ICICI Platinum Chip Credit Card
The ICICI Platinum Chip Credit Card is a lifetime free Visa card that offers 2 reward points per ₹100 on retail purchases and 1% fuel surcharge waiver at HPCL pumps, making it perfect for first-time credit card users and everyday shoppers seeking no-fee rewards on essential spending.
Apply Now ❯| Feature | Details |
|---|---|
| Bank / Issuer | ICICI Bank |
| Card Type | Visa |
| Joining Fee | |
| Annual Fee | |
| Reward Rates | Earn 2 Reward Points per ₹100 on retail purchases excluding fuel (0.5% return rate at ₹0.25 per point) and 1 Reward Point per ₹100 on utilities and insurance payments (0.25% return rate). Fuel surcharge waiver of 1% on transactions between ₹400-₹4,000 at HPCL pumps. |
| Eligibility Criteria (Salary) | 240000 |
| Eligibility Criteria (Self-Employed) | 240000 |
| Interest Rates | 3.75% per month (45% per annum) |
| Foreign Exchange Markup | 3.5% markup on international transactions |
Key Features & Benefits
The ICICI Platinum Chip Credit Card delivers practical everyday value without any joining or annual fees, making it an excellent entry point for individuals new to credit cards. Cardholders earn 2 reward points for every ₹100 spent on retail purchases (excluding fuel) and 1 reward point per ₹100 on utilities and insurance payments, with each point valued at approximately ₹0.25 when redeemed. This translates to a 0.5% return on retail spending and 0.25% on bills and insurance.
Beyond rewards, the card offers a 1% fuel surcharge waiver on transactions ranging from ₹400 to ₹4,000 at HPCL petrol pumps, helping you save on regular fuel expenses. The card comes equipped with advanced chip technology for enhanced security and contactless payment capability for quick, seamless transactions. Additionally, cardholders enjoy dining discounts of up to 15% at select restaurants across India, adding extra value to your lifestyle spending without any membership costs.
All You Need to Know About: ICICI Platinum Chip Credit Card
The ICICI Platinum Chip Credit Card is a Visa network credit card issued by ICICI Bank, designed specifically for individuals who want a reliable, no-frills credit card without any joining or annual fee commitments. This lifetime free card requires no membership charges either at the time of joining or in subsequent years, making it one of the most accessible credit cards for first-time users, young professionals, and those with moderate income levels. The minimum eligibility requirement is a monthly income of ₹20,000 (₹2,40,000 annually) for salaried, self-employed, and business individuals, with a minimum age requirement of 21 years. The card offers practical everyday benefits including a rewards program where cardholders earn 2 reward points for every ₹100 spent on retail purchases excluding fuel, and 1 reward point per ₹100 spent on utilities and insurance payments, with each point valued at approximately ₹0.25 during redemption.
Beyond the rewards program, the card provides a 1% fuel surcharge waiver on transactions ranging from ₹400 to ₹4,000 at HPCL petrol pumps, helping regular commuters save on fuel expenses. Cardholders also enjoy dining discounts of up to 15% at select partner restaurants across India, adding extra value to lifestyle spending. The card is equipped with advanced EMV chip technology for enhanced security against fraud and skimming, along with contactless payment capability using Near Field Communication (NFC) technology for quick and seamless transactions at enabled terminals. The card does not offer airport lounge access, making it a straightforward rewards and savings card rather than a premium lifestyle product.
From a financial perspective, the card charges an interest rate of 3.75% per month (approximately 45% per annum) on outstanding balances if only the minimum amount due is paid, which is standard across most credit cards but emphasizes the importance of paying bills in full to avoid interest charges. Foreign currency transactions attract a 3.5% markup fee, making it less ideal for international travelers. The card comes with typical ancillary charges including late payment fees based on outstanding amounts, cash advance fees of approximately 2.5% or ₹500 (whichever is higher), and a ₹99 reward redemption processing fee on certain types of redemptions. The credit limit typically starts from ₹25,000 and varies based on the applicant’s income profile, credit score, and banking relationship with ICICI Bank.
The application process is straightforward and can be completed either online through the ICICI Bank official website or offline at any ICICI Bank branch. Applicants need to provide standard documentation including PAN card for identity verification, Aadhaar card or passport, address proof, and income proof such as salary slips or bank statements for the last 3 to 6 months. The bank evaluates the application based on credit history, income stability, and existing liabilities, with approval times ranging from instant approval for pre-approved customers to a few working days for new applicants. Once approved, the card is delivered to the registered address within 7 to 10 business days. Overall, the ICICI Platinum Chip Credit Card serves as an ideal starter credit card or a secondary card for those who want to earn modest rewards on everyday spending, enjoy fuel savings, and benefit from secure chip technology—all without paying any joining or annual fees throughout the card’s lifetime.
