ICICI Bank Diamond Credit Card
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Community Consensus
Consensus Note: ICICI Bank Diamond Credit Card issued by ICICI Bank remains a flagship choice for Existing cardholders only — DISCONTINUED premium-fee card (legacy review). Verified user discussions highlight strong yields on spending thresholds.
At-A-Glance Quick Facts
AI Verdict CredSutra Engine
Synthesized objective algorithmic score
The ICICI Bank Diamond Credit Card issued by ICICI Bank offers competitive value for Existing cardholders only — DISCONTINUED premium-fee card (legacy review). Audit your monthly spending against its ₹12,500 + GST (no documented annual fee waiver) fee structure.
Key Trade-offs & Considerations
- ⚡ Annual fee of ₹12,500 + GST (no documented annual fee waiver)
- ⚡ Lounge access policy: 1 domestic visit/quarter + 1 international visit/year
- ⚡ Reward rate: 3 ICICI Reward Points per ₹100 offline retail (~0.75% return); 1 RP per ₹100 online/utility (~0.25%)
Key Benefits & Characteristics
Category Rewards Multiplier Matrix
| Spend Category | Earning Multiplier / Return Rate |
|---|---|
| flight Travel & Flights | 2% to 5% points |
| shopping_cart Online Shopping & SaaS | 1% to 5% cashback |
| storefront Offline Retail Stores | 1% reward points |
| account_balance Government & Tax Pay | 0.5% (Caps apply) |
| house Rent & Wallet Loads | Excluded / 1% surcharge |
receipt_long Fee & Surcharge Breakdown
Detailed Analysis & Review
Deep-Dive Review: ICICI Bank Diamond Credit Card
Community Verdict
[!NOTE] ⚠️ DISCONTINUED — Sourcing Stopped: The ICICI Bank Diamond Credit Card is no longer listed on ICICI Bank’s official credit card catalog (the official URL returns 404 on the live site as of July 3, 2026). New applications are not accepted. This review covers the legacy benefits for existing cardholders. Historically the card charged a hefty ₹12,500 + GST joining and annual fee with 3 ICICI Reward Points per ₹100 on offline retail (~0.75% return) and only 1 RP per ₹100 online/utility (~0.25%). Lounge access was minimal — 1 domestic visit per quarter and 1 international visit per year — for a premium-fee card. It also offered 1% fuel surcharge waiver at HPCL pumps (₹400–₹4,000) and Culinary Treats dining benefits. Existing cardholders retain the card benefits until ICICI migrates or closes them out.
Pros
- Accelerated Offline Earn Rate: 3 ICICI Reward Points per ₹100 spent offline (~0.75% return at ₹0.25/point).
- Domestic Lounge Access: 1 complimentary visit per quarter at select Indian airports.
- International Lounge Access: 1 complimentary visit per year — rare for a discontinued card.
- 1% Fuel Surcharge Waiver: At HPCL fuel stations for transactions between ₹400 and ₹4,000.
- Culinary Treats Dining: Legacy access to min 15% off at 2,500+ restaurants across 12 cities.
- Lifetime-Free Add-on Cards: No fee for supplementary cards on the primary account.
- Fraud Liability Cover: ₹50,000 counterfeit card liability protection.
- Emergency Card Replacement: Available worldwide for existing cardholders.
Cons
- ⚠️ DISCONTINUED FOR NEW APPLICATIONS: ICICI Bank has stopped sourcing this card — official URL returns 404 on live site (July 3, 2026). Only existing cardholders retain benefits.
- Hefty Annual Fee: ₹12,500 + GST joining and annual fee is one of the steepest in ICICI’s discontinued premium card portfolio.
- No Documented Annual Fee Waiver: Full ₹12,500 + GST fee applies each year unless individually waived by ICICI relationship manager.
- Low Online Reward Rate: Just 1 RP per ₹100 online/utility (~0.25% return) — worse than many free cards.
- Minimal Lounge Access: 1 domestic/quarter + 1 international/year is poor for a premium-fee card; ICICI Sapphiro and Rubyx at the same fee band offered far more.
- Reward Redemption Fee: Flat ₹99 + GST charged per Reward Points catalogue request.
- Heavy Exclusion List: Fuel, rent, wallet loads, government payments, and EMI conversions all earn zero Reward Points.
- 3.5% Forex Markup: Makes international transactions uneconomical on this card.
- 45% p.a. Cash Advance Interest: 3.5% per month on ATM withdrawals — avoid cash advances.
