ICICI Bank Card Cancellation

Lounge access

Complimentary domestic airport lounge access by spending ₹75,000 in the preceding calendar quarter, unlocking access for the subsequent calendar quarter (starting Jan 01, 2025).

Verified · ICICI Bank Credit Card – Most Important Terms & Conditions (MITC) · 2026-08-05 · source

Forex markup

• Foreign currency transaction mark-up of 3.50%.
• A refund initiated by the customer on similar Foreign Currency transactions will also attract a 3.5% mark-up fee.

Verified · ICICI Bank Credit Card – Most Important Terms & Conditions (MITC) · 2026-08-05 · source

Charge

• Add-on/Supplementary Card fee: ₹199 (annual).
• Finance charge: 3.75% per month (45% per annum) w.e.f. Nov 15, 2024.
• Cash advance transaction fee: 2.5% of advanced amount, min ₹500.
• Card replacement fee: ₹200 (w.e.f. Jul 1, 2024).
• Over-limit charge: 2.50% of over-limit amount, min ₹550.
• Late payment charges (slabs): Nil below ₹100.
• ₹100 (₹100-500).
• ₹500 (₹501-1,000).
• ₹600 (₹1,001-5,000).
• ₹750 (₹5,001-10,000).
• ₹900 (₹10,001-25,000).
• ₹1,100 (₹25,001-50,000).
• ₹1,300 (above ₹50,000).
• Return of cheque / Auto-debit return: 2% of Total Amount Due (min ₹500) plus ₹50 + GST.
• Dynamic Currency Conversion fee: 1% currently.
• 3.5% w.e.f. Jan 15, 2026.
• Rent Pay: 1% of transaction.
• Fuel transaction: 1% on transactions above ₹10,000 (w.e.f. Nov 15, 2024).
• Utility transaction: 1% on transactions above ₹50,000 (w.e.f. Nov 15, 2024).
• Transportation transaction: 1% above ₹50,000 (w.e.f. Jan 15, 2026).
• Education payment via third-party apps: 1% (w.e.f. Nov 15, 2024).
• Skill-based gaming: 2% (w.e.f. Jan 15, 2026).
• Wallet load: 1% on transactions of ₹5,000 or more (w.e.f. Jan 15, 2026).
• Fee on cash payment at branches: ₹100 currently, ₹150 w.e.f. Jan 15, 2026.
• GST at 18%.

Verified · ICICI Bank Credit Card – Most Important Terms & Conditions (MITC) · 2026-08-05 · source

Interest-free period

• Interest free period could range from 18 to 48 days.
• Grace period of 3 days after the payment due date.

Verified · ICICI Bank Credit Card – Most Important Terms & Conditions (MITC) · 2026-08-05 · source

Fuel surcharge waiver

• Fuel surcharge waiver of 1% of transaction value on HPCL petrol pumps (valid on maximum transaction of ₹4,000, when paid by swiping on ICICI Merchant Services machines) and 1% on all petrol pumps on select cards.
• Fuel surcharge waiver applicable for spends up to ₹50,000 per statement cycle (w.e.f. Nov 15, 2024).

Verified · ICICI Bank Credit Card – Most Important Terms & Conditions (MITC) · 2026-08-05 · source

Milestone benefit

• BookMyShow offer (w.e.f. Jan 15, 2026): enjoy the BookMyShow offer by spending ₹25,000 or more in the preceding quarter.
• Cycle repeats every quarter.
• ICICI Bank Coral Credit Card is eligible for this offer.

Verified · ICICI Bank Credit Card – Most Important Terms & Conditions (MITC) · 2026-08-05 · source

Redemption value

• Redemption Handling Fee of ₹99 plus GST per redemption request for reward points earned (ICICI Bank Rewards Scheme).
• Reward points have expiry of 36 months from the date of issuance.
• Reward points credited within 5 working days from statement generation date.

Verified · ICICI Bank Credit Card – Most Important Terms & Conditions (MITC) · 2026-08-05 · source

Reward cap

• Reward Points accrued per statement cycle capped (w.e.f. Nov 15, 2024): Utility spend ₹40,000.
• Insurance spend ₹40,000.
• Grocery and Departmental spend ₹20,000.
• Transportation transaction capped at ₹10,000 per statement cycle (w.e.f. Feb 01, 2026).

Verified · ICICI Bank Credit Card – Most Important Terms & Conditions (MITC) · 2026-08-05 · source

Reward exclusion

Verified · ICICI Bank Credit Card – Most Important Terms & Conditions (MITC) · 2026-08-05 · source

Insurance

• ICICI Bank offers free insurance cover on certain cards through a tie-up with ICICI Lombard General Insurance Company Limited or any other insurance company.
• Insurer is ICICI Lombard General Insurance Co. Ltd.
• ICICI Bank is not responsible for processing of claims.

Verified · ICICI Bank Credit Card – Most Important Terms & Conditions (MITC) · 2026-08-05 · source

Eligibility

• Cancellation of credit cards: For existing card account - If all credit cards have not been used for a period of 12 months, the process to close the card shall be initiated after intimating the cardholder.
• If the cardholder wishes to continue using the card, explicit consent within 30 days is required.
• Failing which the card account shall be closed, subject to payment of all dues.
• Termination is only effective once ICICI Bank receives payment of all amounts due and outstanding.
• The card application shall continue to be valid for any replacement card provided at the time of closure/renewal.
• If cardholder desires to surrender the card on account of any change in fees/charges to their disadvantage, they may do so without any extra charge for closure, subject to payment of all dues.
• Once a Credit Card is cancelled, it cannot be re-activated.

Verified · ICICI Bank Credit Card – Most Important Terms & Conditions (MITC) · 2026-08-05 · source

Official terms

https://www.icici.bank.in/personal-banking/cards/credit-card/cancellation.

Verified · Card Cancellation product page · 2026-08-05 · source