Devaluation ICICI Bank Credit Cards: Major Devaluation Announced (Effective Jan–Feb 2026)

[TechnoFinoTechnoFino is verified member.]

Hey TFCians,
ICICI Bank has officially announced multiple changes across almost its entire credit card portfolio.
This is not a single hit - it’s a layered devaluation impacting rewards, benefits, fees, and overall usage freedom.

ICICI Bank credit cards were already weak when it came to meaningful benefits and reward earning. After these changes, the value proposition has taken an even bigger hit - for many users, it’s almost over.

I’ve broken down the impact card-wise and category-wise below.

🔴 1. Reward Points on Transportation Spends – Now CAPPED​

🟢 Premium Segment​

ICICI Bank Emeralde Metal Credit Card
• Reward points on transportation MCCs (4111, 4112, 4784, 4131)
• Capped at ₹20,000 per month
Earlier → uncapped earning
Now → monthly ceiling introduced

​

🟡 Upper Mid & Premium (Non-Metal)​

Applicable cards:

• ICICI Bank Rubyx Credit Card
• ICICI Bank Secured Rubyx Credit Card
• ICICI Bank Sapphiro Credit Card
• ICICI Bank Emeralde Credit Card
• ICICI Bank Emeralde Private Credit Card

• Transportation reward earning capped at ₹10,000 per month
• Reward points depend on MCC mapping
This directly affects:
Metro users, frequent travellers, cab-heavy users.

​

🔵 Entry & Mass Cards​

Applicable cards:

• ICICI Bank Coral (all variants incl. NRI & Secured)
• ICICI Bank Platinum / Platinum Chip / Instant Platinum
• ICICI Bank HPCL Platinum & Coral variants
• ICICI Bank Manchester United Cards
• Chennai Super Kings ICICI Bank Card
• ICICI Bank Expressions
• ICICI Bank Parakram / Parakram Select

• Transportation rewards capped at ₹10,000/month
• Lower earn rate + lower cap = double hit

​

🔴 2. Insurance Spend Reward Cap​

ICICI Bank HPCL Super Saver Credit Card
• Reward points only up to ₹40,000 insurance spend
• MCCs covered: 5960, 6300, 6381, 6399
Earlier → higher or unclear cap
Now → clearly restricted

​

🔴 3. BookMyShow Benefits – Downgraded or Removed​

❌ Benefit Discontinued Completely​

ICICI Bank HPCL Super Saver Credit Card
• Complimentary BookMyShow benefit removed
• Zero movie value going forward

⚠️ Spend-Based Unlock Introduced​

Applicable cards:

• ICICI Bank Instant Platinum / Instant Platinum Chip
• Coral, Rubyx, Sapphiro, Emeralde (most variants)
• Adani One Platinum & Signature
• MakeMyTrip ICICI Cards
• Manchester United Cards
• CSK ICICI Card

• Must spend ₹25,000 in previous quarter
• Only then BMS benefit active for next quarter
Earlier → automatic
Now → conditional

​

🔴 4. NEW Transaction Fees Introduced (Applicable on All Retail Cards- Times Black, EPM, etc.)​

This is a big behavioural change.

🎮 Gaming / Fantasy Platforms​

• 2% fee on platforms like:
Dream11, MPL, Rummy Culture, Junglee Games
• MCC: 5816 (and future similar MCCs)

💰 Wallet Loading​

• 1% fee on wallet loads ₹5,000+
• Applies to:
Amazon Pay, Paytm, MobiKwik, Freecharge, OlaMoney
• MCC: 6540
Wallet rotation strategies → effectively killed.

🚆 Transportation Overspend Fee​

• 1% fee if transportation spends exceed ₹50,000
Earlier → just reward cap
Now → actual penalty

​

🔴 5. Forex / DCC Charges Revised (Jan 15, 2026)​

Card	New DCC Fee
Times Black ICICI	1.49%
Emeralde Metal / Emeralde / Emeralde Private	2.00%
MakeMyTrip ICICI Travel	0.99%
Amazon Pay ICICI	1.99%
All Other ICICI Cards	3.50%

For most ICICI cards → foreign spends just became expensive.

