ICICI Instant Platinum Credit Card Review 2020
ICICI Instant Platinum Credit Card Review

ICICI Instant Platinum Credit Card Review 2020

ICICI  Instant Platinum credit card is a good option for Students, Housewives and non-salaried persons if they want to apply the credit card for the first time.

Because it’s very tough to get your first credit card especially for non-working people. However, with ICICI Instant Platinum card you only have to make a fixed deposit with the ICICI bank & you will get your first credit card.

Another benefit is, ICICI Instant Platinum Card is a Lifetime Free credit card.

Fee & Charges

  • First Year – Nil
  • Renewal Fee – Nil
  • Cash Advance Fee – 2.5%, min of INR 300

Reward Points & Other Offers

  • Earn 2 reward points (payback) for every spent INR 100 except fuel.
  • 1 payback point for every Rs. 100 spent on insurance & utilities
  • Get Rs 100 off per month on movie tickets booking on BookMyShow.
  • Save a minimum of 15% on your dining bills over 800 restaurants across 10 cities in India.
  • save 1% fuel surcharge waived off on fuel transaction of a maximum of Rs 4000 at HPCL pumps.
  • You get a credit limit based on the amount you keep in the fixed deposit.

Reward Points Redemption

Collect the reward points and redeem against a variety of attractive reward points on Payback.in.

Indirect Benefit For First Timer With ICICI Instant Platinum Credit Card

  • With the ICICI Instant Platinum card, you get your first credit card easily against a fixed deposit.
  • You get up to 50 days payment period. This is the case with every credit card but as a first timer, this is an additional benefit.
  • Once you have a credit card, you can build a good credit history and CIBIL score. Instant platinum opens the ways to get another higher valued credit card or future loan from banks.

Eligibility 

  • Minimum fixed deposit amount is INR 20,000.
  • The minimum fixed deposit tenure has to be for 180 days.
  • Fixed deposit on the name of any other person is not eligible for credit card application.

Comparison Of ICICI Instant Platinum Credit Card With Standard Chartered Platinum Rewards Credit Card

CategoriesICICI Instant Platinum Standard Chartered Platinum Rewards
Annual Fee

Nil

Rs. 250 (exempted on first use within 90 days)
Welcome Gift

Nil

1000 rewards points if you transact within 60 days
Reward Points
  • 2 Payback points on every Rs. 100 spent
  • 1 payback point for every Rs. 100 spent on insurance & utilities
  • 5 points on spending 150 rupees on dining
  • 5 points on spending 150 on fuel
  • 1 reward points on spending 150 on all other categories
Other benefits
  • Rs 100 off per month on movie tickets booking on BookMyShow.
  • 15% discount on dining select restaurants
  • 1% fuel surcharge waived
  • Bonus 500 points for registering for online banking 
  • offers from ola, yatra and other brands.

Conclusion 

For the first timer, both the credit cards are good. You can go with any card. You can also apply for both cards.

If you got approval from both the cards, then go for Standard Chartered Platinum Rewards card. In the case of one approval from anyone, go with that.

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