ICICI Platinum Chip Card Review

By | March 9, 2021

ICICI Bank is known for its wide promotional activities. ICICI has launched its card named ICICI Platinum Chip Card with the tagline of best reward card.

They always spread the word that they have the best reward system in the whole credit card market. But, the reward system of ICICI is not that appreciable.

Let us see what is there in this card to provide you in terms of reward, or is it beneficial to use, or you can go for other cards like HDFC Regalia Credit Card or Indusind Iconia Credit Card.

ICICI Platinum Chip Card Review

ICICI Platinum Fees

Joining FeeNil
Annual FeeNil
Supplementary Card FeeNil
Overdue interest 3.40%/ month

ICICI Platinum Rewards

  • 2 payback points on every Rs.100 on retail spent.
  • 1 payback point on every Rs.100 spent on utilities & insurance.

You can redeem this points for movie ticket booking, lifestyle products, appliances and more.


ICICI Platinum chip card eligibility
  • For Salaried Individual: Rs.15000 per month
  • For Self-Employed: Rs.50,000 per month

Lounge Access

No lounge access service provided.

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ICICI Platinum Fuel Surcharge Waiver

1% fuel surcharge waiver on making transactions between Rs.400-4000 at all HPCL petrol pumps.


The finest dining experiences now come with equally impressive savings. With the help of the ICICI Bank Culinary Treats program, you can save up to 15% on all your dining bills at over 2,500 participating restaurants.

How to apply?

You can apply for the card in the following manner:

  1. You have to visit the ICICI website or the nearby ICICI branch to apply for the card.
  2. Fill up all the information to apply for the card
  3. Submit all the necessary documents required for the credit card

Our Suggestion

This is a fundamental card and is good for those who want beginner card to understand the usage of credit card & how it works.

This card gives a fundamental reward and does not offer any lounge access. The best part about the platinum chip card is that it does not charge any joining fee or annual fee.

I will suggest you go for HDFC cards if you’re looking for a decent amount of return on your spending. Otherwise, if you are a beginner and have faith in ICICI services and want a card from that bank only, you can go for this.

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ICICI Platinum chip card features
  • Foreign currency markup: 3.5%
  • Interest rate: 3.4% per month
  • Reward rate: 1.5%
  • Fuel surcharge: 1%
  • Lounge access: Nil

Documents Required

  • Identity Proof: PAN Card, Aadhar Card, Voter’s ID Card, Driving License, Ration Card
  • Address Proof: Aadhar card, Voter’s ID, Ration Card, Electricity Bill, Lease/Rent Agreement, Utility Bills
  • Income Proof: Salary Slip of last 3 months
    • Bank Statement of last 6 months
    • ITR of an annual year


Zero joining/annual feeNo lounge access
Average reward rate

Bottom Line

The card provides no such exciting things. If you want a credit card with no joining and a renewal fee, this is the perfect suit for you. You can not get much out of this card even if you spend a lot.

However, ICICI benefits you in terms of allowing you to spend more than your prescribed limit.


How can I foreclose or cancel the EMI on my ICICI Platinum Chip Credit Card ?

Login to www.icicibank.com and Customer Service > Service Requests > Credit Card > Card related queries > Queries Related to EMI-on-Call Facility  > Select Type of Query as Foreclosure of EMI on Call facility > Enter the required details to submit your request.

If the cancellation request within 17 days of booking, No chargers would be levied. If the request places post 17 days of booking EMI, a foreclose fee of 3% on the remaining outstanding principal would be levied.

How I can link my other bank credit card in my savings Account

No, you cannot link a Non ICICI Credit card to your ICICI Savings account.

How can I increase Credit limit on my Fixed deposit Insta card?

The credit limit on your ICICI Bank Instant Credit Card is assigned based on your Fixed Deposit (FD) amount. If you wish to have a higher limit on your ICICI Bank Instant Credit Card, you may close or cancel this existing FD and credit card and may apply for the new FD with the higher amount.

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