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With impact from November 15, ICICI Bank has up to date the gasoline surcharge waiver whereas revising the spending limits for rewards on utility, insurance coverage, and grocery transactions.
The spending restrict for complimentary airport lounge entry has additionally been elevated.
ICICI Bank has introduced a revised reward factors system, together with a number of different modifications, for its bank cards efficient from November 15. The financial institution has revised its bank card portfolio for the second time this yr.
The new situations embody a cap on rewards for utility, insurance coverage, and grocery spending, the introduction of add-on charges for extra cardholders. The lender has additionally modified the eligibility standards for airport lounge entry for sure playing cards.
The financial institution has introduced the next vital modifications to bank cards:
Spending restrict elevated for airport lounge entry
The free airport lounge entry provided to ICICI Bank credit score cardholders will now be provided towards larger spending. The financial institution has revised the eligibility standards for complimentary airport lounge entry to a minimal spending of Rs 75,000 within the earlier quarter.
The ICICI Bank HPCL Super Saver Visa Credit Card, ICICI Bank GraspCard Coral Credit Card, ICICI Bank Rubyx Visa Credit Card, ICICI Bank Sapphiro Visa Credit Card, ICICI Bank Adani One Signature Credit Card, MakeMyTrip ICICI Bank Platinum Credit Card, and different ICICI Bank bank cards will all be eligible for this revised spending requirement to obtain free home airport lounge entry.
No waiver of the gasoline surcharge
For credit score cardholders, ICICI Bank has up to date its gasoline price waiver coverage. The financial institution will now cost 1% of the gasoline transactions exceeding Rs 50,000 per 30 days.
Limiting incentives for funds for utilities and insurance coverage
When ICICI Bank cardholders pay for utilities or insurance coverage premium, they obtain reward factors. Now, now the financial institution has revised the spending restrict to obtain rewards.
Customers with premium bank cards (such because the ICICI Bank Rubyx Visa, Sapphiro Visa, Emeralde Visa, and others) can obtain rewards for spendings of as much as Rs 80,000 each month on utilities and insurance coverage premiums. On the opposite hand, the spending for different classes of cardholders has been capped at Rs 40, 000 per 30 days.
Restricting incentives for purchasing at supermarkets and retail shops
Spending in shops and grocery shops will even be restricted to accrue reward factors. ICICI Bank Rubyx Visa, Sapphiro Visa, Emerald Visa, and different premium credit score cardholders will obtain rewards for as much as Rs 40,000 every month on groceries. The month-to-month spend restrict for all different playing cards has been capped at 20,000.
Fees for supplementary cardholders have been applied
The financial institution will now cost an annual payment of Rs 199 for each supplementary bank card.
Revision of the spending threshold
Credit card funds for lease, authorities, and college bills is not going to be included within the expenditure standards for yearly payment reversal and milestone advantages. This modification applies to the entire financial institution’s bank cards. Additionally, for ICICI Emerald and Emerald Private Metal bank cards, the annual payment reversal barrier has been lowered from Rs 15 lakh to Rs 10 lakh.
Airport spas have been discontinued
DreamFolks card holders will now not have entry to spa companies. The following bank cards provided the service: Emirates ICICI Bank Emeralde Credit Card, ICICI Bank Adani One Signature Credit Card, ICICI Bank Sapphiro Visa Credit Card, and others.
