ICICI Coral Credit Card vs SBI SimplySave Credit CardICICI Coral Credit Card vs SBI SimplySave Credit Card

ICICI Coral vs SBI SimplySave Credit Card

The ICICI Bank Coral Credit Card shines brightly as a popular choice for those stepping into the world of credit cards. Renowned for its attractive benefits in travel, dining, and movie experiences, it also boasts a commendable reward rate that adds to its appeal. The card entails an annual fee of Rs. 500. Conversely, SBI Card’s Simply Save Credit Card is a notable counterpart, featuring an impressive reward rate, particularly advantageous for dining transactions. It extends additional benefits such as milestone perks, fuel surcharge waivers, and more, accompanied by a parallel annual fee of Rs. 499.

Features and Benefits of ICICI Coral Credit Card and SBI SimplySave Credit Card

ICICI Coral Credit Card:

  1. Card Variants: Offered in three different options, namely Visa, Mastercard, and AmEx.
  2. Annual Fee: Rs. 500, with diverse benefits.
  3. Travel Benefits:
    • Complimentary access to airport and railway lounges across India.
    • Quarterly railway lounge visits and domestic airport lounge access on spending Rs. 5000 in the last quarter.
  4. Reward Points:
    • 2,000 points on spending above Rs. 2 Lakhs.
    • 1,000 points for every Rs. 1 Lakh spent.
    • Maximum bonus reward points capped at 10,000 per year.
    • 2 points for every Rs. 100 spent; 1 point for utility and insurance transactions.
  5. Redemption: Points can be redeemed for cash or gifts.
  6. Culinary Treat Program: Offers a 15% discount at premium restaurants.
  7. Entertainment Benefits:
    • 25% discount or Rs. 100 off on at least two movie tickets via BookMyShow and INOX.
  8. Annual Fee Waiver: To avoid the annual fee, you need to spend more than Rs. 1.5 Lakhs in the preceding year.
  9. Fuel Surcharge Waiver: 1% waiver at all HPCL petrol stations for transactions up to Rs. 4,000.

SBI SimplySave Credit Card:

  1. Annual Fee: Rs. 499, an entry-level card from SBI.
  2. Welcome Benefit: 2,000 reward points worth Rs. 500 upon spending Rs. 2,000 within 60 days.
  3. Annual Fee Waiver: Investing an amount of Rs. 100,000 or above within the past twelve months.
  4. Reward Points:
    • 1 point for every transaction.
    • Earn ten times the points when you spend on dining, movies, department stores, and groceries.
  5. Milestone Benefits: Annual fee waiver available.
  6. Fuel Surcharge Waiver: 1% waiver at all fuel stations for transactions between Rs. 500 and Rs. 3,000, with a maximum waiver of Rs. 100 per month.
  7. Redemption: Reward points are versatile and can be exchanged for various benefits such as shopping discounts, vouchers, or even used to reduce your statement balance.

Contrasting ICICI’s Coral Credit Card with SBI’s SimplySave Credit Card

ICICI Coral Credit Card:

  • Reward Rate:
    • 2 Reward Points for every Rs. 100 spent (except fuel).
    • 1 Reward Point for every Rs. 100 spent on utilities and insurance.
    • Earn 10 times the reward points for every Rs. 100 you spend on dining, watching movies, shopping at departmental stores, and purchasing groceries.
  • Reward Redemption:
    • Each reward point is valued at 25 paisa and can be exchanged for either cash or a gift.
  • Welcome Benefits:
    • No specific welcome benefits mentioned.
  • Milestone Benefits:
    • Earn 2,000 reward points by spending Rs 2 lakhs.
    • 1,000 bonus Reward Points for every Rs. 1 Lakh spend thereafter, capped at 10,000 Points per year.
  • Spend Based Annual Fee Waiver:
    • You won’t have to pay the yearly renewal fee if you spend at least Rs. 1.5 lakh in the previous membership year.
  • Fuel Surcharge Waiver:
    • 1% fuel surcharge waived at all HPCL petrol stations for transactions up to Rs 4,000.
  • Lounge Access:
    • Receive a free pass to railway lounges across India once every three months.
  • Dining Benefits:
    • 15% discount or more at premium restaurants through ICICI Bank’s Culinary Treats Program.

