This is a short review but it conveys important information. So RRC with value of contents and not length.
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I am having few observations for ICICI Bank credit card reward program.
ICICI Bank reward points are lowest among all. 1 point per Rs 200 spent. (normally 660 points = 500 Rs)
ABN is giving 2 point for Rs 100 spent (2 Point = Rs 1)
CITI bank giving 1 point per Rs 100 spent and for petrol -> 2 point per Rs 125 spent.
(Rs 1 = 1 point)
(I am not considering short term scheme of 10 times points as it is upto 31st may and on ICICI Bank charge slip only)
Rewards are not that great. CITI bank is giving absolute value of petrol coupons. So reward points are as good as cash. While ICICI is charging service fees. E.g. for Rs 500 voucher we need to spent 660 points. So 24 % reward points are wasted.
So if I put this in simple words,
For getting Rs 50 benefit from Citibank, I need to fill up petrol worth Rs. 3125
For getting Rs 50 benefit from ICICI bank, I need to fill up petrol worth Rs. 12600 (i.e. 63 point, deducting 25 %, I get net benefit of 50 Rs.)
Till 31st May, ICICI Bank Credit Card is good if you are spending between 7.00 p.m. to 12 midnight and shop keep is having ICICI Bank machine, ICICI Credit Card is good as it is giving 10 time points i.e. 1 Point for Rs 20 spent
But
For petrol expense CITI bank Bank is better.
In General case, CITI bank and ABN is better than ICICI.
What is your opinion ?