ICICI Bank Rubyx Credit Card
ICICI Rubyx is a dual-network card — you get both a Visa/Mastercard and an Amex on one account, which means two lounge programmes, two offer ecosystems, golf and concierge on a single bill for ₹2,000 a year (waivable at ₹3 lakh). That perk bundle is the genuine draw; the rewards are middling — 2 ICICI Reward Points per ₹100 domestic (~0.5% at about ₹0.25/point) and 4 RP per ₹100 international (~1%), plus milestone points (3,000 RP at ₹3 lakh, then +1,500 per ₹1 lakh, up to 15,000/year). Utility and insurance spends earn at half that — 1 RP per ₹100 — and government payments are billed as utilities, so they earn at the same halved rate rather than nothing. Since Nov 2024 those categories are also capped per statement cycle — ₹80,000 of utility spend, ₹80,000 of insurance and ₹40,000 of grocery, each worth 800 points, after which they earn nothing until the cycle turns. Lounge access runs 2 domestic visits a quarter on ₹75,000 of prior-quarter spend plus 8 railway visits a year, with golf rounds tied to monthly retail spend. The 2026 ICICI devaluation added spend gates and exclusions (BookMyShow at ₹25k/quarter, transport capped, fuel, rent and wallet loads dropped). Lean on the Visa side for everyday acceptance and buy it for the lounges, not the earn.
Key features
What this card is built to do — the highlights that actually matter.
Welcome Benefit
~₹2,000 in vouchers, points or cashback on card activation
1% on International
4 ICICI Reward Points per ₹100 on international spends (~1%)
0.5% on Other
2 ICICI Reward Points per ₹100 domestic (~0.5%) + milestones (3,000 RP at ₹3L, +1,500/₹1L, max 15,000/yr); fuel, rent and wallet loads earn nothing
️ Airport Lounge Access
2 complimentary visits per quarter at domestic and international airport lounges
Annual Fee Waiver
Fee of ₹2,000 + 18% GST (₹2,360 all-in)/yr fully waived when you spend ₹3,00,000/year
Golf Privileges
A round or lesson of golf for every ₹50,000 of retail spend in the previous calendar month, up to 2 a month
Movie Ticket Benefit
25% off, capped at ₹150, twice a month each on BookMyShow and INOX; needs ₹25,000 of spend in the preceding quarter
Milestone Bonus
~₹750 in bonus rewards on hitting annual spend milestones
Full reward structure
| Category | Type | Rate | Monthly cap |
|---|---|---|---|
| International | reward points | 1% | — |
| Other | reward points | 0.5% | — |
| Groceries | reward points | 0.5% | ₹200 |
| Utility Bills | reward points | 0.25% | ₹200 |
| Insurance | reward points | 0.25% | ₹200 |
Fees & charges
| Charge | Amount |
|---|---|
| Annual fee (incl. 18% GST) | ₹2,360 |
| Joining fee (incl. 18% GST) | ₹3,540 |
| Finance charge (APR) | 3.75% p.m. |
| Forex markup | 3.5% |
Perks & benefits
Estimated annual value beyond rewards — ~₹9,150/yr in total.
️ lounge access ~ ₹4,000 /yr
2 domestic airport lounge visits a quarter, unlocked by ₹75,000 of spend in the preceding quarter, plus 2 railway lounge visits a quarter
movie ticket ~ ₹1,800 /yr
25% off, capped at ₹150, twice a month each on BookMyShow and INOX; needs ₹25,000 of spend in the preceding quarter
golf ~ ₹2,000 /yr
A round or lesson of golf for every ₹50,000 of retail spend in the previous calendar month, up to 2 a month
fuel waiver ~ ₹600 /yr
1% fuel surcharge waiver on transactions of ₹400–₹4,000 at any fuel outlet
milestone bonus ~ ₹750 /yr
3,000 Reward Points at ₹3L of annual spend, then 1,500 RP per additional ₹1L, up to 15,000 RP a year
Spend milestone
· ₹3,00,000 a year ₹750 of value
Should you get it?
Best for: Everyday spenders, Online shoppers
Mid tier — a solid all-rounder for steady monthly spend.
Strongest value if you spend heavily on International ( 1% back).
Frequent travellers benefit from the included airport lounge access.
✓ Pros
- Strong rewards that can offset the annual fee for the right spender
- Simple, accessible entry/mid-tier card
✕ Cons
- Annual fee applies unless the spend-based waiver is met
- Fewer premium travel and lifestyle perks
- Utility, insurance and grocery earning is capped every statement cycle
Eligibility & documents
Age
21 –65 years
Min. income
₹75,000 /mo
Employment
Salaried · Self-employed · Student
Documents required
- PAN card
- Aadhaar / valid address proof
- Latest 3 months bank statement
- Income proof — salary slips (salaried) or ITR (self-employed)
- Recent passport-size photograph
How to redeem rewards
Ways to convert what you earn into real value.
