By Bharti Bisht
Updated On September 20, 2021

The ICICI Bank Instant Platinum Credit Card is a secured credit card that is issued by the bank against a fixed deposit. The card comes with a zero annual fee and earns you Rewards in the form of PAYBACK point every time you make a purchase using it. Moreover, to let you save more on other categories, the card provides exciting discount offers on dining and movies keeping your requirements in mind.

Other than all these benefits, you can save on fuel transactions as the card comes with a fuel surcharge waiver. More of its benefits include a low-interest rate on revolving credit. To get full details about the ICICI Bank Instant Platinum Credit Card, its advantages, and fees & charges, keep reading the information given below:

ICICI Bank Instant Platinum Credit Card

Best Suited For

Movies | Shopping |

Joining Fee

Nil

Reward Type

Reward Points |

Product Details

  • It is a secured credit card issued against a fixed deposit.
  • 2 PAYBACK Points per Rs. 100 spent with the card (except on utilities, insurance and fuel).
  • 1 PAYBACK Point per Rs. 100 spent on fuel purchases.
  • Minimum 15% discount on dining bills at partner restaurants with ICICI Bank Culinary Treats Program.
  • 25% discount on movie tickets on BookMyShow on purchasing 2 movie tickets in a single transaction (max twice in a month).
  • 1% surcharge waived on fuel purchases at all fuel stations across India on transactions of up to Rs. 4,000.

Rewards and Benefits

Welcome Benefits

N/A

Movie & Dining

25% discount (up to Rs. 100) on movie tickets on booking a minimum of 2 tickets in a single transaction on BookMyShow. Discount can be availed for a maximum of two times in a month.

Rewards Rate

2 PAYBACK Points on every spend of Rs. 100.

Reward Redemption

The PAYBACK Points earned can be redeemed for gifts/shopping vouchers and for purchasing products from the PAYBACK Rewards Catalog.

Travel

N/A

Golf

N/A

Domestic Lounge Access

N/A

International Lounge Access

N/A

Insurance Benefits

N/A

Zero Liability Protection

Cardholder shall not be liable for any fraudulent transaction made with the card post reporting the loss of card to the bank.

Fees & Charges

Joining Fee

Nil

Renewal Fee

Nil

Spend based Waiver

N/A

Rewards Redemption Fee

Rs. 99 per redemption request

Rewards Redemption Fee

Rs. 99 per redemption request

Foreign Currency Markup

3.5% on all international transactions

Interest Rates

2.49% per month

Fuel Surcharge

1% fuel surcharge waiver for all fuel transactions up to Rs. 4,000

Cash Advance Charge

2.5% of the cash amount transacted subject to a minimum of Rs. 300

Add-on Card Fee

Nil

ICICI Bank Instant Platinum Credit Card Rewards:

  • You get 2 PAYBACK Points on every Rs. 100 you spend using your card.
  • You earn 1 PAYBACK Point on every Rs. 100 you spend on insurance-related transactions or utility bills.

Rewards Redemption

  • The PAYBACK Points you earn using your ICICI Bank Instant Platinum Credit Card can be redeemed at the PAYBACK website.
  • 1 PAYBACK Point = Re. 0.25.
  • The earned Payback points are redeemable against various categories and products, including shopping, gift vouchers, and many more.

Dining & Movie Benefits

  • Avail of a discount of 15% or more on dining with the ICICI Bank Culinary Treats Programme.
  • You get an assured discount of 25% on movie tickets on BookMyShow on a minimum purchase of two movie tickets.
  • The maximum discount you can get on movie tickets is capped at Rs. 100 twice in a month.

Fuel Surcharge Waiver

The 1% fuel surcharge is waived off on fuel transactions up to Rs. 4,000 if you pay using your ICICI bank Instant Platinum Credit Card.

Eligibility Criteria

The ICICI Bank Instant Platinum Credit Card is a secured credit card that can be issued against an FD of Rs. 20,000 or more. The minimum tenure of the fixed deposit needs to be of 180 days or more.

How To Apply for the ICICI Bank Instant Platinum Credit Card?

To apply for this card, you have to get a fixed deposit of a minimum of Rs. 20,000 with the ICICI Bank. You can either visit the branch nearest to you to get your card instantly or you can apply online through the ICICI Bank’s internet banking. 

Conclusion

Being a zero annual fee credit card, the ICICI Bank Instant Platinum provides exclusive benefits one can expect from a lifetime free credit card. One of the most significant advantages of the cards is: it is a low-interest credit card, unlike most other credit cards that have an interest rate of 3% and above.

Other than the savings you make from its reward program, you can save up to Rs. 2,400 every year on movies, which is not a bad deal. Being a secured credit card, the card allows you to build or rebuild your credit score that too without any annual fee. So, if you want to have a secured credit card with exciting benefits, this card would be a great choice.

FAQs:

With the ICICI Bank Instant Platinum Credit Card, you can avail of a discount of 25% (up to Rs. 100) on movies two times a month on BookMyShow.

The minimum amount required to apply for this card is Rs. 20,000.

The ICICI Bank Instant Platinum Credit Card has no joining/annual fee.

Yes, the PAYBACK Points you earn using your ICICI Bank Instant Platinum Credit Card are redeemable against cash.

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