ICICI Bank Credit Card for Low Income Earners & Income Required
ICICI Bank is India’s leading private sector bank and offers various services and products including credit card. Also known as plastic card or plastic money, it is alternate solution to cash or cheque which lets users to make payment to various merchants using the credit offered by the issuing bank. That is nothing goes from the user’s pocket at the time of use. User gets interest free period to make the due payments back to the bank along with an option to pay only the minimum balance every month. And this is what attracts the users, as they get free money to use for a fixed time interval along with various benefits as mentioned below. And most importantly after demonetization, the usage of credit card has increased significantly along with the new users. ICICI offers wide varieties of credit cards for different purposes such as:
The table also displays cards against fixed deposit (Instant Platinum and Coral), which is another recommended option for poor income earners to get a card.
Note – Card approval is at the sole discretion of the bank. There are many other credit cards offered by ICICI Bank but income requirement could not be obtained. You may visit their website for more details.
- Lifestyle or shopping
- Dining and others
|Sr. No||ICICI Bank Credit Card Name||Minimum Annual Income Required in INR||Equivalent Minimum Monthly Income in INR|
|10||Instant Platinum (Card Against Fixed Deposit)||20,000 (FD amount required)|
|11||Coral (Against Fixed Deposit)||20,000 (FD amount required)|
Benefits of cards against FD:
- No income criteria, so no income related documents required such as monthly salary slip or income tax return proof. All you need is FD account with ICICI bank with the above mentioned minimum amount. Higher the FD amount, higher would be the credit limit.
- Minimum documentation. Since the bank already has most of the details of the account holder.
- No credit history is checked, and others.
Benefits of ICICI Bank Credit CardDepending on the card taken, consumers get following benefits:
- Discounts on online or in-store shopping, eating out, watching movies and more
- Fuel surcharge waiver
- Discounts at petrol pumps
- Free air miles
- Discounts on base fare while booking tickets online through the partner airline’s website
- Airport lounge access (domestic / international)
- Excess baggage allowance
- Reward points
- Payback points
- Complimentary movie tickets
Eligibility criteria:In order to get credit card from ICICI, the applicant should meet following criteria in addition to the income, as mentioned in the above table:
- Should be 18 years of age
- Must have a good credit score
- ID and Address proof
- Latest salary slips (3 months)
- Bank statement and income tax return statement, in case applicant is self employed
- Business presence proof, if applicant is self employed businessmen
Different charges:With features and benefits comes various charges as follows:
- Joining and annual fee
- Processing fee
- Late payment
- Cheque bounce and others
- Loss of card
Hi, I am Nikesh Mehta owner and writer of this site.
I’m an analytics professional and also love writing on finance and related industry. I’ve done online course in Financial Markets and Investment Strategy from Indian School of Business.