ICICI Bank credit card rule changes: Key February updates kick in from February 1

ICICI bank is trading at a premium over HDFC Bank which will likely sustain.

ICICI Bank’s revised credit card charges, rewards and benefits are entering the final phase of rollout, with several key changes set to take effect from February 1, 2026.

From conditional movie ticket offers to tighter reward caps on transport spends and new fees on wallet loading and gaming transactions, the February updates could directly impact the value cardholders get from everyday usage. Notably, the popular BookMyShow Buy-One-Get-One benefit will be withdrawn on select cards, while continuing on others subject to quarterly spending thresholds.

The revisions are being implemented in phases between January and February 2026 and apply across ICICI Bank’s retail credit card portfolio. Here’s a detailed list of what’s changing:

High-Value Transportation Spends

• A 1% charge will apply on transportation transactions exceeding Rs 50,000 under select merchant category codes.
• This mainly affects high-value travel-related spends.
• Changes To Reward Points On Transportation Spends
• Reward points on transportation spends will now be capped monthly.
• Emeralde, Emeralde Private, Sapphiro and Rubyx cards will earn rewards only up to Rs 20,000 per month.
• Coral, Platinum, Manchester United, CSK, Expressions and other mid-tier cards will be capped at Rs 10,000 per month.
• These caps primarily impact railway and bus bookings.

Revisions To Entertainment Benefits

• The BookMyShow Buy-One-Get-One offer will now be conditional.
• Cardholders must spend Rs 25,000 in the previous calendar quarter to access the benefit in the current quarter.
• From February 2026, Instant Platinum credit cards will no longer offer this benefit.
• Other eligible ICICI Bank cards will continue to offer the benefit, subject to the quarterly spend requirement.

Changes To Super-Premium Emeralde Cards

• Dynamic Currency Conversion (DCC) fee on Emeralde Metal, Emeralde Private and Emeralde (PVC) cards has been increased to 2%.
• Emeralde Metal cardholders will no longer earn reward points on Government services, Fuel, Rent and property management, Tax payments, and Third-party wallet transactions.
• New add-on cards on Emeralde Metal will attract a one-time fee of Rs 3,500.

Updated Foreign Currency And Dcc Charges

DCC fees have been revised based on card category:

• 0.99% on MakeMyTrip Travel cards
• 1.49% on Times Black
• 1.99% on Amazon Pay ICICI
• Up to 3.5% on several other cards, including MMT Signature and Platinum

Online Gaming Transactions

• A 2% fee will be charged on transactions made on online gaming platforms.
• This includes platforms such as Dream11, Rummy Culture, Junglee Games and MPL.
• The charge will also apply to similar gaming-related merchant category codes introduced in the future.
• The fee applies to deposits and other comparable transactions.

Third-Party Wallet Loading

• A 1% fee will be levied on wallet loading transactions of Rs 5,000 or more.
• This applies to wallets such as Amazon Pay, Paytm, MobiKwik, Freecharge and OlaMoney.

Other Applicable Changes

Branch cash payment charges have also been increased, while foreclosure charges will now apply to cancelled Instant EMIs. In addition, HPCL Super Saver Credit Card holders will continue to earn reward points on insurance payments only up to Rs 40,000 per month at the existing earn rate.

Most changes will come into effect from January 15, 2026, while certain reward caps and benefit withdrawals will apply from February 1, 2026.

ICICI Bank has advised cardholders to review the revised terms and charges carefully.