MakeMyTrip x ICICI Signature Credit Card Review: Perks & Worth It?

This review was written by reader Satish Kumar Agarwal, who recently received the MakeMyTrip ICICI Bank Visa Signature Credit Card. Over to him:

ICICI Bank’s presence in the credit card market has historically lagged behind its strong banking franchise, but recently the bank appears to be taking a more aggressive stance in this segment with new card launches and attractive online offers. As a long-standing ICICI savings customer of 18 years, I had previously ignored their LTF Platinum chip card because the Payback rewards didn’t appeal to me. I also passed on the Jet Sapphiro card since I am not a frequent flyer.

When I noticed ICICI’s newer co-branded cards and shopping offers, I looked for options outside the Payback ecosystem. I was interested in the Amazon Pay ICICI Bank Visa credit card that launched in late October 2018, but it was invitation-only so I couldn’t apply. While waiting, I discovered the MakeMyTrip (MMT) ICICI Signature credit card launched around September 2018. This review covers my experience with that card.

Joining Fees

• Joining fee: Rs. 2,500 + GST (total Rs. 2,950)
• No annual fee from the second year onward (a welcome feature similar to some other banks)

Welcome Offers

1. Lemon Tree hotels voucher worth Rs. 2,500 (no minimum spend; included in the welcome kit)
2. MyCash credit of Rs. 1,500 in your MMT account (no usage restrictions; valid for 1 year)
3. Auto-enrolment in MMTDOUBLEBLACK for the first year (a membership normally valued at a minimum of Rs. 999 if bought via HDFC cards, otherwise Rs. 1,499) and access to MMTBLACK benefits
4. Complimentary 10-day Airtel international roaming pack when you book an international flight or hotel with this card during the specified offer period

If you can use the Lemon Tree voucher, the welcome package becomes quite valuable.

Regular Offers

1. 1 international lounge visit and 1 spa session at selected domestic airports per year via a Dreamfolks DragonPass membership
2. 1 complimentary railway lounge access per quarter (currently limited to around 3–4 lounges)
3. Domestic airport lounge visits: 2 per quarter via Visa lounge access
4. 2 complimentary movie tickets every month (Buy 1 Get 1) up to Rs. 300 per ticket through BookMyShow, subject to availability
5. Every sixth Ola ride free (up to Rs. 150 per complimentary ride). You must complete five paid rides and use the sixth ride within the same month; the counter resets monthly

The lounge and spa perks were a major reason I chose this card, even though the complimentary accesses are limited. These features are currently offered on only a few ICICI credit cards.

Rewards

• Flight bookings on MMT: 1% MyCash
• Hotel/holiday bookings on MMT: 2% MyCash
• Domestic spends outside MMT: 0.6% MyCash
• International spends outside MMT: 0.75% MyCash

Milestone spends

• Spend Rs. 2.5 lakh in a year — receive Rs. 1,100 MyCash each anniversary year
• Spend Rs. 5 lakh in a year — receive an additional Rs. 4,000 MyCash each anniversary year (on top of the Rs. 1,100)

On blended usage the effective earning rate is about 1%, which is modest for a Visa Signature card. Given that renewal fees are waived from the second year, the card remains reasonable for users who value the benefits. If you use the card extensively on MMT and get the MMTBLACK benefits, the effective returns can be much higher—up to around 6% on certain spend levels—though MyCash earned via some MMTBLACK promotions may have shorter validity, such as three months.

My Experience

Application process: I applied online on 25 November and received a call the next day saying a representative would collect the physical application and documents. The executive arrived on 28 November. The form asked for two references with contact numbers, which I found unusual. The stated processing time was up to 21 working days.

The executive informed me that the form would be couriered to the card processing center before further action—an old-fashioned step that felt out of sync with digital expectations. Overall, the initial experience was a bit disappointing.

Card processing timeline:

• 25.11.18 – Applied online
• 28.11.18 – ICICI executive picked up application and KYC documents
• 22.12.18 – Received application reference number by email (first communication after applying)
• 02.01.19 – Received card approval notification via SMS and email
• 05.01.19 – Received card dispatch alert via SMS and email
• 06.01.19 – Card delivered and delivery confirmation received
• 13.01.19 – Dreamfolks DragonPass membership delivered

It took about 21 working days to issue an application reference number, and around 31 working days from document pickup to card delivery—longer than my experience with some other cards, which can be processed in roughly 12 working days.

Bottomline

This card is best suited for users who want the specific lifestyle perks—railway lounge access, airport spa sessions, and merchant promotions—rather than for maximizing reward rates on very high spends. With no renewal fee after the first year and attractive welcome benefits, it can be a worthwhile hold if you haven’t been invited to other higher-return invitation-only cards.

• Cardexpert Rating: 3.5/5

It’s not a standout in terms of raw rewards, but the unique access and welcome benefits make it worth considering if those perks match your lifestyle. What are your thoughts on the ICICI MMT card?