ICICI Bank Platinum Chip Credit Card – Rewards, Fees & Eligibility

Base reward rate: 2 pts/₹100
Redemption options: flights, cashback, vouchers
Redemption value: 1 Pt = ₹0.25

Rewards

Completely free with ₹0 joining fee and ₹0 annual fee, making it a true lifetime-free card.
Accessible to new credit users with a low minimum income requirement of ₹2.4L/year for self-employed and a CIBIL score range of 650-700.
Offers a direct 15% discount on dining bills at over 2,500 partner restaurants through the ICICI Culinary Treats Programme.
Provides enhanced security with Zero-Liability Protection against fraud and Purchase Protection against loss from fire or burglary.
Features a simple rewards structure of 2 Payback points per ₹100 spent, easy for first-time users to understand.

The base reward rate is very low, offering only 2 Payback points per ₹100, which translates to a value of just 0.5% (at ₹0.25/point).
The 2.5% fuel surcharge waiver is highly restrictive, applicable only at HPCL pumps on transactions up to ₹4,000 when using an ICICI swipe machine.
Carries a high foreign exchange markup fee of 3.50%, making it an expensive choice for international spending.
The interest rate on revolving credit is high at 3.75% per month, which annualizes to 45.00% p.a.

Individuals seeking a lifetime free, entry-level card to build credit history with simple rewards and dining benefits.