In this article, we will discuss about ICICI Bank’s Coral Credit Card from beginner to advance level. Now there are two such credit cards of ICICI Bank which you can get very easily, the first credit card of which is ICICI Coral Credit Card and the second credit card is ICICI Platinum Credit Card. Even if your CIBIL score is very bad or you have committed serious default, then in such cases the bank tells you that you can take a credit card against FD.
If your CIBIL score is very bad, then the bank gives you credit card only against Fixed Deposit (FD) and ICICI Bank will offer you only these two credit cards in such a situation. Now if your CIBIL score is even a little or very bad or your CIBIL score was never generated, then in that case also ICICI Bank will show you only these two credit cards. And if you are applying for ICICI Bank credit card for the first time, then in that case also there are chances that you will get the credit card from ICICI Coral Credit and ICICI Platinum Credit Card.
Otherwise, if you think that I should directly apply for ICICI Bank’s Amazon Pay credit card, then these premium category credit cards are rejected many times for beginner level people. Because you get more benefits in credit cards falling under these premium segments.
Both ICICI Coral and Platinum are very basic credit cards of ICICI Bank and you can get them easily. Now we will know the difference between these two cards and see that if these two credit cards are being offered to you by ICICI Bank, then which one should you select –
A Quick Overview of ICICI Coral and Platinum Credit:
Category | ICICI Coral Credit Card | ICICI Platinum Credit Card |
Joining Fee | ₹500 | NIL |
Annual Fee | ₹500 from second year onwards | NIL |
Annual Fee Waived Off | Annual spends of ₹1.5 Lakhs | NIL |
Reward Points |
|
|
Capped On Reward Points | 10,000 Reward Points per year | 10,000 Reward Points per year |
Milestone Benefit |
In a year | NIL |
BookMyShow Benefit | Discount of 25%, up to ₹100 on a minimum purchase of two movie tickets | No |
INOX Benefits | Discount of 25%, up to ₹100 on a minimum purchase of two movie tickets | No |
Dining Benefits | Upto 15% discount on selected restaurants | No |
Lounge Access |
| No |
ICICI Coral Credit Card vs ICICI Platinum Credit Card:
Joining Fee And Annual Fee:
The joining fee of ICICI Coral Credit Card is ₹ 500 and if we talk about its annual fee, then your annual fee for the first year is waived and from the second year onwards your annual fee will start at ₹ 500. And if you want to waive off your annual fee of Rs 500, then you will have to spend Rs 1.5 lakh or more from this credit card in a year, only then your annual fee will be waived off.
On the contrary, if we talk about ICICI Platinum Credit Card, then that credit card is given to you with zero joining fee and zero annual fee, that is, that credit card remains lifetime free for you.
Movie Tickets Benefit:
ICICI Coral Credit Card offers you some percentage discount on movie tickets which is as follows. With this card you can get 25% discount through BookMyShow. But the terms and condition for this is that for this you will have to book at least 2 tickets and you can get a maximum discount of only Rs 100. And you can avail this offer twice in a month.
Similarly, you can also get it on INOX Movies. You can also get 25% off on your movie tickets at INOX and the terms and conditions for this are the same that you can avail this offer only with 2 movie tickets and you can avail a maximum discount of Rs 100 only. And you can avail this offer also twice in a month.
If we talk about ICICI Platinum Credit Card here, then in that credit card you do not get any benefit related to movie tickets.
Railways And Airport Lounges Access:
With ICICI Coral Credit card, you can get access to lounges of all those airports in India which have tie-up with ICICI Bank. Now you can see the list of lounges of all these airports from here. But you can use this offer only once in a quarter. And you can also get access to one lounge in one quarter only if you have spent at least ₹ 5000 on this credit card in the last quarter. Similarly, you can also avail access to Railway Lounge once in a quarter.
You do not get the facility of any railway or airport lounge access in ICICI Platinum Credit Card.
Reward Points Benefit:
With the ICICI Coral Credit Card, you get two reward points per ₹100 spent on any online or offline spending. Now according to us, this reward point is very less and if you spend anything on fuel from this credit card, then you will not get any reward point on it. Now the value of reward points of ICICI Bank is also very low, the value of one reward point is Rs 0.25. Therefore on ₹100 you got only Rs 0.50 cashback.
