foreigners or minors.
- If the fixed deposit is against linked/ Quantum/80c/ NRE/NRO/HRC or in case a lien is already marked on the fixed deposit then the credit card cannot issue.
- To get an ICICI Platinum credit card, the applicant must have a minimum monthly income of Rs. 15,000 or above.
- The applicants must have a CIBIL score of 700 minimum to get an ICICI Platinum credit card.
- If you have prior experience with ICICI Bank, in that case, the bank offers the ICICI Platinum chip credit card to its loyal customers.
Please note that the ICICI Platinum credit card is at the sole discretion of ICICI Bank.
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Documents needed for applying for ICICI Platinum credit card
Before applying for an ICICI Platinum credit card, you need to read the following documents
- A photocopy of these KYC documents such as,
- Voter ID
- Driving license
- PAN card
- In case you do not have a PAN card, then you need to submit FORM 60.
- For a salaried individual, they need to submit their recent salary slip
- For self-employed or businessmen, they need to submit their IT returns or submit FORM no.16
- Bank credit card statement.
- Address proof such as,
- Electricity bill
- Telephone bill
- AADHAAR card
- Voter ID
Please note, the above-mentioned documents are subjective it can vary from person to person as per bank rules.
How to apply for an ICICI Platinum credit card
Applying for the ICICI Platinum credit card is very easy and simple, you can choose online or offline, both modes to get your card. To apply for your ICICI Platinum credit card online, you need to follow the following step,
- Go to the official website of ICICI Bank
- Click on the credit card option
- Choose the ICICI Platinum chip credit card option from the list
- Fill the form correctly with all the details
- Upload all the documents as per the instruction
- Click on the submit option to complete the procedure.
After completing the online procedure, there is a message sent to your registered mobile number or mail will be sent to your registered email address for further reference.
To apply offline for your ICICI Platinum credit card, you need to visit your nearest ICICI Bank branch. There you get assisted by the bank people, and they let you know all the procedure and how to do it. After submission of all the required documents and fill the form, you get an application ID on your phone for further reference.
How long does it take to get an ICICI Platinum credit card
The processing time for a new credit card after submitting the application is a maximum of 30 to 45 working days. You check your application status through your phone, or you can go to the nearest ICICI Bank branch and ask for your application status.
How to check the application status
You can able to check your ICICI Platinum chip credit card status through online and offline modes. For online, you need to follow these steps,
- Go to the official website of ICICI Bank.
- Then click on the track application button
- Here you need to put your unique application ID, which was sent to your registered mobile number or your email ID.
- Then a new page opens with the current status of your application.
For offline checking your application status, you need to visit the nearest ICICI Bank branch, and they assist you to know your application status. Or you can call their helpline number and provide your unique application ID and over the phone, they tell you the status of your application.
Fees and charges of ICICI Platinum credit card
Here, the following is the list of fees and charges for the ICICI Platinum credit card.
- There are no joining fees for ICICI Platinum credit card
- There are no annual fees for first-year ICICI Platinum credit cards.
- On that point are no such supplementary charges deducted from the ICICI Platinum credit card.
- An annual fee of Rs. 199 will be deducted from the second year.
- In case the annual spent is more than 50,000 then the annual fee shall be waived.
- The monthly overdue interest rate of the ICICI Platinum credit card is 2.49%.
- The annual overdue interest of the ICICI Platinum credit card is 29.88%.
- For cash advance transactions, there is 2.50% will be charged to a minimum of Rs. 300 amounts.
- In case of late payment, 30% of the total amount will be chargeable to a minimum of Rs.400.
- Rs.100 card replacement will be charged.
- When the total amount is in between Rs. 5,000 to 10,000 a late payment fee of Rs. 750 will be charged.
- In case of total payable amount is between Rs. 10,001 to 25,000 the late payment fee will be 900.
- Late payment fee of Rs. 1,200 will be charge when the total amount is above Rs. 50,000
- For a dial-a-draft transaction, 3% of the total draft value will be charged on a minimum Rs.300 transaction.
- In the case of a return cheque, 2% of the total value will be deducted.
- For auto debit, 2% of the total amount will be charged.
- There are zero service charges in utility bills for railways ticket booking 1.80% of the transaction value for internet transactions. And 2.50% for other bookings.
The above-mentioned fees and charges are exclusive of GST and tax, so there are additional GST and tax will be added with each fee. And all the above-mentioned fees are subjective, so it can be changed as per the rule of the Government of India and RBI.
Benefits and features of ICICI Platinum credit card
ICICI Platinum credit card offers a lot of rewards and discounts on daily purchases, which is one of the most advantages of this credit card. Here in the following is the list of all rewards and benefits of the ICICI Platinum credit card.
- For every Rs. 100 spent, on utilities and insurance, you can get 1 reward point on your credit card.
- On retail purchases of a minimum of Rs. 100, you can get 2 reward points with an ICICI Platinum credit card.
- Up to 15% savings on dining bills, which can be applied to more than 2500 restaurants in India.
- When purchasing fuel from any Hindustan Petroleum fuel pump you get a 1% fuel surcharge on every transaction up to Rs. 4000.
Is ICICI platinum credit card worth it?
What is the benefit of a platinum credit card?
Is ICICI platinum card free?
Can I withdraw money from ICICI platinum credit card?
ICICI Platinum credit card is a chip card which helps you to make easy and hassle-free payment. Also, it is an entry-level credit card, which means if you are a first timer and uses a credit card then start with this as there is no such joining or annual fees will be charged.
If you love rewards and spends a lot, then this credit card is the right one for you. It offers rewards in every spend, and it gives higher rewards when you spend on retail purchase.
Hope, here you can get all the information regarding the ICICI Platinum credit card, and it helps you in future when you apply for this credit card.