In-depth review
ICICI Bank Emeralde Credit Card (Metal)
ICICI's 'almost-flagship' metal card — 4 reward points per ₹100, unlimited domestic lounges and a 2% forex markup, for a ₹12,000 fee waived at ₹10 lakh. It sits one rung below the invite-only Emeralde Private Metal, and ICICI's trimming reached it too: per-cycle spend caps on utility, insurance and grocery, and a spend-gated BookMyShow benefit. Solid for the ICICI customer who'll clear the waiver, though the return is a flat ~1.6% however you redeem — ICICI's 'up to ₹1 a point' is a ceiling it publishes no way to reach on this card. The Private Metal is the better card if you can get invited.
Read the full review →Key features
What this card is built to do — the highlights that actually matter.
6 points/₹100 on Travel (~2.4% value)
6X on flights, up to 12X on hotels, via the ICICI iShop portal; capped 15,000 pts/month. Valued at ₹0.40/point like every other row on this card — ICICI publishes "up to ₹1" as a CEILING and its iShop FAQ refuses a fixed rate.
1.6% on Other
4 reward points per ₹100 on retail spend — ~1.6% at the ₹0.40/point ICICI publishes for statement, vouchers and iShop alike ("up to ₹1" is a ceiling, not a rate); fuel, rent, cash and wallet loads earn nothing, while utility, insurance and government earn 1 pt/₹100 under per-cycle caps
Airport Lounge Access
Unlimited domestic and international lounge access for the primary cardholder, exempt from ICICI's ₹75,000-a-quarter lounge spend gate
Annual Fee Waiver
Fee of ₹12,000 + 18% GST (₹14,160 all-in)/yr fully waived when you spend ₹10,00,000/year
Golf Privileges
One complimentary golf round or lesson per ₹50,000 of retail spend in the previous calendar month, up to 4 rounds a month
24x7 Concierge
24x7 concierge and lifestyle management
👑 PREMIUM LIFESTYLE BENEFITS
Concierge, golf, hotel membership and high-value perks for premium cardholders.
₹6,000
Golf perk value
- 24x7 lifestyle and travel concierge
- Complimentary golf access at premium courses
✈️ TRAVEL BENEFITS
Lounge access, miles, forex rates and travel perks at a glance.
AIRPORT LOUNGE ACCESS
Unlimited visits
Domestic lounges
✓
International lounges
₹24,000
Estimated annual value
2%
Forex markup
2.4%
Travel reward rate
AIRLINE / TRAVEL PARTNERS
- Domestic + international airport lounge access (worth ~₹24,000/yr)
- Miles on: ICICI iShop
- 2.4% effective return on travel bookings
- Low forex markup: 2.0%
For ICICI customers who will clear the ₹10 lakh waiver and want the lounges, golf and 2% forex more than the earn rate — the reward return is a flat ~1.6%. If you can secure an invite, the Emeralde Private Metal is the stronger card.
Full reward structure
What you earn on every rupee, per spend category — as of 11 Oct 2026. Rates assume 1 pt = ₹0.40. How we value points →
| Category | Type | Rate | Monthly cap |
|---|---|---|---|
| Travelonly at ICICI iShop | reward points | 2.4%6 pts/₹100 × ₹0.40 | ₹6,000 |
| Other | reward points | 1.6%4 pts/₹100 × ₹0.40 | — |
| Groceries | reward points | 1.6%4 pts/₹100 × ₹0.40 | ₹640 |
| Utility Bills | reward points | 0.4%1 pts/₹100 × ₹0.40 | ₹320 |
| Insurance | reward points | 0.4%1 pts/₹100 × ₹0.40 | ₹320 |
| Government & Tax | reward points | 0.4%1 pts/₹100 × ₹0.40 | ₹320 |
Travel: 6X on flights, up to 12X on hotels, via the ICICI iShop portal; capped 15,000 pts/month. Valued at ₹0.40/point like every other row on this card — ICICI publishes "up to ₹1" as a CEILING and its iShop FAQ refuses a fixed rate. · ICICI iShop
Other: 4 reward points per ₹100 on retail spend — ~1.6% at the ₹0.40/point ICICI publishes for statement, vouchers and iShop alike ("up to ₹1" is a ceiling, not a rate); fuel, rent, cash and wallet loads earn nothing, while utility, insurance and government earn 1 pt/₹100 under per-cycle caps
Groceries: Grocery and departmental store spend earns the full 4 points per ₹100 but is capped at ₹40,000 of spend per statement cycle (1,600 points) since Nov 15, 2024
Utility Bills: 1 reward point per ₹100 on utility bills, capped at ₹80,000 of utility spend per statement cycle (800 points) since Nov 15, 2024. ICICI bills government payments as utility, so they share this rate
Insurance: 1 reward point per ₹100 on insurance premiums, capped at ₹80,000 of premium per statement cycle (800 points) since Nov 15, 2024
Government & Tax: ICICI bills government and tax payments as utility payments, so they earn the reduced 1 point per ₹100 rather than nothing — capped at ₹80,000 of spend per statement cycle (800 points)
Earns nothing on: Fuel · Rent · Cash Advances · Wallet Loads
These spends earn no rewards at all — not a reduced rate, and not the base rate. They are also normally left out of any milestone or fee-waiver calculation.
