ICICI Bank Revamps Credit Card Benefits From 1 February 2026

ICICI Bank has rolled out a fresh set of changes affecting how its credit cardholders earn rewards and enjoy perks. These updates, coming into effect from 1 February 2026, touch upon entertainment benefits, reward point accrual on certain spending categories, and other rule adjustments that many users will feel during everyday use. 

The bank’s move forms part of a broader trend among Indian lenders to adjust credit card features to match evolving customer behaviour and cost structures.

Goodbye to Free Movie Tickets

One of the most talked-about alterations is the withdrawal of complimentary movie benefits via BookMyShow on select ICICI credit cards. These benefits have been a popular draw, especially among users of the Instant Platinum Chip and Instant Platinum cards. 

From the start of February, these specific cards will no longer offer free movie ticket perks, which many cardholders may see as a reduction in lifestyle value.

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At the same time, other ICICI credit cards may retain BookMyShow offers subject to spending thresholds in a preceding quarter, though this is not uniformly applied. The phasing out of unconditional free entertainment benefits signals a shift in how banks balance perks with profitability and consumer usage patterns.

Revised Reward Points on Transport & Insurance Spends

ICICI has also updated how reward points are awarded on everyday transactions like transport and insurance. Under the new structure, reward points on transportation-category spends will continue, but with monthly caps depending on the card type. 

Premium cards such as Rubyx, Sapphiro, and Emeralde variants will typically earn points on transport transactions up to ₹20,000 per month, while many other cards will have smaller caps around ₹10,000 per month.

For insurance spends, holders of the HPCL Super Saver credit card will continue to receive reward points at the existing earn rate for insurance payments up to ₹40,000. These changes mean that while rewards remain available, cardholders who frequently use transport or insurance payments to accumulate points may see slower reward accumulation if their monthly spends exceed the capped thresholds.

Other Costs and Charges You Should Know

Though the BookMyShow benefit change takes centre stage, ICICI’s adjustments also include broader fee updates that have already started rolling out from January 15 2026. 

These include a 2 per cent levy on online gaming transactions, fees on loading funds into third-party wallets beyond certain amounts, and charges on high-value transport transactions exceeding ₹50,000. Such fees reflect a wider industry trend where banks seek to recoup rising operational costs while still offering competitive base products.

Also Read : ICICI Coral Credit Card Benefits

Credit cards are no longer just simple payment tools; they are bundled bundles of perks, fees, and conditional benefits. As a result, any change can alter how valuable a card feels to its user. ICICI Bank’s latest updates fit this pattern, prompting cardholders to reassess which cards still align with their lifestyle and spending habits.

What This Means for Cardholders

For many cardholders, the loss of free movie tickets may be the most visible and talked-about change, particularly for those who often used that benefit. Meanwhile, caps on reward point earnings and new charges on specific transactions could make everyday spending yield fewer perks than before.

Those who rely heavily on transport or entertainment categories for rewards might want to evaluate whether their current card still delivers the best value for their spend patterns. At the very least, awareness of the new rules will help avoid surprises in reward earnings and monthly statements.

Bottom Line
From February 1 2026, ICICI Bank has restructured several credit card benefits, notably dropping the complimentary BookMyShow perk on select cards and tightening how reward points accrue on key categories. Coupled with other fees introduced earlier in the year, these alterations underscore a shift toward more targeted and conditional benefits rather than blanket privileges.