The ICICI Bank Emeralde Private Metal Credit Card is the bank’s most premium credit card and a significant upgrade over the older Emeralde PVC variant. While ICICI Bank has always had a strong presence in the credit card market, its premium offerings never quite matched the overall value of cards like HDFC Infinia or Diners Club Black Metal. The Emeralde Private Metal changes that with a much stronger rewards program, unlimited airport lounge access, golf privileges, premium lifestyle memberships, and accelerated rewards through ICICI iShop.
What makes the card stand out is its balanced approach. It combines rewarding everyday spends with premium travel and lifestyle benefits, while still earning reward points on categories like insurance, education, and utility payments within the applicable limits. Although it doesn’t offer many airline or hotel transfer partners, its reward redemption options are simple and offer good value for flights, hotels, and gift vouchers.
Since the Emeralde Private Metal is available only by invitation, getting one isn’t easy. But if you’re eligible, it is undoubtedly one of the strongest premium credit cards available in India today. In this review, we take a closer look at its rewards, benefits, fees, and drawbacks to help you decide whether it’s worth adding to your wallet.
Invite-Only Eligibility for the ICICI Bank Emeralde Private Metal Credit Card
The ICICI Bank Emeralde Private Metal Credit Card is available only by invitation. While you can express your interest through your Relationship Manager or local ICICI Bank branch, the final approval depends on the bank’s internal assessment.
Based on recent approvals shared by cardholders, the bank now looks beyond just your income and places significant emphasis on your overall relationship with ICICI Bank. Customers who have successfully received the card typically meet several of the following criteria:
- Monthly in-hand salary of around ₹3 lakh to ₹5 lakh or higher.
- An ICICI Wealth, Wealth Select, or Private Banking relationship.
- A salary account with ICICI Bank, preferably with regular high-value salary credits.
- Existing investments, fixed deposits, or wealth management assets with the bank.
- A home loan, business loan, or other profitable banking relationship with ICICI Bank.
- A strong credit profile and, in many cases, an existing high-limit ICICI credit card.
Many applicants have also reported that Relationship Managers often recommend building a deeper banking relationship before submitting the request. This could include moving your salary account to ICICI Bank or maintaining investments and deposits with the bank to strengthen your profile.
It’s worth noting that there is no guaranteed route to approval. Some customers have received the card with relatively modest banking relationships, while others with higher incomes have been declined. In the end, eligibility is determined by ICICI Bank’s internal criteria and the recommendation of your Relationship Manager.
ICICI Bank Emeralde Private Metal Credit Card: Fees
| Fee Type | Details |
|---|---|
| Joining Fee | ₹12,499 + GST |
| Welcome Benefits | 12,500 Reward Points, Taj Epicure Plus Membership and EazyDiner Prime Membership |
| Annual Fee | ₹12,499 + GST |
| Renewal Benefits | 12,500 Reward Points |
| Annual Fee Waiver | On annual spends of ₹10 lakh |
For a premium credit card, the fee structure is quite compelling. Although the joining and annual fee is ₹12,499 + GST, ICICI Bank offsets a significant portion of the cost through generous welcome and renewal benefits.
On joining, you receive 12,500 Reward Points along with complimentary Taj Epicure Plus and EazyDiner Prime memberships. Since 12,500 Reward Points can be redeemed at up to ₹1 per point for eligible travel bookings and select vouchers, the reward points alone can offset almost the entire annual fee if redeemed wisely. The Taj Epicure Plus membership further enhances the value with premium dining privileges and a complimentary stay voucher.
The annual fee is also waived on spending ₹10 lakh in a membership year. Even if you don’t qualify for the waiver, receiving another 12,500 Reward Points on renewal helps keep the effective cost of holding the card relatively low. Overall, the Emeralde Private Metal has one of the strongest fee-to-benefit propositions among premium credit cards in India.
ICICI Bank Emeralde Private Metal Credit Card Rewards
| Spend Category | Rewards | Reward Cap |
|---|---|---|
| Retail Spends | 6 Reward Points per ₹200 (up to ~3% value) | No cap |
| Grocery | 6 Reward Points per ₹200 | 1000 Reward Points per statement cycle (≈₹33,333 spend) |
| Education | 6 Reward Points per ₹200 | 1000 Reward Points per statement cycle (≈₹33,333 spend) |
| Utilities | 6 Reward Points per ₹200 | 1000 Reward Points per statement cycle (≈₹33,333 spend) |
| Insurance | 6 Reward Points per ₹200 | 5000 Reward Points per statement cycle (≈₹1.67 lakh spend) |
| Government Payments, Rent, Tax Payments, Fuel, Property Management & Third-party Wallet Loads | No Reward Points | — |
The ICICI Bank Emeralde Private Metal Credit Card follows a straightforward rewards structure. Every eligible retail spend earns 6 Reward Points for every ₹200 spent, which translates to a reward rate of up to 3% when redeemed for flights, hotels, or eligible vouchers.
