Latest ICICI Credit Card Rules 2024: THESE Changes Will Kick In From November 15

New Delhi: Private sector lender ICICI Bank has informed the customers regarding the upcoming changes in ICICI Bank Credit Card with effect from November 15, 2024.

Here are the new rules that will be applicable from November 15 for ICICI Credit Card holders:

1. 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.

2. 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

3. 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.

4. No fuel surcharge waiver beyond INR 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

5. No fuel surcharge waiver for spends beyond INR 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.

6. Spa Discontinuation

The Spa access provided basis DreamFolks card is now being discontinued

7. 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.

8. 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.

9. 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 third party apps.

10. 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

11. 1% fee for fuel transaction>10K 

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

12. Add-on Fee INR 199 

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

13. Late Payment Charges Change

Late payment charges will be revised according to the new structure.

Outstanding Amount Late Payment Charge (INR)	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

14. INR 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.

15. 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)

16. 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%.