ICICI Bank Platinum Chip Credit card Visa vs Rbl Platinum Choice Mastercard Credit Card: Which is Better in 2026?
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The ICICI Bank Platinum Chip Credit card Visa and the RBL Platinum Choice Mastercard Credit Card both offer reward points and have forex markup fees of 3.5%. ICICI Bank's card has no joining or annual fees, while RBL Bank charges an annual fee of Rs.499 with a waiver on spending Rs.50,000. Neither card provides domestic or international lounge access, and both focus on reward points rather than cashback or travel-specific benefits.
Comparison notes and quick badges use AI, grounded in the benefit data shown in the table. Confirm details on each issuer’s site.
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| Feature | ICICI Bank Platinum Chip Credit card Visa | Rbl Platinum Choice Mastercard Credit Card |
|---|---|---|
| Bank | ICICI Bank | RBL Bank |
| Network | Visa | MasterCard |
| Joining fee | No Joining Fees | — |
| Annual / renewal fee | No Annual Fee | Annual Fee of Rs.499 |
| Annual fee waiver | — | Spend Rs.50000 For Waiver of Annual Membership Fee |
| Reward rate (headline) | Earn 2 Reward Points per Rs.100 | Earn 1 Reward Points per Rs.100 |
| Welcome benefit | — | 2000 Reward Points on Payment of Annual Fee |
| Foreign currency markup | 3.50% - Foreign Currency Transactions | 3.5% - Foreign Currency Transactions |
Which is better for rewards?
For rewards, the ICICI Bank Platinum Chip Credit card Visa offers 2 reward points per Rs.100 spent on retail, which is higher than RBL Platinum Choice Mastercard's 1 point per Rs.100. Additionally, ICICI provides 1 reward point per Rs.100 on utilities and insurance, while RBL offers 2X points on online spends but with a capping of 1000 points. ICICI's reward points can be redeemed at Rs.0.25 per point, providing a clear redemption value. Overall, ICICI's card has a more straightforward and potentially higher reward accrual for general spenders.
Which is better for travel?
Neither card offers dedicated travel benefits such as lounge access or travel vouchers. Both charge a 3.5% forex markup on foreign currency transactions, which is standard but not particularly travel-friendly. Therefore, for travel-related perks, both cards are on par and may not be the best choice for frequent travelers seeking premium travel benefits.
Which has lower effective cost?
The ICICI Bank Platinum Chip Credit card Visa stands out with no joining or annual fees, making it cost-effective for users who want to avoid recurring charges. In contrast, the RBL Platinum Choice Mastercard Credit Card has an annual fee of Rs.499, which can be waived only after spending Rs.50,000 annually. This makes ICICI's card more suitable for cost-conscious users or those with lower annual spends, while RBL's fee waiver condition requires moderate spending to avoid the fee.
Reward Point Redemption and Value
ICICI Bank clearly states a redemption value of 1 reward point equal to Rs.0.25, providing transparency on reward value. RBL Bank allows redemption against shopping, travel, and mobile recharge but does not specify a fixed redemption rate, which may require users to check terms for exact value.
Fee Waiver Conditions
ICICI Bank Platinum Chip Credit card Visa has no annual fee, so no waiver conditions apply. RBL Platinum Choice Mastercard requires spending Rs.50,000 annually to waive the Rs.499 fee, which may be a consideration for moderate spenders.
Who should pick ICICI Bank Platinum Chip Credit card Visa?
Consider ICICI Bank Platinum Chip Credit card Visa if you prefer a no-fee credit card with straightforward reward points on retail, utilities, and insurance spends. It is suitable for users who want to earn rewards without worrying about annual fees or complex fee waivers. This card is also a practical choice if you want a simple card without travel or lounge benefits but with consistent rewards accrual.
Who should pick Rbl Platinum Choice Mastercard Credit Card?
Consider RBL Platinum Choice Mastercard Credit Card if you are comfortable paying an annual fee that can be waived with moderate spending and want to maximize rewards on online purchases with 2X points. This card may appeal to users who spend significantly online and can benefit from the welcome bonus of 2000 reward points upon fee payment. However, be mindful of the annual fee if your spending does not meet the waiver criteria.
Frequently Asked Questions
Both ICICI Bank Platinum Chip Credit card Visa and RBL Platinum Choice Mastercard Credit Card charge a forex markup of 3.5% on foreign currency transactions.
ICICI Bank Platinum Chip Credit card Visa has no joining or annual fees. RBL Platinum Choice Mastercard Credit Card charges an annual fee of Rs.499, which can be waived by spending Rs.50,000 in a year.
ICICI Bank Platinum Chip Credit card Visa offers 2 reward points per Rs.100 on retail spends, which is higher than RBL Platinum Choice Mastercard's 1 point per Rs.100. RBL offers 2X points on online spends but with a capping.
Neither card offers domestic or international lounge access benefits.
RBL Platinum Choice Mastercard Credit Card offers 2000 reward points on payment of the annual fee. ICICI Bank Platinum Chip Credit card Visa does not provide welcome benefits.
Yes, the Rs.499 annual fee on RBL Platinum Choice Mastercard Credit Card can be waived if you spend Rs.50,000 in a year.