By Rajat Gaur
Updated On October 15, 2021

ICICI Bank Emeralde Credit Card is the most premium offering by the bank and is in direct competition with HDFC’s Infinia credit card. With this card, ICICI targets HNIs (High Net-Worth Individuals) who frequently go on business trips and don’t want to compromise with their lifestyle.

ICICI Bank Emeralde Credit Card offers exclusive benefits like a 24×7 concierge service (that provides assistance regarding hotel/restaurant reservations, flight bookings, car rentals), unlimited complimentary domestic and international airport lounge access, personal air accident insurance cover of Rs. 3 crore, etc. Keeping in mind the international traveling needs of its premium customers, ICICI charges a nominal foreign currency markup fee of 1.5% on foreign currency transactions and a zero cash advance fee on cash withdrawals from ATMs.

The card comes in two variants- the MasterCard variant and the American Express variant. One unique feature of ICICI Bank Emeralde Credit Card is that it allows you to choose between two membership plans- the monthly plan, where you have to pay a monthly fee of Rs. 1,000 and the annual plan with an annual membership fee of Rs. 12,000.

ICICI Bank Emeralde Credit Card

Best Suited For

Movies | Travel | Shopping |

Joining Fee

Rs. 1,000 (plus applicable taxes) for monthly plan, Rs. 12,000 (plus applicable taxes) for annual plan

Reward Type

Reward Points |

Product Details

  • Dining voucher worth Rs. 7,500 from Trident hotels on your birthday redeemable at any of the Trident hotels (applicable only on the American Express variant).
  • Complimentary unlimited international lounge access under Dreamfolks membership Program.
  • Complimentary unlimited domestic lounge access under the MasterCard/AmEx domestic lounge program.
  • Complimentary unlimited domestic airport spa access.
  • Up to Rs. 750 off on purchase of second ticket onwards (up to max 4 tickets/month) on BookMyShow for all movie and non-movie ticket purchases.
  • Complimentary golf round/lesson on every Rs. 50,000 spent on the card in the previous month (up to max 4 rounds/lessons per month).
  • Nominal Foreign Currency Markup of 1.5%.
  • Lower APR of 1.99% on ATM cash withdrawals.
  • Zero cash withdrawal and late payment fee.
  • Up to 15% discount on gym membership (only on AmEx variant).
  • Reversal of cancellation charges (up to Rs. 12,000) on a max 2 transactions/year for flight/hotel/movie ticket booking.
  • Choice between monthly and annual membership plans.
  • 24×7 concierge service offering assistance for hotel/restaurant reservations, flight bookings, movie ticket bookings, and many other services.
  • 4 PAYBACK Points for every Rs. 100 spent on all retail transactions, except spends on fuel, utilities and insurance categories.
  • 1 PAYBACK Point for every Rs. 100 spent on utilities and insurance categories.
  • Minimum 15% discount at partner restaurants under the Culinary Treats dining program.
  • 1% fuel surcharge waived on all fuel purchases.
  • Air accident cover worth Rs. 3 crore and many other travel-related insurance benefits.

Rewards and Benefits

Welcome Benefits

N/A

Movie & Dining

4 complimentary movie/events tickets from BookMyShow every month, Rs. 750 off on purchases of second movie (or non-movie) ticket onwards on BookMyShow (for up to 4 tickets per month), no cancellation charge on movie ticket cancellation (max benefit of Rs. 12,000 per year), minimum 15% discount at partner restaurants under the Culinary Treats dining program.

 

Rewards Rate

4 PAYBACK points on every Rs. 100 spent on all transactions (except fuel, utilities and insurance categories) and 1 PAYBACK point on every Rs. 100 spent on utilities and insurance

Reward Redemption

PAYBACK reward points redeemable for movie and travel vouchers, purchases of mobile, appliances and many other products on payback.in. 1 PAYBACK Point = Rs. 0.25

Travel

Complimentary unlimited domestic and international lounge access, domestic airport spa access through Dreamfolks Membership, no charge (waived up to a max of Rs. 12,000) on cancellation of flight/hotel/movie ticket bookings up to max two cancellations every year