- No Milestone Bonuses: No annual milestone vouchers, no quarterly bonuses — unusual for a premium card.
- No Welcome Benefit: Card never carried a sign-up bonus voucher.
- Better Active Alternatives Exist: ICICI Sapphiro, ICICI Rubyx, and ICICI Emeralde (still actively offered) deliver superior benefits at the same or lower fee tier.
Reward Spends & Categories
The legacy ICICI Diamond Credit Card earned ICICI Reward Points:
| Category Spend | Earning Rate / Reward Points |
|---|---|
| 🛍️ Offline Retail (POS, in-store) | 3 ICICI Reward Points per ₹100 spent (~0.75% return) |
| 🌐 Online Retail | 1 ICICI Reward Point per ₹100 spent (~0.25% return) |
| 💡 Utilities | 1 ICICI Reward Point per ₹100 spent (~0.25% return) |
| 🛡️ Insurance Premiums | 1 ICICI Reward Point per ₹100 spent (~0.25% return) |
| 🍽️ Dining (Culinary Treats — legacy) | Min 15% off at 2,500+ restaurants across 12 cities |
| ⛽ Fuel Transactions | 0% Reward Points (1% surcharge waiver ₹400–₹4,000 at HPCL) |
| 🏛️ Government & Tax Payments | 0% (Excluded) |
| 🏠 Rent Payments | 0% (Excluded) |
| 💳 Wallet Loads | 0% (Excluded) |
| 💳 EMI Conversion | 0% (Excluded — points clawed back post-conversion) |
Reward Point Redemption Value
ICICI Reward Points on Diamond redeemed through the Reward Points catalogue (iMobile app / net banking):
- Cash via Statement Credit: 1 RP = ₹0.25 (after ₹99 + GST redemption fee)
- Vouchers / Products via Catalogue: 1 RP = ₹0.25 equivalent value
[!IMPORTANT] Best value is batched redemption (avoid multiple ₹99 fees) for statement credit. Diamond never supported airline or hotel transfer partners.
Annual Milestones & Welcome Benefit
[!IMPORTANT]
- Welcome Benefit: None — the card never carried a sign-up bonus voucher.
- Annual Milestones: None — no quarterly or annual milestone bonuses despite the premium positioning.
- Annual Fee Waiver: Not documented in the legacy benefits. The ₹12,500 + GST fee applied each year unless individually waived by ICICI.
Airport Lounge & Travel Perks
[!IMPORTANT]
- Domestic Airport Lounge: 1 complimentary visit per quarter at select Indian airports (no documented spend gate in legacy benefits).
- International Airport Lounge: 1 complimentary visit per year (no documented spend gate in legacy benefits).
- Railway Lounge: Not included.
- Priority Pass: Not included.
- Travel Insurance: None — no air accident, baggage, or flight delay cover.
Fees & Charges — Snapshot
| Fee / Charge | Amount |
|---|---|
| Joining Fee | ₹12,500 + GST |
| Annual Fee (Year 1) | ₹12,500 + GST |
| Annual Fee (Year 2 onwards) | ₹12,500 + GST (no documented waiver) |
| Add-on Card Fee | Nil |
| Foreign Currency Markup | 3.5% |
| Cash Withdrawal Fee | ₹500 (flat) |
| Cash Advance Interest | 3.5% per month (42% p.a.) |
| Reward Redemption Fee | ₹99 + GST per request |
| Fuel Surcharge | 1% (waived ₹400–₹4,000 at HPCL pumps) |
| Card Replacement Fee | ₹100 |
| Duplicate PIN Fee | Nil |
| Statement Retrieval Fee | Nil |
Who Should Keep / Hold This Card?
Keep if you already have it:
- ICICI migrates existing cardholders to a successor card on a case-by-case basis — wait for the bank’s communication
- You can negotiate an annual fee waiver through your ICICI relationship manager
- You do heavy offline retail spend (POS / in-store) and benefit from the accelerated 3 RP/₹100 earn rate
Skip / Already Closed:
- New applications — ICICI Bank has stopped sourcing this card
- Heavy online spenders — 1 RP/₹100 online is worse than free cards
- Frequent travellers — 1 domestic/quarter + 1 international/year is too little for a premium-fee card
- Anyone who can get ICICI Sapphiro or Rubyx — actively offered and far better value at the same fee band
For official terms, interest rates, and existing-customer servicing, refer to the Bank Reference Page.
For monetization on the side, if you are an existing cardholder, explore active ICICI Bank credit cards via CredSutra — CredSutra earns a referral commission on approved cards at no cost to you.