Fees & charges
The numbers that matter beyond rewards — verify on the issuer site before applying. Fees below are shown inclusive of 18% GST, as of 11 Oct 2026.
| Charge | Amount |
|---|---|
| Annual fee (incl. 18% GST) | ₹14,160 |
| Joining fee (incl. 18% GST) | ₹14,160 |
| Finance charge (APR) | 3.75% p.m. |
| Forex markup | 2% |
Perks & benefits
Estimated annual value beyond rewards — ~₹36,500/yr in total.
24x7 concierge and lifestyle management
One complimentary golf round or lesson per ₹50,000 of retail spend in the previous calendar month, up to 4 rounds a month
1% fuel surcharge waiver at every petrol pump on transactions up to ₹4,000, applied to fuel spend of up to ₹50,000 a statement cycle
Unlimited domestic and international lounge access for the primary cardholder, exempt from ICICI's ₹75,000-a-quarter lounge spend gate
Should you get it?
- Best for: ICICI customer who will clear the ₹10 lakh fee waiver, Traveller who books through iShop, the one route that lifts the rate (6X flights, ~2.4%), International traveller wanting a 2% forex super-premium card, Spends ₹10L+/year wanting a single super-premium card
- Super Premium tier — built for high spenders who want top-end perks.
- Strongest value if you spend heavily on everyday spends (1.6% back; 2.4% only at ICICI iShop).
- Frequent travellers benefit from the included airport lounge access.
Pros & cons
✓ Pros
- Unlimited domestic + international Priority Pass lounge access
- 4 reward points per ₹100 on all spends (~1.6%); 6X flights and up to 12X hotels on iShop travel (~2.4%, capped 15,000 pts/month)
- ₹12,000 annual fee waived at ₹10 lakh annual spend
- 2% forex markup — a strong international card for ICICI HNW customers
✕ Cons
- Every published redemption route pays ₹0.40 a point, so the return is ~1.6% and no redemption strategy improves it; ICICI advertises "up to ₹1" without publishing a way to reach it
- Utility, insurance and government payments drop to 1 RP/₹100, and utility, insurance and grocery each carry a per-statement-cycle spend cap (₹80,000 / ₹80,000 / ₹40,000)
- The BookMyShow benefit now needs ₹25,000 of spend in the preceding quarter
- No hotel-loyalty membership — the invite-only Emeralde Private Metal (Taj Epicure, 2% forex) is the stronger card if you can get it
Eligibility & documents
This is the figure for salaried applicants. Where ICICI Bank sets a separate one for the self-employed, its own eligibility page gives it.
Documents required
- 📄PAN card
- 📄Aadhaar / valid address proof
- 📄Latest 3 months bank statement
- 📄Income proof — salary slips (salaried) or ITR (self-employed)
- 📄Recent passport-size photograph
How to redeem rewards
Ways to convert what you earn into real value.
- 🎁Statement credit / cashback adjustment
- 🎁Online rewards catalogue (vouchers, merchandise)
- 🎁Flight & hotel bookings via the issuer rewards portal
- 🎁Airline / hotel partner point transfers (on eligible cards)
What your ICICI Reward Points are worth
Realistic value per point by redemption route — the difference is what most people leave on the table.
1 RP = ₹0.40 against the statement — ICICI's only published rate
Voucher store; ICICI publishes only an 'up to ₹1' ceiling, never a realised rate
iShop travel; rate is set per card at checkout, so the ₹1 ceiling is not a value
Air India is ICICI's only transfer partner, and the ratio splits 6x by card: Emeralde Private Metal and Times Black convert 1:1 (⇒ ₹1/pt), every other eligible card 6:1 (⇒ ₹0.17/pt — worse than the ₹0.40 voucher route, so on those cards transferring destroys value). Min 2,000 points; credited in up to 5 working days.
✈ Transfer partners
Direct transfers from this card only, ranked by what a point is worth in the destination programme. Full calculator, every currency →
At ₹0.40 a point on every published route the return is ~1.6%, thin against a ₹12,000 fee, and the per-cycle caps on utility, insurance and grocery narrow it further versus the Private Metal.
Frequently asked questions
How do I qualify for the ICICI Emeralde Credit Card?
Is the annual fee waived on spends?
Is Priority Pass unlimited?
What is the ICICI reward point value?
