ICICI Bank Emeralde Private Metal Credit Card Launched

ICICI Bank has launched the Emerald Private Metal Credit Card, which offers all the benefits of the ICICI Emerald Credit Card along with a few additional benefits.

Welcome Benefits:

1. Taj Epicure membership for the first year. [You'll get one stay voucher with this]
2. Receive 12,500 bonus reward points after annual fee payment each year.
3. EazyDiner Prime membership (renewed annually).

Main Benefits:

1. Unlimited golf games/lessons for the primary cardholder.
2. Unlimited domestic airport lounge access using the Emerald Private Metal Credit Card for both the primary and add-on cardholders.
3. Unlimited international airport lounge access using Priority Pass for both the primary and add-on cardholders.
4. Buy one, get one free movie/event ticket from BookMyShow twice per month. Maximum Discount: Rs. 750 per ticket.
5. Up to Rs. 12,000 refund for a maximum of 2 transactions per year on tickets booked exclusively with the Emeralde Private Metal Credit Card.
6. Discounted markup fees: 2%.
7. 1% fuel surcharge waiver for all transactions up to Rs. 4000. Maximum surcharges waiver - Rs. 1000 per statement cycle.
8. No Extra Charges/Penalty For: Cash Withdrawal, Over limit, Late payment.
9. You can get 3 complimentary add-on cards

Reward System:
Earn 6 reward points for every Rs. 200 spent.
No reward points on Tax Payment, Rent payments, EMI and Fuel purchases.

Reward Points Value:
Flight/Hotel Booking: 1 reward point = Rs. 1
Gift Vouchers*: 1 reward point = Rs. 1
Rewards Catalogue [other products]: 1 reward point = Rs. 0.60
Statement Credit: 1 reward point = Rs. 0.40

*Brands' Gift Vouchers available under the 1:1 redemption ratio include:

• Travel Category: MakeMyTrip, EaseMyTrip, Yatra, ClearTrip, Hyaat, Marriott International, ITC Hotels, Taj Hotels.
  
  View attachment 36109
• Electronics: Apple
• Luxury Brands: Tanishq, Mothercare [Luxe], G-Star Raw [Luxe], Giorgio Armani [Luxe], Emporio Armani [Luxe], Canali [Luxe], Coach [Luxe], Tumi [Luxe], Scotch & Soda [Luxe], Jimmy Choo [Luxe]

There are lots of other brand vouchers available, but for those, you'll get a value of 1 reward point = Rs. 0.60. I think you have a decent option available under the 1:1 redemption category. ITC, Hyatt, Marriott, Taj, and other travel-related vouchers are worth considering. So, in terms of redemption options, I must say this is a decent card. And I think this is better than HDFC SmartBuy portal flight or hotel booking redemption system. The main downside of SmartBuy portal flight or hotel booking redemption is that you can't use 100% reward points. However, in the case of ICICI Emeralde Private Metal Card, you can just get an MMT voucher or any other travel voucher and book your flights or hotels.

Reward Rate:
Flight/Hotel Booking: 3%
Gift Vouchers: 3%
Rewards Catalogue: 1.8%
Statement Credit: 1.2%

Reward Redemption:
You can redeem your ICICI Bank Reward Points across Catalogues, from movie and travel vouchers to lifestyle products, mobiles, appliances, statement credit and more.
Redemption of Reward Points against statement balance (cashback redemption) is capped at 50,000 Reward Points per Statement cycle.

Reward Capping:

• Reward Points earned on Insurance transaction will be capped at 5,000 Reward Points per statement cycle. [Spends required to reach maximum reward- Rs. 1,66,800]
• Reward Points earned on grocery transaction will be capped at 1,000 Reward Points per statement cycle. [Spends required to reach maximum reward- Rs. 33,400]
• Reward Points earned on Utilities transaction will be capped at 1,000 Reward Points per statement cycle. [Spends required to reach maximum reward- Rs. 33,400]
• Reward Points earned on Education transaction will be capped at 1,000 Reward Points per statement cycle. [Spends required to reach maximum reward- Rs. 33,400]

Milestone Benefits:
Spend Rs. 8 lakhs per year and receive 2 air travel vouchers worth Rs. 3000 each (total Rs. 6000) from EaseMyTrip. Reward Rate: 0.75%.

Spends 4 Lakhs and get first EaseMyTrip voucher worth Rs. 3000/-​

Spends 8 Lakhs and get your second EaseMyTrip voucher worth Rs. 3000/-​

Charges:
Joining Fee: Rs. 12,499 + GST.
Annual Fee: Rs. 12,499 + GST.
Annual Fee Reversal Criteria: Spend Rs. 10 lakhs in the next card membership year to have your annual fee reversed.

