ICICI bank credit card rules changing from January 15; cardholders must know THESE rewards, fees, benefits

If cardholders want to avail the offers from BookMyShow, they must spend at least Rs. 25,000 in the prior quarter. Scroll down to see all the details.

The ICICI Bank has announced some latest changes to the rewards structure of its credit card. Not only rewards, but the bank has also announced updates to the benefits and charges. The new rules will be effective from January 15, i.e., Thursday, under which all credit cards will not be affected. However, if you’re using select ICICI credit cards, you must know the new updates, which impact the reward eligibility, add-on cards, foreign spending, and everyday transactions.

New changes in reward points and card benefits

The rule of reward points will not be changing for some premium cards. To exemplify this, the holders of Emeralde Metal Credit Card will keep earning 6 reward points for each Rs. 200 they spend on their retail transactions. Now, there’s a special point to note here. If you’re spending on fuel, government-related services, tax payments, property management, and third-party wallets, you will not earn any rewards.

In addition, the perks of entertainment too have been imposed with some conditions. If you want to avail the offers from BookMyShow, the cardholders who are eligible must spend at least Rs. 25,000 in the prior quarter. The eligibility of spending will be done once every three months.

One-time fee of Rs. 3,500

The ICICI Bank has come up with a one-time fee of Rs. 3,500 for the add-on credit cards, which are issued on January 15 and later. This is for the cardholders of Emeralde Metal, who look for additional cards for family members. Now, the bill payments of cash at the branches of ICICI will also become costlier as the fee has been increased from Rs. 100 to Rs. 150.

What will be affected?

The charges for currency conversion have been revised. They will now be different for every card type. The fee for premium cards like Times Black will be 1.49 per cent. On the other hand, the fee for cards like Emeralde Metal, Emeralde and Emeralde Private will be 2 per cent. Other cards of the bank may experience a surge in fees of up to 3.5 per cent.

The latest charges apply to the digital transactions as well. Now, the payments done on gaming platforms like Dream11, MPL and Rummy Culture will be 2 per cent.