Deep-Dive Review: ICICI Bank Ferrari Credit Card

⚠️ Important Notice — Card Discontinued

[!WARNING] This card is DISCONTINUED. The official ICICI Bank page at https://www.icicibank.com/cards/credit-card/ferrari-credit-card.page returns 404 as of 3 July 2026. Web Archive retains a legacy snapshot but the live page is gone. ICICI Bank has stopped sourcing new applications for this product. Existing cardholders can continue to use the card for outstanding balances and rewards, but no new customers can apply.

What this means for you:

• New applications: Not possible — the card cannot be applied for.
• Existing cardholders: Can continue using the card for purchases, EMI conversions, and Reward Points redemption until renewal/expiry.
• Reward Points: Already-accrued points continue to expire 36 months from accrual date.
• Alternative: For an auto/luxury co-branded card today, consider the HDFC Bank Tata Neu Infinity (Tata brands), Axis Bank Atlas (travel-focused), or apply for an ICICI Bank premium card.

Community Verdict

[!NOTE] The ICICI Bank Ferrari Credit Card was a co-branded entry-level card launched around 2016 in partnership with Ferrari that rewarded auto enthusiasts with merchandise discounts at ferraristore.com and periodic Ferrari Challenge contest entries. It earned a flat 1 ICICI Reward Point per ₹100 on retail (~0.25% return), with an effective 1.5% return on online shopping. Joining and annual fee were both ₹500 + GST, fully waived on ₹1.5 lakh annual spend. The card had no airport lounge access, no insurance benefits beyond fraud cover, no milestone rewards, no welcome benefit, and a 3.5% forex markup. It was discontinued by ICICI Bank — the official page returns 404 today.

Pros

• Ferrari Merchandise Discount: Co-branded merchandise discount at the official Ferrari online store (ferraristore.com).
• Ferrari Challenge Contest Entries: Periodic opportunities to win Ferrari Challenge race tickets and Italian museum tours.
• Low Annual Fee with Easy Waiver: ₹500 + GST fully waived on ₹1.5 lakh annual spend.
• 1.5% Effective Return on Online Shopping: Slightly better than base retail rate via the online shopping accelerator.
• 1% Fuel Surcharge Waiver: On ₹400–₹4,000 fuel transactions.
• Fraud Liability Cover: ₹50,000 counterfeit card liability + account takeover cover.
• Free Add-on Cards: Family members can be added at no extra cost.

Cons

• Card DISCONTINUED: Cannot apply for new sourcing — official ICICI page returns 404 (3 July 2026).
• No Airport Lounge Access: Domestic or international — zero lounge benefits.
• No Milestone Rewards: No spending bonuses beyond the base reward rate.
• No Welcome Benefit: No joining voucher or sign-up bonus on Ferrari Card.
• No Travel or Insurance Benefits: No air accident cover, no travel insurance, no purchase protection beyond fraud cover.
• Low Base Reward Rate: 1 RP per ₹100 retail (~0.25%) is below average for an entry-level card.
• Heavy Reward Exclusions: Fuel, rent, wallet loads, and government payments earn zero Reward Points.
• 36-Month Reward Expiry: Reward Points expire 36 months from accrual — use them or lose them.
• 3.5% Forex Markup: Not suitable for international spending.
• Reward Redemption Fee: ₹99 + GST per redemption request.
• 45% p.a. Cash Advance Interest: 3.5% per month on ATM withdrawals.
• ₹500 Cash Withdrawal Fee: Flat fee plus interest.
• Niche Brand: Ferrari merchandise discount and Challenge contest entries appeal only to a narrow audience of Ferrari enthusiasts.

