The ICICI Emeralde Private Metal is invite-only and cannot be applied for online or at a branch. ICICI extends it to its wealth and private-banking clients and to very high-income salaried customers.
How to get an invitation
- Bank with ICICI Wealth, Wealth Select or Private Banking. Holding one of these relationship tiers is the cleanest qualification — speak to your wealth RM about an Emeralde Private invitation.
- Ask through your branch or relationship manager. ICICI publishes no income criterion for this card; a high income and an established ICICI relationship are what an invitation follows.
- Route your salary to ICICI. A large salary credit into an ICICI account is a recognised pathway — ask your RM once it is established.
- Show high-value holdings. A savings balance of ₹10 lakh+, large fixed deposits, or a demat with ₹1 crore+ in funds signals the profile ICICI invites.
What issuers look for
- High income (ICICI publishes no income figure for this card)
- ICICI Wealth / Wealth Select / Private Banking relationship
- Age 21–65 (ICICI’s own FAQ); strong credit record
The age band is the bank’s own, from its own FAQ for the card; the other points are observed patterns, and any income or score level here is indicative.
In-depth review
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.
Read the full review →Key features
What this card is built to do — the highlights that actually matter.
Welcome Benefit
~₹5,000 in vouchers, points or cashback in year one — usually conditional on a first spend within 30–90 days
18 points/₹100 on Travel (~18% value)
18X on flights, up to 36X on hotels, via the ICICI iShop portal (points ≈ ₹1); capped 18,000 pts/month
1.2% on Other
6 reward points per ₹200 (3 per ₹100) — up to ~3% via travel/voucher redemption (~₹1/point) and ~1.2% to statement (₹0.40/point); rent, fuel, tax, government, property management & wallet loads earn nothing
Airport Lounge Access
Unlimited Priority Pass for the primary and Plus cardholder — domestic + international lounge access, exempt from ICICI's ₹75,000-a-quarter lounge spend gate
Annual Fee Waiver
Fee of ₹12,499 + 18% GST (₹14,749 all-in)/yr fully waived when you spend ₹10,00,000/year
Golf Privileges
Unlimited complimentary golf rounds every month at select courses across India
24x7 Concierge
24/7 Emeralde concierge for travel, dining, event access
Insurance Cover
Comprehensive travel insurance and purchase protection
👑 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 insurance and accident cover
✈️ TRAVEL BENEFITS
Lounge access, miles, forex rates and travel perks at a glance.
AIRPORT LOUNGE ACCESS
Unlimited visits
Domestic lounges
Priority Pass
International lounges
₹24,000
Estimated annual value
2%
Forex markup
18.0%
Travel reward rate
AIRLINE / TRAVEL PARTNERS
- Domestic + international airport lounge access (worth ~₹24,000/yr)
- Miles on: ICICI iShop
- 18.0% effective return on travel bookings
- Low forex markup: 2.0%
- Travel insurance cover included
For ICICI wealth customers who can secure an invite, will redeem via travel/vouchers for the full ~3%, and value Taj Epicure and a 2% forex markup. Not for those who want straightforward cashback.
Full reward structure
What you earn on every rupee, per spend category — as of 24 Oct 2026. Each rate is converted at that row’s own point value. How we value points →
| Category | Type | Rate | Monthly cap |
|---|---|---|---|
| Travelonly at ICICI iShop | reward points | 18%18 pts/₹100 × ₹1.00 | ₹18,000 |
| Other | reward points | 1.2%3 pts/₹100 × ₹0.40 | — |
| Education | reward points | 1.2%3 pts/₹100 × ₹0.40 | ₹400 |
| Groceries | reward points | 1.2%3 pts/₹100 × ₹0.40 | ₹400 |
| Insurance | reward points | 1.2%3 pts/₹100 × ₹0.40 | ₹2,000 |
| Utility Bills | reward points | 1.2%3 pts/₹100 × ₹0.40 | ₹400 |
Travel: 18X on flights, up to 36X on hotels, via the ICICI iShop portal (points ≈ ₹1); capped 18,000 pts/month · ICICI iShop
Other: 6 reward points per ₹200 (3 per ₹100) — up to ~3% via travel/voucher redemption (~₹1/point) and ~1.2% to statement (₹0.40/point); rent, fuel, tax, government, property management & wallet loads earn nothing
Education: Earns the base 3 RP per ₹100 but capped at 1,000 points per statement cycle — about ₹33,000 of education spend a cycle
Groceries: Earns the base 3 RP per ₹100 but capped at 1,000 points per statement cycle — about ₹33,000 of grocery spend a cycle
Insurance: Earns the base 3 RP per ₹100 but capped at 5,000 points per statement cycle — about ₹1.67 lakh of premium a cycle
Utility Bills: Earns the base 3 RP per ₹100 but capped at 1,000 points per statement cycle — about ₹33,000 of utility spend a cycle, after which utilities earn nothing
Earns nothing on: Fuel · Rent · Cash Advances · Wallet Loads · Government & Tax
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 24 Oct 2026.
