Introduction
The ICICI Rubyx Credit Card, offered by ICICI Bank, is a premium card designed to provide a wide range of privileges and benefits to its users. Aimed at individuals seeking a blend of lifestyle, travel, dining, and entertainment perks, the Rubyx Credit Card stands out with its comprehensive offerings. This review will delve into the various features, benefits, and overall value of the card, providing a detailed analysis for prospective users.
ICICI Rubyx Credit Card
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Joining Benefits of ICICI Rubyx Credit Card
- Welcome Bonus:
- 2,000 Payback Points on payment of the joining fee.
- Complimentary Movie Tickets:
- Buy one, get one free movie ticket offer through BookMyShow, twice a month (up to โน300 per ticket).
- Travel Benefits:
- Complimentary domestic airport lounge access (2 visits per quarter).
- Dining Discounts:
- Up to 15% off at over 2,500 restaurants across India through the Culinary Treats program.
- Reward Points:
- Earn 2 Payback Points for every โน100 spent on retail purchases (except fuel).
- Earn 4 Payback Points for every โน100 spent on international purchases.
- Fuel Surcharge Waiver:
- 1% waiver on fuel surcharge at HPCL petrol pumps.
- Golf Benefits:
- Complimentary golf rounds at select golf courses in India (up to 2 rounds per month).
- Exclusive Offers:
- Special discounts and offers on shopping, travel, and lifestyle through ICICI Bank's exclusive partnerships.
- Annual Fee Waiver:
- Annual fee waived off on spending โน3 lakhs in a year.
- Interest-Free Period:
- Up to 48 days of interest-free credit.
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Card Features and Benefits
The ICICI Rubyx Credit Card offers a variety of features and benefits designed to cater to a diverse range of needs. Below is a detailed look at these offerings:
1. Joining Privileges and Fees
- Joining Fee: โน3,000 plus GST, with welcome vouchers worth over โน5,000 for shopping and travel within 30 days of fee payment.
- Annual Fee: โน2,000 plus GST from the second year onwards, waived if the annual spend exceeds โน3,00,000.
2. Discounts on Movie Tickets
- BookMyShow: 25% discount up to โน150 on the purchase of at least two movie tickets per transaction, available twice a month.
- INOX: 25% discount up to โน150 on the purchase of at least two movie tickets per transaction, available twice a month.
3. Travel Benefits
- Airport and Railway Lounge Access: Complimentary access to select lounges at airports and railway stations in India. Two complimentary railway lounge visits and two domestic airport lounge accesses per quarter.
- Complimentary Golf Rounds: One complimentary golf round or lesson for every โน50,000 spent in the previous calendar month, up to two rounds per month.
4. Concierge Services
- 24x7 i-Assist service for hotel and restaurant reservations, flight bookings, car rentals, flower and gift assistance, and movie ticket delivery.
5. Insurance Coverage
- Air Accident Insurance: Coverage of โน1 crore.
- Card Liability Cover: โน50,000 for lost card liability, counterfeit/skimming/phishing, and online fraud protection.
- Baggage Insurance: Up to โน84,000 for loss and โน21,000 for delay of checked-in baggage.
- Passport Loss Insurance: Coverage up to โน35,000 for loss of passport and travel documents.
6. Chip and PIN Security
- Enhanced security with an embedded microchip and PIN requirement for transactions at merchant outlets.
7. Fuel Surcharge Waiver
- 1% waiver on fuel surcharge for transactions up to โน4,000 at any fuel outlet in India.
8. Eligibility and Documentation
- Eligibility: Minimum age of 21 years for primary cardholders and 18 years for supplementary cardholders, with a minimum monthly salary of โน50,000 or annual income of โน5.5 lakh for self-employed individuals.
- Documentation: Identity proof (PAN, Aadhaar, Voter's ID, Driving License), address proof (electricity or phone bill), latest IT returns, salary slips, and a passport-sized photograph.
User Experience
The ICICI Rubyx Credit Card aims to provide a seamless and rewarding experience for its users. Below is an overview of the user experience based on key aspects:
1. Application Process
- Ease of Application: The application process is straightforward, with options to apply online or at ICICI Bank branches. Users need to submit necessary documents such as identity proof, address proof, income proof, and a passport-sized photograph.
- Approval Time: Approval typically takes a few days, depending on the verification of documents and eligibility criteria.
2. Customer Support
- 24x7 Helpline: ICICI Bank offers a round-the-clock helpline for card-related queries and assistance.
