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.

 

[atx]

So I escalated until PNO about the credit card upgrade. They called me today and said they are unable to offer an upgrade for my profile. They didn't specify what was required for me to become eligible for the upgrade. Also that co-branded cards are offered upgrades only on "rare occasions". In addition they said that it is not possible for them to offer me any LTF cards from ICICI but if I wanted paid they could look into it.

Well it just looks like they just don't want me as a customer. So I am going to close the savings bank account and stop using ICICI Amazon Pay card.

ICICI is not worth keeping big relationship as such in the first place, because of their ultra mediocre offerings. Only this new metal card stands somewhere in the competition, but its just too late, and still a bit behind HDFC.
Over and above that, when they deny some things even when long time customer asks, they're just taking customer for granted.

However, apay card could be useful for some occasions.

 

[pessimist_supreme]

I am getting the offer from bank to get this card - from the looks of it, this looks like an excellent card and a great allrounder. No category is left out - from lifestyle to travel to entertainment (1500 per month for both movies and non-movies). For someone like me who uses card directly - this seems even better than Infinia.

Another major advantage I see of Emeralde Private is getting EaseMyTrip vouchers from rewards, with ~100% redemption, and booking Indigo Flexi Plus tickets - which is not possible to do on SmartBuy.

What are others thoughts?

 

[SSV]

I am getting the offer from bank to get this card - from the looks of it, this looks like an excellent card and a great allrounder. No category is left out - from lifestyle to travel to entertainment (1500 per month for both movies and non-movies). For someone like me who uses card directly - this seems even better than Infinia.

Another major advantage I see of Emeralde Private is getting EaseMyTrip vouchers from rewards, with ~100% redemption, and booking Indigo Flexi Plus tickets - which is not possible to do on SmartBuy.

What are others thoughts?

If you are getting this offer, then it is a no-brainer.. just take the card... you wont regret it.. It is a decent lifestyle card.. with some moderate rewards on spends as well... overall an allrounder..

 

[Deleted member 13981]

I am getting the offer from bank to get this card - from the looks of it, this looks like an excellent card and a great allrounder. No category is left out - from lifestyle to travel to entertainment (1500 per month for both movies and non-movies). For someone like me who uses card directly - this seems even better than Infinia.

Another major advantage I see of Emeralde Private is getting EaseMyTrip vouchers from rewards, with ~100% redemption, and booking Indigo Flexi Plus tickets - which is not possible to do on SmartBuy.

What are others thoughts?

On the basis of banking relationship?

 

[pessimist_supreme]

On the basis of banking relationship?

Seems that way - have a salary account from past 6 years with decent salary. Have only ever used Amazon Pay and ICICI Platinum from ICICI though - with Amazon Pay as my primary card for offline spends. Will use this for offline spends now - 3% everywhere offline seems great.

 

[anirban.choudhuryanirban.choudhury is verified member.]

I am getting the offer from bank to get this card - from the looks of it, this looks like an excellent card and a great allrounder. No category is left out - from lifestyle to travel to entertainment (1500 per month for both movies and non-movies). For someone like me who uses card directly - this seems even better than Infinia.

Another major advantage I see of Emeralde Private is getting EaseMyTrip vouchers from rewards, with ~100% redemption, and booking Indigo Flexi Plus tickets - which is not possible to do on SmartBuy.

What are others thoughts?

Pretty mediocre card compared to other bank offerings.

Yes Marquee is a better proposition with it's 4.5% returns on online spends
Bms is also there and lounge access is decent.
Offline and online forex is also decent.

Redemption options are pretty good too.

 

[SSV]

Pretty mediocre card compared to other bank offerings.

Yes Marquee is a better proposition with it's 4.5% returns on online spends
Bms is also there and lounge access is decent.
Offline and online forex is also decent.

Redemption options are pretty good too.

Have you used yes Marquee?
Have you got rewards as per promised?

 

[Deleted member 13981]

Seems that way - have a salary account from past 6 years with decent salary. Have only ever used Amazon Pay and ICICI Platinum from ICICI though - with Amazon Pay as my primary card for offline spends. Will use this for offline spends now - 3% everywhere offline seems great.

Yup. The card is really good for offline spends. One more question.. What is the credit limit on your existing ICICI cards?

