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Federal BankOne of the largest private sector banks in India, ICICI Bank has crores of credit card users in India. The bank has multiple types of cards in their portfolio ranging from movies, shopping, dining, etc. suitable for high net-worth as well as new-to-credit users. Most businessmen and wealthy people regularly visit abroad and make foreign spends with their credit cards.
ICICI Bank and all other card issuers charge a forex markup fee whenever someone makes transactions in foreign currency using their credit card. No doubt, it becomes quite convenient to just swipe your credit card for payments when you are travelling abroad, the extra forex markup charges can amount to a lot over a certain period of time. Usually, card issuers charge a 3-3.5% of the transaction amount as forex markup fee.
You should definitely look for a credit card with low forex markup charges if you are someone who regularly visits foreign countries or make online spends in foreign currencies. In this article, we will read about the forex markup fees of the top ICICI Bank credit cards.
Table of Contents
Forex Markup Charges of ICICI Bank Credit Cards
Let’s know more about the forex markup charges on some of the top ICICI Bank credit cards –
Fees
Joining Fee
Rs. 1,000 + Taxes for monthly plan, Rs. 12,000 + taxes for annual plan
Renewal Fee
Rs. 1,000 (plus applicable taxes) for monthly plan, Rs. 12,000 (plus applicable taxes) for annual plan
Best Suited For
Movies
Reward Type
Reward Points
Welcome Benefits
N/A
Card Details +
One of the most super-premium offering by ICICI Bank, the Emeralde credit card is meant for high net-worth individuals who travel a lot and live a lavish lifestyle. It comes at either Rs. 1000 monthly or Rs. 12,000 annual fee. The card has many exclusive travel privileges including unlimited airport lounge access, 24*7 concierge services, air accident cover, and more. Another great benefit is that the card charges a low forex markup fee of 1.5% on international currency spends and no cash withdrawal charges as well.
- Rs. 5000 worth Tata Cliq voucher redeemable on their website for your birthday
- Up to 4 reward points per Rs. 100 spent with the card
- Unlimited international and domestic lounge access with complimentary spa access
- Up to Rs. 750 discount on BookMyShow movie tickets onwards of the second ticket
- Complimentary golf round on spending more than Rs. 50,000 in the last month
- Refund of cancellation fees up to Rs. 12,000 on flight/hotel bookings twice per year
- Low forex markup charges of 1.5% and no cash withdrawal fee
Fees
Joining Fee
Rs. 6,500 (plus applicable taxes)
Renewal Fee
Rs. 3,500 (plus applicable taxes)
Best Suited For
Travel
Reward Type
Reward Points
Welcome Benefits
Exclusive travel & shopping gift vouchers worth more than Rs. 9,000 (From Tata CliQ, EaseMyTrip, Uber, Zomato Pro, Croma) with the Visa & Mastercard variants and get an extra cashback of Rs. 750 on spending Rs 20,000 within 60 days of issuance with the AmEx variant.
Card Details +
Another premium credit card by ICICI Bank, the Sapphiro credit card comes at a joining fee of Rs. 6500 and is available in the American Express, Mastercard, and Visa variant. The card is ideal for frequent travellers and is packed with attractive offers and other user-friendly privileges. The welcome benefits you get are more valuable than the joining fee and the card rewards you for all spends made with ICICI Reward Points. Also, the card has a forex markup fee of 3.5%
- Welcome benefits worth more than Rs. 9000
- 4 reward points per Rs. 100 spent on international and 2 reward points per Rs. 100 on domestic spends
- 1 RP per Rs. 100 spent on utility bills and insurance
- Bonus 20,000 RPs with the Milestone Reward program per year
- BOGO offer on BookMyShow movie tickets
- Up to 4 Complimentary golf rounds per month
- Complimentary domestic and international lounge access and spa access at select airports
Fees
Joining Fee
Rs. 3,000 (plus applicable taxes)
Renewal Fee
Rs. 2,000 (plus applicable taxes)
Best Suited For
Travel
Reward Type
Reward Points
Welcome Benefits
Travel & shopping vouchers worth over Rs. 5,000
Card Details +
The Rubyx credit card by ICICI Bank is the first dual platinum card in the country and offers a host of privileges and benefits to the cardholders. The card has a Rs. 3000 joining fee and offers shopping and travel vouchers worth Rs. 5000 as welcome benefits. You get access to various lifestyle benefits including dining discounts, movie ticket discounts, and complimentary lounge access. The forex markup charges on the card are 3.5% and you can even get the renewal fee waived off on reaching the target spend amount.
