ICICI Instant Platinum Credit Card

ICICI Instant Platinum credit card will be issued instantly. ICICI Bank Instant Platinum Credit Card is an ideal choice especially for those who need a credit card instantly with no frills attached to it. You will also get access to massive knowledge on credit score building. Read on to know about the list of features and benefits that come along with this credit card!

Last modified:2019-06-26


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ICICI Bank Instant Platinum Credit Card

ICICI Bank Instant Platinum Credit card is an intelligent choice with minimum trouble. ICICI bank is thought for its out-of-the-box product and this MasterCard is one in each of them. ICICI Bank Instant Platinum Credit Card is an ideal choice especially for those who need a credit card instantly with no frills attached. Those who are looking forward to building their credit score, this credit card is an ideal choice for them as well. With this ICICI credit card, the card bearer gets a complimentary membership to the Credit Builder Program. This association helps the cardholder gain good credit score and reputation against his/ her good credit behavior. The applicant also gets access to great knowledge of credit score building. Keep reading to know about the list of benefits that come along with this credit card!

Low-interest rate 2.49% per month
The rate of interest (minimum) 1.25%
The rate of interest (maximum) 3.50%
Joining fee and Annual Fee Nil
Fuel surcharge 1%

Why Choose ICICI Bank Instant Platinum Credit Card?

Savings on Fuel Purchases: 1% fuel surcharge waiver can be availed on fuel transaction of maximum Rs.4,000 at HPCL pumps when the Card is swiped on ICICI Merchant Services swipe machines.
VISA Offers on Dining, Wellness, and Hotels: Wine, dine and unwind with great discounts and offers from luxury hotels, restaurants, lifestyle stores, spas and more.
Low-interest rate: You can earn interest on your fixed deposit and use the Instant Card to manage your day to day liquidity. The Card is obtainable at a low interest rate of 2.49% per month. If you make full payment against outstanding, no interest will be charged on your Card. Interest is charged as long as you choose to make no/ part payments on your Card.
Internationally valid: Global Emergency Assistance and Card replacement service available.

What are the Fees and Charges of ICICI Instant Platinum Credit Card

Joining Fee Nil
Annual fee Nil
Supplementary Card fee Nil
Overdue Interest on Extended Credit and Cash Advances 2.49% per month (29.88% annualized)

Late Payment Charges (LPC): Late payment charges are applicable if the Minimum amount due isn't paid by the payment maturity.
Illustrative Example for Calculation of Late Payment Charges:  Payment of at least Minimum Amount Due i.e. Rs.100 in the above example, is required to be paid by the payment due date (3rd May), to ensure that no late payment charges are levied. If minimum quantity due isn't paid, late payment charges would be levied as per the below table:

Total Amount Due Late Payment Charges
Less than Rs.100 None
Between Rs.100-500 Rs.100
Between Rs.501-10,000 Rs.500
More than Rs.10,000 Rs.750


Thus, in the above example, since the minimum amount due of Rs.100 is not paid by the payment due date of May 3, 2009, and since Total Amount Due was Rs.2000, late payment charges of Rs.500 will be levied on 4th May, 2009. This charge also will be applicable if you create a payment of but the minimum quantity due by the payment maturity. GST will be applicable on late payment charges.

Interest Charges:

  1. Interest is charged if the overall amount due isn't paid by the payment maturity. Interest is charged on the overall amount Due and on all new transactions (from the transaction date) till such time as the previous outstanding amounts are paid fully. Also, interest is levied on all money advances from the date of the transaction till the date of payment.
  2. The rate of interest is also modified at the only discretion of ICICI Bank. It will be as low as 1.25% per month (15% per annum) depending on factors such as, but not limited to, credit history, purchase patterns, payment behavior, loyalty, and month-on book.
  3. In case of default, interest charges might increase up to a most of 3.50% per month (42% per annum). The following illustration can indicate the strategy of calculating interest charges: Within the table given below, it has been assumed that the Total Amount Due of the previous month statement has been paid by the payment maturity and there's no outstanding amount. The statement date is 15th of every month. Given are the assumptions, interest will be calculated as below:
 
