ICICI Bank Coral vs ICICI Bank Platinum Chip Credit CardICICI Bank Coral vs ICICI Bank Platinum Chip Credit Card

ICICI Bank Coral vs ICICI Bank Platinum Chip Credit Card

When discussing the fundamental ICICI Bank Credit Cards, the ICICI Bank Coral and ICICI Bank Platinum Chip Credit Card stand out as prominent offerings from the bank. These cards are particularly appealing to individuals with limited credit card experience, given their affordability. Although both cards cater to this target audience, the Coral credit card offers additional advantages compared to the Platinum Chip Card.

The Platinum Chip Credit Card is a no-cost card for a lifetime and features a respectable reward program. On the other hand, the Coral Credit Card, while carrying a nominal annual fee, provides notable benefits, including complimentary airport lounge access, enticing dining discounts, and more.

Both cards offer a similar reward scheme, accruing 2 Reward Points for every Rs. 100 spent, minimizing disparities in their perks. However, the Coral Credit Card presents an added incentive of earning up to 10,000 bonus Reward Points yearly upon reaching a spending milestone. Moreover, it grants the opportunity to waive off the annual fee each year after the first, rendering it a lifetime free card. Choosing between ICICI Bank’s basic credit cards, the dilemma arises between the Platinum Chip Card, which is lifetime free, and the Coral Credit Card with exclusive benefits but a nominal annual fee.

Features and Benefits of ICICI Bank Coral and ICICI Bank Platinum Chip Credit Card

ICICI Bank Coral Credit Card:

  1. Introduction:
    • Basic yet highly popular offering from ICICI Bank.
    • Affordable joining/annual fee of Rs. 500.
  2. Benefits Across Categories:
    • You can accumulate as many as 4 Reward Points for each Rs. 100 you spend.
    • Redeem points for various options.
    • Additional 10,000 Reward Points annually on achieving spend milestone.
  3. Airport Lounge Access:
    • Complimentary access to selected domestic airport lounges.
  4. Entertainment Benefits:
    • 25% discount on movie tickets on BookMyShow & Inox twice a month.
  5. Detailed Features:
    • Get 2 reward points for every Rs. 100 spent on retail purchases.
    • 1 Reward Point on utility and insurance spends of Rs. 100.
    • 4 Reward Points on online spend of Rs. 100 with AmEx variant.
    • Extra points will be awarded upon reaching spending milestones, with a maximum cap of 10,000 points.
    • Complimentary domestic and railway lounge access quarterly.
    • 25% discount on movie ticket bookings monthly.
    • Up to 15% discount on dining with Culinary Treats Programme.
    • If you spend Rs. 1.5 lakhs or more in the previous year, you won’t have to pay the annual fee.

ICICI Bank Platinum Chip Credit Card:

  1. Introduction:
    • Entry-level card with zero annual fee.
    • Designed for individuals new to the credit card world.
  2. Reward Rate:
    • Similar reward rate as ICICI Coral Card.
    • Earn up to 2 Reward Points on every Rs. 100 spent.
  3. Additional Privileges:
    • Limited additional privileges.
  4. Detailed Features:
    • 2 Reward Points on retail purchases of Rs. 100.
    • 1 Reward Point on utility and insurance spends of Rs. 100.
    • Up to 15% discount on dining at participating restaurants.
    • 1% fuel surcharge waiver at all HPCL fuel stations.

Comparison between ICICI Bank Coral and ICICI Bank Platinum Chip Credit Card

ICICI Bank Coral Credit Card:

  • Annual Fee: Rs. 500
  • Rewards Rate:
    • 2 Reward Points on every Rs. 100 spent on retail purchases.
    • Earn one Reward Point for every Rs. 100 spent on utility and insurance transactions.
    • 4 Reward Points on every online spend of Rs. 100 with the AmEx variant.
  • Reward Redemption: Each Reward Point holds a value of Re. 0.25 and can be utilized for a variety of options such as gifts or cashback.
  • Additional Benefits:
    • Get 1,000 bonus reward points for achieving a spend of Rs. 1 lakh within a year.
    • 1 complimentary domestic lounge access every quarter.
    • 1 complimentary railway lounge access every quarter.
    • 25% discount on movie tickets on BookMyShow & Inox.
    • Annual fee waived off on spending Rs. 1.5 lakh or more in the previous year.
    • Up to 15% discount on dining at participating restaurants.

