Rewards Program - Unattractive

ICICI Rewards program on Credit Cards is unattractive compared to others.

• Gold and Silver credit cards [which most consumers hold], earn 1 reward point on every Rs. 200 spent.
• Platinum and Titanium Credit Card, earn 1 Reward point on every Rs. 100 spent.

Additionally, for co-branded cards, you continue to earn points in a somewhat better way - For Example co-branded cards of Amway will fetch you 1 point for every Rs 150 spent.

So to accumulate 1,000 points on Gold / Silver Credit Card, you need to spend a whopping Rs 200,000 on card or over 16,700 / month which is more than double the average balance on Credit Cards across the industry.

Indigo Airlines vouchers with Debit Card

ICICI Bank has written to us about a Special Monsoon Offer - Free Indigo Airlines vouchers worth Rs 2000 with your ICICI Bank Debit Card.

The voucher will be given every day to the person who spends maximum during the day with ICICI Bank Debit Card. You could be the winner! What you should do is club all the purchases you want to make on single day and do it. You never know, you could be that highest spender and hence the winner. W have recommended ICICI to issue a Winner region wise every day so that it is more attractive to consumers.

So hurry, make the most of your Debit Card, today!

Offer valid till August 31, 2009.

5% cash back at HPCL with Debit Card

Debit Cards are gaining lot of popularity post economic crisis. We have been just a while ago informed by ICICI Bank about a special offer beginning tomorrow.

Now, if you use your ICICI Bank Debit Card for just 5 non-fuel purchases in a month at any outlets, you get an assured 5% Cash Back on all fuel transactions you make for that month on ICICI Bank EDC machines at HPCL outlets.

If you have already used your Debit Card for fuel transactions this month, you can still avail of the 5% Cash Back on these transactions. All you need to do is use the card for 5 non-fuel purchases before the end of this month.

So, use your ICICI Bank Debit Card from June 1 to August 31, 2009 and save on your fuel costs.

• 5% cashback = 2.5% fuel surcharge reversal + 2.5% cash back
• Maximum Cash Back per customer - Rs 50 per customer and Maximum Fuel Surcharge per customer - Rs 50 per customer

Singapore Airlines Visa Platinum Credit Card

ICICI Bank has partnered with Singapore Airlines to launch the "ICICI Bank Singapore Airlines Visa Platinum Credit Card"

The features of the card, having an annual fee of Rs 6000, includes complementary membership to Singapore Airlines KrisFlyer Club and silver tier Hilton Honors Program, 5,000 KrisFlyer miles earned when used for the first time and up to 18 miles earned for every Rs 200 spent on the card, besides several other benefits.

The partnership is aimed at tapping the existing premiere customer base of both. Singapore Airlines has 80,000 Kris Flyer members in India and ICICI Bank has a credit card base of 7.5 million.

British Airways - AMEX Card

ICICI Bank in association with American Express [AMEX] have started issuing a co-branded British Airways card for frequent fliers and corporate executives.

Their are two variants of the card - Classic Card and Premium Card.

The ICICI Amex British Airways Classic card is eligible for persons filing an ITR of Rs 480,000 and above. You earn 2 BA miles for every Rs 100 spent through this card. You can earn upto 5 BA miles for booking BA flights with this card or shopping merchandise at BA. The card comes with a Rs 3,500 annual fee and a minimum credit line of Rs 100,000

While the ICICI Amex british Airways Premium Card is available for persons filing ITR of Rs 720,000 and above.You earn 4 BA miles for every Rs 100 spent on your everyday purchases. You can earn upto 9 BA miles for booking BA flights with this card or shopping merchandise at BA. The card comes with a Rs 7,000 annual fee and a Minimum Credit Line of Rs 150,000.

Other benefits applicable are 8,000 BA miles when you use the card for the first time. Earn 25,000 BA miles when you book and fly on a BA return ticket from India to England within the first 3 months of card membership. This is enough miles for you to secure a complimentary one-way ticket to London from India :-)

This card is most suitable for travelling executives / businessmen.