How does it feel when you can get almost many premium features at a minimum fee? Yes, it is the truth! Only Rs 500 can enable you to get 3 free lounge access every year, huge discount on entertainment and of course a lot of rewards. But there is no compromise you have to do with the security in return for those facilities! Overall, the credit card is very beneficial for middle as well as lower-class family. Scroll down to read “ICICI coral American express credit card review” to know more.
- Exciting travel benefits and rewards programs are the salient features.
- The annual fee is less – it is only Rs 500, which is similar to the normal credit card.
- Priority pass membership and lounge access are also good reasons for applying.
- 25% discount on movies booked from BookMyShow and INOX.
- The embedded microchip provides additional security against fraud.
- No charges are applied to refuelling costs.
The rewards are quite disappointing because, at a similar level, there are credit cards that offer a bit better than ICICI coral. Still, we have a mood to check out the rewards program.
Who should opt for this card?
I am really amazed at the ICICI bank for introducing this credit card. It is neither a premium credit card nor for a lower-class family. I think they have mixed these two things to make an equilibrium state. Because there are lounge access and priority pass like premium benefits, the fee is meagre.
So, middle-class family can apply for this card. Clearly, the income constraint in the eligibility criteria supports this statement. People who travel, visit restaurants but not frequently are really benefited from this card. The discounts are quite good for them. The most thing of concern to them is the fees and the security. I am happy with the fees and the higher PIN-enabled microchip embedded security that they provide. So, if your monthly income is not too much, you can apply for this card.
As the card is not a premium one, fees are not too much to bear. But I am really astonished to see that there is an extra fee charged for reward redemption. It is really an extra burden because one may not redeem a reward at a time. So, every time he or she wants to redeem, the charges are applied.
Features And Benefits
As you expected, being a mid-premium credit card, the benefits are quite good as the premium one.
1. Rewards program: As you have noticed in point 1, the rewards are quite good. In many fields, you have the opportunity to get the rewards – be it online or offline shopping, flight booking, hotel booking, and anything you like!
2. Enjoy dining discounts: The most important point should be this. Because you will get 15% at the restaurants inside India, the dining offers are under the Culinary treats program.
3. Lounge access: Another premium feature is priority pass and lounge access in selected airports. You will get 1 complimentary lounge access every quarter of a year. You can check the official site for various lounge access programs. But you have to expense a minimum of Rs 5000 or more in a quarter. And another constraint is – only primary cardholders can enjoy this feature – no way for the add-on card members!.
4. Enjoy Movies with a 25% discount on ticket fare from esteemed cinema halls like INOX or BookMyShow. But you have to purchase a minimum of 2 tickets. And you will get only two opportunities to enjoy this offer.
5. The fuel charge is waived: If you refuel from the HPCL pumps with an expense value of Rs 4000, you do not have to pay anything. But there should be an ICICI merchants service swipe machine.
6. Don’t compromise with security: A microchip inside the credit card provides tight security against fraud. For every transaction you are making – you are bound to enter a PIN, whatever the amount.
7. Save more in a year: You can save up to Rs 19087.5 every year by getting rewards and discounts. Here we present how these total savings come from.
If you add those, you will get the total amount of Rs 19087.5 as savings.
Here, we are going to discuss some special benefits that are provided by credit cards.
- ‘ezeClick’ facility from American express: Comprising with high security, there is an easy online payment system where you always need to fill up the whole card details during payment. Only a single user ID is sufficient.
- Shipping partner at MyUS.com: While ordering your products from abroad, you will get a 30% discount and 2-year membership.
- Shipping partner at eshopex: Without paying any annual fee, you are eligible to avail 30% discount and an Amazon gift voucher worth $15.
- Shipping partner at bongo: You will get 50% off on first-time shipping and a 20% discount from next time shipping.
Why is this credit card better than others?
Of course, there is some reason behind this claim. Check it out:
Eligibility Criteria And Documents Required
Seriously, the simplicity of the eligibility criteria will attract many people.
- You have to be an Indian.
- Your age should range between 21 to 65 years.
- Surprisingly, the monthly income requirement is not disclosed by the bank. It can be known at the time of applying.
- A proof of identity, proof of address/residence is sufficient for applying for this card.
You can choose anyone for each case from the below list:
- AADHAR card, PAN card, Voter card slip, driving license – for identity proof.
- Ration card, water bill, gas connection bill, the electric bill – for address proof.
There are similar credit cards available for competition. Let’s check them out.
How to apply for this card?
I hope that, after reading up on this, you have decided to apply! But don’t know how? Let me know you.
- Go to the official www.icicibank.com.You will find some questions are asking for details. Fill very carefully.
- In the second step, you have to fill in some other fields – mobile number, PAN number, pin code, Net annual income, and so on. Keep all the documents ready in your hand to avoid an error.
- Fill the forms very carefully. And also, read all the disclaimer terms and conditions before applying.
I am not describing all the points for applying for the card. It is a straightforward process. Fill in the form and enter into the next step by clicking the “save” or “next” button, which usually appears at the bottom of the page. Remember- forms will be rejected in case of any false information.
Frequently asked questions
Here is the time for doubt- clearing!
1. Is auto-debit functionality supported?
Ans: Yes, ICICI bank allows auto-debit facilities to their customers. But you have to clear the due amounts before using the facility.
2. What is the credit limit of ICICI coral cards?
Ans: Every time this question comes to your mind, you should remember that not only for HDFC – any bank does not disclose it. The only reason behind this is that the bank will decide this by seeing your credit performance.
3. What is the grace period?
Ans: On the official site, it is clearly mentioned that the interest-free period or grace period is up to 50 days.
4. Can I waive the annual fee?
Ans: Yes, of course, you can! You can waive off the annual fee by expensing a total of Rs 2 lakh in a year.
5. Does all the e-commerce websites accept HDFC Diners Club credit card?
Ans: Of course, online platforms like Amazon, Flipkart accept any credit cards.
6. What is the minimum due amount that has to pay?
Ans: It is clearly mentioned in the credit card statement that you have to pay a minimum of 5% of the total amount.
Here, the time comes for the conclusion. After the long discussion of facilities and disadvantages, one question comes to our mind: “whether should I apply for the card or not?” See, nothing can be facilities or disadvantages to you if you are not that type of user. For example, you are happy with the traditional cash payment system.
The usage of a credit card seems to be an extra burden for you. Maybe you are not that frequent customer and have not faced any issues over the transaction till now. Then why should you use a credit card? Because, unlike others, this credit card does not provide any rewards in the offline market. You love watching movies – visit the cinema hall frequently.
Security may be a top priority for you. Questions arise only when you are searching for the best card that will provide you with top-notch security. Considering all the situations, this credit card really holds smart value for a mid-budget and low–budget regular customer. As you have seen before, it offers great security.
I hope you have cleared all your doubts by reading this article. Thank you and see you again later!