ICICI Coral Credit Card

The Coral Credit Card, which is part of the bank’s Gemstone Collection, has gained popularity ever since it was introduced because of its alluring benefits package that includes free travel, rebates, and awards. The Coral Card is a comprehensive product portfolio that will also appeal to customers who want to maximise their rewards on all of their expenses, including travel, dining out, and entertainment. 

Let’s cover all the details you need to know about the ICICI Bank Coral Credit Card, including its benefits, rewards, fees and more.

ICICI Coral Credit Card Benefit and Key Rewards:

• Reward Points: You are rewarded with 2 points for every Rs 100 spent at the store.
• Milestone Benefits: Get up to 10,000 bonus reward points every year.
• Travel Perks: The option of using domestic airport and railway lounges for free at least once within the course of a quarter.
• Entertainment Discounts: 20 % discount on movie tickets at BookMyShow and Inox.
• Dining Offers: 15% discount in more than 2,500 quality outlets including restaurants and other eating places.

Fees and Charges

• Annual Fee: Rs. 500 + GST (if you are spending over Rs. 1. 5 lakh in the previous year, GST is not charged)
• Supplementary Card Fee: Nil
• Overdue Interest: 3. 40% per month (40. 80% on an annual basis)
• Cash Advance Fee: 3.40% of the amount withdrawn + GST
• Fuel Surcharge Waiver: 1% on transactions up to Rs. 4,000 at HPCL outlets

Product Details

1. Customers can now earn up to 2 reward points on every Rs. 100 spent on qualifying transactions.
2. Claim additional bonus reward points based on the spending achieved within an anniversary year.
3. Avail free domestic airport and railway lounge pass up to once in three months.
4. Grab 25% off on movie tickets on BuyOathy and Inox now.
5. Avail a 1% fuel surcharge on the transaction up to Rs 4000 at HPCL outlet.

ICICI Bank Coral Credit Card: Advantages and Disadvantages

Advantages

• Travel Perks: For each calendar quarter, the proposed clients are also provided complimentary airport and railway domestic lounges.
• Entertainment Discounts: Get a 25% discount on BookMyShow & Inox movie tickets.
• Dining Offers: Get fabulous savings with more than 2,500 upscale restaurants accepted into the program.
• Fuel Surcharge Waiver: A 1% fuel surcharge on all transactions up to Rs 4000 can be enjoyed by every customer at petrol pumps under HPCL.
• Annual Fee Waiver: The annual fee can be waived for spending Rs. 1.5 lakh or more in the previous year.

Disadvantages

• Limited Travel Perks: The card only has domestic lounge access whereas there is no international lounge access during this type of card.
• Lower Reward Rate: As far as credit cards are concerned, the reward rate of 2 points for each Rs. 100 spent is comparatively low to some other cards.
• No Welcome Offer: Unfortunately, there are no bonuses such as its first deposit bonus or any other bonuses for players using the card.
• Limited Insurance Benefits: The card has no provision of insurance in any way.

ICICI Bank Coral Credit Card Reward Offers

• Reward Points: With the exception of fuel, you can receive up to two reward points for every Rs. 100 spent on eligible products. 
• Milestone Benefits: Spending milestones within a year provides an opportunity to gain bonus reward points.
  • If one spends Rs. 2 lakh then, he will get 2000 bonus points.
  • Additional Rs. 1 lakh spent will be worth 1,000 points.
  • The maximum bonuses, that can be earned by a program member, are up to 10,000 program points per year.
• Reward Redemption: You can now redeem your points for cash back, gifts, vouchers and several other merchandise.
• Fuel Surcharge Waiver: Owners of HDFC credit cards in Central, West, and South can receive a 1% fuel surcharge reduction at HPCL gas stations up to Rs. 4,000.

Entertainment Benefits of ICICI Bank Coral Credit Card

• Movie Discounts: Get 25% off up to Rs. 100 on all movie tickets booked through BookMyShow. It is offered bi-monthly, which means you will be able to save up to Rs. 2,400 per year.
• Wide Range of Cinema Options: Get discount vouchers for different cinema theatres including Inox Crazy so that you have a choice on which cinema to watch.

Why Choose the ICICI Bank Coral Credit Card?

1. Rewarding Everyday Spending: Get up to 2 reward points for each Rs. 100 spent Plus, redeem it in cash or gifts or any category, so your every purchase adds to the rewards.
2. Exclusive Entertainment Discounts: Get movie tickets at a 25% discount twice every month for the ever-busy movie lovers through BookMyShow.
3. Travel Perks: Second, be able to access Domestic airports and railway lounges free of charge making your travel more relaxing.
4. Dining Privileges: Enjoy up to 15% off over 2500 plus premium restaurants in India giving you a good chance to save on your dining bill.
5. Fuel Surcharge Waiver: Enjoy a 1% fuel surcharge rebate at all HPCL petrol pumps, thus bringing down overall fuel costs.
6. Affordable Fees: These include the joining fee and renewal fees that can only be times when a specified amount is charged; therefore, making the card economical.

Who Can Apply for the ICICI Bank Coral Credit Card?

Age Criteria:

• Primary Cardholder: Must be at least 23 years old.
• Supplementary Cardholders: Must be at least 18 years old.

Income Requirements:

• Salaried Individuals: The primary cardholder also needs to have a net annual income which must be Rs. 5 lakh or above, as per ITR or salary structure.
• Self-Employed Individuals: The same as with the foregoing paragraphs, the income limit remains the same, and the proof to be submitted is the copies of the latest ITR filed.

Credit Score:

• There are standard measures that the applicants have to meet to make the requisite grade to be approved and such include a credit score of 700 and above.

Employment Status:

• The applicant should be employed or earn income through wages or salary and this could be in the form of wage employment.

Documentation Needed for ICICI Bank Coral Credit Card

Identity Proof:

• The list of KYC-compliant photo identity proofs includes PAN Card, Aadhaar Card, Voter ID, Passport, or Driving licence.
• Make sure that you produce a valid photo identification with the identification being an official government ID.

Address Proof:

• Users have to submit other supporting documents for ID proof which may include: an Aadhaar Card, Passport, Utility Bill or Driving licence.
• Your application should reveal your current residential address, and this must be legible in the document.

Income Proof:

• For salaried individuals: Recent salary slips or Form 16 should be submitted.
• For self-employed individuals: Latest ITR to be submitted, scanners to be uploaded.
• The amount of fixed monthly income considered necessary is fifty thousand Rupees per annum.

Photographs:

• East passport-sized photographs may be required during the application process and photographs should be taken within three months.

Application Process for ICICI Bank Coral Credit Card

• Visit ICICI Bank Website: Visit the main page of ICICI Bank and in the list of their offerings scroll down to find the Coral Credit Card.
• Click “Apply Now”: On the screen, you will see the “Apply Now” button, clicking on which will get the applicant into the online application stage.
• Fill Out the Form: Of the company information to be provided whether required, personal details, contact information, and other business and financial details, should be provided.
• Submit Application: In one case, they include the general details and the another one, they just include an application form which is filled out online and submitted.
• Verification & Approval: Once the user registers, the details entered shall be verified by the ICICI Bank and the Coral Credit Card shall be delivered to the address disclosed by the user in the long run.

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