ICICI Credit Card

ICICI Bank under K V Kamath was one of the most aggressive banks when it came to adopting Technology and led the way for other Indian banks to modernize. However, one of the strategies of ICICI to aggressively resort to unsecured lending backfired. Since 2007, ICICI Bank has been withdrawing from the retail credit market, especially from the unsecured retail segments of personal loans and credit cards. A number of private banks and NBFCs along with SBI have gained market share during the last five years at the expense of ICICI Bank.

ICICI’s unsecured portfolio has continued to shrink and is now only a shadow of what it was in FY07. Both personal loans and credit cards have continued to decline in FY12 by 58% and 9% respectively. We have not seen any intention
from the management

Today we’d like to present some facts on consumer spend on credit cards, APR and the overall portfolio of these loans by HDFC Bank, ICICI Bank and Axis Bank.

Average Monthly Spend by Consumer using Credit Cards is as follows
IndusInd Bank lead the pack where Average Spend was Rs 5,297
HDFC Bank Credit Cards – Rs 4,127
Kotak Mahindra Bank – Rs 4,087
ICICI Bank – Rs 3,388
Axis Bank – Rs 3,028
SBI Cards – Rs 2,976

Credit Card APR Comparison
Depending on ones Credit History APR may vary between 3% per month to 4% per month from bank to bank. The following chart shows the comparison

ICICI Bank known for its aggressive lending and new age banking practices was caught on the wrong foot as its Direst Sales Associates and Agents bought in Delinquent customers which has led the

Read moreICICI Bank Cancels 13 Lakh Credit Cards

ICICI Rewards program on Credit Cards is unattractive compared to others.

• Gold and Silver credit cards [which most consumers hold], earn 1 reward point on every Rs. 200 spent.

  Read moreRewards Program – Unattractive

ICICI Bank has written to us about a Special Monsoon Offer – Free Indigo Airlines vouchers worth Rs 2000 with your ICICI Bank Debit Card.

The voucher will be given every day

Read moreIndigo Airlines vouchers with Debit Card

Debit Cards are gaining lot of popularity post economic crisis. We have been just a while ago informed by ICICI Bank about a special offer beginning tomorrow.

Now, if you use your ICICI Bank Debit Card for just 5 non-fuel purchases in a month

Read more5% cash back at HPCL with Debit Card