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.
• Reward points on transportation MCCs (4111, 4112, 4784, 4131)
• Capped at ₹20,000 per month
Earlier → uncapped earning
Now → monthly ceiling introduced
• Reward points depend on MCC mapping
This directly affects:
Metro users, frequent travellers, cab-heavy users.
• Lower earn rate + lower cap = double hit
• Reward points only up to ₹40,000 insurance spend
• MCCs covered: 5960, 6300, 6381, 6399
Earlier → higher or unclear cap
Now → clearly restricted
• Complimentary BookMyShow benefit removed
• Zero movie value going forward
• Only then BMS benefit active for next quarter
Earlier → automatic
Now → conditional
Dream11, MPL, Rummy Culture, Junglee Games
• MCC: 5816 (and future similar MCCs)
• Applies to:
Amazon Pay, Paytm, MobiKwik, Freecharge, OlaMoney
• MCC: 6540
Wallet rotation strategies → effectively killed.
Earlier → just reward cap
Now → actual penalty
For most ICICI cards → foreign spends just became expensive.
• New add-on cards issued on or after 15 Jan 2026
• ₹3,500 one-time fee
Luxury positioning → monetised.
₹100 → ₹150 per transaction
Another push away from offline bill payments.
Earlier flexibility removed
Important for people who convert spends casually into EMIs.
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.
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
• 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
• 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
• 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 ₹50,000Earlier → 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% |
🔴 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 chargesEarlier 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.
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