ICICI HPCL Coral Credit Card

About ICICI HPCL Coral Credit Card

Are you tired of watching fuel prices eat into your monthly budget every time you visit the pump? The ICICI HPCL Coral Credit Card is built to turn those necessary fuel stops into savings opportunities.

This card offers a practical way to manage your commute costs. By spending just ₹4,000 to ₹5,000 monthly on your vehicle, you can easily hit the spending milestones required to make this card virtually free. It is a straightforward tool for anyone looking to earn back a portion of their daily travel expenses without dealing with complex reward structures.

Designed specifically for young professionals and small business owners earning ₹2.4 lakh or more annually, this card provides an entry-point into the world of credit rewards. It focuses on the essentials: low fees and consistent value at the petrol station.

What sets it apart:

• Ultra-Low Entry Barrier: Unlike the SBI BPCL card which costs ₹499, this card starts at a much lower joining fee of just ₹199.
• Easily Achievable Waivers: Spend just ₹50,000 in a year to get your annual fee back, a target that is much lower than many premium cards.
• Welcome Value: Get 2,000 reward points upon paying your joining fee, which helps you recover your initial cost almost immediately.

Quick check: To qualify, you need to be between 21 and 65 years old with a minimum monthly income of ₹25,000 (for salaried individuals) and a CRIF score of 750 or above.

Let's break down why this card might deserve a spot in your wallet:

Key Benefits and Features of the ICICI HPCL Coral Credit Card

Joining and Welcome Perks

When you start your journey with the ICICI HPCL Coral Credit Card, the bank helps you offset the initial cost. Upon payment of the one-time joining fee of ₹199, you receive approximately 2,000 welcome reward points. Since each reward point is valued at ₹0.25, this welcome bonus provides a value of ₹500, effectively covering your joining fee and giving you a head start on your savings.

Annual Fee and Waiver Conditions

One of the most attractive features of this card is its affordability. The annual fee is a modest ₹199. However, you do not even have to pay this if you use the card regularly. If your total spends in the previous anniversary year reach ₹50,000 or more, the bank reverses the ₹199 fee for the following year. This makes it an excellent "zero-cost" card for anyone who uses it for basic monthly utility or grocery spends alongside fuel.

Rewards Structure and Redemption

Every time you swipe your card, you accumulate reward points that can be turned into tangible value. The conversion rate is set at 1 Reward Point = ₹0.25. You can use these points to pay for fuel at HPCL pumps or choose other items from the bank's catalogue. To redeem your points, simply log in to your ICICI Internet Banking portal and navigate to the rewards section. It is a simple, digital-first process that does not require calling customer care or filling out physical forms.

Usage Restrictions to Note

To maximize your benefits, you need to know where the card does not earn points. The following categories are excluded from reward point earnings:

• Rent Payments
• ATM Cash Withdrawals
• Fuel Spends (Note: While this is a fuel card, points are replaced by surcharge waivers and 2.5% cashback benefits at HPCL pumps)
• EMI Transactions
• Wallet Loads
• Purchase of Gift Cards or Vouchers
• All transaction reversals

Eligibility Criteria

The bank has set clear guidelines for who can apply for this card. Meeting these criteria improves your chances of a quick approval:

• Age: Both salaried and self-employed applicants must be between 21 and 65 years old.
• Credit Score: A CRIF score of 750 or higher is required to meet the bank's internal policy.
• Income for Salaried: A minimum monthly income of ₹25,000 is necessary.
• Income for Self-Employed: An annual income of at least ₹2.4 lakh (as per ITR) is required.

How to Apply for the ICICI HPCL Coral Credit Card

The application process for the ICICI HPCL Coral Credit Card is straightforward and can be completed through the bank's official channels. Follow these steps to get started:

1. Visit the Official Portal: Go to the ICICI Bank credit cards page and locate the HPCL Coral variant.
2. Check Your Eligibility: Before filling out the full form, ensure you meet the age requirement (21-65 years) and the minimum income threshold of ₹25,000 per month.
3. Fill the Application: Enter your personal details, including your mobile number, PAN card, and employment information.
4. Submit Documentation: Provide the necessary digital copies of your ID and income proof for verification.
5. Verify with CRIF: The bank will pull your credit report. Ensure your CRIF score is at least 750 to avoid rejection.
6. Wait for Approval: After submission, the bank will review your application. Processing typically takes 7 to 10 working days, though pre-approved offers generally result in instant issuance.

Credit Limit and What to Expect

Credit limits for the ICICI HPCL Coral Credit Card are not fixed and are assigned based on your individual financial profile. The bank evaluates your monthly income, your existing debt-to-income ratio, and your CRIF score before deciding the limit.

