ICICI ((Industrial Credit and Investment Corporation of India Limited) Bank Credit Card Canada

By: EconomyWatch   Date: 6 October 2010

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The issuer of the ICICI Bank Credit Card Canada is MBNA Bank Canada, which is the largest credit card issuer in Canada. ICICI Bank Credit Cards Canada are known for giving instant cash access at over 430,000 ATMs globally.

ICICI Bank: Past and Present

ICICI Limited (Industrial Credit and Investment Corporation of India Limited) was incorporated in 1955. It started its banking operations in 1994, which were later renamed ICICI Bank Limited. Finally, in 2002, ICICI, ICICI Capital Services Limited and ICICIPersonal Financial Services Limited were merged into one entity under the blanket name of ICICI Bank. Currently, ICICI bank is the largest private bank in India and has a global presence in over 18 countries.

ICICI Bank Credit Card Canada: Standard Features

The standard features available with all ICICI Bank Credit Cards Canada include:

  • Over-limit fee of $35.

  • Cardholders are charged $25 for every incident of handling dishonored checks or cash advances.

  • The fee for reprinting the bank statement is $2.50.

  • Per transaction cash advance fee is pegged at 1% of the total transaction amount.

ICICI Bank Credit Card Canada: Major Types

The most popular ICICI Bank Credit Cards are:

ICICI Bank Platinum Plus MasterCard Credit Card

  • No annual fee.

  • Purchase interest rate of 9.99%.

  • Cash advances and balance transfers rate is 11.99 %.

  • Low introductory rate of only 1.99% for the first six months.

  • Credit limit of up to $100,000.

  • Applicants must have a minimum annual income of $35,000.

ICICI Bank World Points Low Fee MasterCard Credit Card

  • Annual fee of $29.

  • Interest rate of 19.9% on balance transfers, cash advances and purchase rates.

  • Card holders get one WorldPoint for every purchase transaction worth $1. The lowest redemption level is 2600 WorldPoints.

In case of the ICICI Bank World Points No Fee MasterCard Credit Card, the cardholders get one WorldPoint for every $2 that is spent from their card.

ICICI Bank Credit Card Canada: How to Apply

Canadian residents who have a Canadian credit file and a good credit history that is not tainted by bankruptcies or delinquent accounts is eligible to apply. One can either visit the nearest ICICI bank or apply through the bank’s official website.

‘ICICI Bank Credit Card’ and ‘ICICI Bank Canada’ are trademarks of ICICI Bank Limited, who can be found at www.icicibank.com

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