ICICI Bank Instant Platinum Credit Card

The ICICI Bank Instant Platinum Credit Card is a card that is backed by a fixed deposit, providing security. It comes with no renewal fees and offers Reward points for each purchase. Additionally, it offers fantastic dining and movie discounts, helping you save more in other areas, tailored to your needs.

Key Highlights of ICICI Bank Instant Platinum Credit Card

  1. Instant Issuance: As the name suggests, this card is instantly issued to eligible customers, providing quick access to credit.
  2. No Joining Fee: Cardholders typically do not need to pay a joining fee to obtain the card.
  3. Zero Annual Fee: There is often no annual fee associated with this credit card, making it cost-effective.
  4. Credit Limit: The credit limit is determined based on the applicant’s income and creditworthiness.
  5. Online Shopping: It can be used for online shopping and e-commerce transactions.
  6. Global Acceptance: Widely accepted in India and abroad, allowing for international transactions.
  7. Contactless Payment: The card may support contactless payments for convenience and security.
  8. EMV Chip: Enhanced security with an embedded EMV chip to protect against fraud.
  9. Interest-Free Period: Cardholders often enjoy an interest-free period on retail purchases when the previous month’s outstanding balance is paid in full.
  10. Savings and Discounts: Access to various discounts and offers from partner merchants.
  11. Add-On Cards: Supplementary cards can be issued to family members, allowing them to share the credit limit and benefits.

Features and Benefits of ICICI Bank Instant Platinum Credit Card

Launched with a host of valuable features and exciting advantages, the ICICI Bank Instant Platinum Credit Card is truly remarkable. Let’s delve into these features and benefits in detail:

  1. Instant Over-the-Counter Issuance: Applicants can simply walk into a branch and receive their ICICI Bank Instant Platinum Credit Card on the spot. All that’s required is a fixed deposit account.
  2. No Joining or Annual Fee: Cardholders are relieved from paying any joining or annual fees to acquire this card. As long as they maintain a valid fixed deposit account, they can obtain this card without any additional charges.
  3. Rewarding Payback Points: With each Rs. 100 spent using the card, cardholders earn 2 payback reward points. These points can be redeemed for enticing gifts from the bank’s catalog.
  4. Global Acceptance: This card is accepted at over 2 million locations worldwide and offers global emergency assistance.
  5. Low Interest Rate: Cardholders can capitalize on their fixed deposit’s interest and manage their liquidity using the ICICI Bank Instant Platinum Credit Card. The applicable interest rate is a mere 2.49% per month. However, timely payment of the outstanding balance eliminates the need for interest charges.
  6. Advanced Contactless Technology: The card is equipped with contactless technology, enhancing security against credit card fraud and duplication.
  7. Dining Savings: Cardholders can enjoy a 15% discount at over 800 top restaurants nationwide. This card is part of ICICI Bank’s culinary delights program.
  8. Fuel Surcharge Waiver: Cardholders can benefit from a 1% fuel surcharge waiver on transactions up to Rs. 4,000 at HPCL pumps. Simply swipe the card on ICICI merchant services swiping machines.
  9. Appealing VISA Offers: Cardholders can access fantastic deals from VISA, offering opportunities to indulge in delicious cuisine and enjoy great deals at luxury hotels, restaurants, spas, lifestyle stores, and more.

ICICI Bank Instant Platinum Credit Card Fees and Charges

  • Spend-Based Waiver: Not Applicable (N/A)
  • Rewards Redemption Fee: Rs. 99 per request to redeem rewards.
  • Foreign Currency Markup: 3.5% added to all international transactions.
  • Interest Rates: Charged at a rate of 2.49% per month.
  • Fuel Surcharge: Enjoy a 1% waiver on fuel transactions up to Rs. 4,000.
  • Cash Advance Charges: Pay 2.5% of the cash amount withdrawn, with a minimum of Rs. 300.
  • Add-on Card Fee: No fee for add-on cards.

ICICI Bank Instant Platinum Credit Card Eligibility

  1. Initiate a fixed deposit of a minimum of Rs 20,000 with ICICI Bank.
  2. The ICICI Bank FD must have a minimum tenure of 180 days.