ICICI Bank Platinum Chip Credit Card:

  • Annual Fee: Nil
  • Rewards Rate:
    • 2 Reward Points on every Rs. 100 spent on retail purchases.
    • Earn one Reward Point for every Rs. 100 spent on utility and insurance purchases.

      est?

      1. Compare ICICI Bank Coral & Platinum Chip Credit Cards for a final decision.
      2. Before making a decision, it’s wise to list out the benefits you desire in a credit card if you’re unsure.
      3. Opt for ICICI Platinum Chip Card for rewards or zero annual fee preference.
      4. Choose ICICI Bank Credit Card for additional perks like lounge access, movie, dining discounts, milestone benefits, etc.
      5. Analyze spending habits to align with the appropriate credit card features.
  • Reward Redemption: Each Reward Point holds a value of 25 paise when redeemed for a variety of options, such as gifts or cashback.
  • Additional Benefits:
    • 1,000 bonus reward points for achieving a spend of Rs. 1 lakh within a year.
    • 1 complimentary domestic lounge access every quarter.
    • 1 complimentary railway lounge access every quarter.
    • 25% discount on movie tickets on BookMyShow & Inox.
    • Annual fee waived off on spending Rs. 1.5 lakh or more in the previous year.
    • Up to 15% discount on dining at participating restaurants.

Which credit card suits you b

Frequently Asked Questions (FAQs)

Q1: What sets apart ICICI Bank Coral from ICICI Bank Platinum Chip Credit Cards?

A1: ICICI Bank Coral and Platinum Chip Credit Cards vary in terms of their features, advantages, and rewards schemes.

Q2: Which card is more advantageous for earning rewards on daily expenditures?

A2: Opting for the ICICI Platinum Chip Card is more favorable for accumulating rewards on routine purchases.

Q3: Is there an annual fee associated with the ICICI Platinum Chip Credit Card that I need to pay?

A3: Notably, the ICICI Platinum Chip Card stands out for its absence of an annual fee, offering a budget-friendly solution.

Q4: What extra perks does the ICICI Bank Credit Card provide compared to the Platinum Chip Card?

A4: The ICICI Bank Credit Card extends additional benefits like complimentary lounge access, discounts on movies and dining, milestone rewards, among others.

Q5: How can I choose between the two cards based on my spending habits?

A5: Assess your spending behaviors; prioritize rewards and zero annual fees, the Platinum Chip Card is ideal. If added benefits like lounge access and discounts are crucial, consider the ICICI Bank Credit Card.

Q6: Are there specific eligibility requirements for these credit cards?

A6: Eligibility criteria may vary, so it’s advisable to verify with ICICI Bank for the specific prerequisites for each card.

Q7: Can I switch from the Platinum Chip Card to the ICICI Bank Credit Card later?

A7: Depending on your eligibility and the bank’s policies, you may have the opportunity to upgrade your credit card.

Q8: How can I apply for either the ICICI Bank Coral or Platinum Chip Credit Card?

A8: To initiate the application process and ascertain the necessary documents, visit the official ICICI Bank website or reach out to the bank directly.

Q9: Do both cards offer insurance or protection benefits?

A9: While both cards may include insurance and protection features, it’s essential to review the terms and conditions for any discrepancies.

Q10: Are there any foreign transaction fees associated with these credit cards?

A10: Verify the terms of each card, as foreign transaction fees might be applicable, and the rates could differ between ICICI Bank Coral and Platinum Chip Credit Cards.

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