MakeMyTrip ICICI Bank Credit Card

Siddarth

ICICI Bank and MakeMyTrip have completely updated their co-branded credit card. The new MakeMyTrip ICICI Bank Credit Card offers "better value" and "better rewards" on travel spending, improving on the old MMT ICICI Platinum and Signature cards, which are no longer available.

Key Benefits and Features

Great MyCash Rewards: You can earn up to 6% MyCash on hotel bookings, 3% on flights and holiday packages, and 1% on other MakeMyTrip expenses. Plus, your MyCash points never expire and are worth ₹1 each!
Dual Network Support: It works with both Mastercard and RuPay, making UPI payments easy and ensuring smooth international transactions.
Low Forex Markup: If you're traveling abroad, the foreign exchange markup is just 0.99%, which is much lower than what many other cards charge.
Welcome Perks: Get a ₹1,000 voucher for MakeMyTrip and 12 months of free MMT Black Gold Membership when you pay the joining fee.
Travel & Entertainment Perks: Enjoy free access to domestic and international airport lounges every year. Plus, there's a great deal on movie tickets where you can save 25% on your second ticket, with a maximum discount of ₹100, twice a month.

What's Good About the New MakeMyTrip ICICI Bank Credit Card

Most rewards have no limit, so you can earn as much as you spend.
It works with both Mastercard and RuPay for easy transactions.
The foreign exchange markup fee is only 0.99%, which is a great deal!
You receive a welcome voucher worth ₹1,000 and a free year's membership.
You get access to 8 domestic and 1 international airport lounges each year.
There are discounts on movie tickets through BookMyShow and INOX.
It's perfect for frequent MakeMyTrip users to save more money.
Ideal for travel lovers, offering excellent rewards and benefits.

What to Keep in Mind

The card costs ₹999 plus GST to obtain and keep each year.
You can avoid the annual fee if you spend over ₹2.5 lakh in a year.
There’s a 1% fee on fuel purchases, and unfortunately, there are no waivers for that.
If you miss a payment, expect a high interest charge of 3% monthly (36% annually).
Cash advances from ATMs come with a 2.5% fee on the amount withdrawn.
You won’t earn rewards on rent, cash withdrawals, fuel, EMIs, gambling, or government payments.
You can earn up to 1,000 MyCash points a year on insurance payments.
The forex markup is low at 0.99%, but it's still there.

Eligibility & Documents Needed

You’ll need a steady monthly income.
ID Proof (like an Aadhaar Card).
Proof of Address (an Aadhaar Card works again).
PAN Card.
Proof of Income (you might skip this if you have a strong credit score).
A mobile number linked to your Aadhaar for online sign-ups.

Fees & Charges

Joining and Annual Fee: ₹999 plus GST.
You can avoid the annual fee if you spend ₹2.5 lakh or more in a year.
Forex Markup Fee: A low 0.99% on international spending, better than the usual 3% or 3.5% with other cards.
Interest Rate: Monthly interest is 3%, which totals 36% annually. Some sources say it's 3.67% monthly.
Cash Advance Charges: 2.5% of the amount you withdraw.
Fuel Surcharge: You’ll pay a 1% surcharge plus GST on fuel purchases, with no waivers.

Conclusion

Overall, the new MakeMyTrip ICICI Bank Credit Card is a great choice for regular travelers. It offers higher rewards, lower foreign exchange fees, and support for UPI payments. This card gives you more value for your money compared to the old Platinum and Signature versions. Enjoy the travel benefits!