Credit Card New Rules: The bank has made significant changes in the credit card rules, which will be effective from November 15. These include changes related to airport lounge access, utility payments, supplementary card charges and other services. Let’s take a look at these new rules:
1. Airport Lounge Access Rules
ICICI Bank has increased the minimum spending limit for complimentary airport lounge access to Rs 75,000 per quarter from Rs 35,000 earlier. This limit will apply to various ICICI credit cards such as HPCL Super Saver Visa, Coral, Rubix, Saphiro and Adani One Signature Credit Card, among others.
2. Reward cap on utility and insurance payments
Premium credit card holders (such as Rubix, Saphiro, Emerald Visa) will get reward points on utility and insurance payments up to a maximum monthly spend of Rs 80,000. For other card holders, this limit has been kept at Rs 40,000 monthly spend.
3. Rewards cap on grocery and departmental store spending
Premium card holders will be able to earn reward points on monthly spends of up to Rs 40,000 on groceries, while the limit for other cards is Rs 20,000.
4. Fuel surcharge waiver rules
The bank will waive fuel surcharge on fuel transactions up to Rs 50,000 per month for all card holders. For Emerald Mastercard Metal credit card holders, the limit is Rs 1 lakh per month.
5. Certain payments will not be included in the spending limit
Rent, government, and education payments will not be included in the spending limit for annual fee reversal and milestone benefit. Additionally, the annual fee reversal limit on Emerald and Emerald Private Metal cards has been reduced from Rs 15 lakh to Rs 10 lakh.
6. Airport spa facility discontinued
ICICI Bank has discontinued the spa service offered through the Dreamfolks card. This facility was available to Sapphiro, Emerald, Adani One Signature and Emirates Emerald card holders.
7. Annual fee for supplementary card holders
Supplementary card holders will now be charged an annual fee of Rs 199, which will be included in the statement of the card anniversary month.
8. Charge on education and utility payments on third-party apps
A 1% charge will be levied on educational transactions made through third-party payment apps like CRED, Paytm, Cheq, and MobiKwik. However, there will be no charge for making payments through the college or school website or POS machine. Apart from this, a 1% surcharge will also be levied on utility transactions above Rs 50,000.
All these new rules will come into effect from November 15, so ICICI Bank credit card holders should plan their expenses keeping these changes in mind.