Card Replacement Fees: Rs. 3500/-

Opinion:
The ICICI Bank Emeralde Private Metal Credit Card is the flagship credit card of ICICI Bank. When considering the reward rate, I must say this card offers decent value back on spending. The main drawback is that ICICI Bank does not offer a reward points transfer feature like HDFC Bank or Axis Bank.
Typically, credit cards of this nature provide the option to transfer points. However, in this case, we can only redeem our reward points for brand gift vouchers. I hope ICICI Bank will address this issue and introduce some transfer partners soon. You'll receive 12,500 reward points worth Rs. 12,500 on joining, so mathematically you'll only need to pay the GST (Approx. Rs. 2250/-) each year, similar to the SC Ultimate credit card. Additionally, you'll receive Taj Epicure membership for the first year with this card, allowing you to enjoy a complimentary stay at a Taj hotel. This benefit can help offset your card's joining fees effectively.
Overall, this is a good credit card, unlike other gemstone cards, as it offers a better reward rate. If you are seeking a premium credit card but don't plan to redeem your reward points for airline miles and instead prefer gift vouchers, then this credit card is for you.

 

[anirban.choudhuryanirban.choudhury is verified member.]

Answers to all the above queries!



“on the website they mention that they give jetmiles sapphiro debit card

also what is your bin number is it?

465511”



I think they even offered Jet Miles Sapphire LTF earlier but I guess it went down with Jet 😉

Bin number is different. Generally, the same BIN number should correspond to same type of cards.



“Is it a private banking and salary account separately ?”

Nope, they opened a new Private Salary account and then upgraded others including family. The salary requirement could be in the range of 5-7 lacs. Things could have changed now from last year. Sometimes they might look at employer relationship as well.



“Anyways I think you would easily get Emeralde Pvt approved

Just speak to your RM”

Spoke to the CC person referred by RM, she didn’t even know that it is Private metal, she said it is metal only. Later, she said it is not offered LTF. I told her even Emeralde Is not offered LTF, mine was a special case (before even Private Banking a/c). She hasn’t gotten back yet.



“I wonder who are the RMs of these UHNIs? Regional or Zonal Heads themselves?”

Nope, Private managers just like IDFC etc.



Well, I think Wealth and Private are useless other than 0 balance which anyway ICICI gives easily. The Service Managers aren’t great and they call you monthly to beg for funds!

I think you should change your RM.
I have a wealth select , and I only received one call from my RM for funds , all I said that it's a salary account and it is supposed to be 0 MAB
Since then he has never called me for funds.
The case with Emeralde Private is different than Emeralde , getting emeralde LTf was easy as the branch and zonal teams could have taken internal approvals and get you emeralde , I was issued emeralde LTF when I was not even a wealth customer.
But they have changed the process for emeralde private , by simply disabling offline applications for metal, you need to ask your RM to facilitate the internal approval such that you get pre-approved offer directly in net banking and mobile app as paid , once you get it as paid or FYF ( few got upgraded as FYF also) then you can start your negotiations to convert the same to LTF.

 

[imdjay]

Nope, Private managers just like IDFC etc.

Saw this - https://www.icicibankprivatebanking.com/en/ourcommitment-expertsatyourservice​

​

Experts at your service​

Our team is highly experienced to deliver the best return on your investments by recommending specialized investment ideas and is focused to provide you an exceptional experience of banking with us

Umesh Balani​

Zonal Head, West & North India​

Umesh has more than two decades of rich experience including 19 years with ICICI Group, largely in Private Banking and Investments. He is a B.Sc Graduate and holds M.B.A degree from Institute of Management and Information Sciences, Bhubaneswar. Umesh has also headed the functions like Product, Strategy, Branch Banking and Institutional Sales.

Surendra Appicatlaa​

Zonal Head, South & East India​

Surendra with an impressive 21 years of experience, has spent more than 15 years with banking with ICICI Banking. He holds B.E. and an M.B.A. degree from Xavier Institute of Management. He has completed the General Management Program in Luxury management by Indian Institute of Management, Ahmedabad, India and ESSEC Business School, Paris, France. He had diverse experience in Information Technology and in Banking areas include Retail Banking, Wealth Management, Corporate Banking and Private Banking.

Sanjeev Singh​

Business Head, International Private Banking​

Sanjeev's extensive career spanning 19 years in banking and financial services, includes 15 years at ICICI Bank and ICICI Bank International Private Banking in the United Arab Emirates. A B.Sc. from the University of Calcutta, he holds an M.B.A. degree from the University of Pune. Sanjeev has successfully managed portfolios of diverse asset classes.

