Times Black ICICI Bank Credit Card Review 2026: 2% Rewards, ₹0.40 a Point, 1.49% Forex & FAQs
Times Black ICICI Bank Credit Card charges ₹20,000 and earns 2% in Reward Points domestically and 2.5% internationally, at a published ₹0.40 a point — the only published rate in the ICICI range. Unlimited lounges, 1.49% forex, fees and FAQs.
Times Black is ICICI's invite-only flagship at ₹20,000 a year, and it is the only card in the bank's range for which ICICI actually publishes what a Reward Point is worth.
It earns 2% domestically and 2.5% internationally, carries the lowest forex markup in the range at 1.49%, and gives unlimited lounge access.
Times Black ICICI Bank Credit Card Quick Overview
| **Card type** | Invite-only super-premium card |
|---|---|
| **Best for** | Very high spenders who travel internationally |
| **Joining / renewal fee** | ₹20,000 + GST, same on renewal — renewal waived at ₹25 lakh of annual spend |
| **Network** | Visa, Mastercard |
| **Base reward rate** | **2.0%** |
| **Top reward rate** | **2.5%** — International spends |
| **Reward currency** | ICICI Bank Reward Points, valued at ₹0.4 each |
| **Lounge access** | **Unlimited** complimentary domestic lounge access |
| **Forex markup** | 1.49% |
Reward Structure: How You Earn
This card's own page states the rate: 1 Reward Point = ₹0.40 against statement. That is the only rupee redemption rate ICICI publishes anywhere — every other card in this collection uses an unpublished third-party figure of ₹0.25.
ICICI also claims a point 'can be up to ₹1'. That is a ceiling with no named redemption channel behind it, and this review does not use it. If such a channel exists and can be identified, every percentage here would rise two and a half times.
2% in Reward Points on domestic spends. 2.5% on international.
From 15 January 2026 fuel and e-wallet loads earn nothing on ICICI cards, and new fees arrived the same day: 1% on wallet loads of ₹5,000 or more, 2% on skill-based gaming, 1% on transportation above ₹50,000, and ₹3,500 one-time for every new add-on card.
| Spend | Effective rate |
|---|---|
| International spends | **2.5%** |
| Everything else | 2.0% |
| Fuel, rent, wallet loads, government, gaming | **0%** |
The caps that actually bind
Headline rates mean little until you know where they stop. These are the limits on this card:
| Cap | Limit |
|---|---|
| Category | 5,000 points per calendar month |
ICICI states this card's rates as percentages, not as points per ₹100, which is unusual and means the underlying point count cannot be cross-checked against the ₹0.40 redemption rate.
Utility, insurance, education and government payments are capped at 5,000 Reward Points a statement cycle — ₹2,000 of value. This is a points cap, unlike the spend ceilings the rest of the range moved to in February 2026.
The BookMyShow buy-one-get-one is now spend-gated at ₹25,000 in the previous calendar quarter, where it used to be unconditional.
Category Restrictions: Where You Won't Earn
- Where you earn nothing: Earns nothing at all: fuel (MCC 1361, 3851, 5172, 5541, 5542, 5555, 5983, 9752 — the Parakram cards are exempt); e-wallet loads (MCC 6540 — the Amazon Pay card is exempt); cash advances; and, on the premium metal cards, government services, rent, tax payments and property management. Both fuel and wallet exclusions took effect on 15 January 2026.
- Point expiry: Reward Points are valid for 36 months from the date of accrual. Points LAPSE ENTIRELY on card cancellation, and a redemption handling fee of ₹99 plus GST applies to each redemption request.
- Redemption fee: ₹99 per redemption.
- Category cap: 5,000 Reward Points per statement cycle on utility payments, insurance premiums, education payments and government payments — ₹2,000 of value at the ₹0.40 rate. A POINTS cap, not the spend ceiling the rest of the ICICI range uses.
