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ICICI Credit Cards Fees And Other Charges

Credit cards have become an indispensable financial product for many consumers. Finding the best ICICI credit card for you can be difficult with so many possibilities. It is easy to apply for ICICI credit card. After availing a credit card, you should pay certain fees and charges like joining fees, annual fees, late payment fees, charges of interest, etc.

Let’s check out the ICICI credit card fees and charges for various cards, so that you can find the ideal credit card. 

ICICI Credit Card Annual Fees

To keep your account open, the credit card issuer charges an amount each year as annual fees. The amount deducted from your account as the annual fee, provides you the benefits that come with your credit card. If the annual fee is higher, then more will be the credit card benefits.

You will pay the annual fee as a one-time charge on your credit card during a specified month of the year. This could be on the card's anniversary day or at the start of the calendar year. Some credit card issuers charge the fees monthly and some annually.

The credit card issuer is legally required to disclose all annual fees at the time of application itself.

Annual fees are not included in any interest payments you may make on your account. Whether or not you have a balance on your card, they will be charged.

Types of Fees And Charges on ICICI Credit Cards

Credit cards have certain fees and charges applicable along with the benefits. Let's look at the six common ICICI credit card charges:

Type of fees and charges

Description

Basic charges

Joining fees

The membership fee you pay as a one-time cost of ownership. An annual fee is frequently added after the membership fee. ICICI Bank does not charge an annual fee for the first year.

 

Rs. 500 + GST

Charges of Interest

If you are unable to pay the entire amount by the due date, interest charges will be levied on all new transactions and outstanding dues.

 

3.40% onwards

Late payment fees

If you are unable to pay the full amount due, the bank will declare a minimal amount to be paid. ICICI bank will charge you a late payment fee if you do not pay the minimum amount.

  • Amount under Rs. 500 - Rs. 100
  • Amount under Rs. 5000 - Rs. 500
  • Amount under Rs. 10000 - Rs. 750
  • Amount under Rs. 10000 - Rs. 750
  • Amount under Rs. 25000 - Rs. 900
  • Amount under Rs. 50000 - Rs. 1000
  • Amount above Rs. 50000 - Rs. 1200

International transactions fees

An additional transaction cost is charged for each swipe on your card in a foreign nation. It is charged as a percentage of the transaction amount. ICICI credit card international transaction charges are one of the lowest in the market.

 

 

 

3. 50% onwards

Over-limit charges

If you spend more than the credit limit, the bank will charge you an over-the-limit fee.

 

2.50%

 

Charges and Fees of Top ICICI Credit Cards

Here is a list of all fees applicable on the top ICICI credit cards currently available.

 

ICICI Bank Card Variant

 

Joining Fee (1st year)

 

Annual Fee (1st year)

 

Annual Fee (2nd year onwards)

 

ICICI Bank British Airways Classic Credit Card Account

Rs. 3500

Rs. 3500

 

ICICI Bank Signature Credit Card

 

Rs. 25000

 

 

Rs. 2000

 

ICICI Bank British Airways Premium Credit Card Account

Rs. 7000

Rs. 7000

 

ICICI Bank Singapore Airlines VISA Platinum Credit Card

Rs. 6000

Rs. 6000

 

ICICI Bank Kingfisher Airlines MasterCard World Credit Card

Rs. 5000

Rs. 2500

 

ICICI Bank Kingfisher Airlines MasterCard Platinum Credit Card

Rs. 2000

Rs. 1000

 

ICICI Bank Ascent American Express (R) Credit Card

Rs. 4000

Rs. 1000

 

ICICI Bank HPCL Titanium Credit Card

Rs. 500

Rs. 500

 

ICICI Bank Kingfisher Airlines MasterCard Titanium Credit Card

Rs. 500

Rs. 500

 

ICICI Bank HPCL Platinum Credit Card

Rs. 500

Rs. 500

 

ICICI Bank American Express Gold Credit Card

Rs. 499

Rs. 499

 

ICICI Bank Platinum Identity Credit Card

Rs. 2000

Rs. 750

 

There are zero charges for availing supplementary cards of these ICICI credit cards.

Different ICICI Bank Credit Card Charges

Here is a list of all other fees and charges applicable on the ICICI credit cards available now.

Fees and charges

Description

Cash advance – transaction fee

2.50% on advanced amount on all cards, subject to a minimum of Rs. 300.

Late payment charges

30% of minimum amount due

Return of cheque

Rs. 250 per returned cheque

Over-limit charges

2.50% on the over-limit amount

Card replacement fee

Rs. 100

Fee on cash payment at branches

Rs. 100 per payment transaction

Dial-a-draft – transaction fee

3% of the draft value amount on all cards, subject to a minimum of Rs. 300

Outstation cheque processing fee

1% of the cheque value, subject to a minimum of Rs. 100

Duplicate statement request

Rs. 100

Foreign currency transactions

Mark-up of 3.50%

Cheque or Cash pick-up fee

Rs. 100/pick-up

Auto-Debit return fee

Rs. 250/Auto-Debit return

Charge slip request

Rs. 100/charge slip

 

How To Avoid Late Fee Charges On ICICI Credit Cards?

  • Subscribe to auto-debit service

If you subscribe to an auto-debit service provided by ICICI Bank, they will deduct funds from a cardholder's account on a predetermined date. If you enrol in this autopay service, the risk of missing a payment deadline will be reduced. For the auto-debit to take place, you have to keep enough money in the bank account.

  • Make a list of reminders

Another technique to remember credit due dates is to set calendar reminders and internet alerts for at least four to five days before the due date. These alerts and reminders will warn you and also allow you to avoid late payments.

  • Make an advance payment

While choosing a payment option, it is important to think about the processing time. Online payments take a few hours to one day for clearing. Cash payment at a bank branch, usually costs an amount as service charge though the payment will be reflected more quickly.

The time it takes for a payment to appear on a credit card account varies depending on the payment option. As a result, making the payment ahead of time is critical to prevent missing the deadline.

  • Pay the minimum amount due

If you are unable to pay the whole amount on the due date, you should pay at least the minimum amount due fixed by the bank. This will help you avoid late payment fees. In addition to this, you can avoid paying a higher interest rate.

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FAQs About ICICI Credit Card Charges

✔️Are there any charges for ICICI credit cards?

A credit card does not have to be expensive but using one for free demands discipline. Choosing a credit card with no annual fee is the first step toward avoiding credit card charges. There are no yearly fees with the Amazon Pay ICICI Credit Card.

✔️What are the different fees & charges on ICICI credit cards?

The most typical ICICI credit card fees are joining fee, annual fee, cash advances fee, balance transfer fee, late payment fees and foreign currency transactions charges.

✔️What to do if you are unable to make ICICI credit card payments before the due date?

You will have to pay a late fee if you pay your bill after the due date. The late fee would be charged by the bank in your next credit card bill. ICICI credit card late payment charge is 30% of the minimum amount due.

✔️What is a cash advance? Are there any charges on this?

A cash advance is where you use your credit card to withdraw cash. Every bank charges a particular percentage of the amount withdrawn as the cash advance fee.

✔️Are there any ICICI Bank credit card late payment charges?

Yes. It is 30% of the minimum amount due.

✔️Are there any ICICI credit card over limit charges?

Yes. The over limit charges for ICICI credit card is 2.50% of the over-limit amount.

✔️Are there any ICICI credit card EMI charges?

Yes. ICICI credit card EMI charge is 1.33% per month on a monthly reducing balance basis.