ICICI Bank

ICICI Platinum Chip Credit Card

LIFETIME FREE Card

This is an invite only card

Top Benefits

Earn 2 Reward Points per ₹100 spent on Retail Transactions

a category many cards exclude entirely from earning rewards

Earn 1 Reward Point per ₹100 on Utility & Insurance Spends

a category many cards exclude entirely from earning rewards

Best For

Shopping

Utility Bills

The ICICI Platinum Chip Credit Card is one of the most popular lifetime free credit cards in the Indi...

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The ICICI Platinum Chip Credit Card is one of the most popular lifetime free credit cards in the Indian market. Issued by ICICI Bank on the Visa network, it carries a ₹0 joining fee and ₹0 annual fee, making it a true no-cost-of-ownership card for users who want basic credit card functionality without any commitments.

The card delivers 2 reward points per ₹100 on retail spends, redeemable at ₹0.25 per point, which gives a 0.5% effective return. While modest, this is reasonable for a lifetime free card where the value comes from zero annual fees rather than accelerated rewards.

Eligibility requires applicants to be between 21 and 60 years of age, with a minimum annual income of ₹3 LPA for both salaried and self-employed (₹20,000 monthly). CIBIL score requirement is 700 or above. This is one of the most accessible credit cards in India for first-time users and low-income segments.

Beyond rewards, the card offers up to 15% savings at over 2,500 partner restaurants across India through ICICI's Culinary Treats program. This is meaningful value for users who dine out regularly. The card also includes a 1% fuel surcharge waiver at HPCL pumps on transactions between ₹400 and ₹4,000.

The card does not offer airport lounge access, complimentary movie tickets, golf privileges, or premium dining programmes beyond Culinary Treats. There are no welcome benefits either. This is a baseline card built for users who want zero-cost credit card access and the ICICI banking ecosystem.

As a Visa card, the Platinum Chip has broad merchant acceptance across India and internationally. It supports contactless payments, EMV chip security, and online transaction protection. The 3.5% forex markup is industry-standard but not differentiated for international travellers.

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Commonly Asked Questions

Q. Is the ICICI Platinum Chip lifetime free?

A. Yes, the card has ₹0 joining fee and ₹0 annual fee for the entire lifetime of the card, with no spend conditions to maintain.

Q. What is the reward earn rate?

A. The card earns 2 reward points per ₹100 on retail spends, with 1 point = ₹0.25, giving a 0.5% effective return.

Q. What dining benefits does the card offer?

A. Up to 15% savings at over 2,500 partner restaurants across India through ICICI's Culinary Treats program.

Expert Review

The ICICI Platinum Chip is the strongest true lifetime free credit card for users who value the ICICI banking ecosystem and the Culinary Treats dining programme. The ₹0 annual fee with no spend conditions makes this a hold-forever card with zero risk.

The 0.5% base reward rate is modest, but the Culinary Treats programme delivers meaningful value. For users who eat out regularly at modern restaurants, the up to 15% dining savings at 2,500+ partner restaurants can extract ₹10,000 to ₹30,000 in annual value depending on dining frequency.

The rare 1 RP per ₹100 on utility and insurance payments is another unique feature. While the 0.25% return is small, most cards exclude these categories entirely, so any rewards here are bonus value.

The card has limitations. No airport lounge access, no movie ticket benefits, no welcome bonuses, and no milestone rewards. The 3.5% forex markup is uncompetitive. The reward redemption fee adds friction.

Our recommendation: get this card as a credit history builder, as a backup card in your wallet, or as a primary card if you dine out regularly and want the Culinary Treats benefit. For users who want richer rewards, look at the HDFC Millennia, Axis ACE, or SBI Cashback at the ₹500-₹1,000 fee tier.

Joining / Annual Fee

Joining Fees

₹0 ( ₹0 + GST )

logo Not Applicable

Annual Fees

₹0 ( ₹0 + GST )

logo Not Applicable

The ICICI Platinum Chip is a true lifetime free credit card. Both joining fee and annual fee are ₹0 f...

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The ICICI Platinum Chip is a true lifetime free credit card. Both joining fee and annual fee are ₹0 forever, with no spend conditions, no renewal charges, and no hidden costs.

This is significant. Most cards charge ₹500 to ₹1,500 annual fees with waivers conditional on spending. The Platinum Chip requires no spend threshold and no annual review. The card stays free as long as it is in your wallet.

The only charges you would incur are standard usage-based fees: late payment charges, cash advance fees, forex markup, and reward redemption fees. These are detailed in the Bank Fee Structure section.