Reward Spends & Categories

The ICICI Bank Ferrari Credit Card (now discontinued) earned ICICI Reward Points (worth ₹0.25/point at catalogue redemption):

Category Spend	Earning Rate / Reward Points
🛒 All Retail (offline + online)	1 ICICI Reward Point per ₹100 (~0.25% return)
🛍️ Online Shopping	~1.5% effective return via Reward Points catalogue
🏎️ Ferrari Merchandise (ferraristore.com)	Co-branded merchandise discount (separate from Reward Points)
💡 Utility Payments	1 ICICI Reward Point per ₹100 (~0.25% return)
🛡️ Insurance Premiums	1 ICICI Reward Point per ₹100 (~0.25% return)
🏛️ Government & Tax Payments	0% (Excluded)
🏠 Rent Payments (MCC 6513)	0% (Excluded)
⛽ Fuel Transactions	0% (1% surcharge waiver on ₹400–₹4,000)
💳 Wallet Loads	0% (Excluded)

Reward Point Redemption Value

Ferrari Card Reward Points redeemed through the ICICI Reward Points catalogue (iMobile app / Net Banking):

• Ferrari Merchandise / Products: 1 RP = ₹0.25 (Ferrari catalogue products)
• Cash via Statement Credit: 1 RP = ₹0.25 (after ₹99 + GST redemption fee per request)
• Vouchers / Products via Catalogue: 1 RP = ₹0.25 equivalent value

[!IMPORTANT] Ferrari merchandise discount was a separate benefit from the Reward Points programme — it was applied directly at checkout on ferraristore.com, not as points redemption. Points expire 36 months from accrual.

Annual Milestones & Welcome Benefit

[!IMPORTANT]

• Welcome Benefit: None documented on the official ICICI Bank page for Ferrari Credit Card.
• Annual Milestone Rewards: None documented on the official ICICI Bank page for Ferrari Card.
• Annual Fee Waiver: ₹500 + GST reversed on ₹1.5 lakh annual retail spend (fuel and rent excluded).
• Ferrari Challenge Contests: Periodic contests — winners got race tickets and Italian museum tours (subject to availability and ICICI promotion terms).

Airport Lounge & Travel Perks

[!IMPORTANT]

• Domestic Airport Lounge: Not included on Ferrari Credit Card.
• International Airport Lounge: Not included on Ferrari Credit Card.
• No Priority Pass / DreamFolks: Ferrari is not a travel-focused card.

Fees & Charges — Snapshot

Fee / Charge	Amount
Joining Fee	₹500 + GST
Annual Fee (Year 1)	₹500 + GST
Annual Fee (Year 2 onwards)	₹500 + GST (waived on ₹1.5 lakh annual spend)
Add-on Card Fee	Nil
Foreign Currency Markup	3.5%
Cash Withdrawal Fee	₹500 (flat)
Cash Advance Interest	3.5% per month
Reward Redemption Fee	₹99 + GST per request
Fuel Surcharge	1% (waived on ₹400–₹4,000)
Card Replacement Fee	₹100
Duplicate PIN Fee	Nil
Statement Retrieval Fee	Nil

Who Should Get This Card?

You cannot get this card — it is discontinued. ICICI Bank has stopped sourcing new applications for the Ferrari Credit Card as of 2024.

If you want a co-branded auto/luxury card today:

• HDFC Bank Tata Neu Infinity (Tata brands): 5% NeuCoins on Tata brands, 1.5% on partner merchants, includes Amazon Pay, BigBasket, Croma, Tata CLiQ, AirAsia, Uber.
• Axis Bank Atlas Credit Card: 5 EDGE Miles per ₹100 on travel, transfer to airlines/hotels (1 EDGE Mile = 1 partner mile).
• ICICI Bank Sapphiro Credit Card (premium): Higher milestone rewards + unlimited domestic + international lounge access + BookMyShow BOGO + 24×7 concierge.
• HDFC Bank Infinia Credit Card (ultra-premium): 5 RP per ₹150 on all retail (3.33% return), unlimited domestic + international lounge, ITC Hotels 3N pay 2N, unlimited golf.

If you are an existing Ferrari Cardholder:

• Continue using the card for purchases until expiry.
• Redeem your accrued Reward Points for Ferrari merchandise before 36-month expiry to maximise value.
• Plan to switch to an active ICICI card (Coral or Sapphiro) or an HDFC premium card on renewal if you still want co-branded perks.

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This card is no longer being sourced by ICICI Bank. For official terms on the discontinued product, refer to the ICICI Bank archived Ferrari Card page (returns 404 as of 3 July 2026).

For alternatives, apply for the ICICI Bank Coral Credit Card via CredSutra — CredSutra earns a referral commission on approved cards at no cost to you.