For most new-to-credit or entry-level applicants, the starting credit limit typically ranges from ₹30,000 to ₹60,000. However, those with a long-standing relationship with ICICI Bank or a higher income may receive a significantly higher limit. If you use the card responsibly and pay your bills on time, you may become eligible for a limit increase after 6-12 months of usage. Most users in this income bracket can expect a credit limit between ₹40,000 and ₹1,50,000.

Comparison Table: Fuel Credit Cards in India

Choosing the right fuel card depends on where you pump and how much you spend. Here is how the ICICI HPCL Coral compares to its main competitors:

The ICICI HPCL Coral is the clear winner for users who want a low-cost entry into fuel rewards. While cards like the SBI BPCL offer a higher value back rate, the ICICI card's lower joining fee and accessible eligibility make it an ideal "starter" card for those who do not want high recurring costs.

Documents Required for ICICI HPCL Coral Credit Card Application

You'll need to submit the following documents when applying:

For Salaried Applicants

• Identity Proof: PAN Card (mandatory), Aadhaar Card, Passport, Voter ID, or Driving License
• Address Proof: Aadhaar Card, Passport, Utility Bills (not older than 2 months), Rent Agreement, or Property Tax Receipt
• Income Proof: Latest 3 months' salary slips and 6 months' bank statements
• Employment Proof: Office ID card or employment letter

For Self-Employed Applicants

• Identity Proof: PAN Card (mandatory), Aadhaar Card, Passport, Voter ID, or Driving License
• Address Proof: Aadhaar Card, Passport, Utility Bills (not older than 2 months), or Property Documents
• Income Proof: Latest 2 years' ITR with computation of income, 6 months' bank statements, and CA-certified financials
• Business Proof: Business registration certificate, GST registration (if applicable), or Shop Act License

Note: All documents must be self-attested. The bank will request additional documents during verification if discrepancies are found in your initial submission.

Who Should Get This Card?

Should you get this card? Here is who benefits most from the ICICI HPCL Coral Credit Card:

The Daily Commuter: If you are a professional who rides a bike or drives a car to work daily and spends about ₹3,000-₹4,000 on fuel every month, this card is a great fit. Your annual fuel spend alone will cross the ₹40,000 mark, putting you very close to the annual fee waiver limit of ₹50,000 without any extra effort.

The First-Time Card Holder: If you earn ₹25,000 a month and have never had a credit card before, this is an excellent choice. The income requirement is accessible, and the low annual fee of ₹199 means you won't feel the pinch while you learn how to manage credit and build your CRIF score.

The HPCL Loyalist: If your neighborhood or office has a reliable HPCL petrol pump, this card becomes a simple tool for consistent savings. Unlike multi-brand cards that might have higher fees, this co-branded card rewards your loyalty to one specific brand with lower overhead costs.

You might want to skip this card if... you rarely drive and spend most of your money on online shopping or travel. In that case, a generic cashback card or a travel-focused card would provide better value than a fuel-specific card with exclusions on wallet and online gift card purchases.

BankKaro Expert Review

Based on the card's features, the ICICI HPCL Coral Credit Card excels as a budget-friendly utility tool. It is not trying to be a premium lifestyle card; it is designed to do one thing well: reduce your fuel bill. The low joining fee of ₹199 is its strongest selling point, making it one of the most affordable co-branded cards in the Indian market today.

The biggest limitation is the reward conversion rate. At ₹0.25 per point, you need to accumulate a large number of points to see significant savings. Additionally, the exclusion of rent payments and wallet loads is a drawback for those who use their credit cards for all monthly overheads. However, given that it only requires a ₹50,000 annual spend to waive the fee, these limitations are easy to overlook for a casual user.

Our verdict: Choose this card if you want a simple, low-maintenance card for your fuel needs and you meet the ₹25,000 monthly income criteria. It is a reliable "workhorse" card for your wallet that pays for itself with very little effort.

Terms and Conditions

Before applying, please keep the following terms in mind:

• The bank may offer a different card variant based on your specific eligibility and credit profile. Always review the features of the specific card offered before signing.
• Reward points are not earned on fuel spends, but are instead focused on other categories (specifically the 1% fuel surcharge waiver valid on transactions up to ₹4,000 at HPCL pumps).
• The ₹50,000 spend for the annual fee waiver must be achieved within the previous anniversary year to trigger the reversal.
• For complete terms and conditions regarding interest rates and late payment charges, refer to the Most Important Terms and Conditions (MITC) document, with finance charges standardly set at 3.4% per month.