- Shopping and travel vouchers worth Rs. 5000 as welcome benefits
- 2 RPs per Rs. 100 spent and 4 RPs per Rs. 100 on international spends
- 1 RP per Rs. 100 spent on insurance and utility bills
- Up to 25% discount on booking at least 2 movie tickets on Inox or BookMyShow in a single transaction
- Exclusive dining benefits under the ICICI Bank Culinary Treats program
- 2 complimentary railway lounge and 1 domestic airport lounge access per quarter on spending at least Rs. 5000 in the last quarter
- Complimentary golf round on spending Rs. 50,000 or more in the last month
- 24*7 concierge service
- 3.5% forex markup fee on international currency spends
Fees
Joining Fee
Rs 500 (plus applicable taxes)
Renewal Fee
Rs 500 (plus applicable taxes)
Best Suited For
Movies
Reward Type
Reward Points
Welcome Benefits
N/A
Card Details +
The ICICI Bank Coral credit card charges a joining fee of Rs. 500 and is packed with exclusive offers across entertainment, dining, and travel for cardholders. You can choose one of the three card variants for yourself and earn up to 2 reward points per Rs. 100 spent with the card. You can earn bonus RPs on reaching the spend milestone, get access to airport lounges, movie ticket discounts, and more with the card. Also, the card has a forex markup fee of 3.5%.
- 2 RPs per Rs. 100 spent excluding fuel spends
- 1 RP per Rs. 100 spent on insurance and utility bills
- Bonus 10000 RPs per year with the Milestone Benefit program
- 1 Complimentary railway lounge and airport lounge access per quarter
- Up to 25% off on Inox and BookMyShow movie ticket bookings
- Exclusive dining benefits under the ICICI Bank Culinary Treats program
- Forex markup fee of 3.5% on international spends
Fees
Joining Fee
Nil
Renewal Fee
Nil
Best Suited For
Shopping
Reward Type
Reward Points
Welcome Benefits
NA
Card Details +
A co-branded credit card launched by ICICI Bank and Amazon, this card is on the Visa network and does not charge a joining fee from customers. It is among the best online shopping cards in the country and offers you with cashback that is credited to your Amazon Pay balance. Amazon Prime members get up to 5% cashback on Amazon purchases along with several other dining and other privileges. The card offers 1% fuel surcharge waiver and has a forex markup fee of 3.5%.
- Rs. 1500 worth welcome benefits and 3-month Amazon Prime membership
- Up to 5% cashback on Amazon purchases for Prime users and 3% for non-Prime users.
- 2% cashback on partner merchants and 1% cashback on other retail spends
- Reward points transferred as cashback to Amazon Pay balance
- Exclusive dining benefits under the Culinary Treats program
- 1% fuel surcharge waiver
- Forex markup fee of 3.5%
Fees
Joining Fee
Rs. 500 (plus GST)
Renewal Fee
Rs. 500 (plus GST)
Best Suited For
Fuel
Reward Type
Reward Points
Welcome Benefits
2,000 bonus Reward Points on paying the membership fee within 2 months and spending at least Rs. 5,000 within the first 45 days of card issuance; Rs. 100 cashback on HP Pay app on the first fuel purchase of Rs. 1,000 or more.
Card Details +
This fuel credit card is co-branded by HPCL and ICICI Bank and is available at a joining fee of Rs. 500. The HPCL Super Saver card is not limited to fuel rewards and has benefits across multiple categories. You can make up to 5% savings on your spends along with other privileges like complimentary lounge access, dining and movie discounts, and more. The card offers complimentary roadside assistance and 1% fuel surcharge waiver at HPCL outlets. It charges a forex markup fee of 3.5% on foreign spends.