Are there caps on utility, insurance or grocery spend?
What is the forex markup?
How has the ICICI Bank Emeralde Credit Card (Metal) changed over time?
Has the ICICI Bank Emeralde Credit Card (Metal) been devalued recently?
When did the ICICI Bank Emeralde Credit Card (Metal)'s fees last change?
How did the ICICI Bank Emeralde Credit Card (Metal) change in 2026?
The bottom line
A genuinely premium ICICI card for someone who will hit the ₹10 lakh waiver and buy it for the access rather than the earn — 4 RP/₹100 at ₹0.40 a point is ~1.6%, and no ICICI route improves on that. The unlimited domestic lounges and Priority Pass are real — and, unusually, ICICI exempts this card from the ₹75,000-a-quarter lounge gate that now applies across most of its range. The per-cycle caps on utility, insurance and grocery and the BookMyShow spend gate trimmed it, and the invite-only Private Metal (flat ~3%, 2% forex, Taj Epicure) is the better card if you can get it.
How this page was built
Counted from this card’s own record: 6 earn rules, 5 of them capped, 1 paid only at named merchants, the spends listed as earning nothing and 4 recorded perks. The renewal fee is conditional — it is waived on a published spend target, so the fee you pay depends on what you spend.
Last updated 11 Oct 2026.
Sources & verification
Fees, reward rates, and benefits for the ICICI Bank Emeralde Credit Card (Metal) are taken from ICICI Bank's official Most Important Terms & Conditions (MITC) and fee schedule — see the card's official page. Last updated 11 Oct 2026. Reviewed by Devchandra Sah. Always confirm current details on the issuer's site before applying. How we research →
Independence. CardAdvisor is an independent editorial publication. We are not affiliated with, endorsed by, sponsored by, or authorised to act for ICICI Bank. All issuer names, product names, and payment-network marks are the property of their respective owners and appear here for identification and comparison only. Card faces shown on this site are our own original illustrations — we do not display or host issuer card artwork or logos.
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Guides and reviews related to this card.
ICICI Bank Emeralde Credit Card (Metal)
ICICI's 'almost-flagship' metal card — 4 reward points per ₹100, unlimited domestic lounges and a 2% forex markup, for a ₹12,000 fee waived at ₹10 lakh. It sits one rung below the invite-only Emeralde Private Metal, and ICICI's trimming reached it too: per-cycle spend caps on utility, insurance and grocery, and a spend-gated BookMyShow benefit. Solid for the ICICI customer who'll clear the waiver, though the return is a flat ~1.6% however you redeem — ICICI's 'up to ₹1 a point' is a ceiling it publishes no way to reach on this card. The Private Metal is the better card if you can get invited.
ICICI Bank Credit Card Ladder 2026: Platinum → Coral → Sapphiro → Emeralde
ICICI Bank's card ladder runs from the entry Platinum through Coral and Sapphiro up to the Emeralde and invite-only Emeralde Private. This guide maps the reward programme at each tier, explains the common reward point pitfalls, and tells you where the ICICI ecosystem delivers genuine value.
ICICI Bank Emeralde Private Metal Credit Card
A flat ~3% earner with Taj Epicure membership, unlimited lounges and a competitive 2% forex markup — genuinely premium for the ICICI wealth customer. The asterisk is the trajectory: two devaluations in 15 months stripped out rent, fuel, tax and government earning and squeezed utilities, grocery and education to about ₹33,000 of spend a cycle each, and the trimming may not be over. Buy the 2026 version, not the 2023 legend.
Dreamfolks vs Priority Pass in India (2026): What Actually Powers Your Lounge Access Now
The Indian lounge-access map was redrawn in 2025: Dreamfolks exited domestic airport-lounge aggregation on 16 September 2025 after ICICI, Axis and IDFC dropped it and operators like Adani, Encalm and TFS terminated their contracts. Domestic access now runs through airport-operator apps (Adani One, Encalm's HOI) and new aggregators; Priority Pass remains the international standard. This guide explains who replaced Dreamfolks, how you actually get into a lounge today, and which cards still cover you.
Emirates Skywards ICICI Bank Emeralde Credit Card
ICICI's super-premium Emirates co-brand earns Emirates Skywards Miles straight into your Emirates account — a flat 2 miles per ₹100 (roughly 2% at the ₹1/mile airline baseline). It welcomes you with 10,000 miles and Skywards Silver status, adds unlimited domestic and international lounges and up to 10% off Emirates fares, and repeats the 10,000 miles on each renewal. There is no fee waiver on the ₹10,000 fee. The maths works only if you actually fly Emirates and redeem in premium cabins.