 

[pessimist_supreme]

Pretty mediocre card compared to other bank offerings.

Yes Marquee is a better proposition with it's 4.5% returns on online spends
Bms is also there and lounge access is decent.
Offline and online forex is also decent.

Redemption options are pretty good too.

Did a quick comparison of this with Yes Marquee - my major expenses are offline - so will opt for this card over Marquee. Marquee only has 2.25% base reward rate for offline transactions. And from what I could see - offline groceries, insurance etc are clubbed in 'select category' with a reward rate of 1.25%. This is rather unbecoming of a card categorised under premium or super premium category.

Even if used only for offline spends, Emeralde Private can give 3.75% reward (with Rs 3000 EaseMyTrip voucher on 4lakh spends, which I will cross)

For folks with majorly online expenses and needing a premium card, marquee may make sense. But to be honest, even Rs 500/1000 annual fee cards give 5% percent cashback online. So, all in all, Marquee is decent - but I don't see anything special there. Not sure about your thought process though.

 

[rogerthat]

One thing about ICICI cards - they might be low on rewards (Emeralde Metal is not) but they are stable with few shocks and you get what you are promised. Can't say that about Yes or even HDFC for that matter. Let's not even talk about the bank that should not be named.

 

[pessimist_supreme]

Yup. The card is really good for offline spends. One more question.. What is the credit limit on your existing ICICI cards?

15L is the shared limit between Amazon Pay and ICICI Platinum

 

[anirban.choudhuryanirban.choudhury is verified member.]

Did a quick comparison of this with Yes Marquee - my major expenses are offline - so will opt for this card over Marquee. Marquee only has 2.25% base reward rate for offline transactions. And from what I could see - offline groceries, insurance etc are clubbed in 'select category' with a reward rate of 1.25%. This is rather unbecoming of a card categorised under premium or super premium category.

Even if used only for offline spends, Emeralde Private can give 3.75% reward (with Rs 3000 EaseMyTrip voucher on 4lakh spends, which I will cross)

For folks with majorly online expenses and needing a premium card, marquee may make sense. But to be honest, even Rs 500/1000 annual fee cards give 5% percent cashback online. So, all in all, Marquee is decent - but I don't see anything special there. Not sure about your thought process though.

Yup Marquee is higher rewarding in online spends at 4.5% and online forex for offline the RR decreases significantly.

Forex markup is at 1% compared to emeralde private's 2% .


This EMT/MMT vouchers are actually not valued at 1:1 , their is a potential loss of card discounts and accelerated bonuses.

If you feel for your spending pattern this card is regarding then it's good as at the end that only matter.

But in terms of rewards there are other low cost cards like atlas that gives a neat 5.3% just on base spends or amex gold Charge that can provide around 15-16% return for a meagre 72k spend in a year.

I have this card as an upgrade option over my emeralde since last few months in imobile, but after carefully analysis , the incremental value that it offers doesn't justify the exorbitant fees of over 14k , on top of that it misses out on an important non spend base benefits , that's dreamfolks card with unlimited spa access.

 

[pessimist_supreme]

Yup Marquee is higher rewarding in online spends at 4.5% and online forex for offline the RR decreases significantly.

Forex markup is at 1% compared to emeralde private's 2% .


This EMT/MMT vouchers are actually not valued at 1:1 , their is a potential loss of card discounts and accelerated bonuses.

If you feel for your spending pattern this card is regarding then it's good as at the end that only matter.

But in terms of rewards there are other low cost cards like atlas that gives a neat 5.3% just on base spends or amex gold Charge that can provide around 15-16% return for a meagre 72k spend in a year.

I have this card as an upgrade option over my emeralde since last few months in imobile, but after carefully analysis , the incremental value that it offers doesn't justify the exorbitant fees of over 14k , on top of that it misses out on an important non spend base benefits , that's dreamfolks card with unlimited spa access.

I understand your sentiment - but the point is Marquee is only better for online and forex spends. The reward redemption from Yes Bank's portal is again an opportunity loss if booked for flights/hotels, if I understood your point correctly.

I also have Amex MRCC, Gold charge and use them - but Amex is unreliable offline. Atlas is not useful for me if cannot use rewards for Indigo flights - which is a major expense for me throughout the year.

So as you said, I will take this card as it fits my offline spends - 3.75% just for offline is remarkable.

