ICICI Bank Sapphiro Credit Card Benefits : Is It Worth?

The ICICI Sapphiro Credit Card is one of the premium offerings from ICICI Bank, catering to individuals who seek high-end privileges and rewards. Known for its extensive perks in travel, shopping, and entertainment, this card is designed for frequent travelers and those who enjoy a luxurious lifestyle. In this blog, we will cover the essential features, benefits, fees, and eligibility criteria, along with a detailed comparison with other ICICI cards. We will also include relevant tables to provide a clearer understanding of the offerings.

Overview of ICICI Sapphiro Credit Card

The ICICI Sapphiro Credit Card is part of the Gemstone collection of credit cards from ICICI Bank. It comes with a Mastercard and an American Express variant, both offering slightly different reward structures. The card is ideal for frequent travelers, especially those who fly internationally and often avail airport lounges.

Key Features of ICICI Sapphiro Credit Card

One of the major highlights of this card is its extensive list of privileges that include airport lounge access, exclusive golf rounds, concierge services, and significant reward points accumulation for international spends.

Rewards Structure of ICICI Sapphiro Card

The rewards program on the ICICI Sapphiro Credit Card is robust, particularly for international travelers. Here’s how the reward points accumulate:

Breakdown of Reward Value:

• Domestic Spends: For every Rs. 100 spent, you get 2 PAYBACK points, translating to 0.5% cashback.
• International Spends: You earn 4 PAYBACK points for every Rs. 100, which translates to 1% cashback.
• Utilities and Insurance: A lower 0.25% cashback equivalent is given for utility bills and insurance payments.

These rewards points can be redeemed for various lifestyle benefits, including shopping, travel bookings, and vouchers.

ICICI Sapphiro Benefits

When you sign up for the ICICI Sapphiro Credit Card, you receive attractive welcome vouchers. These vouchers can be used for shopping, travel, and more. Here’s a detailed look at the welcome benefits:

These welcome vouchers can be availed after the payment of the joining fee and are a significant value addition.

ICICI Sapphiro Lounge Access and Golf Benefits

The ICICI Sapphiro Credit Card is particularly well-known for its extensive travel benefits, especially for frequent flyers and golfers.

Airport Lounge Access:

• Domestic Airport Lounge: The card offers 4 complimentary domestic lounge visits per quarter (based on a minimum spend of Rs. 5,000 in the previous quarter).
• International Lounge: Through Dreamfolks membership, the cardholder can access 2 international airport lounges every year.

Golf Rounds:

• Cardholders are entitled to 4 complimentary golf rounds per month at select golf courses across India and abroad. This is available to those who have retail spends of Rs. 50,000 in the preceding month.

ICICI Sapphiro Fees and Charges

Like all premium credit cards, the ICICI Sapphiro Credit Card comes with fees. However, the card justifies these charges through its range of premium benefits.

It’s important to note that while the card has a relatively high joining and annual fee, these can be offset by the rewards and vouchers provided.

Additional Benefits

In addition to the core features, the ICICI Sapphiro Credit Card provides several lifestyle perks that cater to both travel and entertainment enthusiasts.

Movie Benefits:

• BookMyShow Offer: Get Buy-One-Get-One Free movie tickets on BookMyShow with a monthly cap of Rs. 500.

Concierge Services:

• 24/7 concierge services for travel bookings, dining reservations, and more.

Fuel Surcharge Waiver:

• The card offers a 1% fuel surcharge waiver at HPCL petrol stations on transactions above Rs. 400, capped at Rs. 4,000 per month.

Comparison with Other ICICI Cards

While the ICICI Sapphiro Credit Card offers premium benefits, it's crucial to see how it stands against other cards in the market.

The Sapphiro card is well-suited for high-net-worth individuals who frequently travel and value airport lounge access, golf benefits, and cashback on international spends.

