M16S / ICICI Bank / ICICI Platinum Chip Credit Card
entry · rewards, lifetime-free
ICICI Platinum Chip Credit Card
The ICICI Platinum Chip Credit Card charges no annual fee and no joining fee. Its base return is 0.5% (2 RP per Rs 100 retail). Accelerated earn: None; utility and insurance earn 1 RP per Rs 100. The forex markup is 3.5%. It lists no airport lounge access. Read from the issuer's documents and an aggregator on 11 Oct 2026.
- Annual fee
- Free
- Fee waived at
- —
- Base return
- 0.5%
- Forex markup
- 3.5%
- Interest
- 3.75%a month
What changed on this card
- ICICI Bank adds fees on wallet loads, gaming and transport, Jan 2026
From 15 Jan 2026 ICICI Bank charges 1% on wallet loads of Rs 5,000 or more, 2% on skill-based gaming and 1% on transportation transactions above Rs 50,000. Source: ICICI Bank, icici.bank.in, read 28 Oct 2026
- ICICI Bank raises Dynamic Currency Conversion fee, Jan 2026
From 15 Jan 2026 statements the DCC fee on rupee transactions abroad is 3.50% on most cards, up from 1%. It is 2.00% on Emeralde Private Metal and Emeralde, 1.99% on Amazon Pay and 1.49% on Times Black. Source: ICICI Bank, icici.bank.in, read 28 Oct 2026
- ICICI Bank caps utility, insurance and grocery rewards on mid cards, Nov 2024
From 15 Nov 2024 rewards on Coral, HPCL Coral, Platinum Chip and Manchester United Signature are capped per statement cycle at Rs 40,000 of utility spend, Rs 40,000 of insurance spend and Rs 20,000 of grocery and departmental store spend. Source: ICICI Bank, icici.bank.in, read 28 Oct 2026
- ICICI Bank adds 1% fee on fuel, utility and education payments, Nov 2024
From 15 Nov 2024 ICICI Bank charges 1% on fuel transactions above Rs 10,000, 1% on utility payments above Rs 50,000 and 1% on education payments made through third-party apps. Source: ICICI Bank, icici.bank.in, read 28 Oct 2026
- ICICI Bank stops reward points on rent and wallet loads, Feb 2024
From 5 Feb 2024 rent pay and e-wallet loading transactions earn no reward points on ICICI Bank credit cards. The Amazon Pay ICICI Bank card is exempt. Source: ICICI Bank, icici.bank.in, read 28 Oct 2026
- ICICI Bank moves government payments into the utility category, Feb 2024
From 5 Feb 2024 government transactions count as utility payment transactions on ICICI Bank credit cards, so they follow the utility earn rules and caps. The Amazon Pay ICICI Bank card is exempt. Source: ICICI Bank, icici.bank.in, read 28 Oct 2026
Each change is read from the bank's own notice or terms document, linked above. Every card's changes are on the change log.
Fees
| Joining fee | Free |
|---|---|
| Annual fee | Free |
| Fee notes | Lifetime free on the product page; MITC notes a Rs 99 joining/annual fee may apply 'as communicated at the time of sourcing'. Add-on Rs 199. |
Rewards
| Reward currency | ICICI Bank Reward Points |
|---|---|
| Base earn | 2 RP per Rs 100 retail |
| Base returnunverified | 0.5% |
| Point valueunverified | Rs 0.25 per point (Card Insider) |
| Accelerated earn | None; utility and insurance earn 1 RP per Rs 100 |
| Caps | Per statement cycle, points accrue only on the first Rs 40,000 of utility spend, Rs 40,000 of insurance spend, Rs 20,000 of grocery spend and (from 1 Feb 2026) Rs 10,000 of transportation spend. |
| Spends that earn nothing | No points on fuel, rent (MCC 6513), e-wallet loads, cash; EMI and fees excluded. Government payments treated as utility. |
| Points expiry | 3 years from issuance |
| Reward notes | Rs 0.25 per point is from Card Insider, not the issuer. Redemption handling fee Rs 99 + GST per request (Rs 25 for partner-brand online/in-store redemptions) per MITC. base_return_pct = 2/100 x Rs 0.25 = 0.5%. |
Travel and perks
| Domestic lounge | None |
|---|---|
| International lounge | None |
| Forex markup | 3.5% |
| Fuel surcharge waiver | 1% on Rs 400-4,000 fuel txns at HPCL pumps |
Charges and eligibility
| Interest per month | 3.75% |
|---|---|
| Late payment fee | Nil <Rs 100; Rs 100 (Rs 100-500); Rs 500 (Rs 501-1,000); Rs 600 (Rs 1,001-5,000); Rs 750 (Rs 5,001-10,000); Rs 900 (Rs 10,001-25,000); Rs 1,100 (Rs 25,001-50,000); Rs 1,300 (>Rs 50,000) |
| Cash advance fee | 2.5% min Rs 500 |
| Eligibility | Age 21-65; income Rs 20,000 a month |
| Fine-print notes | No lounge, movie or milestone benefits. Bank-wide transaction fees (MITC): 1% on rent; 1% on fuel txns above Rs 10,000; 1% on utility txns above Rs 50,000; 1% on transportation above Rs 50,000; 1% on education paid via third-party apps; 1% on wallet loads of Rs 5,000+; 2% on skill-based gaming. DCC fee on INR transactions abroad equals the card's forex markup from 15 Jan 2026. Fee-waiver spend excludes rent, government and education payments; a fee reversal forfeits annual gifts. |
Questions
- What is the annual fee of the ICICI Platinum Chip Credit Card?
- No annual fee.
- Does the ICICI Platinum Chip Credit Card give airport lounge access?
- No lounge access is listed for this card.
- What is the forex markup on the ICICI Platinum Chip Credit Card?
- 3.5% of each foreign-currency transaction, before GST.
- Which spends earn no rewards on the ICICI Platinum Chip Credit Card?
- No points on fuel, rent (MCC 6513), e-wallet loads, cash; EMI and fees excluded. Government payments treated as utility.