ICICI Bank Parakram Credit Card Review

General Information

Our Rating: 9/10

Joining Fee: Nil

Annual Fee: Nil

Best For: Travel Shopping

Rewards and Benefits

Type of Rewards: Reward Points

Welcome Offers: NA

Entertainment and Dining: Dining benefits with ICICI Bank Culinary Treats Programme

Shopping Perks: 5X reward points for every Rs. 100 spent on CSDs, groceries, and departmental stores and 1 reward point for every Rs. 100 spent on all other expenses

Travel Benefits: 2 Complimentary domestic railway lounge access

Domestic Lounge Access: 2 Complimentary domestic railway lounge access

International Lounge Access: NA

Golf Benefits: NA

Insurance Coverage: Personal accident insurance of Rs. 2 Lakh and Air Accident Cover of Rs. 20 Lakh

Fees and Charges

Waiver on Spend: NA

Redemption Fee: Rs. 99 per reward redemption request

Foreign Transaction Fee: 3.5

Interest Rate: 3.40% per month or 40.8% annually

Fuel Surcharge Waiver: 1% fuel surcharge waiver on all fuel transactions

Cash Advance Fee: 2.50% of the withdrawn amount or a minimum of Rs. 300

Summary

Earn 5X reward points on every Rs. 100 spent at CSDs, groceries, and departmental stores, with a maximum cap of 400 points per month. Earn 1 reward point for every Rs. 100 spent on all other eligible expenses. Fuel, ATM withdrawal, balance transfer, cash withdrawal, EMIs, PLCC, fee, and other charges are not eligible for reward points. Receive complimentary domestic railway lounge access, with a maximum of 2 visits per quarter if you spend at least Rs. 5,000 in the previous calendar quarter. Enjoy a 1% fuel surcharge waiver on all fuel transactions nationwide. Receive personal accident insurance coverage of Rs. 2 Lakh and air accident cover of Rs. 20 Lakh. Obtain up to 3 additional credit cards at no extra fee. Benefit from dining privileges through the ICICI Bank Culinary Treats Programme.

The ICICI Bank Parakram Credit Card is a reliable choice for individuals who frequently travel and shop.

With a joining fee and renewal fee of nil, this card offers great value for money.

Its reward type is Reward Points, allowing cardholders to accumulate and redeem points for various benefits.

Although there is no specific welcome benefit, the credit card does provide excellent dining benefits through the ICICI Bank Culinary Treats Programme, making it an ideal choice for those who enjoy eating out at restaurants.

In addition, users can earn 5X reward points for every Rs. 100 spent on CSDs, groceries, and departmental stores, and 1 reward point for every Rs. 100 spent on other expenses.

For travel enthusiasts, the ICICI Bank Parakram Credit Card offers 2 complimentary domestic railway lounge access, ensuring a comfortable and enjoyable journey.

The card also provides a fuel surcharge waiver of 1% on all fuel transactions.

Cardholders can avail of insurance benefits, including personal accident insurance of Rs. 2 Lakh and Air Accident Cover of Rs. 20 Lakh, adding an extra layer of protection during travel.

It is worth noting that there is a rewards redemption fee of Rs. 99 per reward redemption request.

Additionally, the foreign currency markup is 3.5% per month or 42% annually, and the interest rate stands at 3.40% per month or 40.8% annually.

For cash advances, there is a charge of 2.50% of the withdrawn amount or a minimum of Rs. 300.

In conclusion, the ICICI Bank Parakram Credit Card is a suitable option for those who enjoy traveling and shopping.

With its rewards program, convenient railway lounge access, and useful insurance benefits, this card provides great value and convenience.