| Charge | Amount |
|---|---|
| Annual fee (incl. 18% GST) | ₹14,749 |
| Joining fee (incl. 18% GST) | ₹14,749 |
| Forex markup | 2% |
| Add-on card fee | ₹3,500 |
Perks & benefits
Estimated annual value beyond rewards — ~₹37,000/yr in total.
24/7 Emeralde concierge for travel, dining, event access
Unlimited complimentary golf rounds every month at select courses across India
Comprehensive travel insurance and purchase protection
1% fuel surcharge waiver at every petrol pump on transactions up to ₹4,000, applied to fuel spend of up to ₹1,00,000 a statement cycle — double the ₹50,000 most ICICI cards get
Unlimited Priority Pass for the primary and Plus cardholder — domestic + international lounge access, exempt from ICICI's ₹75,000-a-quarter lounge spend gate
Should you get it?
- Best for: ICICI banking customers wanting HDFC Infinia Metal equivalent on the ICICI side, Miles collectors targeting Air India Maharaja Points — ICICI's only transfer partner, and 1:1 from this card, High-net-worth users who travel internationally and want low forex markup
- Super Premium tier — built for high spenders who want top-end perks.
- Strongest value if you spend heavily on everyday spends (1.2% back; 18% only at ICICI iShop).
- Frequent travellers benefit from the included airport lounge access.
Pros & cons
✓ Pros
- 6 ICICI reward points per ₹200 (3 per ₹100) on all eligible spends — up to ~3% via travel/voucher; plus 18X flights / up to 36X hotels on the iShop travel portal
- Transfers 1:1 to Air India Maharaja Points — ICICI's only airline partner, and the best ratio any ICICI card gets
- Unlimited Priority Pass — no visit cap on international lounge access
- Reduced 2% forex markup — lower than standard ICICI 3.5%
- Metal card with strong brand presence at airports and premium venues
✕ Cons
- Statement redemption (₹0.40/point) gives ~1.2% — the full ~3% needs travel/voucher redemption
- ₹12,499 annual fee with ₹10L spend waiver requirement
- Requires high credit and income profile — not easily accessible
Eligibility
ICICI Bank publishes one eligibility criterion for this card: an age band of 21–65, set out in its own FAQ for the card. It publishes no minimum income, no credit-score floor and no document checklist, and the card is issued strictly by invitation, with no public application form, so beyond the age there is nothing to qualify for in the usual sense. Any income or score level in the panel above is indicative of the profile the bank extends the card to, not a threshold it states.
What actually decides an invitation is the relationship behind it — balances held with the bank, spend on an existing card, and the banking segment you sit in. We set those signals out in how to get an invitation above, labelled for what they are: the one published figure, and observed patterns for the rest.
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 →
Two devaluations in 15 months (rent, fuel, tax and government earning removed; utilities, grocery and education capped at 1,000 points a cycle, insurance at 5,000) signal an eroding trajectory, and full value needs travel/voucher redemption — statement value is ~1.2%.
Frequently asked questions
What is the reward rate on the ICICI Emeralde Private Metal?
What is the Emeralde Private Metal annual fee?
Is the ICICI Emeralde Private Metal invite-only?
What is the forex markup on the Emeralde Private?
What lifestyle benefits does it include?
Has the Emeralde Private been devalued?
How has the ICICI Bank Emeralde Private Metal Credit Card changed over time?
Has the ICICI Bank Emeralde Private Metal Credit Card been devalued recently?
When did the ICICI Bank Emeralde Private Metal Credit Card's fees last change?
How did the ICICI Bank Emeralde Private Metal Credit Card change in 2026?
The bottom line
Still ICICI's best card and a genuine super-premium proposition — flat ~3% on good redemptions, a competitive 2% forex, Taj Epicure and unlimited lounges, with a 12,500-point joining benefit that covers a good part of the fee. The caveat is the trajectory: two devaluations in 15 months removed rent, fuel, tax and government earning and capped utilities, grocery and education, so judge it on the 2026 version, not the 2023 legend.
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 5 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 24 Oct 2026.
Sources & verification
Fees, reward rates, and benefits for the ICICI Bank Emeralde Private Metal Credit Card are taken from ICICI Bank's official Most Important Terms & Conditions (MITC) and fee schedule — see the card's official page. Last updated 24 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 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.
