Credit cards have become essential financial tools for many, providing not only a line of credit but also a range of benefits tailored to diverse lifestyles.
The RBL Icon Credit Card stands out in the crowded market of premium credit cards, offering a suite of perks designed for the savvy spender.
This card appeals to a broad segment of consumers, from frequent travelers to those who enjoy lifestyle rewards.
Card Highlights
| Card Category | Fuel |
| Card Issuer | RBL |
| Credit Card Network | Visa & Rupay |
| Reward Multiplier | Yes |
| Welcome Reward | 20000 RP |
| Annual Fees | ₹ 5000 + GST |
| Airport Lounge Access | 2 Domestic airport lounge visits per year |
| Recommended Credit Score | 700+ |
| CG Ratings | 3.8/5 |
Table of Contents
Overview of RBL Icon Credit Card
The RBL Icon Credit Card is designed to cater to the needs of individuals seeking lifestyle benefits and rewards. It stands out with its reward structure and premium privileges.
Key Features
- Reward Program: The card offers a robust reward point structure, giving cardholders 2 reward points for every INR 100 spent on all purchases and 20 reward points for every INR 100 spent on international transactions, dining.
- Welcome Benefits: New cardholders receive a substantial welcome gift of reward points upon paying the joining fee and meeting the minimum spend criteria within the stipulated time.
- Airport Lounge Access: Complimentary access to airport lounges within India is provided, enhancing the travel experience.
- Golf Program: Cardholders are entitled to exclusive golf lessons and games at select golf courses around India.
Eligibility Criteria
- Age: Applicants must be between the ages of 21 and 60 years for salaried individuals and up to 65 years for self-employed individuals.
- Income: A good financial status is required, with a minimum monthly income as specified by RBL Bank.
- Credit History: Applicants should have a clean and strong credit history to enhance their eligibility for the Icon Credit Card.
Rewards and Benefits
The RBL Icon Credit Card offers a multitude of rewards and benefits tailored to enhance your lifestyle.
Whether you’re dining out, traveling, or watching a movie, this credit card promises to enrich your experiences with its well-structured rewards program.
1. Welcome Benefits
Receive 20,000 bonus reward points upon joining. To qualify, pay the joining fee by the due date and use your card once within the first 30 days of issuance.
2. Movie Benefits
Enjoy 1+1 free movie ticket on BookMyShow, with savings of up to INR 200, available twice per month.
3. Reward Points System
- 2 reward points per INR 100 spent.
- On international and dining spends on weekends, earn 20 reward points per INR 100 spent.
- Maximum earn of 2,000 points each per month for international and weekend dining spends.
4. Milestone Benefits
- 10,000 reward points after annual spends of INR 3 lakhs.
- An additional 15,000 points post INR 5 lakhs.
- Another 20,000 points when you spend INR 8 lakhs in a year.
5. Travel Benefits
- 2 complimentary lounge visits quarterly at major domestic airports.
- With Priority Pass membership, enjoy access to over 1,200 international lounges (visit fee up to $27 per person).
- Request Priority Pass by contacting customer service at 022 6232 7777.
6. Fuel Surcharge Waiver
Benefit from a 1% fuel surcharge waiver at all fuel stations. Transactions should be between INR 500 and INR 4,000, with a maximum waiver of INR 200 per month.
7. 24×7 Concierge Benefits
The Concierge Desk offers round-the-clock services, assisting with various luxury and lifestyle needs:
- Golf, hotel, and car rental reservations
- Business services
- Assistance with special events, spa and fitness venues
- Dining recommendations and booking
- Flower and gift delivery arrangements
For assistant, contact 022 6232 7777.
Fees and Charges
This section provides a detailed overview of the fees and charges associated with the RBL Icon Credit Card, essential information for current and prospective cardholders to understand their financial obligations.
Annual Fee
The RBL Icon Credit Card incurs an Annual Fee of Rs. 5,000 plus GST. This fee is applicable at the time of card issuance and subsequently on each anniversary of the card.
Other Fees & Charges
Beyond the annual fee, the RBL Icon Credit Card includes several other fees and charges:
- Foreign Currency Markup: A fee of 3.5% is levied on transactions made in foreign currencies.
- Finance Charges & Cash Advances: Incurring an APR of up to 3.99% per month (which amounts to 47.88% per annum), these charges are applied on unpaid balances and cash advances.
- Late Payment Fee: This fee is calculated at 12.5% of the outstanding amount, with a minimum of Rs. 5 and a maximum of Rs. 1,300.
- Overlimit Fee / Penalty: When the outstanding amount exceeds the credit limit, a 2.5% fee is charged on the overlimit amount, with a minimum fee of Rs. 500.
- Fee on Rental Transactions: A charge of 1% is applied to the amount of each rental transaction.
- Reward Redemption Fee: There is a fee of Rs. 99 plus GST applied for redeeming rewards points.
The mentioned fees and charges are key considerations when using and managing the RBL Icon Credit Card effectively.
Comparison with Other Credit Cards
The RBL Icon Credit Card stands out for its reward points system and premium benefits, which will be evaluated against other cards through specific metrics and positioning in the market.
Competitor Analysis
Comparing the RBL Icon Credit Card with its peer group involves assessing factors such as annual fees, reward structures, and value-added services.
For instance, HDFC Regalia Credit Card offers a similar rewards program but differs in lounge access privileges.
| Feature | RBL Icon Credit Card | HDFC Regalia Credit Card |
|---|---|---|
| Annual Fee | High | Moderate |
| Reward Rate | 2 Reward Points/ ₹100 | 4 Reward Points/ ₹150 |
| Domestic Lounge Access | 2 | 18 |
| International Offers | Extensive | Moderate |
The RBL Icon Credit Card often grants better rewards on international expenditure compared to cards like the SBI Prime Credit Card, which focuses more on domestic benefits.
Final Verdict
The RBL Icon Credit Card emerges as a substantial contender in the premium credit card market. It suits individuals who seek lifestyle and travel benefits.
The card offers a range of rewards and perks that can be compelling for the right user.
Rewards Structure:
- Accelerated Rewards: Users gain 20 Reward Points per Rs. 100 spent on dining, international transactions, and spends above Rs. 10,000.
- Regular Rewards: 2 Reward Points per Rs. 100 on all other spends.
Key Benefits:
- Lounges: Complimentary domestic and international lounge access.
- Dining Offers: Attractive discounts at partner restaurants.
- Movie Tickets: Monthly discounts via bookmyshow or tickets at a cost of 2 for the price of 1 ticket.
This credit card can be a fruitful addition to the wallet of those who can maximize the reward points and redeem them efficiently.
For consumers with different spending habits, it may be prudent to consider other options that align more closely with their expenditure pattern.