It’s essential to be aware that the card will not be issued in the following scenarios:

  • When the FD is registered in the name of third parties, HUF, societies, partnership firms, trusts, or companies.
  • If the FD is linked to Linked/Quantum/80C/NRO/NRE/HFC FDs, or if a lien is placed on the fixed deposit account.
  • In cases where the applicant is a minor or a foreign national.

Documents Required for ICICI Bank Instant Platinum Credit Card

To apply for an ICICI Bank Instant Platinum Credit Card, you typically need to provide the following documents:

1. Proof of Identity:

  • Passport
  • Aadhaar card
  • Voter ID
  • PAN card
  • Driver’s License
  • Any government-issued photo ID

2. Proof of Address:

  • Passport
  • Aadhaar card
  • Utility bills (electricity, water, gas, etc.) not older than 3 months
  • Rental/lease agreement
  • Bank account statement
  • Driver’s License

3. Proof of Income:

  • Salary slips (usually the most recent ones)
  • Bank statements (typically for the last 3 to 6 months)
  • Income Tax Returns (ITR) or Form 16

How to apply for ICICI Bank Instant Platinum Credit Card?

  1. Visit the bank’s website.
  2. Log in to your net banking account using your credentials.
  3. Navigate to the ‘Cards’ section and select ‘Instant Card.’
  4. Complete the required details.
  5. Explore multiple offers for the ICICI Instant Platinum card.
  6. Choose the offer that suits your needs best.
  7. Submit the form with the necessary documents.
  8. Your application will be processed, and the card will be delivered to your doorstep within a few days.

Frequently Asked Questions (FAQs)

1. What is the ICICI Bank Instant Platinum Credit Card?

The ICICI Bank Instant Platinum Credit Card is a credit card that offers instant approval and is designed to provide a range of benefits and privileges to cardholders.

2. How can I apply for the ICICI Bank Instant Platinum Credit Card?

You can apply for the ICICI Bank Instant Platinum Credit Card online through the official website of ICICI Bank. The application process is quick and straightforward.

3. What are the key features of the Instant Platinum Credit Card?

The key features include instant approval, no annual fee, fuel surcharge waiver, and access to a variety of discounts and offers on dining, shopping, and more.

4. Is there an annual fee for the ICICI Bank Instant Platinum Credit Card?

No, the ICICI Bank Instant Platinum Credit Card typically comes with no annual fee, making it a cost-effective choice for users.

5. How quickly will I receive my ICICI Bank Instant Platinum Credit Card after approval?

Once your application is approved, you can expect to receive your Instant Platinum Credit Card within a few working days. The exact timeframe may vary.

6. What is the credit limit offered on the Instant Platinum Credit Card?

The credit limit is determined based on your creditworthiness and financial profile. The approved credit limit will be communicated to you upon approval.

7. Can I convert purchases made with the Instant Platinum Credit Card into EMIs?

Yes, ICICI Bank often provides the option to convert high-value purchases into easy monthly installments (EMIs) using the Instant Platinum Credit Card. Terms and conditions apply.

8. Are there any rewards or cashback benefits with this credit card?

The Instant Platinum Credit Card may come with certain rewards or cashback benefits on specific transactions. It’s recommended to check the latest terms and conditions for the most up-to-date information.

9. How can I track my credit card transactions and statements?

ICICI Bank provides online banking facilities and a mobile app where you can easily track your credit card transactions, check statements, and manage your account.

10. Is there a grace period for the repayment of the credit card dues?
Yes, there is typically a grace period during which you can make the payment without incurring any interest. The specific grace period and terms may be mentioned in the credit card agreement.

11. Can I use the Instant Platinum Credit Card internationally?
Yes, you can use the ICICI Bank Instant Platinum Credit Card for international transactions. However, it’s advisable to inform the bank about your travel plans to avoid any inconvenience.

12. How can I contact customer support for queries related to my Instant Platinum Credit Card?
You can contact ICICI Bank customer support through their helpline or visit the nearest branch. Additionally, online chat and email support options may be available.