Since RBI imposed restrictions on MasterCard from onboarding new credit card customers, most card issuers that were earlier issuing credit cards on the MasterCard or American Express networks have partnered with Visa for issuing new credit cards.
ICICI Bank used to issue two of its most popular credit cards from its gemstone collection- ICICI Rubyx Credit Card and ICICI Sapphiro Credit Card on MasterCard and American Express payment platforms. The bank has now also launched the Visa variant of these credit cards.
ICICI Bank Rubyx Visa Credit Card
Just like the MasterCard and American Express variants, ICICI Bank Visa Bank Rubyx Credit Card also comes with a joining fee of Rs. 3,000 and an annual renewal fee of Rs. 2,000. However, one major difference between the recently launched Visa variant and the older American Express and MasterCard variants is that you earn Rewards as PAYBACK Points on the Visa variant of the card, while earlier you used to get hand-picked rewards on the ICICI Bank Rubyx Credit Card. Some of the key features of the ICICI Bank Rubyx Credit Card are as under-
- 4 PAYBACK Points per Rs. 100 on international spends, 2 PAYBACK Points per Rs. 100 on domestic spends, 1 PAYBACK Point per Rs. 100 on fuel and utility spends.
- A welcome shopping and travel voucher on the realization of the joining fee of the card.
- 1,500 PAYBACK Points on spending Rs. 1 lakh and 3,000 PAYBACK Points on the expenditure of Rs. 3 lakh in a membership year as milestone benefits.
- 2 complimentary rounds of golf every month at the golf course of your choice across India.
- 2 complimentary lounge access per quarter at select airports across India on the expenditure of a minimum of Rs. 5,000 in the previous quarter.
- 25% discount up to Rs. 150 on the purchase a of a minimum of 2 movie tickets on BookMyShow or Inox (benefit applicable maximum twice in a month).
ICICI Bank Sapphiro Visa Credit Card
ICICI Bank used to offer the ICICI Bank Visa Sappphiro Credit Card, which was later discontinued. Now, the bank has relaunched ICICI Visa Sapphito Credit Card as neither of MasterCard and American Express are allowed to issue new credit cards to domestic customers. The new Visa variant comes with a joining fee of Rs. 3,500 and an annual renewal fee of Rs. 6,500 second year onwards. Some of the salient features of the new ICICI Bank Visa Credit Card are as follows-
- Joining benefits including travel and shopping welcome vouchers (including vouchers from TataCliQ, Croma, Uber, EaseMyTrip, Zomato Pro and Uber).
- 2 PAYBACK Points per Rs. 100 on domestic spends and 4 PAYBACK Points per Rs 100 on international spends.
- 1 complimentary domestic airport lounge access every quarter on spending a minimum of Rs. 5,000 in the previous quarter.
- 1 complimentary IRCTC lounge access each quarter.
- Complimentary Dreamfolks lounge access program membership with 2 international airport lounge and spa access every year.
- 1 complimentary round of golf for every Rs. 50,000 spent in the previous year.
- Up to Rs. 500 discount on tickets booked on BookMyShow (benefit applicable max twice in a month).
- Discount on dining bills at partner restaurants under the bank’s Culinary Treats program.
- 24×7 concierge service and a comprehensive insurance cover including a personal air accident insurance worth Rs. 3 crore.
Although ICICI Bank is now offering the Rubyx and Sapphiro Credit Cards on the Visa payment platform, the most premium offering by the bank- the Emeralde Credit Card is still offered on MasterCard and American Express networks only. We expect a similar relaunch of the Emeralde Credit Card as well, hopefully with a better reward rate and other complimentary benefits. Other card issuers that are still stuck with the American Express or MasterCard variants of their credit cards are also expected to launch the Visa variants of their cards very soon.