Credit card rewards are a great way to save money on your daily purchases, travel bookings, and online shopping. ICICI Bank, one of India’s top private banks, has launched a new platform called iShop. This platform allows cardholders to earn extra rewards when they book flights, hotels, or buy shopping vouchers. But how good are these rewards, and are they really worth it?
If you hold an ICICI premium card like Emeralde Private Metal or Times Black, the iShop portal can help you get huge savings. However, there are also some downsides. One major missing feature is air miles redemption, something frequent flyers care about a lot.
In this article, we will explain how ICICI’s iShop credit card rewards work, who can benefit the most, what the limits and charges are, and how it compares with competitors like HDFC SmartBuy and Axis GrabDeals. Let’s dive in!
What is ICICI’s iShop Credit Card Rewards Portal?
ICICI Bank launched iShop in February 2024 as a rewards-based portal. It is designed mainly for premium credit card users. Through this platform, cardholders can earn accelerated (extra) reward points on:
- Flight bookings
- Hotel bookings
- Shopping vouchers (like Amazon & Flipkart)
- Bus travel
Earlier, ICICI Bank was not very competitive in terms of credit card rewards. But iShop changes that impression by offering high returns, especially for luxury cardholders.
How to Access the iShop Portal
You can access the iShop portal in two ways:
- If you already have an ICICI Bank account, use your Net Banking ID and password.
- If you only have an ICICI credit card, you can register separately on the iShop website.
Once logged in, you can explore categories and start earning rewards on eligible purchases.
Benefits of ICICI’s iShop Rewards Program
The biggest attraction of iShop is the high reward rates offered to premium cardholders. Let’s take a closer look.
Description of Reward Rates:
If you have either the Emeralde Private Metal Credit Card or the Times Black Credit Card, you get huge rewards on selected purchases through iShop.
Emeralde Private Metal Credit Card:
- Flights: Earn up to 18% rewards
- Hotels: Earn up to 36% rewards
Times Black Credit Card:
- Flights: Earn up to 12% rewards
- Hotels: Earn up to 24% rewards
These reward rates are much higher than normal credit card returns, which usually give 1% to 5%.
More Rewards on Vouchers:
- Get accelerated rewards on Amazon and Flipkart vouchers via iShop.
- Vouchers can be used later for shopping or gifting.
Monthly Reward Caps and Bonus Limits
Although reward rates are high, there are monthly limits on how many extra reward points you can earn.
Points to Remember:
- The monthly bonus cap is ₹12,000 for vouchers.
- For Emeralde Private Metal card, the monthly limit is 18,000 accelerated points.
- Bonus rewards are reset every calendar month.
- Rewards are credited within 90 days, or 45 days after the trip or hotel stay ends.
These caps ensure that you don’t get unlimited points, so plan big purchases accordingly.
Redemption of Reward Points on iShop
Once you’ve earned your points, how can you use them?
Description of Redemption Rules:
- Flights: Redeem up to 95% of booking value with points.
- Hotels: Redeem up to 90% using points.
- Vouchers: Redeem up to 50% using points.
- A redemption fee of ₹99 + GST applies per transaction.
Good News: If you own an Emeralde or Times Black card, this fee is waived.
Charges and Eligibility for Premium Cards
The iShop portal benefits are available only for certain premium ICICI credit cards.
1. Emeralde Private Metal Credit Card:
- Joining/Renewal Fee: ₹12,499 + GST
- Fee Waiver: Spend ₹10 lakh in a year
- Eligibility: By invitation or via Relationship Manager only
2. Times Black Credit Card:
- Joining/Renewal Fee: ₹20,000 + GST
- Fee Waiver: Spend ₹25 lakh in a year
- Eligibility: No public income criteria; apply via website
So, this program is ideal for high spenders, especially those who travel or shop frequently.
What’s Missing: No Option for Air Miles
One of the biggest disappointments with iShop is the lack of air miles transfer.
Description of Issue:
Unlike HDFC SmartBuy or Axis GrabDeals, ICICI does not allow you to convert your reward points into airline miles. This is a key drawback for frequent travelers who prefer to fly with airline miles.
So, if you are someone who collects airline miles like Air India Flying Returns or Singapore Airlines KrisFlyer, this platform might not be for you.
Comparison with Competitors
Here’s how ICICI’s iShop compares to similar platforms from other banks:
| Feature | ICICI iShop | HDFC SmartBuy | Axis GrabDeals |
|---|---|---|---|
| Max Flight Reward Rate | Up to 18% (Emeralde) | Up to 10X Points | Up to 5% Cashback |
| Max Hotel Reward Rate | Up to 36% (Emeralde) | Up to 10X Points | Up to 5% Cashback |
| Amazon/Flipkart Rewards | Yes, with monthly cap | Yes, varies | Yes, limited |
| Air Miles Conversion | ❌ Not Available | ✅ Available | ✅ Available |
| Redemption Fee | ₹99 (waived for top cards) | Varies | Varies |
ICICI iShop gives higher rewards in rupee value, but misses out on flexibility due to the lack of air miles.
Is iShop Worth It?
If you are a big spender and hold one of ICICI’s premium credit cards, iShop is definitely worth considering for booking flights, hotels, and buying vouchers. The reward rates are excellent, and the process is fairly simple.
However, for those who value air miles or want more flexible redemption options, you might want to look at HDFC Infinia, Axis Magnus, or Amex Platinum instead.
FAQs on ICICI’s iShop Credit Card Rewards
Q1: Can I use iShop with a basic ICICI credit card?
No, iShop offers best value only for premium cards like Emeralde and Times Black. Regular cardholders will get lower or no bonus rewards.
Q2: Do I need an ICICI Bank account to use iShop?
Not necessarily. You can register separately with your credit card if you don’t have a savings account.
Q3: How long does it take for reward points to show up?
It may take up to 90 days, or 45 days after hotel stay/flight completion, whichever is later.
Q4: Can I transfer ICICI reward points to airline miles?
No, ICICI’s iShop does not offer any air miles transfer option as of now.
Q5: Are there any hidden fees for redeeming rewards?
Yes, there is a ₹99 + GST redemption fee per transaction, unless you hold a premium card like Emeralde or Times Black.
Q6: Is the iShop portal safe?
Yes, the iShop portal is hosted and operated by ICICI Bank, and it is safe to use with proper login credentials.
Final Thoughts
ICICI’s iShop is a solid rewards program for those who travel often and shop frequently, especially if you hold high-end ICICI credit cards. The rewards can be very high, but the lack of air mile transfers limits its appeal for some users.
If you are not focused on air miles and want to earn high rewards on travel and shopping, iShop is one of the best platforms currently available from Indian banks.
Read Also: Best Credit Cards for International Travel