Now we will not say that this credit card is providing you much cashback because there are many such credit cards available which provide you a cashback of at least 1% on retail expenses. Apart from this, if you make payment related to insurance or utility bills through this credit card, then you get 1 reward point for every ₹ 100.
Now, if we talk about ICICI Platinum Credit Card in terms of reward points, then you get the same reward points on it also. This will probably be the first benefit that is given to you in ICICI Platinum Credit Card, that is why you get that credit card lifetime free because you are not given any benefit in it. Now, in ICICI Coral Credit Card, you are charged an annual and joining fee of ₹ 500, so you get some movies and dining related benefits on that credit card and you also get milestone benefits in it.
Milestone Benefit:
ICICI Bank says that if you spend Rs 2 lakh or more in a year with your Coral Credit Card, then you will be gifted 2000 reward points whose value is equal to ₹ 500. Similarly, if you spend ₹ 100000 in a year from your credit card, then you will be gifted 1000 reward points whose value is equal to 250 rupees because in ICICI Bank you get the value of one reward point at 0.25 rupees. Now here a capping is imposed on your reward points in which you cannot earn more than 10,000 reward points in a whole year from this credit card.
No milestone benefit of any kind is given to you in ICICI Platinum Credit Card.
Fuel Surcharge Waiver:
In this credit card, like all credit cards, you get 1% fuel surcharge waiver. Now we will not say here that you are being given any big benefit because you will find this benefit in almost every small credit card. Now its term and condition is that you will get this surcharge waiver only at petrol pumps of HPCL and there also the swipe machine should be of ICICI Bank. Now, on the one hand, they provide only a few select features in their credit cards and also impose so many terms and conditions on them that it becomes difficult for the customer to avail them.
On ICICI Platinum Credit Card also you get this fuel surcharge of 1% on HPCL petrol pumps and your transaction should be less than Rs 4000 for this.
Final Words:
We told you in the beginning that both of these are very basic level credit cards. And it is suitable for those people whose CIBIL score has not been generated yet or whose CIBIL score is somewhat bad. Such people will get both these credit cards very easily. And you will get the Platinum Credit Card more easily than the Coral Credit Card because it is a more basic level credit card. So we will suggest this credit card only to such people, otherwise this credit card does not have any great features. There are better credit cards in the market than these and you can get them easily.
You do not get any special features in ICICI Platinum Credit Card. Just by getting this credit card, you get the brand of ICICI Bank. And many times such offers are available on e-commerce websites like Amazon and Flipkart on which if you pay through any credit card of ICICI Bank, you get 10%, 15% or 20% off, so even in such a situation a credit card can be useful to you. Now you can choose between these two credit cards as per your choice which one is best for you.
The thing has to remain the same in both the credit cards because one credit card gives you lifetime free credit and for the second credit card, you have to pay an annual fee of ₹ 500 and in this credit card you can easily save ₹ 500 in one year. Therefore, both these credit cards are in a way free for you.
FAQ:
- What are the annual fees associated with the ICICI Coral Credit Card?
The joining fee for the ICICI Coral Credit Card is ₹500. In the first year, the annual fee is waived, but from the second year onwards, an annual fee starting at ₹500 is applicable.
- Is the ICICI Coral Credit Card a recommended choice?
The ICICI Coral Credit Card offers some benefits such as movie ticket discounts, reward points on spending, and access to airport lounges. However, compared to other cards, its reward structure might not be as lucrative. It may be suitable for individuals with a lower or no credit score, but other cards in the market might offer better rewards and features.
- Does the ICICI Coral Credit Card provide access to airport lounges?
Yes, the ICICI Coral Credit Card offers airport lounge access at select airports in India that have tie-ups with ICICI Bank. Cardholders can access these lounges once per quarter upon spending a minimum of ₹5000 in the last quarter.
- Is the ICICI Coral Credit Card a lifetime free card?
No, the ICICI Coral Credit Card is not a lifetime free card. While there is a waiver for the annual fee in the first year, from the second year onwards, an annual fee starting at ₹500 is applicable. However, this fee can be waived by meeting the spending threshold of ₹1.5 lakh or more in a year.
- What is the credit limit offered on the ICICI Coral Credit Card?
The credit limit on the ICICI Coral Credit Card depends on various factors such as the applicant’s creditworthiness, income, and credit history. Specific credit limits are determined by ICICI Bank after considering these factors on a case-by-case basis.