Every financial institution has certain eligibility criteria that must be met in order to obtain a credit card. For example, a minimum amount of income, age, credit credibility, etc. Certainly there are many people who want to get a credit card but are not eligible yet. For all those people, ICICI Instant Platinum Credit Card comes to the Rescue. If you’re looking for your first credit card that comes with minimum eligibility criteria and is easy to obtain, then this card is just the right option for you.

Platinum Credit Card

This card can be easily obtained on the counter by existing customers of ICICI bank. You can also apply online for this card.


  • In order to be eligible for this card, you need to have a valid Fixed Deposit with ICICI bank.
  • Rs.20,000 is the minimum amount for this Fixed Deposit and the minimum tenure has to be 180 days.
    Please note this card will not be issued to minors or to third party applicants. You need to have the Fixed Deposit on your name only to sign up for this card.

Fees And Charges

  • There is absolutely no annual fees for this card.
  • Obviously if you fail to clear your debts on time late fee will be levied. Late payment charges are
0-100 NIL
100-500 100
501-10000 500
Above 10000 750
  • Overdue interest on extended credit is 2.49% per month (29.88% annually)
  • Interest on cash advances is 2.49% per month (29.88% annually)

Reward Points and Benefits

  • Earn 2 reward points on every Rs.100 spent (Rs.0.50 on every Rs.100) which is actually the lowest among competitive cards.
  • You can set credit limit for add on cards. Any transaction above this limit will be rejected automatically.
  • You can redeem these points against a variety of attractive reward points on Payback.in.
  • Rs.100 discount coupon on movie tickets every month when booked on BookMyShow.
  • This instant card offers a 1% fuel surcharge waiver. (Only available at HPCL fuel stations)
  • You can get a minimum discount of 15% on your dining experiences in 12 cities across 2500 restaurants courtesy ICICI Bank Culinary Treats Programme.
  • This card comes with Additional Security as it comes with an embedded micro chip which provides additional security against duplication of card.
  • This Card is available at a low interest rate of just 2.49% per month.
  • Whether you are in India or abroad, around the clock emergency assistance is offered.

Shortcomings of ICICI Instant Platinum Credit Card

  • This card comes with no welcome gifts which is actually the worst con possible.
  • It offers lesser reward points as compared to other cards. (Rs.0.50 on Rs.100)
  • There are other cards that provides almost same services but with a lower rate of interest.


All in all ICICI Platinum Credit Card is a decent card and a right option for the first timers. It offers quite a lot of services and rewards at a decent rate of interest. There are better cards than this one but for people with low or no income, this card can come in very handy. Also, people with high credit purchases can use this card as an add-on card, since it has no annual fees so it might as well come in handy after you exhaust the credit limit on your main card.

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