The Emeralde credit card comes in two fee options for you to choose from: Monthly/Annually. Here is the fee structure:
Monthly membership Fee
Monthly membership Fee Waiver
Spend Rs.1L in previous month
Joining / Annual Fee
Joining / Annual Fee Waiver
Spend Rs. 15L in the card anniversary year
Annual plan is the best in my opinion for most card holders. Yet, monthly plan would still fit in if you intend to do regular spends on the card.
Also, its given as first year free for select individuals both as an upgrade and also as a fresh card, based on the profile.
You can choose only one between the two. If you plan to take this card, you should probably be taking the Amex variant because both the Da Milano & Trident dining voucher comes only with the Amex variant.
You can also change the variant to the other just incase if you took the wrong one by mistake.
However switching the variant seems to be a problem for some users at the moment (as of July 2020).
4 PAYBACK Points on every ₹100 spent, except fuel (1% Value)
1 PAYBACK Point on every ₹100 spent on utilities and insurance categories (0.25% Value)
This is the most disappointing part of this card – POOR reward Rate on regular spends. So high spenders >15L might need to switch to other cards.
But the good thing about Payback rewards is that you can convert the points to cash credit on statement.
Moreover, you can expect decent spend based offers on the Amex variants occasionally that will raise the overall reward rate a bit.
Spend 2L to get Rs.5,000 worth of Da Milano voucher. [Amex Variant only]
Decent option. I was able to redeem it at Da Milano outlet at Mumbai Airport T2 – Domestic departures.
Dining voucher worth Rs.7,500 from Trident Hotels. [Amex Variant only]
Nice value again. Yet, I wish they had given Marriott Dining voucher or maybe Dineout voucher instead.
You get dining voucher not only for the 1st year, but also for the remaining period, as long as you hold the credit card.
Except the poor regular reward rate on spends, everything else has been crafted well to position it in the super premium credit card segment. If you put a value to the benefits like Spa/BMS/Wifi among others, you’ll find the overall return to be reasonably good.
Cardexpert Rating: 4/5
Note: If you donot avail airport spa benefits, the rating will go as low as 3/5.
Yet, if you’re a very high spender, you may simply use this card as a Spa/BMS card and continue with other super premium credit cards for regular spends.
What’s your take on ICICI bank’s Emerald Credit Card? Anyone planning to apply anytime soon?