Airport Lounge Access Guide 2026: Priority Pass, Airport Apps and Bank-Direct Explained
Indian credit cards offer lounge access through several routes — Priority Pass (international), domestic airport lounges, bank-direct tie-ups, and RuPay Lounge. The big 2025 change: Dreamfolks, long the domestic aggregator, exited domestic lounge access on 16 September 2025, and that layer is now served by airport-operator apps (Adani One, Encalm's HOI), EliteAssist and direct bank deals. This guide maps 25+ cards to their programmes, explains the boarding-pass requirement and the cost-per-visit math, and tells you exactly which card to carry at which airport.
Value timeline
Every real-world change to this card's rewards, fees and benefits we've tracked — newest first, each linked to its source.
Tracking since 2019 · last change Mar 2026
2026
- ▼ FeeObserved 19 Feb 2026 · Effective 1 Mar 2026
Minimum Amount Due rebuilt as a two-branch formula
5% of the outstanding amount, plus instalments, the over-limit amount, fee GST and any unpaid previous MAD→100% of GST, EMI principal and interest, fees, the over-limit amount and unpaid MAD, plus 5% of retail spends, cash advances and the finance charge — the finance charge taken in full whenever that 5% falls short of it
From the 1 March 2026 statement onwards ICICI stopped deriving the Minimum Amount Due from a single 5%-of-outstanding line and began building it component by component: GST, EMI principal and interest, fees and charges, the over-limit amount and any unpaid previous MAD are all taken at 100%, and 5% is applied to retail spends, cash advances and the finance charge. Where 5% of those three comes to less than the finance charge alone, the whole finance charge is added instead and only retail and cash are taken at 5%. ICICI illustrates both branches itself — a minimum of ₹11,210 on a ₹37,830 total due, and ₹21,620 on a ₹1,15,810 total due where finance charges dominate. Paying the statement in full is unaffected; the minimum rises only for people carrying a balance or taking cash.
Verification: ICICI Bank ↗ · Confidence: High
- ▼ RewardObserved 17 Dec 2025 · Effective 1 Feb 2026
Transport-category earning capped
Transport spends earned uncapped→Transport rewards capped at ₹20,000 per statement cycle
From 1 February 2026 ICICI capped the reward points earned on transport-category spends — rail, bus, taxi, tolls and similar — at ₹20,000 of spend per statement cycle on its Gemstone-tier cards. Spend above the cap still posts to the card, it simply stops earning. The cap is per statement cycle, not per month, so a long cycle does not buy extra headroom.
Verification: ICICI Bank ↗ · Confidence: High
- ▼ BenefitObserved 17 Dec 2025 · Effective 15 Jan 2026
BookMyShow movie benefit becomes spend-gated
Complimentary→Requires ₹25,000 spend in previous quarter
With effect from 15 Jan 2026 the BookMyShow movie-ticket benefit is unlocked only if the cardholder spent at least ₹25,000 in the preceding quarter — a shift from an unconditional perk to a spend-gated one. ICICI's MITC illustrates the mechanic with the Apr–Jun 2026 quarter, which is why the change is often quoted as starting 1 Apr; the revision itself is dated 15 Jan 2026.
Verification: ICICI Bank ↗ · Confidence: High
- ▼ RewardObserved 17 Dec 2025 · Effective 15 Jan 2026
Fuel, rent and wallet loads stripped of rewards
Fuel still earned reward points→Fuel, rent, cash and third-party wallet loads earn nothing
ICICI's January 2026 round confirmed that fuel, rent, cash and third-party wallet-load transactions earn no reward points on the Emeralde. Government and tax payments were NOT stripped on this card: ICICI's MITC bills government transactions as utility payments (a Feb 2024 change), so they continue to earn the reduced 1 reward point per ₹100 inside the utility cap. The outright government/tax exclusion applies to the Emeralde Private Metal, a separate product. Everyday retail continued to earn 4 RP per ₹100.
Verification: ICICI Bank ↗ · Confidence: High
2024
- ▼ BenefitObserved 11 Oct 2024 · Effective 15 Nov 2024
Complimentary airport spa access withdrawn
Unlimited domestic airport spa access→Discontinued
The DreamFolks-powered complimentary airport spa benefit — a launch feature of the Emeralde — was discontinued from 15 Nov 2024. Unlimited domestic and international (Priority Pass) lounge access was retained; the Emeralde is exempt from the ₹75,000/quarter lounge-spend gate applied to most other ICICI cards.
Verification: CardAdvisor Research · Confidence: High
Each change links to the issuer's own document — bank T&C, MITC, notice, press release or product page — where one is public. Where the bank published nothing, it's marked CardAdvisor Research and verified against the card's current terms. Independent of the live terms shown above. This timeline is one card's slice of our market-wide change record across every tracked card.
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Source: <a href="https://cardadvisor.in/cards/icici-emeralde#value-timeline">ICICI Bank Emeralde Credit Card value timeline</a>, CardAdvisor (CC BY 4.0).
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