Even though ICICI Bank is one of the largest private banks in India, its credit cards are not that great. While its cards offer decent benefits, the rewards are little low compared to other cards. But its co-branded cards like the Amazon Pay card have done well in the market. In this post, we review another co-branded credit card – the MakeMyTrip ICICI Bank Signature.
Fees and Charges
The MakeMyTrip Signature credit card comes with only a joining fee. No annual fee from second year onwards like what IndusInd Bank does for its credit cards.
The welcome benefits for the fee we pay is good and can be easily used for domestic travel.
| Joining Fee | Rs 2500 plus GST |
| Welcome Benefit | Rs 1500 MMT My Cash, Rs 2500 MMT holiday voucher, MMTBLACK Membership |
| Annual Fee | NIL |
Rewards
Earned rewards are transferred to MakeMyTrip My Wallet as My Cash. My Cash can be used to make travel bookings or to purchase partner vouchers through MakeMyTrip.
| SPENDS CATEGORY | MY CASH / RS 200 |
|---|---|
| MakeMyTrip Flight Bookings | Rs 2 |
| MakeMyTrip Hotel/Holiday Bookings | Rs 4 |
| Other Domestic Spends | Rs 1.25 |
| Other International Spends | Rs 1.50 |
Milestone Rewards
- Rs 1100 My Cash on spending Rs 2.5 Lakhs in a membership year ~ 0.44% Value
- Rs 4000 My Cash on spending Rs 5 Lakhs in a membership year ~ 0.8% Value
- Total Rs 5500 My Cash for Rs 5 Lakhs spend ~ 1.1% Value
Excluded Transactions for Rewards
Below transactions will not get any cashback on the MakeMyTrip ICICI Bank credit card:
× Fuel Spends
Complimentary Lounge and Spa Access
- 2 complimentary visits per quarter for airport lounges in India listed here. This is applicable only if spends are above Rs 5000 in previous calendar quarter.
- 1 complimentary visit per year for airport lounges outside India through complimentary Dreamfolks membership. Eligible lounges are listed here.
- 1 complimentary visit per year to airport spa in India through complimentary Dreamfolks membership. Eligible spa list is available here.
- 1 complimentary visit per quarter for railway lounges listed here.
BookMyShow and Inox Benefit
- 25% discount upto Rs 150 on booking two tickets. Valid two times each per month for BookMyShow and Inox.
Our View
The effective reward rate for this card would be around 1%. Complimentary MMTBLACK membership is only for the first year.
Considering that this card does not have an annual fee, this is a good to have credit card from ICICI Bank. This card can help in taking advantage of ICICI Bank offers on e-commerce websites. This is something that the Amazon Pay card misses out on in most cases.
The airport/railway lounge and airport spa access are a good addition for the occasional traveler. In summary, a good card to have from ICICI Bank with no annual fee and decent rewards.
