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.

 

[sourpai]

Is there an option to convert ICICI Saphhiro Visa LTF to Rupay LTF? Has anyone called customer care and done it?

 

[altair21]

Is there an option to convert ICICI Saphhiro Visa LTF to Rupay LTF? Has anyone called customer care and done it?

no point imo, if you are looking for a rupay card, tata neu infinity rupay is way more useful

 

[sourpai]

no point imo, if you are looking for a rupay card, tata neu infinity rupay is way more useful

I am aware of that and have many more better UPI cards. My question was specifically on conversion and anyone with experience of converting it

 

[HumorSimpson]

Any changes for icici apay 🤔

 

[ccdc]

step in the right direction....direction being making cc so worthless...ppl will close cc automatically...

 

[ccdc]

so many threads with same topic....someone pls delete extra...keep just one...

 

[vine]

Is ICICI planning for next generation of credit cards? Say, Corala, Rubyy, Sapphiru, Emeraldi

 

[ihmahetar]

Already closed Coral Rupay CC

 

[2025]

Any changes for icici apay 🤔

I haven't received any email yet.

Anyone here got update for their Apay card?

 

[theXfactor]

BOGO toh bada wala loss hogya 😭

EPM isn’t impacted for Bogo

 

[ash_m]

Any changes for icici apay 🤔

I haven't received any email yet.

Anyone here got update for their Apay card?

I received an email for Apay card as well.

Nothing specific. Same set of changes on transaction fees, EMI cancellation, DCC markup fee etc.

Overall, I think the most relevant impact is removal/limitation of B1G1 offers, especially on Sapphiro because people only had this card for movie tickets.

The other one is a hefty 3.5K fee on EPM add-ons, ICICI is probably running short on metal to issue more add ons so you gotta pay now. The competitor, Infinia still doesn't have any fee on add on cards though. Won't be surprised if they start to do so in a month or two.

 

[theXfactor]

There is no change to points earning, as far as I can see.

But there are 2 big changes:
1. Add on cards now come with a hefty 3.5K one-time fee per card (still some time, if you were ever planning to apply for it)

2. BOGO upto 750 on Bookmyshow is now conditional on spends of 25K in the preceding quarter. TBH, it makes zero sense on a super premium card. Looks like ICIC thought - Infinia does not give free movie tickets. So why should we keep doing this? Let's apply spend based criteria on EPM as well.

Afterall, it is almost like ICICI just wants to keep EPM an inch ahead of Infinia somehow. Doesn't look like the other rewards are going to last long on EPM at this rate. iShop devaluations are highly likely too pretty soon.

Bhai BOGO ON ICICI isn’t impacted. This isn’t applicable for Metal variant.

 

[ash_m]

Bhai BOGO ON ICICI isn’t impact. This isn’t applicable for Metal variant.

Yeah you're right.

Earlier it did seem like that, but later got an email for each card so it's clear from that.

Anyway, ICICI didn't leave any chance to confuse though. The PDF says "Emeralde Metal Card" against add on fee related update, but says "Emeralde Private Card" elsewhere.

 

[theXfactor]

Folks, just to clear the confusion, I have read the notice and they have clearly mentioned “Emeralde Private Metal” as “Emeralde Metal”, EPM is the only Metal variant in Emeralde.
There’s no spend criteria for BMS BOGO for EPM.
Don’t get confused between Emeralde Private Card & Emeralde Private Metal (Emeralde Metal) variant.
The only major impact for EPM is addon Fee. 2% DCC exists even today (post Oct) as per MITC.

EPM is largely unimpacted in terms of benefits except for newly introduced Addon fee.

 

[cardio_guycardio_guy is verified member.]

Folks, just to clear the confusion, I have read the notice and they have clearly mentioned “Emeralde Private Metal” as “Emeralde Metal”, EPM is the only Metal variant in Emeralde.
There’s no spend criteria for BMS BOGO for EPM.
Don’t get confused between Emeralde Private Card & Emeralde Private Metal (Emeralde Metal) variant.
The only major impact for EPM is addon Fee. 2% DCC exists even today (post Oct) as per MITC.

EPM is largely unimpacted in terms of benefits except for newly introduced Addon fee.

ICICI has created this confusion by putting the same name for 3 types of card - emeralde plastic, emeralde private plastic (when such a thing doesnt even exist), emeralde private metal
they could have given separate names for these carsd. atleast emeralde plastic and kimeralde private metal
Their main aim is just to confuse users and trap them in the plastic waste emeralde for whoever is looking for epm.

 

[theXfactor]

ICICI has created this confusion by putting the same name for 3 types of card - emeralde plastic, emeralde private plastic (when such a thing doesnt even exist), emeralde private metal
they could have given separate names for these carsd. atleast emeralde plastic and kimeralde private metal
Their main aim is just to confuse users and trap them in the plastic waste emeralde for whoever is looking for epm.

Right but it is what is it and ICICI being ICICI. Now we need to put things in the right perspective.

 

[theXfactor]

No major devaluation on EPM. DCC remains unchanged, BOGO remains unconditional, reward rate remains the same. Also, transport spends on EPM beyond 20k will continue to earn rewards, if it goes beyond 50k 1% fee will be levied.

Add on fee for addon is introduced. Majority of us already have required add-ons but those who don’t have it, go ahead and apply, you have a month to go.

TB isn’t mentioned for Bogo, looks like they are also not impacted (not sure if BMS Offer is there on TB in the first place)

 

[Abhishek012]

so many threads with same topic....someone pls delete extra...keep just one...

Also change the title RuPay likh k rakhe ho, valid for all card networks and merge the post.

@CyberPsych
@TechnoFino
@kuchbhi
@cardio_guy

 

[akiratoriyama]

No major devaluation on EPM. DCC remains unchanged, BOGO remains unconditional, reward rate remains the same. Also, transport spends on EPM beyond 20k will continue to earn rewards, if it goes beyond 50k 1% fee will be levied.

Add on fee for addon is introduced. Majority of us already have required add-ons but those who don’t have it, go ahead and apply, you have a month to go.

TB isn’t mentioned for Bogo, looks like they are also not impacted (not sure if BMS Offer is there on TB in the first place)

No movie benefit in the card

 

[harsha1]

Does these extra fees or caps applicable for AmazonPay ICICI Credit card as well?