Quick Verdict

  • The ICICI Bank HPCL Coral Credit Cardⓘ wins for fuel spenders with a superior 5% reward rate on fuel.
  • For everyday and grocery or utility spends, the ICICI Bank Coral Credit Cardⓘ offers a good 1% reward rate, slightly better for these categories.
  • The HPCL Coral is cheaper to hold with a joining and annual fee of Rs 199 each, compared to Rs 500 for the Coral card.
  • Choose the ICICI Coralⓘ if you want a balanced card with lounge access and decent rewards on groceries and utilities; pick the HPCL Coralⓘ if you want a budget-friendly fuel card with lounge access.

Side by Side

DetailICICI Bank Coral Credit CardⓘICICI Bank HPCL Coral Credit Cardⓘ
Annual feeRs 500Rs 199
Joining feeRs 500Rs 199
Fee waiver on spendRs 1.50 lakhRs 1.50 lakh
Reward rate0.5% base, 1% on grocery, utilities0.5% base, 5% on fuel
Reward typePointsPoints
Domestic lounge4 per year4 per year
International loungeNoneNone
Forex markup3.5%3.5%
Best suited forFirst card, rewards, dining, loungeFuel, first card, shopping

Rewards Compared

Spending Rs 10,000 on the ICICI Bank Coral Credit Cardⓘ yields Rs 50 back at the base rate of 0.5%. However, if the spend is in grocery or utilities categories, the reward rate doubles to 1%, resulting in Rs 100 back on Rs 10,000 spent. This makes it an attractive option for those whose spending is concentrated in these everyday categories.

In contrast, the ICICI Bank HPCL Coral Credit Cardⓘ delivers Rs 50 back on general spend at the base rate of 0.5%, the same as the Coral card. Its standout feature is the 5% reward rate on fuel spend, which translates to Rs 500 on Rs 10,000 spent on fuel. This makes it particularly valuable for users who spend heavily on fuel, offering a significantly higher return in that category compared to the Coral card.

Fees Compared

The ICICI Bank Coral Credit Cardⓘ charges Rs 500 as both joining and annual fees. These fees are waived if the cardholder spends Rs 1.50 lakh annually, which breaks down to approximately Rs 12,500 per month. To cover the annual fee through base rewards alone, one would need to spend about Rs 1,00,000 per year at the base rate of 0.5%.

Meanwhile, the ICICI Bank HPCL Coral Credit Cardⓘ is more affordable with Rs 199 as joining and annual fees. The fee waiver threshold is the same Rs 1.50 lakh annually, or Rs 12,500 monthly. Because of its higher rewards on fuel, the break-even spend to cover fees at the base rate is lower at Rs 39,800 per year, making it easier to justify the fees with the right spending pattern.

Which One Should You Pick

Choose the ICICI Bank Coral Credit Cardⓘ if you are looking for a well-rounded first credit card with rewards that benefit grocery and utility spends. Its access to four domestic airport lounges per year (subject to quarterly Rs 75,000 spend) adds value for frequent flyers who want occasional lounge comfort. It is suitable for those who want a rewards and dining-focused card with moderate fees.

Opt for the ICICI Bank HPCL Coral Credit Cardⓘ if your primary spend is on fuel or you want a budget-friendly card with lower fees. The 5% fuel rewards are a big draw for regular drivers, and the same domestic lounge access as the Coral card makes it a strong option for fuel spenders who also travel. The lower fees make it better for those wary of high annual costs.

In summary, skip the Coral card if you do not spend much on groceries or utilities and want a cheaper option. Avoid the HPCL Coral card if you do not spend on fuel or want better rewards diversity. The decisive call: pick the HPCL Coralⓘ for fuel savings and lower fees, the Coralⓘ for broader rewards and dining benefits.

What to Check Before You Apply

  • Check the quarterly Rs 75,000 spend requirement to unlock domestic lounge access on both cards.
  • Confirm if there are caps on category rewards that might limit your earnings.
  • Understand the redemption process and value of points to avoid surprises.
  • Be aware of the 3.5% forex markup when using the cards abroad.
  • Verify which airports the domestic lounges are available at, as availability may vary.

FAQ

How do the reward rates differ between the two cards?+
The ICICI Coral card offers 1% rewards on groceries and utilities, while the HPCL Coral card gives 5% rewards on fuel. Both provide 0.5% on other spends.
Can the joining and annual fees be waived?+
Yes, for both cards, the joining and annual fees of Rs 500 (Coral) and Rs 199 (HPCL Coral) are waived if you spend Rs 1.50 lakh annually, which is about Rs 12,500 monthly.
Are there any lounge access benefits with these cards?+
Both cards provide four domestic airport lounge visits per year, but only if you spend Rs 75,000 quarterly on the card. Neither card offers international lounge access.
What is the forex markup charge on international transactions?+
Both cards charge a 3.5% forex markup on foreign currency spends, which can add a significant cost when used abroad.
Is the ICICI HPCL Coral credit card suitable for non-fuel spenders?+
No, the HPCL Coral card is primarily designed for fuel spenders who want higher rewards in that category. Non-fuel spenders may get better value from the ICICI Coral card.