A few days ago, ICICI launched a beta version of Ishop. Yes, it is a beta version specifically mentioned on the website. Anyway, The ICICI Ishop has taken, at least, Twitter by storm. Though many questions still need to be answered, everyone is excited about the huge earning potential that select ICICI credit cards may offer. By launching the Ishop portal, ICICI Bank has directly entered a market that is mainly a duopoly. The HDFC Bank Smartbuy & Axis Bank Travel Edge are other accelerated rewards portals.
You can access ICICI Ishop here.
Eligible Payment Modes
All ICICI Bank Credit Cards, Debit Cards, and Net Banking transactions are eligible for Accelerated rewards. However, rewards earning vary depending on the type of credit card and payment mode.
ICICI Ishop Accelerated Rewards Earnings
Here is a summary of ICICI Ishop Accelerated Rewards Earnings:
- Credit Cards
| Credit Cards | Base Rewards | Flights/Bus/ Vouchers [6x: 1xBase+5x] | Hotels [12x: 1x Base+11x] |
| Emeralde Metal | 3% | 18% | 36% |
| Times Black | 2% | 12% | 24% |
| Emeralde Metal | 1% | 6% | 12% |
| Diamant World | 0.75% | 4.5% | 9% |
| Co-Branded Cards (CashBack) (Adnai/Emirates/MMT/Amazon) | – | 4% | 4% |
| Other Credit Cards | 0.50% | 3% | 6% |
- Debit Cards:
| Debit Cards | Base Rewards | Flights/Bus/ Vouchers | Hotels |
| Sapphiro & Expressions Sapphiro | 0.5% | 3% | |
| Rubyx & Expressions Coral | 0.375% | 2.25% | 4.5% |
| Other Debit Cards | 0.25% | 1.5% | 3% |
- NetBanking:
- Flights: 3%
- Hotels/Bus: 6%
- Vouchers: Not Available as of now, however as per ICICI, the same will be available soon.
Don’t have an ICICI Bank Credit Card? Apply Here.
ICICI Ishop Capping
Here is a summary of ICICI Ishop Accelerated Rewards Earnings (Daily Cap also applies):
- Credit Cards
| Credit Cards | Accelerated Rewards Capping | Max Earning Spending (Hotels) | Max Earning Spending (Flights/Bus/ Vouchers) |
| Emeralde Metal | 18000 | ₹54.6K | ₹120K |
| Times Black | 15000 | ₹68.2K | ₹150K |
| Emeralde Metal | 12000 | ₹109K | ₹240K |
| Diamant World | 12000 | ₹145.5K | ₹320K |
| Co-Branded Cards (CashBack) (Adnai/Emirates/MMT/Amazon) | ₹ 1100 | ₹27.5K | ₹27.5K |
| Other Credit Cards | 9000 | ₹163.7K | ₹360K |
- Debit Cards:
| Debit Cards | Accelerated Rewards Capping | Max Earning Spending (Hotels) | Max Earning Spending (Flights/Bus/ Vouchers) |
| Sapphiro & Expressions Sapphiro | 9000 | ₹163.7K | ₹360K |
| Rubyx & Expressions Coral | 9000 | ₹ 218.2K | ₹480K |
| Other Debit Cards | 9000 | ₹156.5K | ₹327.27K |
- NetBanking: It is unclear what the limit of iCash earned on payments made via NetBanking would be. Even the calculator shows earnings of ₹ 300K on spends of ₹10 Million (₹1 Crore). So, more clarity is needed.
Redemption
Redeeming ICICI Bank reward points for flights, hotels & vouchers is now easier. There is a limit to the value of the orders that can be paid using iCash, and it varies based on Cards. For NetBanking transactions, the limit is flat at 80% of the order value.
- Flights: up to 100% points
- Hotels: up to 95% points
- Vouchers: up to 50% points
Redeeming ICICI Bank reward points for flights, hotels, and vouchers is now easier. The value of orders that can be paid using cash varies based on the card. For NetBanking transactions, the limit is flat at 80% of the order value.
Unanswered Questions
- The website name is Ishop Beta, so we don’t know when it will officially be launched or whether conditions will change.
- What is the earning limit on NetBanking Transactions?
- When the iCash will be credited?
- Whether we will see points transfer options?
- There is also a daily cap, but it is not mentioned on the website.
Is it worth the hype?
I have mixed feelings as of now. However, there is potential. It is always great to have multiple players in the market, which makes it good for the customer. For ICICI Emeralde Private Metal or Times Black Credit Card holders, ICICI Ishop is a great way to boost iCash earnings. But these cards come with hefty fees. If you already have these cards, then great, but there already are some low-hanging fruits you may want to have before going all in. By the way, Times Black is easier to get than ICICI Emeralde Private Metal.