Transaction Rs.
Purchase on April 10, 2009 2,000
Total Amount Due on statement dated April 15, 2009 2,000
Minimum Amount Due on statement dated April 15, 2009 100
Payment due date - May 3, 2009
Purchase on May 7, 2009 800
Payment on May 10, 2009 1,500
On statement dated May 15, 2009, following interest charges will be levied:
Interest calculations @ 40.80% per annum for Gold Card
(a) Interest on Rs.2000 for 30 days (from April 10 to May 9) 67.07
(b) Interest on Rs.500 for 6 days (from May 10 to May 15) 3.35
(c) Interest on Rs.800 for 9 days (from May 7 to May 15) 8.05
Total interest charged in the statement dated 15th May 78.47

GST will be applicable on interest charges.

How to apply for ICICI Instant Platinum Credit Card?

Get a set deposit with ICICI Bank (even higher if you have already got one)

  • To get associate ICICI Bank Instant Platinum MasterCard, all you wish could be a valid Fixed Deposit with ICICI Bank.
  • The minimum Fixed Deposit amount is ₹ 20,000.
  • The minimum tenure of the Fixed Deposit must be 180 days.



Please conjointly note that the Instant Platinum Credit card  cannot be issued

  • If the Fixed Deposit is within the name of Third parties/Partnership corporations /HUF /Society /Trust /Companies.
  • Against Linked/Quantum /80C/NRE/NRO/HFC Fixed Deposits or if a lien is marked already on the Fixed Deposit.
  • To minors and foreign nationals.

What are the Features and Benefits of ICICI Instant Platinum Credit Card?

Immediate Issuance:
As the name suggests, the ICICI Bank Instant Platinum Credit Card is issued instantly. It is available at more than 2,000 ICICI Bank branches and issued against specific types of fixed deposit schemes. In case, the applicant doesn't have any existing fixed deposit with the bank, he/she can get one and receive the card immediately.

Free of Cost
This MasterCard is issued at zero value as long as one has a fixed deposit with ICICI Bank. There is no joining and annual fee. Also, there's no have to be compelled to show financial gain documents to avail the cardboard.

PAYBACK Reward Programme
ICICI Bank Instant Platinum credit card members are automatically registered in PAYBACK’s multi-brand loyalty programme.

  • The credit cardholder earns 2 PAYBACK reward points for each Rs. 100 spent on every kind of purchases apart from fuel
  • These reward points will be redeemed for shopping and exciting gifts

International Validity
The ICICI Bank Instant Platinum credit card is recognized internationally. Cardholders conjointly receive international emergency help and card replacement service.

Nominal Rate of Interest
The rate of interest charged on the ICICI Bank Instant Platinum Credit Card is sort of low – it's just 2.49% per month. Interest is levied only if the client makes half payment or zero payment. If the customer pays the outstanding amount in full, ICICI Bank does not charge any interest on the credit card.

Security Features
ICICI Bank Instant Platinum Credit Cards have extra security features that prevent misuse, counterfeiting, and duplication of the card. The bank provides microchip-embedded credit cards to ensure additional security to cardholders.

  • New ICICI Bank Instant Platinum Credit Cards that have a microchip installed have extra security through Personal Identification Number (PIN). The cardholder has to enter this unique PIN in the card swipe machine every time the cardholder has to make a payment at a merchant outlet.
  • However, the PIN is not required for online transactions. Instead, the cardholder has to register his/her credit card for a special 3D Secure service (that is verified by Visa) on ICICI Bank’s website for online transactions – this adds an additional layer of security and allows the cardholder to shop securely.

Discount on Movie Tickets
ICICI Bank Instant Platinum Credit Card members receive enticing discounts on purchase of movie tickets.

  • When show tickets are reserved through the BookMyShow website, card members receive a reduction of Rs. 100. This rebate is on the market doubly a month and translated into savings of Rs 2,400 per annum.
  • It is vital to notice that a restricted variety of tickets as offered under this promotional scheme daily and that booking is done on 1st come back first serve basis

Savings on Eating Out
ICICI Bank Instant Platinum Credit Card customers receive a minimum discount (savings) of 15% on dining at over 800 restaurants in ten cities in India. This scheme is obtainable to customers in partnership with Culinary Treats.

