I have had this credit card since 6 years and I am pretty satisfied with it. I have never really been able to determine if it is really worth the hassle, but I do get some benefits from it.
If you are disciplined enough to clear all dues every month in full, you can expect the following -
Rewards on all online transactions - more for some transactions than others - never had the time to research all this, but I just go with the flow. I allow the points to pile up and when there is a decent amount say like a 1000 bucks, I reimburse them towards shopping or to pay the mobile bills. Don’t forget there is a small charge(Rs 30?) for reward redemptions as well, so its better to redeem when there is some significant amount.
I get 2 free tickets every month through Bookmyshow - this can be a pain as there is a quota and this gets exhausted pretty soon, but if you order the tickets at the right times, you do save a good amount. I have almost always managed to get the tickets for the movies I actually wanted to go to.
Annual fees of Rs 500 can be waived off if your annual spend is over 1.5 lakhs per annum and this easily happens if you pay for everything using the card. Sometimes, you can offer to purchase your relations’ air tickets through the cards to add on:)
15% restaurant fees waived off at some diners. I have used this only once, but it can be used at Cafe Coffee Day anywhere.
ICICI offers 8% discounts on Ebay shopping, this is awesome. I save quite a bit on this as well.
Overall, if you are anyway going to be spending the money, you may as well get something back for it and this card is quite good for that.