Because there is no annual fee, every reward and every dining discount you earn becomes pure value. There is no break-even spend that you need to hit to justify keeping the card.

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Commonly Asked Questions

Q. Is the joining fee really ₹0?

A. Yes, the joining fee is ₹0 with no conditions.

Q. Is there any annual or renewal fee?

A. No, the annual fee is ₹0 every year. There are no renewal charges.

Q. Is there a minimum spend to keep the card free?

A. No, the card remains lifetime free regardless of usage.

Q. Does GST apply on the fees?

A. Since fees are ₹0, no GST applies on joining or annual fees.

Eligibility

Age
Criteria*

21-60 years

Salary
Criteria*

3LPA

Credit
Rating*

700+

New to credit
allowed

Yes

Existing Bank
Customer Allowed

Yes

The ICICI Platinum Chip is one of the most accessible cards in the Indian market. Applicants must ...

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The ICICI Platinum Chip is one of the most accessible cards in the Indian market.

Applicants must be between 21 and 60 years of age. The minimum annual income is ₹3 LPA for both salaried and self-employed (₹20,000 monthly).

A CIBIL score of 700 or above is required, which is one of the most relaxed CIBIL thresholds among Indian credit cards. This makes the card accessible to first-time credit users with limited credit history.

You must be a resident Indian citizen with valid PAN, Aadhaar, and address proof. ICICI Bank has an extensive branch network across India.

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Commonly Asked Questions

Q. What is the minimum income required?

A. ₹3 LPA for both salaried and self-employed applicants.

Q. What CIBIL score is needed?

A. 700 or above, which is relaxed compared to most premium cards.

Q. Is this card available to first-time credit users?

A. Yes, the accessible CIBIL threshold and zero fees make this card suitable for first-time users.

Q. Are NRIs eligible?

A. No, this card is only for resident Indian citizens.

See if you are eligible for this card

All Card Benefits

Earn 2 reward points per ₹100 on retail spends, redeemable across electronics, fashion, travel, and shopping vouchers.
One of the few cards that earns reward points on utility and insurance payments (1 point per ₹100), categories most cards exclude.

The ICICI Platinum Chip focuses on baseline credit card functionality at zero cost. The reward str...

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The ICICI Platinum Chip focuses on baseline credit card functionality at zero cost.

The reward structure is straightforward: 2 reward points per ₹100 on retail spends, redeemable at ₹0.25 per point. So ₹50,000 monthly spending earns 1,000 reward points worth ₹250, or a 0.5% effective return.

Unusually for an entry-level card, the Platinum Chip also earns rewards on utility and insurance payments at 1 reward point per ₹100. While the 0.25% return is modest, most cards exclude these categories entirely, so any rewards here add incremental value.

The Culinary Treats program offers up to 15% savings at over 2,500 partner restaurants across India. This is the standout benefit on this card. The savings vary by restaurant and time of visit, but a regular diner can extract ₹500 to ₹2,000 in monthly dining savings without any spending threshold.

Fuel benefits include a 1% fuel surcharge waiver at HPCL pumps only, applicable on transactions between ₹400 and ₹4,000. The waiver is not available at other fuel networks like BPCL or Indian Oil.

EMI conversion is available for eligible purchases, allowing you to convert large transactions into manageable monthly instalments. The card does not offer welcome benefits, milestone bonuses, or anniversary rewards.

There are no airport lounge benefits, movie ticket discounts, golf privileges, or hotel partner programmes. The card is intentionally bare-bones to maintain its lifetime free status.

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Commonly Asked Questions

Q. What is the base reward rate?

A. 2 reward points per ₹100 on retail spends, redeemable at ₹0.25 per point.

Q. Do utility and insurance payments earn rewards?

A. Yes, 1 reward point per ₹100 on utility and insurance spends, which is rare among Indian credit cards.

Q. What is the Culinary Treats program?

A. ICICI's dining programme offering up to 15% savings at over 2,500 partner restaurants across India.

Q. Is there a fuel surcharge waiver?

A. Yes, 1% fuel surcharge waiver at HPCL pumps on transactions between ₹400 and ₹4,000.

Q. Does this card offer airport lounge access?

A. No, the Platinum Chip does not include complimentary airport lounge access.

Q. Are there movie ticket discounts?

A. No, the card does not offer movie ticket discounts.

Q. Is EMI conversion available?

A. Yes, eligible purchases can be converted to EMI at the point of sale.

How to Redeem Rewards & Cashback?

