✅ Platinum Chip Credit Card has no joining fee or annual fee
✅ Earn reward points on retail purchases and on utility and insurance bills
✅ 1% fuel surcharge waiver at HPCL fuel stations
✅ Convert purchases into installments (EMI)
✅ Chip and PIN for extra security on in-person purchases
Why does Utua recommend the Platinum Chip Credit Card?
Utua recommends getting to know the Platinum Chip Credit Card because it combines full exemption from joining fee and annual fee with a reward points program that’s easy to understand. This lowers the fixed cost of holding the card while still rewarding everyday spending categories.
On top of that, the Platinum Chip Credit Card relies on chip-and-PIN security and offers EMI installment conversion, features that help the cardholder manage expenses better without giving up benefits. Let’s go through all of this in detail?
What is EMI (installment) purchasing?
EMI (Equated Monthly Installment) is the Indian way of splitting credit card purchases into installments, allowing purchases to be paid off with or without interest. When a customer converts a purchase into EMI, the total amount is divided into fixed monthly installments (covering the principal plus any applicable interest), which are automatically deducted from the statement over the agreed number of months instead of being charged all at once.
For the Platinum Chip Credit Card, this conversion is available on select purchases, with interest starting at a set monthly rate, and it mainly helps customers manage their budget for higher-value purchases without committing their entire credit limit at once.
Fully digital application and everyday benefits
The application process is 100% digital, with no need to submit physical documents, which makes it faster for anyone who already banks with or has a relationship with ICICI Bank. The rewards program allows redemptions across different categories, such as electronics, fashion, travel and beauty, giving customers the freedom to choose where to use their accumulated benefit.
The fuel surcharge discount at HPCL stations is applied automatically and applies to both the primary card and the add-on card, extending the savings to the whole family. There’s also the option to issue an add-on card (Plus Card) to extend the benefits to another member of the household, plus the ability to convert purchases into EMI when needed.
How does the rewards and discount program work?
The Platinum Chip Credit Card was designed for anyone who wants to build up everyday benefits without paying for them. The card charges no joining fee and no annual fee, which already lowers the cost of keeping it active from month one. For every ₹100 spent on retail purchases, the cardholder earns 2 points, and 1 point for every ₹100 spent on utility bills and insurance.
As mentioned above, there’s also a 1% discount on the fuel surcharge at HPCL stations, valid for both the primary cardholder and the add-on card. Pretty great, right? These are the positive points worth checking against your own day-to-day spending.
Writer’s opinion
Among the positive points, the Platinum Chip Credit Card stands out for charging no joining fee or annual fee, which is rare even among entry-level cards, on top of offering a rewards program and fuel discount that make sense for everyday spending.
On the other hand, it’s worth paying attention: the 3.5% foreign exchange markup is high for anyone planning to use the card outside India, and the 3.75% monthly interest on cash withdrawals and on paying only the minimum due can add up quickly if the statement isn’t paid in full.
Find out how to apply for the Platinum Chip Credit Card!
If you’re looking for a card with no annual fee, reward points on purchases and chip-and-PIN protection, click the button below to see how to apply for your Platinum Chip Credit Card and start enjoying the benefits. On our next page, you’ll also find special advice to support your decision.
Note: Utua is not a financial institution and does not grant credit cards or loans. This content is for informational purposes to help readers compare options before applying for the card directly with the financial institution.