​

🔴 6. Add-On Card Now Paid​

ICICI Bank Emeralde Metal Credit Card
• New add-on cards issued on or after 15 Jan 2026
• ₹3,500 one-time fee
Luxury positioning → monetised.

​

🔴 7. Cash Payment Penalty Increased​

Cash payment at ICICI branches:
₹100 → ₹150 per transaction
Another push away from offline bill payments.

​

🔴 8. EMI Foreclosure Charges Introduced​

Cancelling an EMI mid-tenure will now attract foreclosure charges
Earlier flexibility removed
Important for people who convert spends casually into EMIs.

​

My Honest Take​

This is not a single devaluation,
this is ICICI restructuring card usage behaviour.
They are clearly saying:
• Spend less on wallets & gaming
• Track category caps
• Pay for premium privileges
• Don’t treat ICICI cards as all-rounders anymore

ICICI Bank is clearly saying - we don’t want to be your primary card.
Go ahead, get yourself a new main credit card.

Anyway, let’s be honest.
ICICI credit cards were, are, and will remain among the weakest cards in terms of reward earning.
Their real use has always been limited to instant online brand discounts - nothing more.

If you’re still using an ICICI card as your primary card, this devaluation is your sign to move on.

 

[RichieRich]

Coral ki value bhi thi kya?

haven't received any email for sapphiro 🙁

 

[Abhishek012]

Valid for all Coral card networks na. sirf RuPay ka naam kyun chipka diye. I know Coral RuPay walo ko aaya hoga aise but sab card network pe he hoga.

 

[Abhishek012]

W.e.f 15th, Jan 2026 - All ICICI Credit Card Devaluation - Emeralde Metal Credit Card to Coral Credit Card:

Read here -

https://www.icici.bank.in/content/dam/icicibank/india/managed-assets/revamp-page-images/docs/pdf/credit-card-charges-updated-notice.pdf

 

[n69b]

BOGO toh bada wala loss hogya 😭

 

[nh124001]

kaal hi sapphiro approve hua thaa.. 1 cibil hit waste hogaya 😢

 

[CyberPsych]

Coral ki value bhi thi kya?

I hold it only for online instant discount offers as APay may not give..

 

[RichieRich]

icici cards pehle bakwaas the, ab bakwaas pro max ho gye.

 

[nh124001]

kaal hi sapphiro approve hua thaa.. 1 cibil hit waste hogaya 😢

 

[Abhishek012]

W.e.f 15th, Jan 2026 - All ICICI Credit Card Devaluation - Emeralde Metal Credit Card to Coral Credit Card​

A

Devaluation Thread 'W.e.f 15th, Jan 2026 - All ICICI Credit Card Devaluation - Emeralde Metal Credit Card to Coral Credit Card'

Saturday at 4:49 PM

W.e.f 15th, Jan 2026 - All ICICI Credit Card Devaluation - Emeralde Metal Credit Card to Coral Credit Card:

Read here -

https://www.icici.bank.in/content/dam/icicibank/india/managed-assets/revamp-page-images/docs/pdf/credit-card-charges-updated-notice.pdf

• Abhishek012
• bank credit card devaluation emeralde icici
• Replies: 62
• Forum: Credit Card - General

• 
• 
• 

 

[n69b]

kaal hi sapphiro approve hua thaa.. 1 cibil hit waste hogaya 😢

Activate mat karo ab

 

[karanssh]

literally one good thing about icici cards that also gone

 

[nh124001]

Activate mat karo ab

ltf hai, priority pass use karuga, coral n hpcl toh waise bhi band karvana hai

 

[panu24]

Probably all ICICI cards are hit by this devaluation.
Just got email for my Ruby combo credit cards as well.

 

[thanix]

I do not have Saphhiro and so I do not know if the devaluation terms are exactly the same. Can you confirm it?

Yes I received the same email for Sapphiro.

 

[nari]

Thanks ICICI for giving me a good reason to close my Saaphiro LTF and free up not needed space in my desk.

 

[hellowo₹ld]

how will bms know about our spends? will they send full card number to bms?