Fees and Charges
| Charge | Amount |
|---|---|
| Joining fee | ₹20,000 + GST |
| Renewal fee | ₹20,000 + GST |
| Finance charges | 3.75% per month (45% per annum) on extended credit and cash advances. |
| Interest-free period | Up to 48 days from the date of purchase, only when the previous balance is paid in full. |
| Minimum amount due | 5% of the total amount due, subject to a minimum of ₹100, plus any EMI, fees, charges and over-limit amount. |
| Cash advance fee | 2.5% of the amount withdrawn, subject to a minimum of ₹500. |
| Cash advance interest | 3.75% per month (45% per annum), charged from the date of withdrawal with no interest-free period. |
| Forex markup | 1.49% of the transaction amount — the lowest in the ICICI range. |
| Dynamic currency conversion | 1.49% of the transaction amount. |
| Late payment | Graduated by total amount due: nil up to ₹100; ₹100 for ₹101–₹500; ₹500 for ₹501–₹5,000; ₹750 for ₹5,001–₹10,000; ₹900 for ₹10,001–₹25,000; ₹1,000 for ₹25,001–₹50,000; ₹1,200 above ₹50,000. Revised 15 November 2024. |
| Overlimit | 2.5% of the over-limit amount, subject to a minimum of ₹500. |
| Payment return | 2% of the total amount due, minimum ₹500, for a returned cheque or a failed auto-debit. An additional ₹50 plus GST is debited. |
| Rent payment | 1% of the transaction amount on rent payments (MCC 6513), w.e.f. 15 November 2024. |
| Wallet load | 1% of the transaction amount on wallet loads of ₹5,000 or more (MCC 6540), w.e.f. 15 January 2026. |
| Utility payments | 1% of the transaction amount on utility payments exceeding ₹50,000 (MCC 4899, 4900, 4901, 4814, 4821), w.e.f. 15 November 2024. |
| Education payments | 1% of the transaction amount on education payments made through third-party apps, w.e.f. 15 November 2024. Paying an institution directly is exempt. |
| Fuel transactions | 1% of the transaction amount on fuel transactions exceeding ₹10,000, w.e.f. 15 November 2024. |
| Online skill-based gaming | 2% of the transaction amount on skill-based gaming transactions (MCC 5816), w.e.f. 15 January 2026. |
| Card replacement | ₹100 per replacement card. |
| Add-on card | ₹3,500 one-time for each new add-on card issued on or after 15 January 2026. Add-on cards issued before that date carry no fee. |
| Reward redemption | ₹99 plus GST per redemption request under the ICICI Bank Rewards scheme and for Mine Cash statement-credit redemptions; ₹25 for catalogue-based redemptions. |
| EMI processing | 2.99% of the transaction amount, capped at ₹299 plus 18% GST, on all Instant EMI transactions w.e.f. 1 September 2025. |
| GST | 18% on all fees, interest and charges. |
Is the Times Black ICICI Bank Credit Card Worth It?
The 1.49% forex markup is the lowest in the ICICI range — below even the Emeralde variants' 2% and well under the 3.5% standard. On ₹20 lakh of foreign spending it saves ₹40,000 against a 3.5% card, which is twice the fee.
2% on domestic spending is strong for a points card and would be stronger still if the ₹1 ceiling claim could be tied to a real channel.
The ₹25 lakh fee waiver is the highest in the range and excludes rent, government and education spends. Treat the ₹20,000 as a fixed cost.
Unlimited domestic and international lounge access completes it.
At ₹20,000 this needs roughly ₹10 lakh of annual spending to break even on points alone, before counting the forex saving and the lounges. Below that, the Emeralde at ₹12,000 covers most of the same ground.
Frequently Asked Questions (FAQs)
What is a Times Black Reward Point worth? ₹0.40 against statement — stated on the card's own page. It is the only published reward point value anywhere in ICICI's range. ICICI separately claims a point 'can be up to ₹1', but names no channel for that rate.
What is the earn rate? 2% in Reward Points on domestic spends and 2.5% on international. ICICI states these as percentages rather than as points per ₹100.
What is the forex markup? 1.49% — the lowest on any ICICI card, below the Emeralde variants' 2% and the 3.5% standard.
What is the fee and can it be waived? ₹20,000 plus GST, waived at ₹25 lakh of annual spend — excluding rent, government and education. That is the highest threshold in the ICICI range.
Which categories are capped? Utility payments, insurance premiums, education payments and government payments, at 5,000 Reward Points a statement cycle combined — about ₹2,000 of value.
How much lounge access? Unlimited complimentary domestic and international airport lounge access.
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