Pros & Cons
Pros
- Completely free with no joining fee or annual fee (lifetime free)
- Earns reward points on both retail purchases and utility payments
- 1% fuel surcharge waiver at HPCL pumps saves money on regular fuel expenses
- Enhanced security with chip technology and contactless payments
- Dining discounts up to 15% at select restaurants across India
Cons
- Low reward redemption value at ₹0.25 per point (only 0.5% return on retail)
- No complimentary airport lounge access provided
- High interest rate of 3.75% per month (45% annually) on unpaid balances
- Reward redemption fee of ₹99 applicable on certain redemptions
- 3.5% foreign exchange markup makes it expensive for international travel
How to Apply
Applying for the ICICI Platinum Chip Credit Card is simple and can be done both online and offline. Visit the official ICICI Bank website and navigate to the credit cards section, then select the Platinum Chip Credit Card and click on “Apply Now.” Fill out the online application form with your personal, employment, and income details. You’ll need to upload required documents including PAN card, Aadhaar card or passport for identity proof, address proof, and income proof such as salary slips or bank statements for the last 3-6 months. Alternatively, you can visit your nearest ICICI Bank branch with these documents to apply in person. Once submitted, the bank will verify your details and credit profile, with approval typically ranging from instant to a few working days. Upon approval, your card will be delivered to your registered address within 7-10 business days.
Detailed Fee Structure
The ICICI Platinum Chip Credit Card stands out with its completely transparent and customer-friendly fee structure—there are no joining fees and no annual fees from the second year onwards, making it a true lifetime free credit card. This eliminates the burden of recurring charges that often accompany credit cards, allowing you to enjoy rewards and benefits without any upfront or yearly costs.
However, it’s important to be aware of certain ancillary charges. If you fail to pay at least the minimum amount due by the payment deadline, late payment charges will apply based on the outstanding balance. Cash advances through ATMs attract both a cash advance fee (typically 2.5% of the transaction amount or ₹500, whichever is higher) and immediate interest charges at 3.75% per month. Foreign currency transactions incur a 3.5% markup fee on the converted amount. While earning rewards is free, redeeming certain rewards attracts a ₹99 processing fee depending on the redemption method. Additionally, if you exceed your credit limit, over-limit charges may apply. Understanding these hidden fees helps you use the card responsibly and avoid unexpected costs while maximizing its no-fee benefits.
Who Should Get This Card?
The ICICI Platinum Chip Credit Card is ideally suited for first-time credit card applicants, young professionals, and salaried individuals earning a minimum of ₹20,000 per month who want to build their credit history without any fee commitments. It’s perfect for everyday shoppers who make regular retail purchases and want to earn modest rewards on groceries, shopping, and dining. Those who frequently pay utility bills and insurance premiums can benefit from the reward points on these transactions. Additionally, individuals who regularly refuel at HPCL petrol pumps will appreciate the 1% fuel surcharge waiver. If you’re seeking a simple, no-frills credit card with basic rewards, enhanced security features, and zero annual costs, this card offers excellent value without the pressure of spending thresholds or fee waivers.
Alternatives & Competitor Comparison
| Feature | ICICI Platinum Chip Credit Card | IndusInd Platinum RuPay Card |
|---|---|---|
| Card Image |  |  |
| Card Network | Visa | RuPay |
| USP | The ICICI Platinum Chip Credit Card is a lifetime free Visa card that offers 2 reward points per ₹100 on retail purchases and 1% fuel surcharge waiver at HPCL pumps, making it perfect for first-time credit card users and everyday shoppers seeking no-fee rewards on essential spending. | The IndusInd Platinum RuPay Card is a lifetime free, no-fee credit card ideal for frequent UPI users, offering rewarding cashback and points on digital payments with seamless fuel surcharge waivers and simple, cost-effective benefits |
| Annual Fee | N/A | N/A |
| Joining Fee | N/A | N/A |
| Welcome Benefits | N/A | N/A |
| Lounge Access | N/A | N/A |
| Reward Rate | Earn 2 reward points per ₹100 on retail purchases excluding fuel (0.5% return rate at ₹0.25 per point) and 1 reward Point per ₹100 on utilities and insurance payments (0.25% return rate). Fuel surcharge waiver of 1% on transactions between ₹400-₹4,000 at HPCL pumps. | 2 reward points per ₹100 spent on UPI transactions and 1 reward point per ₹100 on other spends |
| Interest Rate | 3.75% per month (45% per annum) | 3.83% per month (around 46% per annum) |
| Best For | N/A | UPI |
| Apply Now | Apply Now | Apply Now |
Frequently Asked Questions
What is the eligibility criteria for the ICICI Platinum Chip Credit Card?