One of the biggest positives is that the card continues to reward spends on insurance, utilities, groceries, and education. While these categories have statement-wise reward caps, the limits are generous enough that most cardholders are unlikely to hit them during regular use. The insurance cap, in particular, is among the highest offered by a premium credit card.
Do keep in mind that government payments, rent, tax payments, fuel, property management transactions, and third-party wallet loads do not earn Reward Points.
Overall, ICICI has kept the rewards program simple. You don’t have to track multiple spending slabs or activate bonus categories to earn a good return. If your spending is spread across different categories instead of being concentrated on travel or shopping, the Emeralde Private Metal is one of the more rewarding premium credit cards available today.
ICICI Bank Emeralde Private Metal Credit Card Milestone Benefits
- ₹3000 EaseMyTrip Air Travel Gift Voucher on annual spends of ₹4 lakh
- Another ₹3000 EaseMyTrip Air Travel Gift Voucher on annual spends of ₹8 lakh
These milestone benefits effectively add another 0.75% in value on ₹8 lakh of annual spending. Combined with the card’s base reward rate of up to 3%, the overall return can increase to approximately 3.75% for users who achieve the ₹8 lakh milestone. This makes the Emeralde Private Metal one of the more rewarding premium credit cards for everyday spending, especially when you factor in its travel and lifestyle benefits.
ICICI Bank Emeralde Private Metal Credit Card Airport Lounge Access
| Lounge Benefit | Access |
|---|---|
| Domestic Airport Lounge Access | Unlimited |
| International Airport Lounge Access | Unlimited via Priority Pass |
Airport lounge access is one of the strongest benefits of the ICICI Bank Emeralde Private Metal Credit Card. The card offers unlimited access to participating domestic airport lounges across India, while international lounge access is available through the complimentary Priority Pass membership.
The best part is that this benefit isn’t limited to the primary cardholder. Add-on cardholders also receive unlimited domestic and international lounge access, making the card especially rewarding for couples and families who travel frequently.
Unlike many credit cards that require quarterly spending to unlock lounge visits, the Emeralde Private Metal offers truly unlimited access without any spend-based eligibility, making it one of the better lounge cards in its segment.
Other Benefits of the ICICI Bank Emeralde Private Metal Credit Card
- EazyDiner Prime Membership: Receive a complimentary EazyDiner Prime Membership as both a welcome and renewal benefit. Enjoy dining discounts and exclusive offers at participating restaurants across India.
- BookMyShow Buy One Get One Offer: Get up to ₹750 off on the second ticket when you book movie, sports, theatre, concert, or event tickets through BookMyShow. The offer can be availed twice every month.
- Unlimited Golf Benefits: Enjoy unlimited complimentary golf rounds and golf lessons every month at participating golf courses in India.
- 2% Forex Markup: International transactions attract a 2% forex markup plus applicable GST. While not the lowest in the segment, it’s reasonable for occasional overseas spending.
- Fuel Surcharge Waiver: Get a 1% fuel surcharge waiver at petrol pumps across India on fuel transactions up to ₹4000, with a maximum waiver of ₹1000 per calendar month.
The ICICI Emeralde Private Metal BookMyShow offer is one of the better entertainment benefits among premium credit cards. If you regularly book premium movie seats or attend events, you can easily recover a significant portion of the card’s annual fee over the course of a year.
ICICI iShop: Earn Up to 36% Reward Rate
The launch of ICICI iShop has transformed the ICICI Bank Emeralde Private Metal Credit Card. Instead of earning the standard reward rate on all spends, you can earn accelerated Reward Points on flights, hotels, and eligible shopping vouchers booked through iShop.
| Spend Type | Effective Reward Rate |
|---|---|
| Regular Retail Spends | Up to 3% |
| Flights & Eligible Gift Vouchers via iShop | Up to 18% (6X Rewards) |
| Hotel Bookings via iShop | Up to 36% (12X Rewards) |
These reward rates put the Emeralde Private Metal in the same league as the best premium credit cards for travel bookings. If you regularly book flights or hotels through iShop, the accelerated rewards can add substantial value over the card’s standard reward rate.