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.
Times Black ICICI Bank Credit Card
A super-premium metal card built around entertainment access — movies, concerts, events without the ticket counter — wrapped in unlimited lounges and concierge. It is issued to ICICI's HNW relationship customers rather than on the open market. Genuinely brilliant for the person attending ticketed events most weeks; a ₹20,000 indulgence for everyone else. The ₹25 lakh fee waiver and modest rewards mean you should hold it for the access, at volume.
YES Bank Marquee Credit Card
YES Bank's most interesting card — a genuine ~4.5% online earn rate (36 points per ₹200, redeemed for travel at ₹0.25) and a low 1% forex markup in a polished super-premium package, with a rich welcome bonus, 36 movie tickets and golf. The catches define it: voucher redemption was devalued to ₹0.15 (so redeem for flights/hotels, not vouchers), domestic lounge access is spend-gated, the transfer partners are thin, and YES Bank keeps revisiting its premium terms. Worth a slot for the online-focused traveller who redeems deliberately; not a card to build a wallet around.
SBI Card AURUM
SBI's super-premium metal flagship delivers a genuinely premium bundle — a Club Marriott membership, unlimited international lounges, 16 domestic lounge visits and an unusually generous direct free-movie benefit — wrapped around a base reward rate of about 1%. A milestone voucher ladder can lift a high-spender's effective return toward ~3.7%, but you buy this card for its specific perks, not its everyday earning, which loses cleanly to the Infinia and Magnus it's priced against.
Air India Maharaja Club 2026: The Big Revaluation, the Vistara Merger, and What It Means for Your Points
Air India's loyalty programme has changed more in two years than in the previous twenty: Flying Returns rebuilt around spend-based earning, Club Vistara folded in after the 2024 merger, then a sweeping 1 April 2026 award-chart revaluation that cut most economy redemption prices while raising premium-cabin ones. It covers the new Maharaja Club end to end — tiers, earning, who won and lost, Star Alliance sweet spots, feeding points from Indian credit cards, and the old Vistara cards.
Credit Cards That Come With a Dining or Hotel Membership (2026): Club Marriott, EazyDiner Prime, Taj Epicure
Some premium cards bundle a paid dining-or-stay membership as a perk — Club Marriott, EazyDiner Prime, Taj Epicure, Taj InnerCircle. This guide maps which card gets you which membership in 2026, what each membership actually does, and the one valuation rule that keeps a bundled perk from flattering a card: a membership is worth what you'll use, not its face value. Distinct from our best-dining-rate guide — this is about the memberships, not the reward rates.
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 2023 · 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
- ▼ FeeObserved 17 Dec 2025 · Effective 15 Jan 2026
New ₹3,500 one-time fee on add-on (Plus) cards
Add-on cards issued free→₹3,500 + GST, one-time, per supplementary card
ICICI's MITC fee schedule carries a footnote specific to this card: from 15 Jan 2026 a Supplementary Card fee of ₹3,500 + GST applies as a one-time charge for each add-on card. Only two cards in the range carry it — the Emeralde Private Metal and the Times Black; the Emeralde and Emeralde Private (non-metal) supplementary cards remain free.
Verification: ICICI Bank ↗ · Confidence: High
- ▼ RewardObserved 17 Dec 2025 · Effective 15 Jan 2026
Rent, fuel, tax, government & wallet spends stripped of rewards
Broad earning; ₹-denominated category caps→6 categories excluded; hard point caps (1,000–5,000 RP/cycle)
The January 2026 round excluded government services, fuel, rent, tax payments, property management and third-party wallet loads from earning reward points, and re-expressed category caps as hard point ceilings — grocery/utility/education 1,000 RP and insurance 5,000 RP per statement cycle. The BookMyShow/movie benefit also became spend-gated at ₹25,000/quarter (from 1 Apr 2026), further narrowing the card from its flat ~3% origins.
Verification: ICICI Bank (Credit Card features & charges) ↗ · Confidence: High
2024
- ▼ BenefitObserved 10 Oct 2024 · Effective 15 Nov 2024
Complimentary airport spa access withdrawn
Complimentary spa access→Discontinued
The DreamFolks-powered complimentary airport spa benefit was discontinued for Emeralde Private (and the wider ICICI premium range) from 15 Nov 2024. Unlimited lounge access was retained, as the card is exempt from the raised ₹75,000/quarter lounge-spend requirement.
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-private#value-timeline">ICICI Bank Emeralde Private Metal Credit Card value timeline</a>, CardAdvisor (CC BY 4.0).