Credit card users are always looking for ways to maximize their rewards. Until now, HDFC Bank credit cardholders have been maximizing their benefits through the SmartBuy portal by earning accelerated rewards and redeeming them across multiple categories. However, with “iShop”, ICICI cardholders can now also maximize their savings by earning up to 12X rewards on hotel bookings and 6X rewards on flight bookings and shopping vouchers via iShop.
ICICI Bank’s iShop can compete with HDFC Bank’s SmartBuy portal by allowing the redemption of rewards against travel bookings at a 1:1 ratio. However, with a reward rate of up to 36% but lacking air miles conversion, can ICICI Bank’s iShop truly compete with HDFC Bank’s SmartBuy? Let’s find out.
What is iShop?
ICICI Bank’s iShop is a rewards-based shopping and travel portal that aims to compete directly with HDFC Bank’s SmartBuy. ICICI cardholders can now redeem their accumulated reward points for travel bookings through iShop at a 1:1 ratio. Additionally, ICICI cardholders can earn accelerated rewards on iShop spends, similar to the benefits that HDFC cardholders can avail through SmartBuy.
However, these benefits vary from card to card, with premium card users being able to maximize their rewards through this portal. For example, ICICI Emeralde Private Credit Cardholders can earn up to 18% rewards on flight bookings or shopping vouchers and 36% on hotel bookings through iShop. Similarly, ICICI Times Black cardholders can earn 12% rewards on flights/vouchers and 24% on hotel bookings.
Reward Benefits
Here is a list of popular ICICI Bank Credit Cards along with their reward rates across different categories on iShop:
| Credit Card | General Reward Rate | Reward Rate on Flights/ Vouchers (6X) | Reward Rate on Hotel Bookings (12X) |
| Emeralde Private Metal | 3% | 18% | 36% |
| Times Black | 2% | 12% | 24% |
| Diamant World | 0.75% | 4.5% | 9% |
| Emeralde | 1% | 6% | 12% |
| Other ICICI Credit Cards* | 0.75% | 3% | 6% |
| Co-branded Credit Cards** | – | 4% | 4% |
Capping on Reward Points
While ICICI cardholders can maximize their benefits through the iShop portal, there is a monthly capping on each card that you should keep in mind to make the most of these benefits:
| Credit Card | Maximum Capping Per Month |
| Emeralde Private Metal | 18,000 Points |
| Times Black | 15,000 Points |
| Diamant World | 12,000 Points |
| Emeralde | 12,000 Points |
| Other ICICI Credit Cards* | 9,000 Points |
| Co-branded Credit Cards** | Rs. 1,100 Cashback |
In addition to the above table, accelerated rewards on Flipkart and Amazon vouchers are capped at Rs. 12,000 per month.
As per the above table, Emeralde Private cardholders can maximize their benefits by spending Rs. 1 Lakh on flight bookings/vouchers or Rs. 50,000 on hotel bookings. Similarly, the table below shows the required spends for some of the popular ICICI credit cards to maximize reward points:
| Credit Card | Spends Required for Flights/ Vouchers | Spends Required for Hotel Bookings |
| Emeralde Private Metal | Rs. 1 Lakh | Rs. 50,000 |
| Times Black | Rs. 1.25 Lakh | Rs. 60,000 |
| Diamant World | Rs. 2.60 Lakh | Rs. 1.30 Lakh |
| Emeralde | Rs. 2 Lakh | Rs. 1 Lakh |
| Other ICICI Credit Cards* | Rs. 3 Lakh | Rs. 1.5 Lakh |
| Co-branded Credit Cards** | Rs. 27,500 | Rs. 27,500 |
Redemption Options
ICICI Credit Cardholders can redeem reward points against travel bookings, including flights, buses, hotels, and e-vouchers of top brands through the iShop portal. However, there is a maximum limit on redeeming rewards against each category, which is mentioned below:
- Flights: Up to 95% of points can be redeemed at a value of 1 Point = Rs. 1
- Hotels: Up to 90% of points can be redeemed at a value of 1 Point = Rs. 1
- eVouchers: Up to 50% of points can be redeemed at a value of 1 Point = Rs. 0.60
With the addition of iShop, ICICI cardholders can now redeem their reward points across two portals – iShop and the general rewards portal. However, a reward redemption fee of Rs. 99 will be applicable for all redemptions, except for ICICI Private Emeralde Metal and ICICI Times Black Credit Cardholders.
Where It Falls Short?
While iShop offers a straightforward 1:1 redemption ratio and accelerated rewards, the portal falls short as it does not allow the conversion of accumulated rewards into airmiles. Therefore, adding partner airlines or hotels can help ICICI cardholders maximize their benefits through this portal.
Additionally, while HDFC’s SmartBuy portal was designed to cater to all card users, ICICI’s iShop primarily benefits premium cardholders, such as Emeralde Private Metal or Times Black, making it less accessible for other cardholders to maximize the benefits.
ICICI Emeralde Private Vs. HDFC Infinia
Let’s compare two of the premium cards, ICICI Emeralde Private and HDFC Infinia, to see how much value back these cards offer on their respective rewards portals, iShop and SmartBuy:
| Credit Card | ICICI Emeralde | HDFC Infinia | |||
| Fee | Rs. 12,500 | Rs. 12,500 | |||
| Bonus Benefit | 12,500 bonus reward points | 12,500 bonus reward points | |||
| Category | Earning | Reward Rate | Earning | Reward Rate | |
| General spends | 6 reward points for every Rs. 200 | 3% | 5 reward points for every Rs. 150 | 3.33% | |
| iShop/SmartBuy | Shopping | 6X (36 points per Rs. 200) | 18% | 10X (50 points per Rs. 150) | 33.3% |
| Flights | 6X (36 points per Rs. 200) | 18% | 10X (50 points per Rs. 150) | 33.3% | |
| Hotels | 12X (72 points per Rs. 200) | 36% | 10X (50 points per Rs. 150) | 33.3% | |
| Redemption value | 1:1 for purchase of travel and other vouchers on iShop | – 1:1 for Flight and Hotel Bookings, Apple products and Tanishq vouchers
– Up to Rs. 0.50 per reward for purchase of other vouchers |
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| Valueback per Rs. 1 Lakh spent | – Rs. 18,000 on shopping
– Rs. 18,000 on flight bookings – Rs. 36,000 for hotel bookings |
– Rs. 33,333 on shopping at Apple and Tanishq
– Rs. 16,666 for shopping on other categories – Rs. 33,333 on flight and hotel bookings |
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ICICI Bank was left behind in the race for best rewards credit cards due to the average reward rate, except for premium cards. However, with the addition of iShop, ICICI credit cardholders can maximize their rewards with strategic planning—especially premium cardholders like ICICI Emeralde Private or ICICI Times Black—by making the most of the rewards program.
While more additions can be expected, ICICI Bank’s iShop emerges as a strong competitor to HDFC Bank’s SmartBuy, particularly for ICICI credit cardholders looking to maximize their savings. However, without airmiles conversion, it may not entirely replace the comprehensive benefits offered by SmartBuy.
Lastly, the choice between the two portals depends on the cardholder’s spending and redemption preferences.
*Include cards, such as Sapphiro, Coral, HPCL Super Saver, Rubyx, Parakram, Manchester United and more.
**Include cards, such as Amazon ICICI, Adani, Emirates, MakeMyTrip, etc.