Golf

Complimentary round/lesson of golf each month for every Rs. 50,000 spent in the previous month (max 4/month)

Domestic Lounge Access

Complimentary unlimited domestic airport lounge access under the MasterCard/American Express lounge program

International Lounge Access

Complimentary unlimited international airport lounge access under the Dreamfolks program membership

Insurance Benefits

Credit Shield insurance worth Rs. 50,000, personal air accident cover worth Rs. 3 crore and many other air travel-related insurance benefits (as illustrated later in the article)

Zero Liability Protection

Lost card liability protection worth Rs. 50,000 applicable from 2 days before reporting and till 7 days after reporting the loss of card.

Fees & Charges

Joining Fee

Rs. 1,000 (plus applicable taxes) for monthly plan, Rs. 12,000 (plus applicable taxes) for annual plan

Renewal Fee

Rs. 1,000 (plus applicable taxes) for monthly plan, Rs. 12,000 (plus applicable taxes) for annual plan

Spend based Waiver

Monthly fee reversed on expenditure of Rs. 1,00,000 in the previous month, annual fee reversed on expenditure of Rs. 15,00,000 in the anniversary year.

Rewards Redemption Fee

Rs. 99 (plus applicable taxes) per redemption request

Rewards Redemption Fee

Rs. 99 (plus applicable taxes) per redemption request

Foreign Currency Markup

1.5% of the transaction amount

Interest Rates

3.40% per month (or 40.80% annually)

Fuel Surcharge

1% fuel surcharge waived at all fuel stations across India

Cash Advance Charge

Nil

Add-on Card Fee

Nil

ICICI Bank Emeralde Credit Card Rewards:

Just like most other ICICI credit cards, you earn Reward Points as PAYBACK Points with this card as well. You earn:

  • 4 PAYBACK Points on every ₹100 spent on all retail transactions except fuel, utilities and insurance.
  • 1 PAYBACK Point on every ₹100 spent on utilities and insurance categories.

ICICI Bank Emeralde Credit Card Reward Redemption:

  • The PAYBACK points earned can be redeemed for a variety of expenditure categories including movies, travel (hotel/flight bookings), gift vouchers, lifestyle products, mobiles, etc on the PAYBACK reward redemption portal.
  • A reward redemption fee of Rs. 99 is chargeable for every reward redemption request.

ICICI Bank Emeralde Credit Card Spends Based Waiver:

  • Monthly renewal fee waived if Rs. 1,00,000 were spent in the previous month.
  • Annual renewal fee waived on expenditure of Rs. 15,00,000 in the card anniversary year. The joining fee is reversed if the spends threshold is reached in the first anniversary year.

ICICI Bank Emeralde Credit Card Travel Benefits:

  • Unlimited complimentary domestic and international airport lounge access under AmEx/MasterCard lounge program and the Dreamfolks membership Program.
  • Unlimited complimentary domestic airport spa access through Dreamflolks membership.
  • Air travel insurance plans including a personal air accident cover worth Rs. 3 crore.
  • A nominal foreign currency mark-up fee of 1.5% on international transactions.
  • No cancellation charge on hotel/flight bookings (up to Rs. 12,000) for a maximum of 2 transactions per year.

ICICI Bank Emeralde Credit Card Dining and Movie Benefits:

  • Minimum 15% discount on dining bills at participating restaurants under the Culinary Treats program.
  • No cancellation charge on movie ticket bookings (max benefit capped at Rs. 12,000 per year).
  • 4 complimentary movie/events tickets every month from BookMyShow.
  • Rs. 750 off second movie/non-movie ticket onwards on BookMyShow for a maximum of 4 tickets in a month.

Concierge Service:

Being a premium credit card, it offers you a 24×7 concierge service for assistance regarding-

  • Restaurant and hotel reservations.
  • Flight referral and reservation.
  • Flowers and gifts.
  • Car rentals.
  • Booking movie tickets.

Apart from these, you also get Medical Concierge privileges, under which, in case you need to be moved to a place for appropriate medical attention, ICICI’s iAssist concierge will help you with the same. The concierge will get you admitted to the required hospital and put you in touch with your doctors.