- Concierge Service: The i-Assist concierge service provides 24x7 assistance for travel, dining, and other personal needs, enhancing the overall user experience.
3. Ease of Use
- Digital Interface: Users can manage their accounts through the ICICI Bank mobile app and online banking portal. These platforms allow for easy monitoring of transactions, bill payments, and reward point redemptions.
- Security Features: The cardโs chip and PIN technology ensures secure transactions, reducing the risk of fraud and misuse.
4. Reward Redemption
- Variety of Options: Reward points can be redeemed for a wide range of options, including travel bookings, merchandise, and vouchers. The redemption process is user-friendly and can be done through the bankโs website or mobile app.
- Value of Rewards: The value of the rewards and the ease of redemption add significant value to the user experience, making the card attractive for those who frequently use it for purchases and payments.
5. Transaction Experience
- Domestic and International Use: The ICICI Rubyx Credit Card is widely accepted both domestically and internationally, providing convenience for users who travel frequently.
- Surcharge Waiver: The 1% fuel surcharge waiver at fuel stations across India enhances the daily utility of the card, making it a practical choice for regular commuters.
6. Additional Services
- Movie Ticket Discounts: Users appreciate the discounts on movie tickets at BookMyShow and INOX, which enhance the cardโs appeal for entertainment purposes.
- Lounge Access: Complimentary lounge access at airports and railway stations is highly valued by frequent travelers, contributing to a premium travel experience.
Pros and Cons of the ICICI Rubyx Credit Card
Pros
- Comprehensive Benefits Package:
- Extensive lifestyle, travel, and entertainment benefits, including movie ticket discounts, golf privileges, and concierge services.
- Robust Insurance Coverage:
- Significant insurance protections, including โน1 crore air accident insurance and other travel-related covers.
- Concierge Services:
- 24x7 i-Assist concierge service for a wide range of needs, enhancing the convenience and luxury for cardholders.
- Reasonable Fees:
- Competitive joining and annual fees with the potential for annual fee waiver upon reaching a moderate spend threshold of โน3,00,000.
- Fuel Surcharge Waiver:
- 1% fuel surcharge waiver on transactions up to โน4,000, beneficial for regular drivers.
- Reward Points:
- Accumulation of PAYBACK points on every purchase, redeemable across various categories.
- Security Features:
- Enhanced security with chip and PIN technology, reducing the risk of fraud and counterfeiting.
Cons
- High Foreign Currency Markup Fee:
- 3.5% fee on foreign currency transactions, which is relatively high compared to some competitors.
- Limited Lounge Access:
- Fewer complimentary lounge visits compared to some other premium cards, particularly for international lounges.
- Eligibility Requirements:
- Higher income eligibility criteria, which may limit access for some potential users.
- Redemption Handling Fee:
- โน99 fee for handling the redemption of reward points, adding an extra cost to reward utilization.
- Additional Charges:
- Various fees such as late payment charges, over-limit charges, and others, which can accumulate if the card is not managed properly.
Additional Perks and Benefits
The ICICI Rubyx Credit Card provides several additional perks and benefits that enhance its value proposition for users. These benefits cater to various aspects of lifestyle, travel, and financial security, making the card an attractive option for a wide range of users.
1. Golf Privileges
- Complimentary Golf Rounds: Cardholders can enjoy complimentary rounds of golf at selected courses. One complimentary round or lesson is provided for every โน50,000 spent in the previous calendar month, with a maximum of two rounds per month.
- Access to Iconic Courses: The golf program offers access to some of the most prestigious golfing greens in India and globally.
2. Concierge Services
- i-Assist Concierge Service: This 24x7 premium service assists with a variety of needs including hotel and restaurant reservations, flight bookings, car rentals, flower and gift deliveries, and more.
- Medical and Emergency Assistance: The concierge service also extends to medical concierge privileges and emergency auto assistance across India.
3. Insurance Coverage
- Comprehensive Insurance Cover: The card provides extensive insurance coverage, including:
- Air Accident Insurance: Coverage of โน1 crore for personal accidents due to air travel.
- Card Liability Cover: Protection up to โน50,000 for lost card liability, including counterfeit, skimming, phishing, and online fraud.
- Baggage Insurance: Up to โน84,000 for loss of checked-in baggage and โน21,000 for delays.
- Passport and Document Loss: Coverage up to โน35,000 for the loss of passport and travel-related documents.
