Emeralde Private Metal Credit Card

The catch: most of the value runs through iShop

Emeralde Private Metal, or EPM, earns 6 reward points per ₹200. That is 3% only if you redeem at ₹1 a point, and users say the reliable way to get ₹1 is ICICI's own iShop portal, on flights, hotels and select vouchers. Statement-credit redemption is capped, and our record does not state its value. So the card is excellent for someone happy to live inside iShop, and ordinary for someone who wants points to go anywhere. There are no airline or hotel transfer partners in our data, and users report none.

Why is it still the ICICI card Reddit rates highest? Because the fee nearly pays for itself, the lounges are unlimited, and the base rate is 3% at ₹1 a point.

This page is EPM (₹12,499). It is not the plastic ICICI Emeralde (₹12,000) or the Emirates Emeralde Skywards card. An in-app "Emeralde" offer is often the plastic card, so check the exact name.

12,500 points against a ₹12,499 fee

The joining and annual fee is ₹12,499 + GST, about ₹14,749 with tax. Pay it and you get 12,500 reward points. Redeemed at ₹1 on iShop, those cover the base fee, so your real cost is the GST of about ₹2,250. Spend ₹10 lakh in the preceding year and the fee is reversed anyway.

What you get for that:

• Unlimited domestic and international lounge access, and unlimited golf.
• BookMyShow buy one get one, up to ₹750 off, twice a month.
• EazyDiner Prime and a one-year Taj Epicure membership.
• A 2% forex markup and travel cancellation cover up to ₹12,000 a year.

What ₹1 lakh a month earns

At the base rate, ₹1 lakh of eligible spend earns 3,000 points. Over a year that is 36,000 points, or ₹36,000 at ₹1 each on iShop. At ₹12 lakh a year you also cross the ₹10 lakh line that reverses the fee.

The iShop accelerators add more: 6X on flights and vouchers and 12X on hotels. Holders describe hotel bookings as the best lane. These multipliers carry daily and monthly caps that ICICI does not make easy to find, so check your remaining limit before a big booking. Fuel, tax, rent and wallet loads earn nothing. Insurance earns points up to a category cap that our data does not confirm.

Devaluations holders are watching

The 2026 threads are less cheerful than the 2025 ones. Users report Amazon Pay and Swiggy vouchers being removed or devalued on iShop, and one February 2026 post complains that ICICI is "micromanaging rewards" on a card sold against Infinia. Users also report a ₹3,500 fee on add-on cards, which hurts the family-lounge case. A few holders say accelerated points did not post correctly; keep booking confirmations and raise a complaint with transaction details.

Getting invited

EPM is invite-led. Users describe the same route: a high income or a large ICICI relationship value, and persistent follow-up with a Relationship Manager. One user says their RM quoted a take-home of ₹5.5 lakh a month; treat that as one report, not a rule. If you hold plastic Emeralde or Sapphiro, ask your RM about an upgrade and confirm the product name in writing.

Is EPM the right ICICI card for you?

Take it if ICICI invites you, you redeem on iShop, and you want unlimited lounges for the family. Look elsewhere if points transfers matter to you; users who can get it prefer HDFC Infinia for that, and many hold both.

Credit Card Information Compiled by: Abhijeet Kumar | Reviewed by: Anmol Ratan Sachdeva