- 2000 reward points as welcome benefit on paying the joining fee and spending Rs. 45,000 within 45 days of getting the card
- Rs. 100 cashback on making your first purchase via the HP Pay Wallet
- 5% savings on HPCL fuel spends and additional 1.5% cashback on using HP Pay app for transactions
- 5% back as reward points on grocery, departmental store, and utility bills
- 2 RPs per Rs. 100 spent elsewhere
- 24*7 complimentary roadside assistance
- Complimentary domestic lounge access
- Exclusive dining benefits through the Culinary Treats program
- Up to 25% discount on Inox and BookMyShow movie tickets
- Forex markup charges of 3.5% of the transaction amount
Fees
Joining Fee
NIL
Renewal Fee
NIL
Best Suited For
Dining
Reward Type
Reward Points
Welcome Benefits
N/A
Card Details +
Available at no joining fee, the ICICI Bank Platinum Chip credit card offers 2 reward points per Rs. 100 spent and gives you a chance to make savings on almost every spend category. The card provides dining discounts at various partner restaurants and 1% fuel surcharge waiver at HPCL fuel outlets. The reward points can be redeemed against several options that also include cashback. The Platinum Chip credit card has a forex markup fee of 3.5%.
- 2 RPs per Rs. 100 spent with the card on retail
- 1 RPs per Rs. 100 spent on utility bills and insurance
- Exclusive dining benefits at partner restaurants with the Culinary Treats program
- 1% fuel surcharge waiver at HPCL fuel outlets
- Forex markup fee of 3.5% of the transaction amount
Fees
Joining Fee
Nil
Renewal Fee
Nil
Best Suited For
Movies
Reward Type
Reward Points
Welcome Benefits
N/A
Card Details +
The Instant Platinum credit card by ICICI Bank is a secured card which you can get against a fixed deposit made with the bank. The card does not come with a joining fee and offers you reward points on multiple spend categories. Some other benefits you get with this card include a low interest rate, dining and movie benefits, fuel surcharge waiver, and more. The forex markup fee of the Instant Platinum credit card is 3.5% of the transaction amount.
- Secured credit card issued against a fixed deposit made with the bank
- 2 RPs per Rs. 100 spent excluding insurance, utility bills
- 1 RP per Rs. 100 spent on fuel
- Up to 15% discount at partner restaurants with the Culinary Treats program
- Up to 25% off on BookMyShow movie tickets when you book 2 tickets in a transaction
- 1% fuel surcharge waiver
- Forex markup fee of 3.5% of the total amount
When is the Forex Markup Fee Charged?
Whenever you travel to a foreign country and swipe your credit card at a merchant or make any online spends in foreign currency, you are charged an extra fee by your credit card network. On top of this, your credit card issuer adds extra charges and the total forex markup fee rises to around 3-3.5% of the total transaction amount. Some credit cards have a lower fee but most cards charge 3.5%.
You will also be charged a currency conversion for your foreign transaction by the merchant’s payment processor when you swipe your credit card. Thus, you have to pay a premium for all international spends with your credit card. For instance, if your card has a forex markup fee of 3.5% and you spend Rs. 1 Lakh in foreign currency, you will have to pay a total amount of Rs. 1,03,500.
To save money in the long run on your international transactions, you should definitely consider going for a credit card that has a lower forex markup fee.
Eligibility Criteria and Documents Required
Before you apply for credit cards by ICICI Bank, make sure you meet the following eligibility requirements –
- The applicant must be a citizen of India
- The applicant must be 21 to 60 years of age in case of salaried, and 21 to 65 years of age in case of self-employed
- The applicant must have a decent credit score.
- The applicant must have a stable source of income
The following documents must be provided when applying for the credit cards along with your latest photographs –
ID Proof – Aadhar Card, PAN Card, Driver’s License, Passport, etc.
Address Proof – Aadhar Card, Rent Agreement, Ration Card, Passport, Latest Utility Bills, etc.
Income Proof – Salaried individuals need to provide the latest months’ salary slips and bank statements. Self-employed individuals need to provide their audited ITR of the previous year.
How to Apply for ICICI Bank Credit Cards
Follow these steps to apply for ICICI Bank credit cards –
- Visit the official website of ICICI Bank.
- Hover your cursor on ‘Cards’ in the top menu and then click on ‘Credit Cards’.
- Narrow the search results based on your income and preferred card category.
- Click on Know More next to the card you want to apply for and go through its features, benefits, and other information.
- Click on Apply Now to submit your application. You will have to enter the required details and provide the necessary documents to submit the application.
