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.

 

[pranjal1984]

Got mails for Emeralde and Sapphiro Rupay LTF. Emeralde will be closed down in January 2026 just before renewal. Sapphiro will be retained for instant discount offers.

 

[✪ D&C Cards Connoisseur 💳]

Got mails for Emeralde and Sapphiro Rupay LTF. Emeralde will be closed down in January 2026 just before renewal. Sapphiro will be retained for instant discount offers.

If both are LTF, then keep Emeralde Plastic. Atleast it's lounge access benefits are marked safe from this devaluation wave.

 

[pranjal1984]

If both are LTF, then keep Emeralde Plastic. Atleast it's lounge access benefits are marked safe from this devaluation wave.

Emeralde is paid. Already my unlimited lounges are covered with other cards. Spent 9.7 lakhs this year on Emeralde but chances of upgrade to EPM is zero. So will close it down.

 

[Giyu-san]

Actually it now makes sense for ICICI to have only three cards in its portfolio.

• Amazon Pay
• Platinum
• Emerald Private Metal.

All ICICI Bank cards (except Apay and EPM) are now only the Platinum card disguised with different colours and designs.

 

[mobsol2017]

Here you go.

is there mention of 1% fee on transportation mcc's? i hold apay and didn't get this mail yet.

 

[Trust Me]

At least Axis is useful for offline spenders with 1.5% CB

Which Axis CCs give 1.5% cashback for offline purchases?
.

 

[Trust Me]

Yeah I seen those threads, but to spend high, we need to earn high as well 🤣 and most of salary is donated to ITR 🤣

'most' implies > 50% tax, which in turn implies that you already earn high. 🙂
.

 

[Aniket Sharma]

is there mention of 1% fee on transportation mcc's? i hold apay and didn't get this mail yet.

Yes, its mentioned

 

[CyberPsych]

Which Axis CCs give 1.5% cashback for offline purchases?
.

Axis Ace card

 

[gargmolik]

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.

First, they devalued entire CASA Accounts and now this. I have been using Emeralde since 2023, first they devalued Add-on card lounge access, then International Lounge Access and now this. For a 12,000 + GST card, this card is no longer worth it, infact, to be honest, their entire bank is now no longer worth it. They just keep on forcing targets upon their staff and then they screw their prospective new clients over with idiotic reasons. I was preparing for this since a while, diversifying my portfolio between all the three banks - ICICI, HDFC and Axis slowly and steadily.

 

[ontherocks]

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

When you will enter the card details in BMS payment page, it will tell you this card is not eligible. It will fetch the data from ICICI back end.

 

[theXfactor]

Actually it now makes sense for ICICI to have only three cards in its portfolio.

• Amazon Pay
• Platinum
• Emerald Private Metal.

All ICICI Bank cards (except Apay and EPM) are now only the Platinum card disguised with different colours and designs.

Why platinum here? 😀

 

[Abhishek012]

Actually it now makes sense for ICICI to have only three cards in its portfolio.

• Amazon Pay
• Platinum
• Emerald Private Metal.

All ICICI Bank cards (except Apay and EPM) are now only the Platinum card disguised with different colours and designs.

Also Coral RuPay CC

 

[nixflix]

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

Finally my Sapphiro will have usage pattern change from "close to zero" to exactly zero.

 

[panchabhut]

Why platinum here? 😀

platinum (or coral) LTF for the sale offers where Amz CC does not work

 

[Gajakumar]

Thank God I use the coral card only for railway lounge. No devaluation for now. But may be some time 🤣

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.

 

[Shinnok]

Anyone know what this is applicable on?
> 1% fee if transportation spends exceed ₹50,000

Does this mean that hotel/flight/etc booking will have a 1% extra fee above 50k?

 

[mailmenow]

Why this new UPI id of ICICI credit card is not working???
ccpay.99999999991234@icici

​

 

[itsds]

Wallet Load will also be applicable for Amazon Pay ICICI Credit Card ? or only on core ICICI Card ?

 

[Aniket Sharma]

Wallet Load will also be applicable for Amazon Pay ICICI Credit Card ? or only on core ICICI Card ?

Included for apay