Rewards Conversion Rate

1 Reward Points = ₹0.25

Redemption Options

Travel: ICICI Bank Rewards Platform
Movie: ICICI Bank Rewards Platform
Lifestyle Products: ICICI Bank Rewards Platform

To check redemption catalogue

Click Here

Reward redemption is done through the ICICI Bank Rewards portal at rewards.icicibank.com or via the i...

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Reward redemption is done through the ICICI Bank Rewards portal at rewards.icicibank.com or via the iMobile app.

The standard redemption rate is 1 reward point = ₹0.25 across travel bookings, movie vouchers, lifestyle products, and partner brands.

To redeem, log in, browse the catalogue, select your option, and confirm. E-vouchers are delivered within 24 to 72 hours.

Reward redemption fee is ₹99 plus GST per request. Reward points have an expiry period of typically 2 to 3 years.

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Commonly Asked Questions

Q. What is the redemption value?

A. 1 reward point = ₹0.25 across the ICICI Rewards catalogue.

Q. Is there a redemption fee?

A. Yes, ₹99 plus GST per redemption.

Q. Do reward points expire?

A. Yes, typically 2 to 3 years from the date earned.

Bank Exclusions

You will not earn points / cashback on spends in the following categories

For Points / Cashback Earnings

Rent Payment

Insurance

Cash Withdrawls

School & Educational Services

GST Charges

Tolls

For Spends Waiver

Rent Payment

Insurance

Cash Withdrawls

School & Educational Services

GST Charges

Tolls

Excluded categories include rent payment, insurance, cash withdrawals, school and educational service...

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Excluded categories include rent payment, insurance, cash withdrawals, school and educational services, GST charges, and tolls. These do not earn reward points.

However, this card does earn rewards on utility and insurance payments at 1 RP per ₹100, which is unusual since most cards exclude these entirely.

Refer to the latest MITC for the full exclusion list.

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Commonly Asked Questions

Q. Are rent payments rewarded?

A. No, rent payments are excluded.

Q. Do insurance payments earn rewards?

A. Yes, 1 reward point per ₹100, which is rare among credit cards.

Q. Are educational payments rewarded?

A. No, school and educational services are excluded.

Bank Fee Structure

Structure	Details
Forex Markups 3.50% forex markup is charged on transactions made in currencies other than INR. Applies to international POS payments and online purchases charged in foreign currency Examples (3.50%): ₹100 → ₹3.5 ₹1,000 → ₹35 ₹10,000 → ₹350 ₹1,00,000 → ₹3,500	3.50%
APR Fees 3.75% monthly interest rate applies on the outstanding balance if the full amount due is not paid by the statement due date. The interest-free period is 20 to 55 days for new purchases	3.75%
ATM withdrawal 2.5% of the withdrawn amount is charged on cash advances using the credit card, subject to a minimum of ₹500	2.50%
Reward Redemption Fees A reward redemption handling fee of ₹99 plus applicable GST is charged per redemption request	₹99
Link for all T&Cs	Click Here
Railway Surcharge A railway booking surcharge of 1.80% for online transactions and 2.50% for other bookings is applied, with additional bank charges and taxes recovered at actuals	1.80%
Rent Payment Fees 1% of the transaction amount is charged as a fee on rent payment transactions, subject to applicable GST and platform charges	1%
cheque Payment Fees A fee of ₹100 is charged for payments made by cheque	₹100
Cash Payment Fees A fee of ₹100 is charged for payments made by depositing cash at a bank branch or ATM	₹100

Late Payment Fees	Amount Due
₹0 - ₹100	₹0
₹101 - ₹500	₹100
₹501 - ₹1,000	₹500
₹1,001 - ₹5,000	₹600
₹5,001 - ₹10,000	₹750
₹10,001 - ₹25,000	₹900
₹25,001 - ₹50,000	₹1,100
Above ₹50,000	₹1,300

Joining fee ₹0 and annual fee ₹0 for the lifetime of the card. Forex markup is 3.5% on all interna...

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Joining fee ₹0 and annual fee ₹0 for the lifetime of the card.

Forex markup is 3.5% on all international transactions. APR on revolving balances is 3.5% per month, or 42% per annum.

Cash advance fee is 2.5% of withdrawn amount, minimum ₹500. Reward redemption fee is ₹99 plus GST per redemption.

Railway surcharge is 1% plus GST on railway ticket purchases. Rent payment processing charge is 1% of transaction.

Cheque payment charge is ₹100 per cheque. Cash payment at branch (SBI branches) is ₹250 plus applicable taxes; no fee at KVB branches.