SBI SimplySave Credit Card:

  • Reward Rate:
    • 1 Reward Point for every Rs. 100 spent.
    • Earn ten times the reward points for each Rs. 100 spent on dining, movies, departmental stores, and grocery purchases.
  • Reward Redemption:
    • 1 Reward Point = Rs. 0.25, redeemable against shopping, gift vouchers, or card statement balance.
  • Welcome Benefits:
    • Get a bonus of 2,000 Reward Points valued at Rs. 500 when you spend Rs. 2,000 within 60 days from activating your card.
  • Milestone Benefits:
    • No specific milestone benefits mentioned.
  • Spend Based Annual Fee Waiver:
    • You won’t have to pay the yearly renewal fee if you’ve spent at least Rs. 1 lakh in the previous membership year.
  • Fuel Surcharge Waiver:
    • 1% fuel surcharge waived for transactions between Rs. 500 and Rs. 3,000, capped at Rs. 100 per statement cycle.
  • Lounge Access:
    • 1 complimentary airport lounge access every quarter on spending Rs. 5000 in the previous quarter.
  • Dining Benefits:
    • No specific dining benefits mentioned.

Which credit card suits you best?

  1. Understanding Both Cards:
    • An examination of the features and benefits offered by the SBI Simply Save Credit Card and the ICICI Coral Credit Card.
    • Insight into their offerings, features, and charges.
  2. Comparable Annual Pricing:
    • Both cards share the same annual pricing.
  3. Significant Differences:
    • Although priced similarly, significant differences distinguish one card from the other.
  4. SBI Simply Save Credit Card Highlights:
    • Significant reward rates, especially providing a tenfold increase in reward points for certain categories.
    • Introducing a special offer: Gain 2,000 Bonus Reward Points with your first purchase!
  5. ICICI Coral Credit Card Advantages:
    • Surpassing the Simply Save card are myriad extra advantages.
    • Includes complimentary lounge access, dining perks, and entertainment benefits.
    • Milestone benefits in the form of reward points.

Frequently Asked Questions (FAQs)

1. What sets apart the ICICI Coral Credit Card from the SBI SimplySave Credit Card?

  • Discover the unique characteristics, advantages, and fees that differentiate these two credit cards.

2. Is the annual pricing the same for both ICICI Coral Credit Card and SBI SimplySave Credit Card?

  • Gain an understanding of the financial impact and potential differences in the yearly charges associated with these credit cards.

3. What reward points structure does the SBI SimplySave Credit Card offer, and how does it compare to ICICI Coral Credit Card’s rewards program?

  • Explore the intricacies of reward rates, bonus point systems, and any distinctive features associated with loyalty programs.

4. What distinct advantages does the SBI SimplySave Credit Card offer compared to the ICICI Coral Credit Card in terms of welcome benefits?

  • Learn about any introductory perks, welcome offers, or bonus rewards tied to initial spending on these credit cards.

5. Can you highlight the additional benefits provided by ICICI Coral Credit Card in terms of lounge access, dining perks, and entertainment benefits?

  • Explore the supplementary advantages beyond basic features, specifically focusing on ICICI Coral Credit Card.

6. Do both credit cards offer milestone benefits, and how do they differ in this aspect?

  • Discover whether there are milestone perks or advantages linked to expenditure thresholds on either the ICICI Coral Credit Card or the SBI SimplySave Credit Card.

7. Which card is more suitable for frequent travelers – ICICI Coral Credit Card or SBI SimplySave Credit Card?

  • Evaluate the travel-related benefits, including lounge access and other perks, to determine the ideal card for frequent travelers.

8. Do certain types of cards outperform others in terms of the rewards or perks they offer within particular categories?

  • Analyze whether there are specific spending categories where either the ICICI Coral Credit Card or the SBI SimplySave Credit Card offers better benefits.

9. How can I maximize the benefits of either credit card based on my spending habits and preferences?

  • Gain insights into strategies for optimizing the utility of these credit cards according to individual spending patterns.

10. Are there any hidden fees or charges associated with ICICI Coral Credit Card and SBI SimplySave Credit Card that I should be aware of?

  • Be informed about any undisclosed fees, charges, or terms that might impact the overall cost of using these credit cards.

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