By Uday Devgan
Updated On June 28, 2022

ICICI Bank Business Advantage Black Card is a business card offered by the ICICI bank which lets the user to save more with great cashback on all business expenses incurred by them. The business card offers cashback on your recurring business expenses like air travel, professional services, car rentals, and much more. The card has been designed keeping in mind the security of the card and is powered by Visa PayWave contactless technology, enabling you to make fast, convenient, and secure payments at retail outlets. It just requires you to simply tap your card wherever contactless payments are accepted, in more than 48 countries across the world.

Apart from that, Business Advantage Black Card offers many great benefits like minimum 15% savings with ICICI Bank Culinary Treats Programme, many insurance benefit covers like personal air accident death insurance cover of up to Rs 75 lakh, 2 complimentary access per quarter at select Airport Lounges and much more. The card offers cashback that depends upon the statement balance, therefore the more you spend, the more you will receive as a cashback. It provides 1% cashback on both domestic and international expenses.

The card is very beneficial for Small and Medium Enterprises (SMEs) as it offers great deals on product subscriptions like DocuSign, Evernote, Awfis, Amazon Web Services, and Airtel business plans.

Read on to learn more about the ICICI Bank Business Advantage Black Card.

(4.5/5)

Best Suited For

Travel | Shopping |

Joining Fee

Rs. 1,500 (plus applicable taxes)

Reward Type

Cashback |

Product Details

  • Get up to 1% Cashbacks every month on every eligible spends, Maximum up to Rs. 2,000.
  • 5% savings on dining spends at select partners under ICICI Bank Culinary Treats Programme.
  • Make fast, convenient and secure payments at retail outlets with Visa payWave contactless technology.
  • Enjoy the 24×7 concierge service on your ICICI Bank Business Advantage Black Card for all your needs.
  • Get Fuel surcharge waiver of up to 1% on transaction value on HPCL petrol pumps, (capped at Rs. 500 per month)
  • Enjoy up to 48 days of interest-free credit on Business Advantage Black Card for your business expenses.
  • Use your Business Advantage Black Card to make utility bill payments from the comfort of your office or home.
  • Get a minimum discount of 15% on your dining bill at over 2500+ restaurants with the  ICICI Bank Culinary Treats programme.

Rewards and Benefits

Welcome Benefits

NA

Movie & Dining

Minimum discount of 15% on your dining bill at over 2500+ restaurants through ICICI Bank Culinary Treats Programme.

Rewards Rate

Cashback every month up to 1% on every eligible spends.

Reward Redemption

Cashbacks depends upon the statement balance, the more you spend more cashback you earn. Cashbacks are directly added to the account.

Travel

NA

Golf

NA

Domestic Lounge Access

Get 2 complimentary access per quarter at select Airport Lounges.

International Lounge Access

NA

Insurance Benefits

The card is equipped to compensate for the uncertainties associated with your business travel. It offers personal air accident death insurance cover of up to 75 lacs and many other benefits.

Zero Liability Protection

The bank provides protection to its customer in case of loss or theft of credit card if reported within a stipulated time provided by the bank.

Fees & Charges

Joining Fee

Rs. 1,500 (plus applicable taxes)

Renewal Fee

No Annual fee for the 1st year, Annual fees of Rs. 1,500 (plus applicable taxes) from 2nd year.

Spend based Waiver

Joining fee Fee waived off if eligible spends is greater than ₹75,000 within 60 days of card setup and Renewal fee waived off  if eligible spends is greater than ₹7,50,000 in an anniversary year.

Rewards Redemption Fee

Nil

Rewards Redemption Fee

Nil

Foreign Currency Markup

3.5% of the transaction amount

Interest Rates

3.0% per month (36.0% per annum)

Fuel Surcharge

Fuel surcharge waiver of up to 1% on transaction value on HPCL petrol pumps, (capped at Rs. 500 per month)

Cash Advance Charge

2.5% of the transaction amount or subject to a minimum fee of Rs.300

Add-on Card Fee

Business cards do not offer personal card facilities like add-on cards.

ICICI Bank Business Advantage Black Card Features and Benefits

ICICI Bank Business Advantage Black Card offers great deals and benefits for your every business expense. This exclusive card helps you to drive your businesses safely. Some of the most important features of this card are mentioned below:

Travel Benefits

ICICI Business Advantage Black Card provides complimentary access to Airport Lounge in India. The cardholder gets 2 complimentary access per quarter at select Airport Lounges in India.

Dining Benefits

Get a minimum discount of 15% on your dining bill at over 2500+ restaurants spread across 11 cities with the ICICI Bank Culinary Treats program with ICICI Business Advantage Black Card.

Insurance Benefits

ICICI Business Advantage Black Card is also equipped to compensate for some of the uncertainties associated with any of your business travel. It provides for your Personal air and non-air death cover, medical expenses and much more.

Insurance cover description Cover amount
Personal accidental death (Air accident) Rs. 75 lakh
Personal accidental death (Non-air) Rs. 500,000
Medical expenses for bodily injury arising out of accident Rs. 100,000
Credit shield (in case of accidental death) Rs. 50,000
Baggage insurance Up to Rs. 25,000

Read about more insurance benefits on the ICICI Bank’s website. All the benefits mentioned above are subject to terms and conditions levied by the ICICI Bank, read all terms and conditions carefully.