It should be noted that all these concierge services are available only in New Delhi, Mumbai, Bengaluru and Chennai.

Golf Privilege:

You get 1 complimentary round/lesson of golf each month for every Rs. 50,000 spent using the card in the previous month, The maximum number of golf rounds/lessons is capped at 4 rounds/lessons per month.

ICICI Bank Emeralde Credit Card Insurance Benefits:

You get travel-related insurance benefits with this card as illustrated in the chart below:

Insurance Type Cover
Personal Air Accident Rs. 3 crore
Baggage insurance Up to Rs. 25,000
Loss of checked-in baggage USD 1,200
Delay in receipt of checked-in baggage USD 300 in excess of 12 hours
Missing flight due to trans-shipment USD 300
Loss of travel documents USD 500
Delay in flight USD 250 in excess of 12 hours
Plane hijacking USD 250 per hour up to a max of 12 hours

All these insurance covers are applicable only for international travel (not for domestic travel).

Apart from these travel-related insurance benefits, you also get a Credit Shield cover worth Rs. 50,000, which covers your liability in case of loss of card from 2 days prior to 7 days post reporting the loss of card.

Low Foreign Currency Mark-up fee on ICICI Bank Emeralde Credit Card:

Since it is a premium credit card, the foreign currency mark-up fee for this card is significantly lower than that for other credit cards. You pay a mark-up fee of only 1.5% of the transaction amount for international transactions.

Cash Withdrawal:

ICICI charges no extra fee when you withdraw cash from ATMs with your ICICI Bank Emeralde Credit Card. The interest rate charged on the withdrawn amount is also lower than that for most other credit cards- 1.99% per month.

Fuel Surcharge:

The fuel surcharge is waived at all fuel stations across India.

ICICI Bank Emeralde Credit Card Eligibility:

Since it is a premium credit card, it has strict eligibility criteria. Salaried applicants must have a minimum monthly income of Rs. 3,00,000, and self-employed applicants must have filed an income tax return of Rs. 30,00,000 in the previous year.

How to apply for ICICI Bank Emeralde Credit Card:

You can apply for the ICICI Bank Emeralde Credit Card by visiting the card’s page on ICICI’s website and submitting the required documents. You will need an identity/address proof for KYC and a proof of income like salary slips or ITR.

Customer Care:

ICICI bank offers 24×7 customer care support to its credit card customers over the phone and via email. You can contact ICICI’s call center at 18601207777 or drop them an email at [email protected] to report the loss of card or for any other issue. In case, the issue is still unresolved, you can contact their higher-ups at [email protected].

Conclusion:

Considering all the benefits that this card offers, it is probably one of the best credit cards in the premium segment and offers tough competition to cards like HDFC Infinia and Standard Chartered Ultimate card. The American Express version of the card certainly has an upper hand as it offers a few additional features like a Trident Hotels voucher worth Rs. 7,500 every year on your birthday, 15% discount on a gym membership (Anytime Fitness), and complimentary in-flight and airport wifi access. Still, it’s a great deal for high net-worth business persons who frequently fly overseas on business trips. What do you think of this premium offering by ICICI? Do let us know in the comments.

Note: Since both American Express and Mastercard is currently not onboarding new customers (due to RBI restrictions), ICICI Bank is currently not issuing this card. We would update once ICICI Bank launches the Visa variant or RBI removes it’s ban on MasterCard and American Express.

FAQs:

The PAYBACK points are valid for a period of 3 years from the date of accumulation.

PAYBACK points can be redeemed at payback.in for for purchasing products, e-vouchers, mobile recharges, etc.

Yes, the fuel surcharge is waived at all fuel stations across India with your ICICI Bank Emeralde Credit Card.

Culinary Treats is a discount program under which you get a minimum of 15% discount on your dining bills at participating restaurants. This program is complimentary with ICICI Bank Emeralde Credit Card.

No, the concierge service is available only in New Delhi, Mumbai, Bengaluru and Chennai.

Since both MasterCard and American Express are not allowed to issue new credit cards as per RBI instructions, ICICI Bank is currently not issuing the Emeralde credit card.

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