ICICI Bank Coral Credit Card Review – ICICI Coral credit and debit cards are one of ICICI’s market-leading products. I prefer the Coral credit card over the ICICI Platinum credit card because of the complimentary lounge access.
Even though it is not a Visa signature variant, coral cards provide complimentary access to Visa-affiliated lounges. ICICI website interface for displaying credit card features and benefits is extremely perplexing. They never seem to know what makes a good web design. They will most likely need to learn from HDFC.
ICICI Coral Credit Card Rewards
- 4 Payback points on every Rs.100 spent on dining, groceries and at supermarkets (well, who needs?).
- 2 Payback points on every Rs.100 spent elsewhere.
This gives you a reward rate of only 1% and 0.5 percent (1 Payback point = Rs.0.25), respectively. In comparison to HDFC and Amex cards, ICICI reward rates are extremely low. In fact, their top-tier premium card, the ICICI Bank Diamant Credit Card, has a reward structure that is completely useless.
On American Express variants of coral cards, you can earn a few more reward points. Whatever the case may be, they pale in comparison to other banks’ semi-premium credit cards.
ICICI Bank Coral Credit Card Features
- Card Expert Rating: 2.5/5
- Reward Rate: 0.50% to 1% as Payback Points
- Fuel Surcharge Waiver: 2.5% fuel surcharge waiver can be availed on fuel transactions of maximum ₹ 4,000 per transaction at HPCL pumps, when swiped on ICICI Merchant Services swipe machines.
- Renewal Fee Waiver: Spend ₹ 1,25,000 or more annually, for renewal fees to be waived off.
- Complementary Airport lounge access: Yes, 2 complimentary Visits per quarter to Visa Lounges (for Visa Card holders) and Master Card lounges (for Mastercard Holders)
- Special Features: BookMyShow Buy1 Get 1 Offer. (Hard to avail though)
- Foreign Exchange Markup fee: 3.5% + Service Tax
As you can see, the features aren’t particularly appealing. They were able to do some nice promotion campaigns to keep business going simply because they integrated a payback reward system into their platform. The only ICICI Bank Sapphiro Credit Card worth having is the Jet Airways ICICI Bank Sapphiro Credit Card, which gives 5 JP Miles for every Rs.100 spent (domestic).
I’m even interested in their new ICICI Ferrari Credit Cards, but they never explain what they mean by “Top Spender” in order to take advantage of the benefits. This is the worst way to introduce such cards. As a result, a Visa Signature card loses its value.
Eligibility and Documents Required For ICICI Bank Coral Credit Card
Eligibility For ICICI Bank Coral Credit Card – To be eligible to apply for an ICICI Coral Credit Card, you must first meet the bank’s basic eligibility requirements. Age, location, occupation, and income are among the parameters. The requirements may differ from one card to the next.
If you meet the basic requirements and your application advances to the next stage of screening, your credit profile, payment history, and other factors will be considered.
Documents Required For ICICI Bank Coral Credit Card –
- Proof of Identity
- PAN Card
- Aadhaar Card
- Passport
- Driving License
- Voter’s ID Card or Any other government approved photo ID
- Proof of Address
- Aadhaar Card
- Passport
- Utility bills (not more than 3 months old) or Any other government approved address proof
- Proof of Income
- Bank statement for the last 3 months
- Salary slips for the last 3 months
- Audited financials for the last two years (for self-employed) or Form 16
ICICI Bank Coral Credit Card FAQs
What is the credit period for ICICI Bank Coral Credit Card?
Credit free period of 48 days depends on your statement date.
Are there any interest charges on my ICICI Bank Coral Credit Card?
There are no interest charges if you make a payment for the Total Amount Due before the Payment Due Date. As a result, you can get interest-free credit from the time you buy something to the time you pay it off. The interest-free period could last anywhere between 18 and 48 days.
If you do not pay the Total Amount Due from the previous month statement by the payment due date, you will be charged interest. Until all previous outstanding amounts are paid in full, interest will be charged on the Total Amount Due and on all new transactions. In addition, from the date of the transaction until the date of settlement, interest will be charged on all cash advances.
Can we purchase a watch on ICICI coral credit card?
Yes, You can shop online to buy any type of Watch.
What if I cross credit limit on my ICICI Bank Coral Credit Card ?
If you make a transaction that exceeds your credit limit, ICICI Bank will decide whether or not to approve the transaction based on its discretion. If the transaction is approved, the card account will be charged an over-limit fee. The over-limit fee is 2.5 percent of the amount that exceeds the credit limit (subject to a minimum charge of Rs.500).