 

[Deleted member 11974]

“Anyways I think you would easily get Emeralde Pvt approved

Just speak to your RM”

Spoke to the CC person referred by RM, she didn’t even know that it is Private metal, she said it is metal only. Later, she said it is not offered LTF. I told her even Emeralde Is not offered LTF, mine was a special case (before even Private Banking a/c). She hasn’t gotten back yet.

one guy who got emralde metal he got it fyf
and he also has emralde ltf and damiant ltf not sure about damiant tho

 

[Deleted member 11974]

I think you should change your RM.
I have a wealth select , and I only received one call from my RM for funds , all I said that it's a salary account and it is supposed to be 0 MAB
Since then he has never called me for funds.
The case with Emeralde Private is different than Emeralde , getting emeralde LTf was easy as the branch and zonal teams could have taken internal approvals and get you emeralde , I was issued emeralde LTF when I was not even a wealth customer.
But they have changed the process for emeralde private , by simply disabling offline applications for metal, you need to ask your RM to facilitate the internal approval such that you get pre-approved offer directly in net banking and mobile app as paid , once you get it as paid or FYF ( few got upgraded as FYF also) then you can start your negotiations to convert the same to LTF.

how did you get upgraded to wealth select?
is your netbanking ui golden and white now?

 

[anirban.choudhuryanirban.choudhury is verified member.]

one guy who got emralde metal he got it fyf
and he also has emralde ltf and damiant ltf not sure about damiant tho

His Diamant is not officially LTF , but he has not been charged yet.

 

[Deleted member 11974]

His Diamant is not officially LTF , but he has not been charged yet.

whats his nrv with icici that he got this offer?

 

[anirban.choudhuryanirban.choudhury is verified member.]

whats his nrv with icici that he got this offer?

Not sure about NRV
But he has Diamant , you can infer from it 😃

 

[anirban.choudhuryanirban.choudhury is verified member.]

Also
It's easier to get Centurion than icici Diamant

 

[Deleted member 11974]

Also
It's easier to get Centurion than icici Diamant

makes sense as centurion is given on spending 1 cr each and every year for the past 5 years on plat charge
while damiant is invite only for celebrities as of now

 

[MilesMax]

I think you should change your RM.
I have a wealth select , and I only received one call

What's the minimum net salary required for wealth Select?

 

[Deleted member 11974]

What's the minimum salary required for wealth Select?

8 as he said in a comment above

 

[NeoOnWheels]

When I spoke to my RM, she said I am eligible for Private metal and I dont even have anything near to 8L salary 😆. I have Priviledged Banking account (Savings+Demat etc) and APay card.

Now that I have got Infinia, I wont push for Emeralde metal but if I get it easily, I will give it a try.

 

[itsds]

Don't think so. It's like Amex Centurion I think. They invite, you accept the invite and then the card's issued I think.

iMobile and NetBanking promos are mass promos I think, pushed out to target groups in batches. I can be wrong.

yeah lets c

 

[itsds]

When I spoke to my RM, she said I am eligible for Private metal and I dont even have anything near to 8L salary 😆. I have Priviledged Banking account (Savings+Demat etc) and APay card.

Now that I have got Infinia, I wont push for Emeralde metal but if I get it easily, I will give it a try.

any use case are you seeing in emeralde private metal compare to Infinia ?

 

[Deleted member 11974]

any use case are you seeing in emeralde private metal compare to Infinia ?

its basically a free card if you can convert cash aginst statement at 1:1 after spending 4L
and now that wallet oad isnt excluded you can abuse it left right center

 

[SSV]

My view, this private metal will just be like the current emeralde in about one years time..

It's only the initial hype..
nothing extraordinary here..
By that time, there may be some sort of devaluation as well..

 

[Deleted member 11974]

india doesnt have any visa infinite previlege card right as of now?

 

[MilesMax]

My view, this private metal will just be like the current emeralde in about one years time..

It's only the initial hype..
nothing extraordinary here..
By that time, there may be some sort of devaluation as well..

If compared to Infinia this card is pretty mediocre. If someone is into hotel points / airmile game I don't see any point using Emeralde private over Infinia.

It's just a nice card to keep since renewal is compensated with equal number of points like Infinia and use it for BMS / PP benefits.
The advantage is see is for festive sale offers where one can get the discounts from Amazon / Flipkart along with additional 3% which is a nice option.

Also ICICI is trying to compare this card with Infinia, Magnus and Amex reserve. Their sales desk has not took the Real power of Infinia ( smartbuy GV and airmile conversion) or Magnus 5:4 conversion into account.

 

[itsds]

My view, this private metal will just be like the current emeralde in about one years time..

It's only the initial hype..
nothing extraordinary here..
By that time, there may be some sort of devaluation as well..

Even I think this card will be easily available to everyone after 3-4 months. Lets c

 

[SSV]

Even I think this card will be easily available to everyone after 3-4 months. Lets c

By the time it becomes widely available, there will be no renewal benefit..
Hence 3 to 4 months is too shorter period..
1 to 1.5 years is a reasonable time period