ICICI Bank credit card changes from November 15: Fuel surcharge waiver, lounge access, late payment fee structure

New credit card rules: ICICI Bank informed its credit card users via SMS regarding the updates. Here’s a summary of what changes are being implemented for ICICI Bank credit card customers, based on an SMS that was sent by the bank.

By Sneha Kulkarni, ET Online | Updated: Nov 02, 2024, 12.14 PM IST

ICICI Bank credit card changes from November 15: Fuel surcharge waiver, lounge access, late payment fee structure.

ICICI Bank has changed its pricing structure and lowered incentives on various credit cards, affecting services like as insurance and food purchases, airport lounge access, fuel surcharge waiver, and even late payment fines.

ICICI Bank notified its credit card customers through SMS about the changes.
Here's a look at what changes for ICICI Bank credit card clients, according to an SMS received by the bank.

New credit card rules: SBI Card increases these credit card charges from November 1, 2024; check details

Utility/Insurance Capping
You will continue to earn reward points for utility spends up to Rs. 80,000, insurance spends up to Rs. 80,000, at the current earn rate

You will continue to earn reward points for utility spends up to Rs. 40,000, insurance spends up to Rs. 40,000, at the current earn rate.

Grocery Capping
You will continue to earn reward points for grocery & departmental store spends up to Rs.40,000 per month, at the current earn rate.

You will continue to earn reward points for grocery & departmental store spends up to Rs.20,000 per month, at the current earn rate.

No rewards on government transactions
You will continue to earn reward points on your ICICI Bank Emeralde Private Metal Credit Card spends, excluding for government related spends.

No fuel surcharge waiver beyond Rs 50K
Fuel surcharge waivers on fuel spends up to Rs. 50,000 only per month, surcharge waiver will not be applicable for spends beyond this limit.

No fuel surcharge waiver for spends beyond Rs 100K
Fuel surcharge waivers on fuel spends up to Rs. 1,00,000 per month, surcharge waiver will not be applicable for spends beyond this limit.

Spa Discontinuation
The Spa access provided basis DreamFolks card is now being discontinued.

Rent/government/education exclusion in spend threshold
The spend threshold for annual fee reversal and milestone benefits will exclude rent, government, and education payments made via credit card.

Spend threshold for Annual Fee reduction to 10L
The spend threshold for the reversal of the annual fee has been revised to Rs. 10 Lakh per annum, reduced from the current criteria of Rs. 15 lakh per annum.

1% fee on education payment via third party
No fee will be charged for payments made directly to school or college including international education payments from your credit card. However, a fee of 1% of the transaction amount will be charged for education payments made through thirdparty apps.

1% fee on utility transaction >50K
A fee of 1% of the transaction amount will be charged for utility payment transactions exceeding Rs. 50,000

1% fee for fuel transaction>10K
A fee of 1% of the transaction amount will be charged for fuel transactions exceeding Rs. 10,000.

Add-on Fee Rs 199
Supplementary cardholders will enjoy enhanced benefits with an annual fee of Rs. 199, which will be levied in the card anniversary month statement.

Late Payment Charges Change
Late payment charges will be revised according to the new structure.
Late payment charges - NEW STRUCTURE
Outstanding Amount Late Payment Charge (INR)
<= Rs. 100 Nil
Rs. 101 - Rs. 500: Rs. 100
Rs. 501 - Rs. 1,000: Rs. 500
Rs. 1,001 - Rs. 5,000: Rs. 600
Rs. 5,001 - Rs. 10,000: Rs. 750
Rs. 10,001 - Rs. 25,000: Rs. 900
Rs. 25,001 - Rs. 50,000: Rs. 1,100
> Rs. 50,000: Rs. 1,300

Rs 75K quarter spend for domestic lounge access
You can enjoy complimentary airport lounge access by spending Rs. 75,000 in the preceding calendar quarter. Spends made in the preceding calendar quarter will unlock access for the subsequent calendar quarter. To be eligible for complimentary lounge access in Jan-Feb-Mar, 2025 quarter, you need to spend a minimum of Rs.75,000 in the Oct-Nov-Dec, 2024 quarter and similarly for the following quarters.

Revolving Rate @45%
Finance charges for the revolving credit facility on retail transactions and cash advances will be revised to 3.75% per month (45% per annum)

Mark up on Forex @2%
You can continue enjoying the convenience of using your Credit Card for international transactions with a revised mark-up fee of 2%.

Top travel credit cards with airport lounge access, discounts on airfare, business class vouchers: SBI Card, Axis Bank, HDFC Bank

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Travel-credit card features can make your vacation even better and provide you with peace of mind when traveling, from extra security to special incentives. Selecting the appropriate travel credit card can optimize your benefits and greatly improve your trip. Travel credit cards offer points redeemable for flights, hotels, and more through their portals.

Additionally, a lot of travel credit cards provide additional benefits for specific categories of expenditure. Gas, groceries, entertainment, dining, and travel are a few examples of these categories. You can match your spending patterns to the card's rewards structure and use these areas to gain extra points or miles.

Here are some of the top banks' travel credit cards providing significant value-back on travel spends. All card information is sourced from the card provider website as of October 29, 2024. Source: Bank websites.