ICICI Bank Coral Credit Card is a Visa, Mastercard, and American Express platform based lifestyle entry-level credit card. For a low membership fee of ₹500, it offers superior benefits like 25% discount on movie tickets, airport and railway lounge access, reward points for regular spends, and up to 15% savings at partner restaurants through the Culinary Treats Programme. It also comes with contactless payment for improved security and convenience. This article provides you with an in depth analysis of Coral Credit Card benefits like reward scheme, benefits, possible yearly savings, and qualification to help you decide whether the card is suitable for your lifestyle and financial needs.
Welcome Benefits
Unlike certain cards offering instant welcome rewards or cashback, the ICICI Bank Coral Credit Card has a long-term value strategy. Right from the date of issue, the cardholders automatically become members of the ICICI Rewards Program so that they can start earning points from the very first purchase. Even though it does provide joining reward in the conventional sense, the steady benefit model offers incremental savings throughout the year to regular users.
Entertainment Benefits
For the film buff, this card offers substantial savings every month with its Buy One Get One Free feature. One avails of a 25% discount (up to ₹100) on the purchase of a minimum of two tickets in one transaction on BookMyShow and INOX. This could be availed twice a month on either of the platforms and could result in savings up to ₹400 a month if availed fully. This feature especially enticing for families and couples that watch movies at cinemas on a frequent basis.
Travel Benefits
- Airport Lounge Access: Enjoy one free visit each quarter at specific domestic airport lounges. You must have spent ₹75,000 or more during the previous calendar quarter. This is ideal for those who travel occasionally but wish to experience comfort while traveling.
- Railway Lounge Access: Receive one complimentary railway lounge access per quarter with no minimum spend, increasing convenience and comfort on train travel in major railway hubs.
Dining Benefits
The ICICI Bank Coral Credit Card provides special dining benefits under the Culinary Treats Programme. Card members get at least 15% off on their restaurant bills at more than 800 partner restaurants in 11 Indian cities. In addition, there are special deals offered through dining platforms:
EazyDiner: Enjoy an extra ₹350 discount on a minimum bill value of ₹4,000 at participating restaurants. Offer valid every Friday through Sunday until June 30, 2025. ​
Zomato: Get extra discounts at popular restaurants while paying with your ICICI Bank Credit Card.
Milestone Benefits & Fee Waiver
The ICICI Bank Coral Credit Card offers the following benefits:
- Annual Fee Waiver: Your annual fee of ₹500 (plus applicable taxes) is waived if you have spent ₹1,50,000 or more in the previous year.
- Milestone Rewards: Get 2,000 Reward Points on spending ₹2,00,000 in an anniversary year. Additionally, earn 1,000 Reward Points for every extra ₹1,00,000 spent within the same anniversary year, up to a maximum of 10,000 Reward Points a year.
Other Everyday Benefits
Fuel Surcharge Waiver: Cardholders can save fuel with a 1% fuel surcharge waiver on purchase up to ₹4,000 at HPCL fuel pumps, if the card is swiped on ICICI Merchant Services terminals. This can translate into savings throughout the year for regular users of vehicles.
Security Features: The card features EMV chip and PIN technology to give better security against fraud and skimming. It is particularly good for secure payments in-store as well as for use online.
Reward Points Structure and Redemption
The ICICI Bank Coral Credit Card has a straightforward and stable reward system:
- 2 Reward Points for every ₹100 on retail expenses (other than fuel).
- 1 Reward Point for every ₹100 for utility and insurance bill payments.
- Points are not earned on fuel purchases and EMIs.
- Reward points are redeemable online via the ICICI Rewards platform for a multitude of products, gift vouchers, and travel transactions. The nominal value is ₹0.25 per point, and points have a validity period of 3 years from date of accumulation.
Example Case Study
Let’s assume the following breakdown of ₹2,00,000 yearly spend:
| Spending Category | Annual Spend (₹) | Benefit Type | Reward Points Accumulated | Savings / Value (₹) |
|---|---|---|---|---|
| Retail Shopping & Groceries | 80,000 | Reward Points (2/₹100) | 1,600 | 400 |
| Utility & Insurance Payments | 30,000 | Reward Points (1/₹100) | 300 | 75 |
| Dining at Partner Restaurants | 20,000 | 15% Avg Discount | — | 3,000 |
| Fuel | 25,000 | 1% Surcharge Waiver | — | 1,200 |
| Travel (Lounge Access) | 30,000 | 1 Visit/Quarter (₹800 Avg) | — | 3,200 |
| Entertainment (Movies) | 15,000 | 25% Discount, Max ₹100/ticket (2x/Month) | — | 4,800 |
| Total | 2,00,000 | — | 1,900 | 12,675 |
Fees and Charges
- Annual Fee: ₹500 (plus applicable taxes).
- Joining Fee: ₹500 (plus applicable taxes), waived if the card member spends above ₹1,00,000 within the first 90 days.
- Interest on Purchases: 3.4% per month (40.8% annualised).
- Cash Withdrawal Fee: 2.5% of the amount withdrawn (minimum ₹500).
- Foreign Currency Markup Fee: 3.5% of the transaction value.
- Late Payment Fee: ₹100 to ₹1,100, depending on the outstanding balance.
- Overlimit Fee: ₹500 if the cardholder exceeds the credit limit.
My Thoughts
The ICICI Bank Coral Credit Card is positioned as a basic entry-level credit card offering lifestyle-focused benefits that are in line with first-time cardholder needs. It offers value in the context of everyday benefits like 15% savings at restaurants from partner establishments under the Culinary Treats Programme and 25% savings on cinema tickets through BookMyShow and Inox, which are geared towards frequent dining or entertainment usage.
But the absence of welcome benefits and relatively conventional reward design somewhat limit the card’s appeal for people looking for aggressive reward building. And the ₹500 annual fee, although waiver-related, can potentially act as a dampener for people seeking lifetime-free cards especially in a competitive sub-premium entry-level card segment where the majority of issuers do not have a no-annual-fee versions.
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