The Gemstone collection from ICICI Bank includes five credit cards: Coral, Rubyx, Sapphiro, Emeralde and Diamant. The Coral card is the entry-level card, while the Diamant card (invite only) is the highest level. The ICICI Bank Coral credit card has a joining fee and annual fee of Rs 500+GST, but is usually issued lifetime free. You can expect a return of between 0.25 and 0.5% on your purchases. Among the benefits of the ICICI Bank Coral credit card are complimentary access to railway and airport lounges and a waiver of fuel surcharges.
Fees
ICICI Bank Coral Credit Card is issued LTF in most cases for existing ICICI Bank savings account customers. If you are an ICICI Bank customer, check the ‘Cards & Forex’ section of iMobile app to check if you have a pre-approved offer for Lifetime Free Coral Rupay credit card.
Joining Fee | Rs 500+GST / Zero |
Annual Fee | Rs 500+GST / Zero |
Annual Fee Waiver | Rs 1.5 Lakh Spend |
Rewards
With the exception of Amazon Pay ICICI Bank credit card, most ICICI Bank credit cards have one of the lowest reward rates when compared with other issuers. The USP has always been their merchant offers. Be it a sale on Amazon or Flipkart, you will always see ICICI Bank credit cards offering 10% instant discount. The same goes for offline offers too, we get some of the best EMI and discount offers.
Type of Spend | Rewards | Return |
---|---|---|
Domestic Spends | 2 RP/Rs 100 | 0.5% |
Utilities and Insurance Spends | 1 RP/Rs 100 | 0.25% |
Fuel Spends | No Rewards | NIL |
Milestone Rewards
- 2000 RP on spending Rs 2 Lakh in a membership year ~0.25% return
- 1000 RP on every Rs 1 Lakh spend after crossing Rs 2 Lakh milestone above ~0.25% return
- Maximum 10000 bonus RP can be earned in a year
Including the milestone rewards, the maximum return on the ICICI Bank Coral credit card will be 0.75%.
Rewards Redemption
ICICI Bank has now stopped with Payback reward points and switched to its own system. Now, we get ‘ICICI Bank Reward Points’. The value of each reward point stays at 25 paise. We get multiple categories for redeeming the reward points.
- Fashion and Lifestyle catalog
- Electronics products
- Travel and Luggage catalog
- E-Vouchers
- Home and Kitchen products
Given the reward value, e-vouchers are the only good choice. Tanishq, Kalyan Jewellers, Jockey, Marriott and Croma are some of the good options in e-vouchers. We also have e-commerce GVs like Amazon, Flipkart, and Tata CliQ.
Complimentary Airport Lounge Access
- Domestic Airport Lounge Access: 1 complimentary visit per quarter. The pre-requisite to get the complimentary visits is to spend Rs 5000 in the previous calendar quarter. Check this list to see list of eligible lounges for complimentary access with ICICI Bank Coral credit card.
- International Airport Lounge Access: Not Available
Complimentary Railway Lounge Access
- Railway Lounge Access: 1 complimentary visit per calendar quarter
The access is valid only for the primary cardholder. At the moment, only below railway lounges can be access with ICICI Bank Coral credit card.
- Delhi – Executive Railway Lounge
- Agra – Executive Railway Lounge
- Jaipur – Executive Railway Lounge
- Ahmedabad – Executive Railway Lounge
- Madurai – Executive Railway Lounge
- Kolkata (Sealdah) – Executive Railway Lounge
BookMyShow and Inox Offer
- Book My Show: 25% discount up to Rs 100 on purchase of minimum 2 movie tickets per transaction on BookMyShow and Inox.
- The offer can be availed twice a month on each BookMyShow and Inox.
Other Key Benefits and Charges
- Foreign Currency Transactions Markup: 3.5%+GST ~4.13%
- Rent Pay Transactions Fee: 1%+GST ~1.18%
- Reward Redemption Fee: Rs 99+GST ~Rs 117
- Fuel Surcharge Waiver: 1% waiver for transactions from Rs 400 to Rs 4000. This is only available on fuel purchases at HPCL petrol pumps when the card is swiped on the ICICI Merchant Services swipe machine.
- Interest Rates: 3.4% monthly or 40.8% annually
Final Thoughts
ICICI Bank is one of the top 3 credit card issuers in India. One may find it surprising considering the rewards on ICICI Bank credit cards in comparison to other issuers like SBI Card or HDFC Bank. But, ICICI Bank has always been good in merchant offers with e-commerce and offline players. This is what makes it worthwhile to hold ICICI Bank Coral credit card especially if you get it as Lifetime Free.
The other advantage of taking the Coral is you can now use it for UPI spends with Rupay variant. We will get 0.5% benefit on UPI spends which is still decent. Spending Rs 5000 in a calendar quarter with Rupay on UPI is also relatively easier. This will also get you complimentary domestic airport lounge visits.
Frequently Asked Questions
Yes, we get complimentary airport lounge access subject to spends of Rs 5000 in the previous calendar quarter.
ICICI Bank Coral Credit Card
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2 thoughts on “ICICI Bank Coral Credit Card”
Hi
Will fuel surcharge be applicable if we pay using UPI-QR at fuel stations?
Yes