To be eligible for the ICICI Platinum Chip Credit Card, you must be at least 21 years of age and earn a minimum monthly income of ₹20,000 (₹2,40,000 annually) whether you are a salaried employee, self-employed professional, or business owner. You'll need valid identity proof (PAN card, Aadhaar, or passport), address proof, and income documentation such as salary slips or bank statements. The bank will also assess your credit score and repayment history during the application process.
Does the ICICI Platinum Chip Credit Card have any joining or annual fees?
No, the ICICI Platinum Chip Credit Card is completely free with zero joining fees and zero annual fees from the second year onwards, making it a lifetime free credit card. There are no spending requirements or conditions to maintain this free status, and you won't be charged any membership fees at any point during card ownership.
How many reward points can I earn with the ICICI Platinum Chip Credit Card?
With the ICICI Platinum Chip Credit Card, you earn 2 reward points for every ₹100 spent on retail purchases (excluding fuel transactions) and 1 reward point for every ₹100 spent on utilities and insurance payments. Each reward point is valued at approximately ₹0.25 when redeemed, giving you a return of 0.5% on retail spends and 0.25% on bills and insurance.
Does the ICICI Platinum Chip Credit Card offer airport lounge access?
No, the ICICI Platinum Chip Credit Card does not provide complimentary airport lounge access, either domestic or international. However, the card offers other benefits such as dining discounts up to 15% at select restaurants, fuel surcharge waiver at HPCL pumps, and reward points on purchases. If lounge access is a priority, you may want to consider premium ICICI credit cards.
What is the fuel surcharge waiver benefit on the ICICI Platinum Chip Credit Card?
The ICICI Platinum Chip Credit Card offers a 1% fuel surcharge waiver on fuel transactions made at HPCL petrol pumps for transactions valued between ₹400 and ₹4,000 per transaction. This means you save 1% on your fuel costs when using the card at HPCL outlets within this transaction range, helping reduce your regular fuel expenses.
Final Verdict
Is the ICICI Platinum Chip Credit Card right for you? If you're a first-time credit card user or someone seeking a no-commitment, no-fee card with basic rewards on everyday spending, this card is an excellent choice. The lifetime free status removes any financial pressure, while the 2 reward points per ₹100 on retail purchases and 1% fuel surcharge waiver at HPCL add modest but consistent value to your regular expenses. The enhanced chip security and contactless payment features make it a safe and convenient payment tool for modern consumers. However, if you're looking for premium benefits like airport lounge access, higher reward rates, or extensive travel perks, you might want to explore premium card options. For young professionals, students entering the workforce, or anyone wanting to build credit history without annual fee commitments, the ICICI Platinum Chip Credit Card delivers solid foundational value. Apply today through the ICICI Bank website or visit your nearest branch to start your credit journey with zero fees and reliable rewards.
You might also be interested in:
Latest Blogs
Club Vistara IDFC FIRST vs HDFC Diners Club Black Credit Card Comparison
IDFC FIRST WOW vs Tata Neu Plus SBI Card: Best Pick?
HDFC Regalia Gold vs Tata Neu Plus: Which Card Wins?
ICICI Sapphiro vs Axis Reserve Credit Card: Which Premium Card Wins?
IndiGo Kotak XL vs IndiGo Kotak Credit Card
Airtel Axis Bank Credit Card vs Flipkart Axis Bank Credit Card: Which Cashback Card is Best in 2025?
Latest Comparisons
Flipkart SBI vs Axis Bank Credit Card – Best for Online Shopping Rewards?
IDFC FIRST Select vs Federal Bank Scapia vs IndusInd Tiger – Best Lifetime Free Card?
HDFC Regalia Gold vs ICICI Sapphiro vs SBI ELITE – Best Premium Card?
SBI SimplySAVE vs SimplyCLICK Credit Card – Best for Rewards?
HDFC Millenia vs Tata Neu Plus vs Swiggy Credit Card – Best for Rewards?
ICICI Sapphiro vs IDFC Mayura vs HDFC Diners Black – Best Premium Travel Card?