Late payment charges are slab-based: ₹0 below ₹500, ₹400 for ₹501 to ₹1,000, ₹750 for ₹1,001 to ₹10,000, ₹950 for ₹10,001 to ₹25,000, ₹1,100 for ₹25,001 to ₹50,000, and ₹1,300 above ₹50,000. An additional ₹100 is levied for two consecutive missed minimum amount due cycles.

Fee Type	Amount
Joining Fee	₹0
Annual Fee	₹0
Forex Markup	3.5%
APR	3.5% per month (42% p.a.)
Cash Advance Fee	2.5% (min ₹500)
Reward Redemption Fee	₹99 + GST per redemption
Railway Surcharge	1% + GST
Rent Payment Charge	1% of transaction
Cheque Payment Charge	₹100 per cheque
Cash Payment at Branch	₹250 + taxes (SBI); free at KVB
Late Payment Charges	₹0 / ₹400 / ₹750 / ₹950 / ₹1,100 / ₹1,300 (slab-based)

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Commonly Asked Questions

Q. What is the interest rate?

A. 3.5% per month or 42% per annum.

Q. What is the forex markup?

A. 3.5% on all international transactions.

Q. What are the late payment charges?

A. Slab-based from ₹0 to ₹1,300, plus ₹100 for two consecutive missed MAD cycles.

Q. Is there a redemption fee?

A. Yes, ₹99 plus GST per redemption.

Q. What is the cash advance fee?

A. 2.5% of withdrawn amount, minimum ₹500.

Q. What is the rent payment charge?

A. 1% of transaction value, plus the rent transaction is excluded from rewards.

Documents Required

Identity proof requires PAN plus Aadhaar, Voter ID, passport, or driving licence. Address proof can be Aadhaar with current address, utility bills, rental agreement, or passport.

Income proof for salaried: last 3 months' salary slips and 6 months' bank statement. Self-employed: last 2 years' ITR with computation, 6 months' business bank statement, and proof of business existence.

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Commonly Asked Questions

Q. Is PAN mandatory?

A. Yes, PAN is mandatory.

Q. What income proof is needed for salaried?

A. Last 3 months' salary slips and 6 months' bank statement.

Q. What income proof is needed for self-employed?

A. Last 2 years' ITR, business bank statement, and proof of business existence.

Who Should Get This Card?

The ICICI Platinum Chip is built for first-time credit card users, low-income segments, and anyone who wants a baseline credit card without any annual cost commitment. The card delivers basic functionality and the Culinary Treats dining programme at zero cost.

It also works well as a secondary card to keep open for credit history purposes. Since there is no fee, you can hold this card for years to maintain credit age, which positively impacts CIBIL score.

The card is not the right pick if you want premium experiential benefits (lounge access, golf, hotel partners), accelerated category rewards, or strong international travel features. For those needs, look at the HDFC Regalia, ICICI Sapphiro, or AU Zenith Plus.

For regular diners who frequently visit modern restaurants, the Culinary Treats programme makes this card especially valuable. A user dining out twice a week at ₹1,500 average bill saves approximately ₹2,250 monthly (at 15% rate), which is substantial value at zero cost.

Credit Limit and What to Expect

The credit limit depends on your income, CIBIL score, and existing obligations. For ₹3 to ₹6 LPA income profiles, typical starting limits range from ₹25,000 to ₹1,00,000.

ICICI reviews accounts periodically and offers credit limit enhancements after 6 to 12 months of regular usage and timely payments.

Keep credit utilisation below 30%. With a ₹50,000 limit, target monthly billed amounts of ₹15,000 or less.

Cash advance limit is usually 20% to 40% of total credit limit, with a 2.5% fee per transaction.

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Commonly Asked Questions

Q. What credit limit can I expect?

A. For ₹3 to ₹6 LPA income, starting limits range from ₹25,000 to ₹1,00,000.

Q. When can I get a credit limit increase?

A. After 6 to 12 months of regular usage.

Q. What is the cash advance limit?

A. 20% to 40% of total credit limit, with a 2.5% fee.

How to Apply?

You can apply for the ICICI Platinum Chip through the ICICI Bank website, partner platforms like BankKaro, or by visiting any ICICI branch.

The online application via icicibank.com is the most common route. Visit the credit cards page, select Platinum Chip, click Apply Now, and fill in PAN, Aadhaar, date of birth, employment type, and monthly income. Upload digital copies of PAN, Aadhaar, salary slips or ITR documents, and address proof.

ICICI runs a bureau check followed by internal verification. The initial decision usually comes within 1 to 3 working days. If approved, you complete video KYC. The physical card is dispatched within 5 to 10 working days.

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