Credit Cards Comparison
In the following table, we will compare some of the best ICICI Bank credit cards –
| Category | ICICI Bank Emeralde Credit Card | ICICI Bank Rubyx Credit Card | Amazon Pay ICICI Bank Credit Card | ICICI Bank Platinum Chip Credit Card |
| Joining/Annual Fee | Rs. 1000 monthly or Rs. 12,000 annually | Rs. 3000 | Nil | Nil |
| Welcome Benefit | NA | Shopping and travel vouchers worth Rs. 5000 | Get welcome benefits worth Rs. 1500 plus 3 months Amazon Prime membership | NA |
| Reward Earning | 4 RPs per Rs. 100 spent on all categories 1 RP per Rs. 100 spent on insurance and utility bills | 4 RPs per Rs. 100 on international spends 2 RPs per Rs. 100 on domestic spends 1 RP per Rs. 100 on utility and insurance | 5% cashback on Amazon purchases for Prime members and 3% cashback for Non-Prime members, 2% cashback on partner brands & 1% cashback on all other payments except fuel purchases | Earn 2 Reward Points for every Rs. 100 spent on retail transactions. Earn 1 Reward Point on every Rs. 100 spent on insurance & utilities. |
| Reward Redemption | The earned Reward Points can be redeemed against gifts or cash credit, where 1 Reward Point = Rs. 0.25 | The reward points can be redeemed for gift vouchers or cashback at a rate of 1 Reward Point = Re. 0.25 | Reward Points earned are automatically transferred to Amazon Pay balance at the end of the payment cycle. 1 Reward Point = Re. 1 | Reward points can be redeemed against a variety of gifts, products, or vouchers, and against card statement balance, where 1 reward point = Rs. 0.25 |
| Dining/Movie Benefits | Up to Rs. 750 discount on BookMyShow movie tickets onwards of the second ticket Up to 15% discount at partner restaurants in India through the ICICI Bank Culinary Treats Program | Exclusive dining benefits at restaurants in India through the ICICI Bank Culinary Treats Program Up to 25% discount on booking at least 2 movie tickets on Inox or BookMyShow in a single transaction | Up to 15% discount at 2500+ restaurants in India through the ICICI Bank Culinary Treats Program | Up to 15% discount at 2500+ restaurants in India through the ICICI Bank Culinary Treats Program |
| Travel Benefits | Unlimited international and domestic lounge access with complimentary spa access Refund of cancellation fees up to Rs. 12,000 on flight/hotel bookings twice per year | 2 complimentary railway lounge and 1 domestic airport lounge access per quarter on spending at least Rs. 5000 in the last quarter | NA | NA |
| Forex Markup Fee | 1.5% | 3.5% | 3.5% | 3.5% |
Conclusion
ICICI Bank has credit cards across different categories to meet the needs and requirements for all types of people. However, almost all credit cards by ICICI Bank charge a 3.5% forex markup fee which you will have to pay on all foreign currency spends with the card. Just the super-premium ICICI Bank Emeralde credit card charges a lower 1.5% forex markup fee and is the perfect choice for individuals who travel abroad frequently and make spends in foreign currency.
In the above article, we read about some popular ICICI Bank credit cards and every one of them has 3.5% forex markup charges except the Emeralde credit card. We recommend you to go for that card if you make a lot of international spends with your credit card.
FAQs:
The forex markup fee charged by the ICICI Bank Emeralde credit card is 1.5% plus taxes. It is a super-premium credit card that comes with a joining fee of either Rs. 1000 per month or Rs. 12000 annually.
The forex markup fees charged by almost all ICICI Bank credit cards is 3.5% of the total transaction amount. Just the ICICI Bank Emeralde credit card has a lower forex markup fee of 1.5%.
Whenever you travel to a foreign country and swipe your credit card at a merchant or make any online spends in foreign currency, you are charged an extra fee by your credit card network. On top of this, your credit card issuer adds extra charges and the total forex markup fee rises to around 3-3.5% of the total transaction amount.
Follow these steps to apply for ICICI Bank credit cards –
- Visit the official website of ICICI Bank.
- Hover your cursor on ‘Cards’ in the top menu and then click on ‘Credit Cards’.
- Narrow the search results based on your income and preferred card category.
- Click on Know More next to the card you want to apply for and go through its features, benefits, and other information.
- Click on Apply Now to submit your application. You will have to enter the required details and provide the necessary documents to submit the application.
Yes, the ICICI Bank lifetime free credit cards charge a forex markup fee on foreign currency spends. The Amazon Pay ICICI Bank credit card, the ICICI Bank Instant Platinum credit card, and the ICICI Bank Platinum Chip credit card, all charge a 3.5% forex markup fee on international transactions.
Find the perfect credit card in India by comparing the most rewarding options in one place!