Savings on Purchase of Fuel
ICICI Bank Instant Platinum Credit Card members will get pleasure from the waiving off of the 1% fuel surcharge on fuel transactions that don't exceed Rs 4,000. This scheme is valid just for fuel purchased at HPCL pumps once the ICICI Bank Instant Platinum Credit Card is employed at ICICI Bank merchant swipe machines.

Visa Offers
Visa provides enticing bargains on dining in restaurants, stay in luxury hotels, purchase of products at style stores, wellness treatments in spas, etc. in India and abroad.



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What is ICICI Bank Credit Builder Programme?

ICICI Bank Instant Platinum Credit Card members will be a part of the free ICICI Bank Credit Builder Programme that helps bring a decent credit score. Membership of ICICI Bank Credit Builder Programme is complimentary for ICICI Bank Instant Platinum Credit Card customers. ICICI Bank offers data on ways in which to create a decent credit score. ICICI Bank communicates sensible credit behavior of ICICI Bank Instant Platinum Credit Card members to credit data corporations like CIBIL, Equifax, etc. in order to get a positive credit score for the members. ICICI Bank suggests some good practices build a better credit score:
  • It asks cardholders to use the MasterCard oftentimes to make purchases as a result of the credit score is generated only if the card is used for spending.
  • ICICI Bank advises customers to use their MasterCard within the prescribed credit limit so that they don’t default in paying the credit card bill.
  • The bank recommends that customers pay the monthly MasterCard bill on time as a result of late payments and defaults have an effect on the credit score negatively. It encourages members to actively take care of the credit score by managing purchases and payments.

What is the Eligibility Criteria for ICICI Instant Platinum Credit Card?

Take a glance at the following eligibility criteria for the ICICI Bank Instant Platinum Credit Card:

  • Age Limit: The age group of 18 years to 60 years can apply for this credit card. The add-on age limit is 15 years.
  • Income Stability: The applicant should have a stable financial gain supply to stay up with the method of repayment.
  • Nationality: The applicant should have Indian nationality.
  • Credit Score: The applicant should bear a significantly good credit score and should not have a history of credit defaults.
  • Valid Fixed Deposit: To get an ICICI Bank Platinum credit card, you will need a valid fixed deposit with the bank of a minimum amount of Rs. 20,000.
  • Tenure of Fixed Deposit: The minimum tenure of the Fixed Deposit has to be of one 180 for it to be valid to get the MasterCard.
  • Ownership of Fixed Deposit: The Fixed Deposit shouldn't be within the name of a 3rd party, a partnership firm, HUF, society, trust or a company.
  • Type of Fixed Deposit: The ICICI Bank Instant Platinum credit card cannot be issued to you if against linked/ quantum/ 80C/ NRE/ NRO/ HFC Fixed Deposits or if a lien is marked on the deposit.

What are the Documents Required for ICICI Bank Instant Platinum Credit Card?

Before applying for credit card, you need to submit the below-mentioned documents as proof and for the approval of the credit card of your choice.

The documents needed to use for the ICICI Bank Instant Platinum credit card are:

  • Identity Proof
  • Address Proof
  • PAN Card
  • ITR
  • Passport sized photographs
     

ICICI Bank Customer Care Number

ICICI Bank credit card customers can contact ICICI bank credit card customer care for any unresolved query through call, email, and SMS. Here are the details:

ICICI Bank credit card customer care toll-free number: For any queries or grievances, you can call on toll-free number 1800 200 3344 between 9 am to 6 pm from Monday to Friday. For 24x7 help, customers can contact on state-wise ICICI Bank credit card customer care numbers.

ICICI Bank credit card customer care Email ID: ICICI Bank credit card holders can submit their grievances by filling up the complaint form by mentioning their registered email ID.

ICICI Bank credit card customer care address for communications through emails and couriers:

ICICI Bank Limited

ICICI Phone Banking Canter,

ICICI Bank Tower, 7th floor,

Survey no: 115/27, Plot no. 12, Nanakramguda,

Serilingampally,

Hyderabad - 500032


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