ICICI Sapphiro Eligibility Criteria

To be eligible for the ICICI Sapphiro Credit Card, the following criteria must be met:

• Age: Minimum 21 years; Maximum 65 years.
• Income: Salaried individuals must have a minimum income of Rs. 80,000 per month, while self-employed individuals must have a minimum income of Rs. 83,333 per month.
• CIBIL Score: Applicants need a minimum CIBIL score of 750 to be considered for this card.

How to Apply for ICICI Sapphiro Card

You can apply for the ICICI Sapphiro Credit Card both online and offline:

• Online Application: Visit the official ICICI Bank website and fill out the application form.
• Offline Application: Visit any ICICI Bank branch with the necessary documents, such as identity proof (PAN/Aadhar), address proof, and income proof (salary slips/ITR).

Conclusion

The ICICI Sapphiro Credit Card is an excellent choice for individuals looking for premium travel, entertainment, and lifestyle benefits. With features like complimentary lounge access, golf privileges, and attractive rewards on international and domestic spends, this card is ideal for frequent travelers and high-net-worth individuals. However, it is important to note that the card's high annual and joining fees may not make it suitable for everyone.

For those who can make the most out of the benefits, particularly the lounge access and welcome vouchers, the ICICI Sapphiro Credit Card can provide excellent value.

FAQs

1. What is the joining fee for the ICICI Sapphiro Credit Card?

The ICICI Sapphiro Credit Card has a joining fee of Rs. 6,500. You receive welcome vouchers worth Rs. 9,000+ as part of the welcome benefits package.

2. What are the annual fees for the ICICI Sapphiro Credit Card, and how can they be waived off?

The annual fee for the card is Rs. 3,500, which can be waived off if your annual spending exceeds Rs. 6 lakh.

3. How many complimentary airport lounge visits does the ICICI Sapphiro Credit Card offer?

The card offers 4 complimentary domestic lounge visits per quarter and 2 complimentary international lounge visits per year through the Dreamfolks membership.

4. What is the reward points structure for the ICICI Sapphiro Credit Card?

You earn 2 reward points for every Rs. 100 spent domestically and 4 reward points for every Rs. 100 spent internationally. Additionally, 1 point is earned on utility and insurance spends.

5. Does the ICICI Sapphiro Credit Card offer golf privileges?

Yes, the card provides up to 4 complimentary rounds of golf per month at select golf courses across India and abroad, based on a monthly spend of Rs. 50,000 in the preceding month.

6. What are the movie benefits with the ICICI Sapphiro Credit Card?

You can avail of a Buy-One-Get-One Free offer on movie tickets through BookMyShow, with a monthly cap of Rs. 500 for the second ticket.

7. Is the ICICI Sapphiro Credit Card good for international travel?

Yes, the ICICI Sapphiro Credit Card is ideal for international travelers due to its international lounge access, higher reward points for international spends, and comprehensive travel insurance benefits.

8. What are the ICICI Sapphiro Credit Card late payment charges?

The late payment fee ranges from Rs. 100 to Rs. 1,200, depending on the outstanding balance on your statement. For balances below Rs. 100, there is no fee, while for balances above Rs. 50,000, the fee is Rs. 1,200.

9. Can I apply for the ICICI Sapphiro Credit Card online?

Yes, you can apply for the ICICI Sapphiro Credit Card online through the ICICI Bank website. Simply fill out the application form, submit the necessary documents, and complete the process digitally.

10. How can I redeem the PAYBACK points earned on my ICICI Sapphiro Credit Card?

You can redeem your PAYBACK points through the PAYBACK website, by calling the PAYBACK helpline, or by using the points to shop online or convert them into cash credit to offset your credit card bill.

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Author - Abhishek Sonawane

Abhishek Sonawane, an MBA graduate from the prestigious Indian Institute of Management Visakhapatnam (IIMV), brings over ten years of experience in the finance domain. His extensive background includes various roles in financial management and strategy, providing him with a comprehensive understanding of the financial landscape. Abhishek’s expertise and dedication to financial education make him an authoritative voice in personal finance, helping readers make informed financial decisions.