🎁 Statement credit / cashback adjustment
🎁 Online rewards catalogue (vouchers, merchandise)
🎁 Flight & hotel bookings via the issuer rewards portal
🎁 Airline / hotel partner point transfers (on eligible cards)
What your ICICI Reward Points are worth
Realistic value per point by redemption route — the difference is what most people leave on the table.
Statement credit BEST 1 RP = ₹0.40 against the statement — ICICI's only published rate
Amazon / Flipkart vouchers BEST Voucher store; ICICI publishes only an 'up to ₹1' ceiling, never a realised rate
iShop flights & hotels BEST iShop travel; rate is set per card at checkout, so the ₹1 ceiling is not a value
Air India Maharaja transfer Air India is ICICI's only transfer partner, and the ratio splits 6x by card: Emeralde Private Metal and Times Black convert 1:1 (⇒ ₹1/pt), every other eligible card 6:1 (⇒ ₹0.17/pt — worse than the ₹0.40 voucher route, so on those cards transferring destroys value). Min 2,000 points; credited in up to 5 working days.
✈ Transfer partners ✈ Air India Maharaja Club ( 6:1 ) Value your balance: ICICI Reward Points ✈ Air India Maharaja Club ( 6:1 ) ₹ 1,700 vs. typical redemption ₹ 4,000 Direct transfers from this card only, ranked by what a point is worth in the destination programme . Full calculator, every currency → The concern The core earn is just ~0.5%, the 2026 gates/exclusions bite, and patchy Amex acceptance undercuts the headline dual-network benefit.
The bottom line
The dual-network setup on the Rubyx delivers more real value than it might first appear — two separate lounge programmes and two sets of merchant offers billed together make it a credible mid-tier travel companion. Where it falls short is the earn rate, which sits around a modest 0.5% on the base, further squeezed by the 2026 devaluation's new spend gates and category exclusions, while Amex's patchier acceptance in India undercuts some of the dual-card advantage. Best to think of it as a card bought for lounge access first, and rewards a distant second.
Sources & verification
Fees, reward rates, and benefits for the ICICI Bank Rubyx Credit Card are taken from ICICI Bank 's official Most Important Terms & Conditions (MITC) and fee schedule — see the card's official page . Last verified 13 Aug 2026 . Reviewed by Devchandra Sah . Always confirm current details on the issuer's site before applying. How we research →
Independence. CardAdvisor is an independent editorial publication. We are not affiliated with, endorsed by, sponsored by, or authorised to act for ICICI Bank . All issuer names, product names, and payment-network marks are the property of their respective owners and appear here for identification and comparison only. Card faces shown on this site are our own original illustrations — we do not display or host issuer card artwork or logos.
Value timeline
Every real-world change to this card's rewards, fees and benefits we've tracked — newest first, each linked to its source.
Tracking since 2011 · 9 changes · last change Apr 2026
▲ Revaluation ▼ Devaluation ◆ Neutral / reversed
2026 4 changes — 4 cuts
▼ Benefit Observed 17 Dec 2025 · Effective 1 Apr 2026
BookMyShow movie benefit becomes spend-gated
Complimentary → Requires ₹25,000 spend in previous quarter
From 1 Apr 2026 the Rubyx's BookMyShow movie-ticket benefit is unlocked only if the cardholder spent at least ₹25,000 in the preceding quarter — a shift from an unconditional perk to a spend-gated one.
Verification: ICICI Bank ↗ · Confidence: High
▼ Reward Observed 17 Dec 2025 · Effective 1 Feb 2026
Transport-category earning capped
Transport spends earned uncapped → Transport rewards capped at ₹20,000 per statement cycle
From 1 February 2026 ICICI capped the reward points earned on transport-category spends — rail, bus, taxi, tolls and similar — at ₹20,000 of spend per statement cycle on its Gemstone-tier cards. Spend above the cap still posts to the card, it simply stops earning. The cap is per statement cycle, not per month, so a long cycle does not buy extra headroom.
Verification: ICICI Bank ↗ · Confidence: High
▼ Reward Observed 17 Dec 2025 · Effective 15 Jan 2026
Fuel, rent and wallet loads stripped of rewards; government re-bucketed into utilities
Wider earning base; government spend earned at the 2 RP/₹100 retail rate → Fuel, rent & third-party wallet loads excluded; government billed as utilities at 1 RP/₹100
ICICI's 2026 round stopped fuel, rent and third-party wallet loads from earning reward points on the Rubyx. Government spends were not stripped outright, as widely reported at the time — ICICI reclassified them as utility transactions, so they continue to earn at the halved utility rate of 1 RP per ₹100 rather than the 2 RP per ₹100 retail rate. Everyday retail continued to earn 2 RP per ₹100 domestic.
