ICICI Bank and MakeMyTrip Launch Co-Branded Credit Card for Travel Enthusiasts

VarahiMedia.com online news,Mumbai,October 4th,2024: ICICI Bank has partnered with MakeMyTrip (MMT), India’s leading online travel company, to launch a premium co-branded credit card designed specifically for aspirational travelers in the country.

The feature-rich MakeMyTrip ICICI Bank Credit Card enhances the travel experience by offering unlimited rewards that never expire. Cardholders earn myCash, MakeMyTrip’s reward currency, valued at ₹1 for every unit spent. The card provides 6% myCash on hotel bookings, 3% myCash on flights, holidays, cabs, and buses, and 1% on other retail purchases, in addition to applicable discounts from MakeMyTrip.

This card features a dual offering, including cards powered by Mastercard and RuPay. The RuPay credit card can be linked to UPI, ensuring safe and secure transactions via UPI-enabled apps.

Moreover, the co-branded credit card grants complimentary MMTBLACK Gold membership, offering exclusive benefits on hotels, flights, and holiday packages. MMTBLACK members enjoy a minimum 10% discount on room and meal upgrades at select hotels and a 20% discount on food and beverage as well as spa services. Additionally, cardholders receive 25% off on select add-on services with every flight booking on the MakeMyTrip platform. The card also features an attractive forex mark-up rate of 0.99% and offers myCash equivalent to 1% of the transaction value. It comes with a joining and annual fee of ₹999 plus GST, with a MakeMyTrip gift voucher worth ₹1,000 provided upon fee payment.

Mr. Rakesh Jha, Executive Director of ICICI Bank, expressed, “We are excited to collaborate with MakeMyTrip to launch a new credit card with attractive rewards tailored for Indian consumers, especially travel enthusiasts. We have observed an increase in Indian travelers seeking richer rewards and flexibility in redemption that align with their preferences. The MakeMyTrip ICICI Bank Credit Card, powered by Mastercard and RuPay, offers unlimited, never-expiring rewards and MMTBLACK Gold membership, making it an excellent choice for travelers. This addition will enhance our existing range of credit cards and play a vital role in ICICI Bank’s personal banking experience for our customers.”

Mr. Rajesh Magow, Co-Founder and Group CEO of MakeMyTrip, stated, “We are thrilled to introduce the MakeMyTrip ICICI Bank Credit Card, which sets a new standard by offering a unique value proposition. By leveraging our deep understanding of the Indian customer, we have developed a card that combines comprehensive lifestyle privileges, never-expiring reward points, and complimentary MMTBLACK Gold membership, designed to provide unmatched benefits. With a seamless customer journey integrated into the MakeMyTrip platform, booking travel and redeeming rewards has never been easier. We are confident that the card’s value offering will resonate with travelers.”

Mr. Gautam Aggarwal, Division President for South Asia at Mastercard, noted, “India’s growth on the global stage has made Indians among the most traveled people in the world, with spending shifting towards experiential travel. India is also becoming a preferred inbound destination for its rich heritage, food, festivals, and spirituality. After launching Priceless India last October, Mastercard aims to create memorable moments for cardholders. We are excited to collaborate with ICICI Bank and MakeMyTrip to launch this card, which facilitates priceless experiences across 210 countries and territories. The new card offers an unmatched value proposition that will appeal to discerning Indian travelers.”

Mr. Rajeeth Pillai, Chief Relationship Management at NPCI, added, “The MakeMyTrip ICICI Bank Credit Card, powered by RuPay, delivers unparalleled benefits and rewards tailored for travel enthusiasts. ICICI Bank customers can also link their RuPay Credit Card to a UPI ID, enabling safe and secure transactions, thereby offering greater flexibility with a wide range of online and offline payment options without needing to carry physical cards.”

To facilitate trip planning, the co-branded credit card includes:

Unlimited Rewards That Never Expire:

• Earn 6% myCash on hotels, 3% myCash on flights, holidays, cabs, and buses on MakeMyTrip bookings, and 1% on other retail spends. The reward points are in addition to MakeMyTrip discounts.

Joining Benefits:

• MMT Voucher: Cardholders receive a voucher worth ₹1,000 upon payment of joining fees.
• MMTBLACK Gold Membership: This complimentary membership offers 24×7 support and additional privileges like upgrades, discounts, and cashbacks on flight and hotel bookings.

Renewal Benefits:

• MMT Voucher: Cardholders enjoy a hotel voucher worth ₹1,000 upon renewal of the MakeMyTrip ICICI Bank Credit Card.
• Fee Waiver: A fee waiver is available on spends of ₹3,00,000 in an anniversary year.

Travel Benefits:

• Attractive Forex Mark-up: While traveling abroad, cardholders can make merchant payments at a forex transaction fee of 0.99%.
• Complimentary Airport Lounge Access: Cardholders gain access to eight domestic and one international airport lounge per year.

Other Key Benefits:

• Lifestyle and Entertainment Benefits: Enjoy a buy-one-get-one offer of ₹150 off on the second ticket (twice a month) through BookMyShow and Inox. Additionally, users can indulge in delightful dining experiences with the ICICI Bank Culinary Treats programme.
• No-Cost EMI Offers: Enjoy three-month no-cost EMIs on all MakeMyTrip transactions made using this credit card.

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