I used ICICI Credit Card for almost 5 years and their reward points are totally useless. I find that they use "Reward Points" just as a marketing tool to catch new customers who are not aware of their Reward Point system.

21/10/2012 - INTEREST CHARGES - Rs. 176.81(DR)
I have now moved over to SBI Credit Cards who charge variable interest charges on account of incomplete payments. They also have Cash Back offer on reward points which you can use as Credit Card payments which is cool. The cash back works out to be 0.25% of what you swipe. That's like 500 Rupees cash back for every 2 Lakh that you spend.

SBI Credit Card Customer service is also good and been a lot better for me than ICICI.