ICICI Bank has long issued HPCL co-branded credit cards on both Visa/Mastercard and American Express networks. These cards were once among the better options for fuel-related benefits, but changes over time have reduced their appeal. Below is a concise overview of the fees, rewards and whether the card is worth considering today.
Table of Contents
- Joining Fees
- Rewards (Mastercard/Visa)
- Rewards (Amex)
- Is it worth taking?
- So why did I take it?
Joining Fees
| Joining Fee | Rs.199 + GST |
| Welcome Benefit | Nil |
| Renewal Fee Waiver | Spend Rs.50,000 in a year |
The card charges a modest joining fee and offers a clear renewal-fee waiver condition. For many new cardholders, the renewal waiver threshold is reasonable and attainable.
Rewards (Mastercard/Visa)
| Regular spends | 0.5% (2 Payback Points per Rs.100) |
| Fuel spends (cashback) | 2.5% (up to Rs.100 per month) |
| Fuel surcharge waiver | 1% (up to Rs.4,000 per transaction) |
Rewards (Amex)
| Regular spends | 0.5% (2 Payback Points per Rs.100) |
| Fuel spends (cashback) | 2.5% (up to Rs.100 per month) |
| Fuel spends (rewards) | 1.5% (6 Payback Points per Rs.100) — only on ICICI swipe terminals |
| Fuel surcharge waiver | 1% (per transaction limit: up to Rs.4,000) |
The Amex variant offers the best value among the two, primarily because of the additional Payback points on fuel when transacting on ICICI swipe machines. Recent reports, however, indicate inconsistent fulfilment of points and cashback, and ICICI’s requirement to use its own POS terminals has affected eligibility for some users.
Is it worth taking?
No. Given current fulfilment issues and the tight caps and conditions on fuel benefits, this card is not a competitive choice today.
The Amex version held value in the past, but ongoing inconsistencies in rewards and the restriction to ICICI terminals have significantly reduced its utility. For most cardholders, fuel-centric credit cards offer limited real-world advantage because of low monthly caps and restrictive terms.
- Cardexpert Rating: 3.5/5
If you only need an ICICI credit card to maintain a credit limit, consider a lifetime-free option such as the ICICI Platinum credit card or other basic ICICI offerings that keep your account active without relying on small fuel rewards. These alternatives are simpler to use and avoid the hassles associated with fuel-specific caps and terminal restrictions.
Note: Some ICICI cards may not be eligible for all merchant-specific offers.
So why did I take it?
I applied for the HPCL Coral card to keep my ICICI account active after my ICICI Emeralde card was due for renewal and I couldn’t secure a renewal fee waiver. I explored product switches but was either denied or the options were unclear, so I accepted the Coral card mainly to preserve my credit line.
I had hoped for a refreshed design and better benefits, but the card disappointed. I do not plan to optimize tiny monthly fuel caps or chase minimal rewards; for most people that effort is not worth the limited returns.
Our time is valuable — choose cards that provide clear, substantial benefits rather than marginal gains with restrictive conditions.