 

[anirban.choudhuryanirban.choudhury is verified member.]

I understand your sentiment - but the point is Marquee is only better for online and forex spends. The reward redemption from Yes Bank's portal is again an opportunity loss if booked for flights/hotels, if I understood your point correctly.

I also have Amex MRCC, Gold charge and use them - but Amex is unreliable offline. Atlas is not useful for me if cannot use rewards for Indigo flights - which is a major expense for me throughout the year.

So as you said, I will take this card as it fits my offline spends - 3.75% just for offline is remarkable.

Yes bank travel booking portal is actually quite good and flights are reasonably priced.

Atlas points can help you book Indigo flights also through the ITH way but that's OK if you want to only redeem for Indigo flights.

Amex is unreliable for offline spends , that's true.

My concern with emeralde private is that the high fees doesn't justify the 3% reward, even with milestone it's just 3.5% along with that neither the non spend benefits are something out of the box.

For such high gees card there has to be reward accelerated, multiple rrward redemption options or atleast an out of the box non spend based benefits.

 

[sourpai]

Absence of any sort of reward multiplier is the biggest downer for Emerald private

While you are stressing on offline spends, Infinia allows purchase of many brand vouchers useful in offline shopping. Reward rate practically goes above 10-15% in that case. Plus payzapp integration with Smartbuy portal is like a one click affair to purchase any voucher (no OTP / CVV). To me the best card for Indigo bookings is still Infinia

 

[pessimist_supreme]

Absence of any sort of reward multiplier is the biggest downer for Emerald private

While you are stressing on offline spends, Infinia allows purchase of many brand vouchers useful in offline shopping. Reward rate practically goes above 10-15% in that case. Plus payzapp integration with Smartbuy portal is like a one click affair to purchase any voucher (no OTP / CVV). To me the best card for Indigo bookings is still Infinia

Infinia is great no doubt - and I have occasionally used SmartBuy to buy some vouchers. But two thing it lacks for my use case, might be okay with others:
1. No movie/concert offers - this is needed
2. Even though it's possible to book Indigo flights on SmartBuy - it's not possible to book Indigo Flexi Plus tickets which enables fixed price for cancellations, date change till 4 days to the date of travel, free meal, free seat - all at a nominal extra charge. I have had to cancel some tickets worth 40-50k due to unavoidable circumstances, and cancellation fee charged was mere 4-5k - all remaining money was refunded. So can't imagine booking normal tickets. Others may be fine with it - as they say - our experiences define our choices.

 

[Animal]

Infinia is great no doubt - and I have occasionally used SmartBuy to buy some vouchers. But two thing it lacks for my use case, might be okay with others:
1. No movie/concert offers - this is needed
2. Even though it's possible to book Indigo flights on SmartBuy - it's not possible to book Indigo Flexi Plus tickets which enables fixed price for cancellations, date change till 4 days to the date of travel, free meal, free seat - all at a nominal extra charge. I have had to cancel some tickets worth 40-50k due to unavoidable circumstances, and cancellation fee charged is mere 4-5k - all remaining money is refunded. So can't imagine booking normal tickets. Others may be fine with it - as they say - our experiences define our choices.

You can buy cancellation cover from Godigit while booking. I booked a round trip flight for 2 and it costed total 1976(approx 500/pax).

 

[pessimist_supreme]

You can buy cancellation cover from Godigit while booking. I booked a round trip flight for 2 and it costed total 1976(approx 500/pax).

View attachment 57710

Like most things in life, this boils down to a tradeoff.

A. Higher rewards, more hassle: For someone willing to go through an 'insurance claim' - which this very likely will be (submitting proofs, bank statements, cancelled cheque etc, you get the drift) - to get refund for flight tickets, this might work.
B. Lower rewards, less hassle: Others might prefer the easier way out of a button click to get the refund.

Different people will chose different options - for now, I will go with B. Someone else will go with A. And both will be right!

 

[pessimist_supreme]

Received the card. Not sure whether it's co-related, but credit limit got revised to 18L from 15L. Let's hope this card delivers as per expectations 🙂

 

[PrinceHeart]

Received the card. Not sure whether it's co-related, but credit limit got revised to 18L from 15L. Let's hope this card delivers as per expectations 🙂
View attachment 58778

Upgrade from which cc ?