However, ICICI has quietly revised the rewards on several popular vouchers. Amazon Pay, Swiggy, Kalyan Jewellers, Tanishq, and Reliance Jewels vouchers no longer earn accelerated 6X Reward Points and now fetch only the base reward rate. In addition, jewellery vouchers can no longer be purchased using an ICICI credit card.
Another important change is the introduction of higher convenience charges on certain vouchers. Amazon Pay, Amazon Shopping, Flipkart, and Swiggy vouchers now attract a 3.5% convenience fee plus GST (effective ~4.13%). Since Amazon Pay and Swiggy vouchers also no longer earn accelerated rewards, buying these vouchers through iShop generally doesn’t make much sense anymore.
ICICI iShop Bonus Reward Points Cap
ICICI Bank limits the accelerated earning to 18,000 bonus Reward Points per calendar month. The cap applies only to the bonus Reward Points earned through iShop, while the base Reward Points continue to be earned separately.
| Bonus Reward Points Cap | Spend Required (6X Categories) | Spend Required (12X Categories) |
|---|---|---|
| 18,000 Bonus Reward Points | ₹1.2 lakh | ₹54,600 |
Overall, iShop remains one of the biggest strengths of the Emeralde Private Metal. While a few high-volume vouchers have been devalued, the platform continues to offer excellent value on flight bookings, hotel bookings, and most eligible shopping vouchers.
How to Redeem ICICI Bank Emeralde Private Metal Reward Points
The ICICI Bank Emeralde Private Metal Credit Card offers multiple redemption options, but not all of them provide the same value. If you want to maximize your rewards, it’s important to choose the right redemption method.
| Redemption Option | Value of 1 Reward Point |
|---|---|
| Flight Bookings | ₹1 |
| Hotel Bookings | ₹1 |
| Eligible Premium Brand Vouchers | ₹1 |
| Air India Maharaja Club | 1 Reward Point = 1 Maharaja Point |
| Rewards Catalogue | ₹0.60 |
| Statement Credit | ₹0.40 |
The best value comes from redeeming Reward Points for flight bookings, hotel bookings, eligible premium brand vouchers, or Air India Maharaja Club transfers. These options offer a value of up to ₹1 per Reward Point, allowing you to maximize the card’s reward rate.
Flight bookings can be paid entirely using Reward Points, while hotel bookings allow up to 90% of the booking value to be paid using points, with the remaining amount charged to your credit card. The addition of Air India Maharaja Club as a transfer partner has also made the rewards program more attractive for frequent Air India flyers.
On the other hand, redeeming Reward Points for merchandise from the rewards catalogue reduces the value to 60 paise per point, while statement credit offers just 40 paise per point. Unless you need the flexibility, these redemption options don’t provide the best value.
We recommend redeeming Reward Points for travel bookings, Air India Maharaja Club transfers, or ₹1-value premium vouchers whenever possible. This is where the ICICI Bank Emeralde Private Metal Credit Card delivers its strongest value and helps you get the most out of every Reward Point.
Final Thoughts
The ICICI Bank Emeralde Private Metal Credit Card has changed our perception of premium credit cards from ICICI Bank. Unlike the older Emeralde card, this one delivers where it matters most. The rewards are competitive, the travel benefits are genuinely useful, and the overall package feels well thought out.
ICICI iShop has made a big difference to the card’s value, especially for users who regularly book flights and hotels. While a few gift vouchers have been devalued and convenience fees have been introduced on some brands, the platform still offers excellent value for travel bookings.
The addition of Air India Maharaja Club as a transfer partner is another welcome move. We hope ICICI expands this list over time, but even today, the card offers enough flexibility for most users.
If you’re eligible for an invitation, the ICICI Bank Emeralde Private Metal Credit Card is easy to recommend. It offers a strong mix of rewards, travel benefits, and lifestyle privileges, and has earned its place among the best premium credit cards in India.
Frequently Asked Questions
What is the joining and annual fee for the ICICI Bank Emeralde Private Metal Credit Card?
The ICICI Bank Emeralde Private Metal Credit Card has a joining fee of ₹12,499 + GST and an annual fee of ₹12,499 + GST. The annual fee is waived on annual spends of ₹10 lakh or more.
How can I get the ICICI Bank Emeralde Private Metal Credit Card?
