Types of ICICI Bank Canada credit cards
ICICI Bank Canada offers two types of credit cards accepted in over 170 countries.
Rubyx Visa Platinum Credit Card. Rubyx Visa Platinum Credit Cards feature a 19.99% interest rate on purchases and a 21.99% — cash advance. You can earn 1% cash back rewards for every dollar you spend. In addition, you can earn 2% cash back rewards for select categories of purchases. A Rubyx Visa Platinum Credit Card involves a $49 annual fee.
Coral Visa Credit Card. Coral Visa Credit Cards also offer a 19.99% interest rate on purchases and a 21.99% — on cash advances. With such a card, you can earn 0.5% cash back rewards on every dollar you spend and 1% — for select categories of purchases. In addition, Coral Visa Credit Cards involve zero monthly fees.
How to open an ICICI Bank Canada credit card
There is no option to apply for a credit card online through the ICICI Bank Canada website. So, you will have to visit a branch near you to open a credit card.
Requirements
To qualify for a credit card from ICICI Bank Canada, you must be a Canadian resident of at least 18 years old but not a resident of Quebec. Whenever you change your residency, you must inform the bank about it. If you change your residency to Quebec, ICICI Bank Canada will cancel your credit card account starting when you become a Quebec resident. However, canceling your credit card account will require you to repay all outstanding debt.
When applying, you will need to provide two pieces of valid identification — Schedule A and Schedule B documents.
When reviewing your credit card application, the ICICI Bank finance experts will check your income and credit score. If your records are not perfect, the bank most likely won’t approve an unsecured credit card for you.
To apply for a secured credit card, you will have to deposit with ICICI Bank Canada so that the bank will hold it as collateral.
Pros and cons
Here are the definite pros of credit cards from ICICI Bank Canada:
Zero monthly fees for a Coral Visa Credit Card
An attractive cash-back rewards program
A variety of ways to make a credit card payment
The cons are:
Poor variety compared to other banks — only two types of credit cards to choose from
Additional fees to be aware of — fees for additional cardholders, over-limit fees, fees for cash advances, and more
Unavailability of ICICI Bank Canada credit cards for Quebec residents
Limited geographic availability of ICICI Bank Canada branches
How to make a payment
ICICI Bank Canada accepts credit card payments only in Canadian dollars.
You can make a credit card payment in any of the following ways:
Through your ICICI Bank Canada online banking account
Through the ICICI Bank Canada iMobile app
In person at your local ICICI Bank Canada branch
At an ICICI Bank Canada ATM
Through the ICICI Bank Canada telephone banking
