ICICI Bank Coral Credit Card
Product Details
Credit Card Name :
ICICI Bank Coral Credit Card
Bank Name :
ICICI Bank
Type :
Rewards Credit Card
Interest Rate :
3.50%p.m. and 42%p.a.
Eligibility :
Age:
Primary cardholder: Must be above 21 years old.
Supplementary cardholder: Must be above 18 years old (some variants might have a higher minimum age).
Nationality:
Must be an Indian citizen.
Occupation:
Salaried, self-employed, or professional.
Minimum Income:
This varies depending on your location and card variant. For example, in Indore, Madhya Pradesh, the minimum income requirement for the Coral Credit Card might be around Rs. 25,000 per month for salaried individuals and Rs. 40,000 per month for self-employed individuals.
Credit Score:
You should have a good credit score to be eligible for the card. ICICI Bank doesn't specify the minimum score, but generally, a score above 700 is considered good.
Pros
Rewards: Customers can earn 2 reward points, on every ₹ 100 spent on your card (except fuel), and 1 reward point, on every ₹ 100 spent on utilities and insurance categories.
Travel Benefits: Customers can avail 1 complimentary access, per quarter, to select airport lounges in India and one complimentary domestic railway lounge visit.
Movie Offer: Customers can also avail 25% discount, of ₹ 100 on BookMyShow and Inox.
Cons
Basic rewards: Compared to other cards, the 2x point rate is relatively low.
Limited lounge access: Only one visit per quarter might not be sufficient for frequent travellers.
Movie benefit restrictions: Applicable only twice a month with limited ticket value.
Pros & Cons
Welcome Benefits
None
Rewards System
Earn 2 Reward Points on every Rs. 100 spent on your card (except fuel).
Earn 1 Reward Point on every Rs.100 spent on utilities and insurance categories.
Under the new ICICI Bank Milestone Rewards program, get 2000 Reward Points on spending Rs. 2,00,000 on your card and 1000 Reward Points each time you cross Rs. 1,00,000 spend thereafter in an anniversary year; maximum of 10,000 Reward Points per year.
The value of 1 reward point for ICICI Bank Coral Credit Card is Re. 0.25.
Effective Cashback Rate: 0.50% to 1%
International Forex Markup
Up to: 3.5%
Welcome Benefits and Reward System
Special Features
One complimentary domestic railway lounge visit
Eligibility Criteria
Age:
Primary cardholder: Must be above 21 years old.
Supplementary cardholder: Must be above 18 years old (some variants might have a higher minimum age).
Nationality:
Must be an Indian citizen.
Occupation:
Salaried, self-employed, or professional.
Minimum Income:
This varies depending on your location and card variant. For example, in Indore, Madhya Pradesh, the minimum income requirement for the Coral Credit Card might be around Rs. 25,000 per month for salaried individuals and Rs. 40,000 per month for self-employed individuals.
Credit Score:
You should have a good credit score to be eligible for the card. ICICI Bank doesn't specify the minimum score, but generally, a score above 700 is considered good.
Benefits
Airport lounge access
Movie discounts
Personal accident insurance cover
Speical Feature, Eligibility and Benefits
How to apply for Credit Card?
Eligibility: You must be at least 18 years old with a regular source of income and meet the bank's minimum credit score requirements.
Apply online: Visit the ICICI Bank website (https://www.icicibank.com/personal-banking/cards/credit-card/coral-card) and fill in the application form.
Documents required:Proof of identity (PAN card, Aadhaar card, etc.)
Proof of address (driving license, utility bills, etc.)
Income proof (salary slips, ITR documents, etc.)
Processing & approval: The bank will process your application and check your credit score. You will be notified of the decision within a few days.Card delivery: Once approved, your card will be delivered to your registered address within 7-10 business days.
Contact Details
1800 1080
Account Opening and Procedure
ICICI Coral Credit Card
The ICICI Coral Credit Card is a decent entry-level option for individuals with moderate spending who value lounge access and basic rewards. However, its low reward rate and limited benefits might not be appealing to frequent travelers or high spenders. Consider your spending habits and compare with other cards offering higher cashback, specific category rewards, or better travel/dining perks for optimal value.
Abhijeet Saxena
Abhijeet Saxena
Nalsar University of Law
Ex- Senior Associate, Shardul Amarchand Mangaldas, Delhi
Ex - Khaitan & Co. Bengaluru,
Ex - National Stock Exchange, Mumbai,
Ex - Argus Partners, Mumbai
Product Review
Fees & Charges
Joining Fee: Rs 500+GST
Annual Fee: Rs 500+GST
Annual Fee Waiver: Rs 1.5 Lakh Spend
Interest Rates: 3.50%p.m. and 42%p.a.
Late payment charges: ₹ 100 per instance
Cash advance charges: 2.50% of the amount or ₹300, whichever is higher.
Fuel Surcharge
Surcharge waiver of 1% of transaction value on all petrol pumps on select cards.
Billing Cycle
30 Days