The card is available by invitation only. You can register your interest through your ICICI Bank Relationship Manager or branch, but the final approval depends on the bank’s internal eligibility criteria.
What is the reward rate on the ICICI Bank Emeralde Private Metal Credit Card?
The card earns 6 Reward Points for every ₹200 spent on eligible retail transactions. When redeemed for flights, hotels or eligible premium vouchers, this translates to an effective reward rate of up to 3%. Through ICICI iShop, eligible flight bookings can earn up to 18% rewards, while hotel bookings can earn up to 36% rewards.
Does the ICICI Bank Emeralde Private Metal Credit Card offer unlimited airport lounge access?
Yes. The card offers unlimited domestic airport lounge access and unlimited international lounge access through Priority Pass for both primary and eligible add-on cardholders.
Can I transfer Reward Points to Air India Maharaja Club?
Yes. Reward Points can be transferred to Air India Maharaja Club at a 1:1 ratio, giving cardholders another high-value redemption option.
Does the ICICI Bank Emeralde Private Metal Credit Card earn rewards on insurance and utility payments?
Yes. Insurance, grocery, utility and education spends earn Reward Points, subject to statement-wise caps. Government payments, rent, fuel, tax payments, property management transactions and third-party wallet loads do not earn Reward Points.
Is the ICICI Bank Emeralde Private Metal Credit Card worth it?
If you’re eligible for an invitation, the ICICI Bank Emeralde Private Metal Credit Card is one of the best premium credit cards in India. It offers a strong rewards programme, excellent travel benefits, unlimited lounge access, premium lifestyle memberships and high-value reward redemptions.
ICICI Bank Emeralde Private Metal Credit Card
The eligibility has now increased to 5L salary credit per month and needs approval of state head.
💳 *EPMCC* 💳
Team, Please find the revised norms for fresh issuance of Emeralde Private Metal Credit Card,
These changes are with immediate effect
✓ Revised Required income is *5 Lacs net per month*
✓ Positive PPOP of 50k
✓ Existing IBank CC limit of 6 Lacs
✓ SH approval in iLENS
Drop all Amex cards from your list!
The major drawback I have been facing using Amex is its reducing footprint!
Can’t use it for major big ticket spends like School Fees / Hospital Bills / Major Shopping stores and even Intermiles / Cred have stopped Amex as a mode of payment.
And those who do have Amex accepted stickers only tend to have 1-2 Amex machines which invariably are “not working”.
I don’t blame the merchants.. its the huge merchant fees that Amex charges that make them avoid Amex… but then what justifies the Amex Credit Card fees when we can’t use it at places where we can normally use any other Card?
They have been giving me annual fee waivers over the years while accepting their limited coverage, but that still doesn’t justify having a card just for decoration in my wallet that can’t be used.
Tata Neu Infinity HDFC Bank Rupay card should be in the list, especially if you get it LTF or FYF. 1.5% cashback on UPI merchant payments. Unlimited 5% plus extra 5% NeuCoins on Tata brands, it’s worth it just for my Big Basket spends :-). I also have Airtel Axis bank card which also provides 10% cashback on BigBasket but the amount is capped.
Yes, this post needs a mid-year refresh 🙂
I think SBI Vistara PRIME card deserves a mention over Axis Vistara Signature. The SBI one offers PP.
Yes, will be updating this soon with revised list of cards.
Think the SCB Super Value Tytanium should be in in the list of fuel cards. Unlike SBI, the SCB card can be used with all providers, HPCL, IOC or BPCL… The capping is an issue, still decent…
Following policy changes announced by Standard Chartered Bank will be instrumental in SCB ULTIMATE(ly) losing edge over its competition.
Customers who have been loyal to SCB Ultimate being consistent in delivering its promised 3.3% returns without devaluation (for this many years ), irrespective of expenses would surely feel the pain.
Moreover, the annual renewal cost of Rs. 5000/- + 18% GST and fewer GVs in Reward Points Redemption Options at a cost of Rs. 99 + 18% GST will additionally bring down the “Reward Rate” value proposition.
SCB Ultimate would surely end up as a CASE STUDY for management students on how a stable product can be KILLED overnight, just by copying and pasting policies from competition, without realizing their end effects. Including Supermarkets in the list of impacted transactions is testimony of reckless product management.
Effective 2 April, 2023:
1) Transactions on Utilities, Supermarkets, Insurance, Property Management, Schools & Government payments will now earn 3 reward points on every INR 150 spent.