Concierge Services

ICICI Business Advantage Black Card provides a 24×7 concierge service that takes care of your every need. These services include Restaurant referral and reservation, Car rental and limousine service, Medical concierge privileges, and much more.

Fuel Surcharge Waiver

The card offers a Fuel surcharge waiver of up to 1% on transaction value on HPCL petrol pumps (capped at Rs. 500 per month). Do note this offer is valid on a maximum Transaction of ₹5,000 when swiping the card on ICICI Bank swipe machines.

Joining/Renewal fee waiver

First Year Fee is waived off if eligible spends are greater than ₹75,000 within 60 days of card setup and on the other hand, the Renewal fee is waived off if eligible spends are greater than ₹7,50,000 in an anniversary year. The Renewal fees will be applicable starting from the 2nd year as the card does not charge the annual fees for the 1st year.

Zero Liability protection

The ICICI Bank Business Advantage Black Card provides a protective cover to its customers in case of loss or theft if it is reported within a stipulated time period. In case of loss/theft/misuse of the Card, it must be reported immediately to the ICICI Bank officials. The cardholder shall not be liable for any transaction made on the Card post reporting its loss/theft/damage to the bank.

ICICI Business Advantage Black Card Cashback Benefits

ICICI Bank Business Advantage Black Card lets you earn Cashback based on your spends. Therefore, the more you spend the higher cashback you get.

In case of statement balance above Rs. 75,000, the card offers cash back up to 1% on all eligible domestic and international spends each. If in case the statement balance falls between Rs. 25,000 and Rs. 75,000, then the card offers cashback of up to 0.5 on Domestic Spends and up to 1% on International Spends. Cashback earned in a month is subject to a maximum of ₹2,000 through eligible spends.

ICICI Business Advantage Black Card Fees & Charges

  • Joining Fee: ICICI Bank charges Rs. 1,500 as the joining fees for the ICICI Business Advantage Black Card.
  • Annual Fee: ICICI Bank charges an annual fee of Rs. 1,000 (plus applicable taxes) for ICICI Business Advantage Black Card. The Annual Fees is charged from the 2nd year as there is no Annual Fees for the 1st year.
  • Interest Rate: An interest rate of 3.00% per month or (36% annually) is applicable on the due amount on the card if the cardholder is unable to clear all the dues by the payment due date.
  • Forex Mark-up Fee: A foreign currency mark-up fee of 3.5% of the transaction amount is applicable on all foreign currency transactions made with ICICI Business Advantage Black Card.

ICICI Bank Business Advantage Black Credit Card Eligibility Criteria

The eligibility requirements that need to be fulfilled in order to get approved for the ICICI Bank Business Advantage Black Credit Card are as follows:

  • The applicant’s age should be above 21 years.
  • The applicant should own a business with a stable income.
  • The credit score of the applicant or the business credit score might also affect your eligibility for this card.

Documents Required

The documents required to apply for the ICICI Bank Business Advantage Black Credit Card are as follows:

  • Identity Proof: Aadhar Card, Voter’s Id, PAN Card, Passport, or Driving License of the applicant.
  • Address Proof: Utility bills (not older than three months), Aadhar Card, Passport, etc. The office address proof might also be required.
  • Other than the documents mentioned above, you will also need to submit business-related documents like audited ITR, business registration certificate, etc.

How To Apply For The ICICI Bank Business Advantage Black Credit Card?

You can apply for the Business Advantage Black Card online as well as offline as per your comfort. To apply offline, just visit the ICICI Bank branch nearest to you with all the required documents and apply for the card by filling in the physical application form. You can also apply online very easily as follows:

  • Visit the ICICI Bank’s official website.
  • Under the section ‘Cards,’ select ‘Commercial Cards’ and then Business Cards.
  • Choose the ICICI Bank Business Advantage Black Credit Card.
  • Click on Apply Now.
  • Fill in the required details and proceed further accordingly.

Conclusion

The ICICI Business Advantage Black Card is a great deal for those who incur business expenses on a daily basis as the card offers great cashback on the eligible spends. Also, the card offers many great benefits for Insurance Covers, a fuel surcharge waiver, and 2 complimentary domestic lounge access. The card also comes with 24X7 concierge privileges which bring a sense of premium card benefits. Another similar business card offered by the bank is the ICICI Bank Business Advantage Blue Credit Card, which is very much comparable to this one.

The Business Advantage Black card is best suited for Small and Medium enterprises that incur regular business expenses and as it offers great deals in many subscription products. This is the ICICI Bank Business Advantage Black Credit Card review from our side. Make sure to write your views on this card in the comment section below!

FAQs:

No, Business cards do not offer personal card facilities like balance transfer, EMI on call, merchant EMI on card, add-on card and personal loans.

Yes, ICICI Bank does provide a protection cover to its customers in case of loss or theft if it is reported with a stipulated time period. In case of loss/theft/misuse of the Card, it must be reported immediately to the ICICI Bank either through the Customer Care or Simply SMS CCBLK to 5676766 from your registered mobile number only.

ICICI offers up to a maximum of 50 days of interest-free credit period and 20 days from the statement date for the  Business Secured Card holders.

ICICI charges 3.0% on cash advances per month. Therefore, annually the interest charges on cash advances will be 36.0% per annum.

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