- Flight Delay and Hijacking: Compensation for flight delays (up to โน17,500) and plane hijacking (up to โน75,000).
- Credit Shield: Coverage up to โน50,000 in case of accidental death.
4. Chip and PIN Security
- Enhanced Security Features: The card comes with an embedded microchip and requires a PIN for transactions at merchant outlets, providing additional security against counterfeiting and fraud.
5. Fuel Surcharge Waiver
- 1% Waiver on Fuel Transactions: The card offers a 1% waiver on fuel surcharge for transactions up to โน4,000 at any fuel station in India, making it beneficial for frequent drivers.
6. Eligibility Criteria
- Primary Cardholders: Must be at least 21 years old with a minimum monthly salary of โน50,000 or an annual income of โน5.5 lakh for self-employed individuals.
- Supplementary Cardholders: Must be at least 18 years old.
- Required Documents: Identity proof (PAN, Aadhaar, Voterโs ID, Driving License), address proof (electricity or phone bill), latest IT returns, salary slips, and a passport-sized photograph.
7. Additional Benefits
- Lifestyle Discounts: Discounts on movie tickets and dining, adding value to everyday spending.
- Airport and Railway Lounge Access: Complimentary access to select lounges, enhancing the travel experience for cardholders.
Comparative Analysis
The ICICI Rubyx Credit Card is compared against two other popular credit cards in the Indian market: the HDFC Regalia Credit Card and the SBI Elite Credit Card. The comparison is structured to highlight key features and benefits across different categories.
| Feature/Benefit | ICICI Rubyx Credit Card | HDFC Regalia Credit Card | SBI Elite Credit Card |
|---|---|---|---|
| Joining Fee | ?3,000 + GST | ?2,500 + GST | ?4,999 + GST |
| Annual Fee | ?2,000 + GST (waived on spends > ?3,00,000) | ?2,500 + GST (waived on spends > ?3,00,000) | ?4,999 + GST (waived on spends > ?10,00,000) |
| Welcome Benefits | Vouchers worth ?5,000+ | Welcome gift worth ?15,000 (6,000 reward points) | Welcome e-gift voucher worth ?5,000 |
| Rewards Program | 2 PAYBACK Points per ?100 spent on domestic purchases | 4 reward points per ?150 spent | 2 reward points per ?100 spent |
| Movie Ticket Benefits | 25% discount on BookMyShow and INOX (up to ?150, twice a month) | 2 free movie tickets per month (capped at ?500 per ticket) | 6 free movie tickets per year (up to ?250 per ticket) |
| Lounge Access | 2 complimentary airport lounge visits per quarter | 12 domestic airport lounge visits per year | 6 international and 8 domestic lounge visits per year |
| Golf Benefits | 1 complimentary round per ?50,000 spent (up to 2 rounds/month) | 4 complimentary rounds per year | 2 complimentary rounds per quarter |
| Concierge Services | 24x7 i-Assist service | 24x7 concierge service | 24x7 concierge service |
| Insurance Coverage | Air accident cover: ?1 crore | Air accident cover: ?1 crore | Air accident cover: ?50 lakh |
| Fuel Surcharge Waiver | 1% waiver on transactions up to ?4,000 | 1% waiver on transactions up to ?5,000 | 1% waiver on transactions up to ?4,000 |
| Foreign Currency Markup | 3.50% | 2% | 3.50% |
| Annual Spend Waiver Criteria | ? 3,00,000 | ? 3,00,000 | ? 10,00,000 |
Conclusion and Overall Rating
The ICICI Rubyx Credit Card offers a compelling blend of features and benefits that cater to a wide range of users, particularly those who value lifestyle, travel, and entertainment perks. Here is a summary of its overall rating:
| Category | Rating (out of 5) |
|---|
| Rewards and Benefits | 4 |
| Fees and Charges | 4 |
| User Experience | 4.5 |
| Travel and Lifestyle Perks | 4.5 |
| Security and Insurance | 4.5 |
| Foreign Transaction Fees | 3.5 |
Conclusion
The ICICI Rubyx Credit Card is a well-rounded premium credit card that offers a rich array of benefits for those who appreciate lifestyle and travel perks. With competitive fees, extensive insurance coverage, and useful rewards, it is particularly suited for individuals who can leverage its diverse features. However, those who frequently travel internationally might find the higher foreign transaction fees a slight drawback. Overall, it stands as a strong option in the premium credit card market in India, delivering substantial value and a satisfying user experience.