(Reward Rate Reduced by 1.3% to 2% instead of 3.3%)
2) No reward points will be earned on Fuel transactions. However, you will now enjoy a surcharge waiver of 1% on fuel spends. Fuel surcharge waiver amount will be capped at INR 1000 per month.
(Reward Rate Reduced by 2.3% to 1% instead of 3.3%)
3) You will be charged a 1% processing fee (plus applicable taxes) for rental payments made using Standard Chartered credit cards.
(Reward Rate Reduced by 1.18% to 2.12% instead of 3.3%)
Which card provide best reward for 10L+ of insurance spends per year ? I currently use SBI cashback card for it
You may need to look into milestone cards like Vistara or Platinum Travel.
Thumbs up
Very nice illustration… I think….Sbi cashback will make flipkart axis and amazon icici useless..
Can you tell me best credit card for utility payments and insurance premium payments.
The best option is to use Amazon Pay for these cases. We can buy Amazon Pay GV at discount from Smartbuy and Grab Deals.
I have been using SCB Ultimate and Axis Magnus for almost 5 years. SC is the most uncomplicated card. The entire process of RP on spend is to confuse the user. RP can be just 20 Paise in some cases and can be 1 Rupee in others. As a CC user, its almost impossible to keep track of conversion ratio. From that perspective, SC makes it extremely easy to calculate. If you are spending 12 Lac a year on card ( school fees+insurance+ others), you straight away get 40K vouchers spread across categories. I end up taking Big Basket vouchers and that takes care of lot of monthly spends. Now, 40k vouchers is worth 60K gross salary. The issue with SC card is almost zero travel benefits. You just get lounge access and the quality of lounges has ben going down now and the lounges in general are now over crowded. If you are frequent flyer( avg 1 trip per month), the concierge service/ meet and greet is the most important one. Thats where Axis Magnus scores ahead of lot of other cards. Axis Vistara vouchers are a waste. In most of the cases, the vouchers can not be used because free seats/award seats are not available. All in all, CCs are best for heavy spenders( 15Lac-18 Lac per year) to truly enjoy rewards. Else, it serves just the credit benefit.
Am totally surprised why not in 2023 axis atlas can you describe and elaborate please
Atlas is a good for specific use cases. If it is about Miles, Magnus and Reserve can rack them up a whole lot faster with Grab Deals and Gyftr.
You have mentioned there are other redemption options other than Taj Vouchers on Amex Travel Platinum, what are those? Also is it possible to get the annual fees waived for this card?
The other option is Flipkart vouchers but at a reduced value for each MR point. All details including fee waiver are mentioned in the detailed review linked in the list above.
Thanks for the post.
I think below cards shouldn’t be in this list in 2023:
– SBI SimplyClick //except 10% very hard to reach 2L, if Cashback present
– SC Smart //no use when one has Ace or Cashback.
– HDFC Regalia, DCB & Privilege //less usage with Magnus and travel cards
– Axis Select & Flipkart //least benefits among Axis cards
Considering better reward rates and benefits in other cards these do not serve any purpose nowadays.
You can add the below cards, if requirement satisfies:
– IDFC Wealth : Better lounge support compared to Regalia or Privilege.
– Axis Myzone : For Select Swiggy alternative and LTF most cases.
– AU LIT : If used properly, it provides more cashback.
Ignored 10% cards because in that case we have to list all bank cards, and considering if person hold one of these cards then will other card in this list serve any purpose.
I’m thinking that best cards means those cards should be in our wallet, no matter (this require frequent edits in this post according to changes in that bank).
Hi Phani. Thank you for going through the list. Gave some thought while including some cards in this list. Retaining the above cards for below reasons but may be will have a look later to reduce the list a bit.
– SimplyCLICK only for taking advantage of sales. Cashback card is still quite hard to get for most people and it will not help during sale season.
– Agree on SC Smart. No major use for now with other cards. Will remove this one.
– Regalia, DCB and Privilege are all there for one reason – future upgrade to Infinia or may be the next one. Expecting HDFC Bank to bounce back soon.
– Select – only for its partner offers
– FK Axis – Still a good cashback card. Its LTF for many and gives 1.5% on offline spends compared to Cashback card.
– IDFC Wealth – Yes, a good card for LTF. I will add this one as it makes sense.
– MyZone – Good only if LTF which comes up now and then.
– AU LIT – Find it rather complicated. We need to spend and optimize quite a bit on that. Would rather prefer taking a super premium card with that fee. But, will add under Worthy Mentions section.
Thank you again for all the feedback. It helps. 🙂