 

[Giyu-san]

Full comedy - for Rubyx spend 25k to get a massive 25% off on BMS tickets. The BMS convenience charges itself will often be more than the 25% discount! 😆

 

[hellowo₹ld]

After rent, education, wallets, lounge, its time for movie tickets..

- we're surprisingly making impact 🙂

 

[cardio_guycardio_guy is verified member.]

So the BMS BOGO which was the only benefit of Sapphiro is gone now.
Thank you ICICI for killing your already dead good for nothing cards.

ICICI is getting out of cards game it looks like. Not even one good card when compared with peers like HDFC and Axis.
Or they are thinking whatever kachra they throw, customers will grab it with both hands.
Sad state of affairs.

 

[StanRoute66]

ICICI Bank
Your Card - Updates!

Key updates to rewards & charges - ICICI Bank Coral RuPay Credit Card

Dear xxxxxxxxx,

This is to notify you about the upcoming changes to the features and charges of your ICICI Bank Coral RuPay Credit Card.

Reward Points effective 01-Feb-26
• You will continue to earn reward points* on the transactions carried out through Merchant Category Codes (MCC: 4111, 4112, 4784, 4131) up to spends of ₹10,000 per month.
*Number of Reward Points earned will depend on the MCC.

Revision in BookMyShow offers effective 15-Jan-26
• Continue to enjoy your favourite movies and events with BookMyShow offers on your Credit Card by spending ₹25,000 or more in the preceding quarter.
For example: To enjoy the offer in Apr 2026, May 2026 and Jun 2026, spend ₹25,000 between Dec 26, 2025 and Mar 25, 2026. This cycle will repeat every quarter.

Update on Transaction Fee effective 15-Jan-26
• 2% fee will be levied on transactions carried out on platforms such as (but not limited to) Dream11, Rummy Culture, Junglee Games and MPL. The fee will apply to transactions carried out through Merchant Category Code (MCC) 5816 or any other MCC introduced in the future for similar types of transactions.

• 1% fee will apply on transaction amounts of ₹5,000 or more when loading funds onto third-party wallets such as (but not limited to) Amazon Pay, Paytm, MobiKwik, Freecharge and OlaMoney. The fee will apply to transactions carried out through Merchant Category Code (MCC) 6540 or any other MCC introduced in the future for similar types of transactions.

• A fee of 1% of the transaction amount will be charged for transactions carried out through Transportation Merchant Category Code (MCC: 4111, 4112, 4784, 4131) exceeding ₹50,000.

Revision of Dynamic Currency Conversion (DCC) Fee, effective 15-Jan-26
• DCC Fee is applicable on each international transaction carried out in Indian currency at international locations or transactions carried out in Indian currency with merchants located in India but registered in a foreign nation. DCC Fee will be revised in line with the Forex mark-up charges of your Credit Card.

Present DCC FeeRevised DCC Fee
(same as Forex Mark-up Fee)
1% of transaction amount3.50% of transaction amount

Revision of fees on cash payment at Branches, effective 15-Jan-26
• Cash payment at Branches for clearing the Credit Card dues will be revised from ₹100 per payment transaction to ₹150 per payment transaction.

New UPI ID for Credit Card Payments
• The current UPI ID has been replaced. Your new UPI ID will be in the following format:
ccpay.<10-digit mobile number><last 4 digits of card>@icici
For example, if your mobile number is 9999999999 and the last four digits of your card are 1234, your new UPI ID will be: ccpay.99999999991234@icici

EMI Foreclosure Charges
• Discontinuation/Cancellation of ongoing EMIs after opting for them at the time of purchase will now attract applicable foreclosure charges. For detailed Terms & Conditions, visit https://icici.co/ICICIT/k/DUvfEE9Q1cw

Credit Card Usage Guidelines
• Please note that your Credit Card is issued solely for personal expenses. Usage for commercial or resale purposes is prohibited. The card should not be used for speculative, anti-social, money laundering or working capital purposes. Ensure your transactions are lawful and bona fide.
For further details, please refer to section- II (e) of Most Important Terms & Conditions.

Please continue using your ICICI Bank Credit Card and enjoy the host of benefits for a truly rewarding experience.

Sincerely,
Team ICICI Bank

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