ICICI Bank has changed its credit card terms (Credit Card New Rules), which will be implemented on November 15. The new terms increase the required spending amount for airport lounge access. Many other changes have been made, including add-on charges for supplementary cardholders. A look at the major changes made by the bank in the credit card:
Rules For Airport Lounge Access
ICICI Bank credit card holders will now have to spend Rs 75,000 from their card in a quarter to get complimentary airport lounge access. Earlier, complimentary airport lounge access was available for shopping at Rs 35,000 a quarter.
The new spending limit to avail of complimentary domestic airport lounge access will apply to several ICICI Bank credit cards, including the
ICICI Bank HPCL Super Saver Visa Credit Card
ICICI Bank Mastercard Coral Credit Card
ICICI Bank Rubyx Visa Credit Card
ICICI Bank Sapphiro Visa Credit Card
ICICI Bank Adani One Signature Credit Card
MakeMyTrip ICICI Bank Platinum Credit Card
Rules For Utility and Insurance Payment Transactions
Currently, cardholders get reward points on utility and insurance payment transactions. Now, there will be a cap on the rewards earned from these transactions. Premium credit card holders (ICICI Bank Rubix Visa, Sapphiro Visa, Emerald Visa, and others) will earn reward points on monthly spending of up to Rs 80,000 on utility and insurance. The limit has been fixed at Rs 40,000 per month for all other cards.
Rules For Grocery and Departmental Store Spending
Premium credit card holders (ICICI Bank Rubix Visa, Sapphiro Visa, Emerald Visa, and others) can earn reward points on monthly grocery spending of up to Rs 40,000. The limit has been raised to Rs 20,000 monthly for all other cards.
Rules For Fuel Surcharge Waiver
ICICI Bank has changed its fuel surcharge waiver policy for credit card holders. The bank will waive fuel surcharge on transactions up to Rs 50,000 per month for its entire credit card portfolio. This waiver limit has been increased to Rs 1 lakh monthly for the exclusive Emerald Mastercard Metal Credit Card.
These Payments Will Not Be Included In The Spending Threshold
The spending threshold for annual fee reversal and milestone benefits will not include rent, government and education payments made through credit cards. This change will apply to all bank credit cards. The annual fee reversal limit for ICICI Emerald and Emerald Private Metal Credit Cards has been reduced from Rs 15 lakh to Rs 10 lakh per annum.
The Spa Facility Available At Airport Discontinued
The spa facility offered through the DreamFolks card is being discontinued. This facility was also available on the ICICI Bank Saphiro Visa Credit Card, ICICI Bank Emerald Credit Card, ICICI Bank Adani One Signature Credit Card, Emirates ICICI Bank Emerald Credit Card, and others.
Fees For Supplementary Card Holders
The bank has introduced an annual fee of Rs 199 for supplementary card holders. This fee will be added to the card anniversary month statement.
1% charge for using third-party payment apps for educational and utility transactions.
Educational payments using ICICI Bank credit cards through third-party payment apps like CRED, Paytm, Cheq, and MobiKwik will also attract a 1% charge on the transaction amount. However, if you make educational transactions using ICICI Bank credit cards through college or school websites or their POS machines, there will be no charge.
Apart from this, ICICI Bank will levy a surcharge of 1% on the transaction amount for utility payment transactions of more than Rs 50,000 in a month through its credit cards.
