Times Black ICICI Bank Credit Card: A Look at the Premium Perks
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The Times Black ICICI Bank Credit Card is a stylish metal card created by ICICI Bank and Times Internet Limited. It's designed for people who want to enhance their lifestyle and travel experiences. Although it has a high annual fee, the exclusive benefits may make it worthwhile.
Key Benefits and Features
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Joining & Renewal Bonuses: When you sign up, you receive perks worth over ₹20,000 each year. This includes a ₹10,000 gift card for a luxury stay with EaseMyTrip, ₹10,000 in travel visa benefits through Atlys and OneVasco, and an annual Zomato Gold membership. You also get exclusive access to The Quorum Club.
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Travel Perks: Cardholders enjoy unlimited free access to airport lounges in India and abroad. The forex mark-up fee is low at 1.49%, making it great for frequent international travelers.
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Milestone Rewards: You can save up to ₹70,000 a year based on your spending, earning rewards like luxury airport transfers and gift cards from premium retailers like Tata CLiQ Luxury. Plus, if you spend ₹25 lakh in a year, your annual fee can be waived.
Other benefits
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The joining and annual fee is ₹20,000 + GST. You earn 2% rewards for spending in India and 2.5% for international purchases. However, you can mainly redeem rewards for products, vouchers, or cashback, not air miles like with some other premium cards.
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The card has a low forex mark-up of 1.49% for foreign transactions, making it good for international travel.
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You can avoid the annual fee if you spend ₹25 lakh in a year. There are additional rewards, offers, and travel vouchers available.
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You earn 2% Reward Points on domestic spending and 2.5% on international purchases. There are no fees for cash withdrawals. Unlike many cards, this one lets you earn rewards on utilities, insurance premiums, education, and government payments. You can redeem points for products or vouchers at a value of ₹1 per point.
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The Times Black ICICI Bank Credit Card offers comprehensive insurance coverage. Specifically, it includes comprehensive travel coverage with zero charges on flight or hotel bookings.
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CribLife offers lifestyle management services, plus exclusive access to events and dining. The card also includes excellent insurance coverage and a 1% fuel surcharge waiver.
Fees and Charges
- Joining Fee: ₹20,000 + GST
- Annual Fee: ₹20,000 + GST (waived if you spend ₹25 lakh in a year)
- Forex Mark-up Fee: 1.49% + applicable taxes for foreign transactions
- Finance Charges: 3.67% per month (around 44% per year)
- Cash Advance Fee: None
- Late Payment Charges: Vary based on the amount owed, with different fees for different tiers.
How to Apply
- You can apply online for the Times Black ICICI Bank Credit Card by visiting the official bank's website.
- If you are an existing ICICI Bank customer, you can also contact your Relationship Manager to express interest in the card.
Conclusion
The Times Black ICICI Bank Credit Card is a great option for those who can make the most of its milestone and renewal benefits. It’s particularly attractive for heavy spenders and those who enjoy travel and exclusive experiences.
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