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ICICI Bank has announced a series of credit card benefit changes effective Feb. 1, including the discontinuation of BookMyShow movie perks on select products. The bank will continue, with modifications, to provide point earnings on transport and insurance spends across several cards.
Customers using ICICI Bank’s Instant Platinum Chip Credit Card and Instant Platinum Credit Card will lose access to complimentary movie bookings on BookMyShow following the revision.
Holders of the ICICI Bank HPCL Super Saver credit card will continue to receive reward points on insurance payments of up to Rs 40,000 at the existing earn rate.
Here’s a breakdown of the key changes that will be applicable from Feb. 1:
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Transport spends: Cardholders of ICICI Bank Rubyx, Sapphiro, and Emeralde variants will earn reward points on transport transactions of up to Rs 20,000 per month. Meanwhile, a wider set of cards, including Platinum, HPCL Platinum, Coral, Expressions, Parakram, and Manchester United/Chennai Super Kings editions, will be eligible for points on transport merchant category code (MCC) transactions of up to Rs 10,000 per month, depending on the MCC.
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Insurance spends: Holders of the ICICI Bank HPCL Super Saver Credit Card will continue to earn reward points on insurance transactions of up to Rs 40,000 at the current earn rate.
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BookMyShow offer: The complimentary movie benefit on BookMyShow will be withdrawn for ICICI Bank Instant Platinum and Instant Platinum Chip credit cards.
ALSO READ: HDFC Bank Revises Reward Point Redemption Rules For This Credit Card: Key Details Here
Other Important Points:
- Cardholders will continue to earn reward points on transport-related transactions, with eligible spending thresholds ranging between Rs 10,000 and Rs 40,000 depending on the card variant.
- ICICI Bank will introduce a transaction fee on payments made through its retail credit cards for online gaming activities.
- A 2% fee has been imposed on transactions carried out on online gaming platforms. The charge will also apply to any similar merchant categories that may be introduced for similar transactions in future.
- A 1% charge will be levied on credit card transactions of Rs 5,000 and above used to add money to third-party digital wallets, including Amazon Pay, Paytm, MobiKwik, Freecharge and OlaMoney.
- Transactions exceeding Rs 50,000 in the transportation select merchant category will now attract a 1% fee, the bank has said.
- ICICI Bank has advised credit card customers to review the updated terms, with certain benefits being retained within specified limits and others either discontinued or revised.
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