A Value for Money Credit Card For Enjoying Longer. Review on ICICI Bank Visa Credit Card

The ICICI Bank Credit Card Division was the first to launch a range of different priced credit cards and is still the only one to be having a low priced, mid-priced and high priced credit card. Their True Blue card is the cheapest and at an annual fee of Rs.350 is very affordable. The Sterling Silver Card at an annual fee of Rs.700 and the Solid Gold Card at an annual fee of Rs.1,000 are higher priced but also provide higher credit limits. When no other credit card company is offering a range to choose from, ICICI Bank Credit Card’s policy to offer cards at three different annual fees is something highly appreciable. Rather than the credit card company deciding what we can afford as annual fees, we ourselves can decide our affordability in case of ICICI Bank Cards and choose what we can pay for.

Some features of ICICI Bank’s Credit Cards stand out and are very strongly in its favour. The best feature is that their cards offer a maximum credit period of upto 52 days which no other card offers. A card holder is thus able to revolve the credit on the card for a maximum period of seven weeks from the date of purchase. The payment facility for the outstanding amount on the card is through drop boxes at ICICI Bank ATM’s. ICICI Bank has the largest ATM network in the country with more than 700 ATM’s spread across their own branches, petrol stations and supermarkets. If you live in any city in India, it is very likely that there is an ICICI Bank ATM close to you, where you can deposit your ICICI Bank Credit Card payment. This payment facility removes the headache of having to mail the payment well in advance and having to worry about whether the payment will reach the credit card company or not. In case of the ICICI Bank ATM drop boxes, you are certain that because the payment is accessed only by ICICI Bank, it reaches their credit card division and will be credited to your credit card account.

Another facility of ICICI Bank’s credit card worth using is their tie-up with travel agents, Cox and Kings, by which all card holders receive a 2.5% discount on domestic air tickets booked through the ICICI Bank credit card at Cox & Kings. The savings on air tickets can be substantial through this feature for frequent air travellers. The discount on international air tickets is higher. One other feature making the card attractive to the card member’s family is the Bandhan add-on card facility, where the cardholder can have a pre-set spending limit on the add-on card. One can thus give an add-on card to any of one’s family and at the same time ensure that there is no overspending beyond the limit that is not affordable to the card holder.

I found the rewards programme of ICICI Bank Credit Cards the most attractive among those offered by different credit cards. Firstly, they have a choice of more than seventy five items. Secondly, the reward items can be ordered even with an accumulation of just 150 points with 1 point being accumulated for every rupees hundred spent on the card. Thirdly, the bank rewards you 25 points when the cardholder starts using the card and also rewards 10% of points extra if the card holder uses the card for purchasing more than Rs.5000 worth of goods and services in a billing month. The items which can be redeemed for the reward points have been chosen well and include consumer durables, beauty products, leather goods, fashion accessories etc. all of which can make good gifts to family and friends. The delivery of the goods is fast and I found that the items I had ordered for, reached me by courier within two weeks, although the time given for delivery is 4-6 weeks. Also, I received an apology from ICICI Bank for a slight delay in delivery of one item which I had ordered as redemption of my reward points and subsequently received that item.

The above is based on my personal experience in having and using an ICICI Bank True Silver Card since October 2000. I have found their call centers accessible over phone without difficulty and whenever I had queries related to my card, could get satisfactory responses from their customer service representatives. Recently, ICICI Bank offered a free (for the first year) add-on card to my wife, which I have accepted. This is the Bandhan add-on card facility that they offer to spouses of card holders, but with their good service and attractive rewards for customers, ICICI Bank Credit Card Division ensures that the card holder too remains in their Bandhan for long!!!