We analyzed all the credit cards issued by the ICICI Bank and selected the best among them based on some basic criteria:
Value for money: This was the most important factor that has been taken into consideration. The cards that provide maximum benefits made it to our list.
Cash-back: Half a star to credit cards providing cash-backs and half a star where the system of credit is not complicated and easy for the customers to understand.
Annual Fee and joining fee: Half a star to credit cards without any annual fee and half for no
joining fee. Any credit card without any annual fee and joining fee will get a full star, but a joining fee of INR 500 has been considered equivalent to no annual fee.
Availability for all income groups: Half a star if the services of the credit card are available for all income groups, and another half if services extend to multiple geographies and not just major cities.
Welcome gifts: Half a star for welcome gifts and half a star for easy usage of those gifts. Here if the intrinsic value of the usable gift at least covers the annual fee, the credit card will get a full star.
Additional benefits: Half a star to credit cards providing additional benefits and half to the credit cards in which these additional benefits are more user-friendly. For example, if a card offers a fee waiver to a user who will spend INR 3 lakh in one year, it is unlikely all cardholders may want to spend that much in one year. This makes the feature redundant for certain cardholders.
