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Credit cards are a convenient to make payments when you are travelling outside the country. You can swipe your card at a merchant and make the payment instantly. However, your card issuer will charge forex markup charges and other fees whenever you make foreign currency spends with your card.
For individuals who travel a lot throughout the year, the amount of extra charges add up and now they also have to pay a 20% TCS if the international spends are above Rs. 7 Lakhs in a year. ICICI Bank has launched an offer where you can earn an exclusive cashback of Rs. 2023 on your foreign currency spends made with an ICICI Bank Visa credit card.
The offer is perfect for businessmen and regular travellers who make a high amount of foreign currency transactions with their card in an year. Keep reading to know about the offer details and other information related to it.
Exclusive Cashback on Foreign Spends with ICICI Bank Visa Credit Cards – Offer Details
The offer period extends from 22nd May 2023 to 22nd August 2023 and is applicable only on ICICI Bank Visa credit cards. You can earn cashback of Rs. 2023 on spending $2023 or its equivalent in a foreign currency using your ICICI Visa credit card. The spends must be made outside India and only the first 2546 ICICI Bank Visa consumer credit card holders will be eligible for the cashback.
The cardholder must posses a valid credit card that was issued in India and all spends done at POS merchant outlets in foreign currency outside India will be considered for the cashback offer.
Offer Terms and Conditions
The following terms and conditions apply to the cashback offer –
- The offer is applicable to Indians holding a valid ICICI Bank Visa credit card using it outside India.
- The offer period extends from 22ndMay 2023 to 22nd August 2023.
- All POS transactions in foreign currency outside India with the credit card are eligible for the offer.
- Cardholders must spend a minimum $2023 or its equivalent in a foreign currency to receive the maximum cashback of Rs. 2023.
- Only the first 2546 ICICI Visa credit cardholders will earn the cashback.
- The cashback amount will be credited to the cardholder’s account inside 90 days of the offer ending date.
Bottom Line
The cashback offer on ICICI Bank Visa credit cards is a welcome one for individuals who regularly make foreign currency spends with their card and have to pay high forex markup and other fees. You can earn Rs. 2023 as cashback on spending $2023 or its equivalent in foreign currency, as stated above.
A similar offer was recently launched by Axis Bank on Visa credit cards which also offers exclusive cashback on foreign spends. If you are planning to travel abroad soon, then this offer will be really beneficial for you and you can save money on your trip. Just make sure you keep the offer terms and conditions in mind.
