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.

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🔵 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

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🔴 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

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🔴 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

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🔴 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

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🔴 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.

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🔴 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.

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🔴 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.

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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.

 

[LadyQuark]

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?

Not for hotels (3501-3999) and airlines (3000-3350). From: https://www.mastercard.us/content/d...ocuments/quick-reference-booklet-merchant.pdf

MCC	Description
4111	Transportation: Suburban and Local Commuter Passenger, including Ferries
4112	Passenger Railways (Railroads that primarily provide long-distance passenger transportation)
4784	Bridge and Road Fees, Tolls
4131	Bus Lines

 

[Shinnok]

Not for hotels (3501-3999) and airlines (3000-3350). From: https://www.mastercard.us/content/d...ocuments/quick-reference-booklet-merchant.pdf

MCC	Description
4111	Transportation: Suburban and Local Commuter Passenger, including Ferries
4112	Passenger Railways (Railroads that primarily provide long-distance passenger transportation)
4784	Bridge and Road Fees, Tolls
4131	Bus Lines

That is fantastic, was thinking will affect all transport

Looks like just railway will be affected (though 50k spends on railways is unlikely)

 

[theXfactor]

That is fantastic, was thinking will affect all transport

Looks like just railway will be affected (though 50k spends on railways is unlikely)

For personal expenses these limits are good. Bank is simply tightening the screws to ensure no misuse

 

[tachniki]

Yes and there will be always technical issues, so bye bye bogo

Tech walo ko bina baat ke gali padti hain. 😁 Aise unimportant api ko HA mein chalana bahut costly hota hain. 😁

 

[Aniket Sharma]

Tech walo ko bina baat ke gali padti hain. 😁 Aise unimportant api ko HA mein chalana bahut costly hota hain. 😁

Bhai wo baat ni hai avi ka icici app hi dekh lo full broken app feel hota hai

 

[Pravin1156]

Anyone got this email from RBL World Safari for Toll & bridges devaluation.

 

[cchack]

Offers spend based ok, now transportation is capped ? Just imagine you use credit card for vehicle purchase or vehicle maintenance or uber Ola etc that's going to be a massive hit. This will not stop here, wait and watch every daily spends which we are doing in credit card will be capped and an interest will be levied.... mark it, save it 😂

I believe these restrictions are a byproduct of cc misuse on vehicle purchases to get the 3 % rewards. On noticing these transactions, cc companies are pulling the plug on them.

Also, these would hamper their vehicle loan and emi business - another way to boost them instead of through cc spend specially if people are able to pay back the vehicle spends in the same cycle and without emis on cc, rather getting the rewards instead and also fulfilling the spend criteria.

After housing, it is vehicle spends which are biggest.

However, this would also impact vehicle maintenance spends also but would generally be within the limits they have given for 20K for EPM.

In general, any devaluation due to limits being imposed is a way to plug the gap on exploitation of specific category spends and cc teams are constantly observing those patterns.

 

[cchack]

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.

How would they sell so many Emerald cards then for a hefty fee and no benefits if they don't create confusion 😛

 

[theXfactor]

How would they sell so many Emerald cards then for a hefty fee and no benefits if they don't create confusion 😛

EPM gives you equivalent points for the fee and as long as it’s there I don’t mind

 

[cchack]

EPM gives you equivalent points for the fee and as long as it’s there I don’t mind

I know but then not everyone can get the card. So, others get the Emeralde in the name of EPM and find out only later.

 

[Aniket Sharma]

I know but then not everyone can get the card. So, others get the Emeralde in the name of EPM and find out only later.

Epm/timesblack sucks in case of accelerated rewards