Verification: ICICI Bank ↗ · Confidence: High
▼ Fee Observed 22 Dec 2025 · Effective 15 Jan 2026
New wallet, gaming and transport transaction fees
No such fees → 1% wallet loads >₹5k/mo; 2% online gaming; 1% transport >₹50k/mo
As part of ICICI's portfolio-wide 2026 revision (Rubyx explicitly named), the card added a 1% fee on third-party wallet loads (Amazon Pay/Paytm) above ₹5,000/month, a 2% fee on online-gaming spends regardless of amount, and a 1% fee on transport spends above ₹50,000/month.
Verification: CardAdvisor Research · Confidence: High
2024 3 changes — 3 cuts
▼ Lounge Observed 11 Oct 2024 · Effective 15 Nov 2024
Domestic lounge spend-gate more than doubled
₹35,000 per quarter → ₹75,000 per quarter
In ICICI's system-wide November 2024 restructure the Rubyx's complimentary domestic lounge access was re-gated: cardholders must now spend ₹75,000 in a calendar quarter (up from ₹35,000) to unlock the two-visits-per-quarter benefit in the following quarter. The Rubyx is explicitly named among the affected gemstone-collection cards; premium Emeralde variants were exempted from the gate.
Verification: ICICI Bank ↗ · Confidence: High
▼ Reward Observed 11 Oct 2024 · Effective 15 Nov 2024
Reward caps and category exclusions added
Uncapped grocery/utility/insurance; broad waiver & milestone base → Grocery ₹40k, utility ₹80k, insurance ₹80k of spend per statement cycle; rent/govt/education excluded from waiver & milestones
The same November 2024 revision capped Rubyx earning on three categories per statement cycle — ₹40,000 of grocery and departmental-store spend, ₹80,000 of utility and ₹80,000 of insurance. ICICI publishes the caps in rupees of spend, not points; at the Rubyx's rates each works out to 800 Reward Points a cycle. Rent, government and education spends were separately excluded from fee-waiver and milestone calculations. Government spend itself kept earning — ICICI had already re-bucketed it as a utility payment in Feb 2024, so it earns the halved 1 RP per ₹100 and counts against the utility cap.
Verification: CardAdvisor Research · Confidence: High
▼ Reward Effective 5 Feb 2024
Rent and e-wallet loads stop earning points
Rent & e-wallet loads earned points → Rent & e-wallet loads excluded
From 5 Feb 2024 ICICI stopped awarding reward points on rent payments and e-wallet loading transactions across its cards, Rubyx included — the first post-launch category carve-out. Utility payments continued to earn.
Verification: ICICI Bank ↗ · Confidence: High
2022 1 change — 1 neutral
◆ Redemption Effective 1 Apr 2022
Rewards move from PAYBACK to ICICI Bank Rewards
PAYBACK points → ICICI Bank Reward Points
ICICI Bank exited the shared PAYBACK programme: points stopped accruing to PAYBACK (now Zillion) after 31 Mar 2022, with new ICICI Bank Reward Points accruing from 1 Apr 2022 and redeemable through ICICI's own catalogue from 15 Aug 2022. Rubyx earning migrated with the rest of the portfolio; point validity is 36 months.
Verification: ICICI Bank ↗ · Confidence: High
2011 1 change — 1 neutral
◆ Launch Effective 21 Dec 2011
ICICI Rubyx dual-network platinum card launched
ICICI Bank launched the Rubyx as India's first dual-network platinum card — a single account issuing two physical cards (an American Express Platinum and a MasterCard Platinum Chip) on one statement and one fee. Launch perks included five complimentary Jet Airways tickets on joining, three switchable reward plans with 50% bonus points on chosen categories, minimum 15% dining savings at 450+ restaurants, and lounge access across both the Amex Altitude and MasterCard networks.
Verification: CardAdvisor Research · Confidence: Reconstructed
↓ Show all 9 changes Each change links to the issuer's own document — bank T&C, MITC, notice, press release or product page — where one is public. Where the bank published nothing, it's marked CardAdvisor Research and verified against the card's current terms. Independent of the live terms shown above. This timeline is one card's slice of our market-wide change record across every tracked card.
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Source: ICICI Bank Rubyx Credit Card value timeline — CardAdvisor
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Source: ICICI Bank Rubyx Credit Card value timeline , CardAdvisor (CC BY 4.0).
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Quick summary
Type Mid credit card
Reward rate 0.5%–1%
Best for Everyday spenders
Joining fee ₹3,000
Annual fee ₹2,000
Reviewed by
Devchandra Sah · Cards tested, miles earned, trips booked — for over a decade
Last verified 13 Aug 2026
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