Devaluation ICICI Bank Reduces iShop Limits, Majorly Impacting Emeralde Private Metal & Times Black Cards

[SubhankarSubhankar is verified member.]

We all know that when something seems "too good to be true," it usually doesn’t last long. We’ve seen this happen multiple times with other credit card-issuing banks, and now ICICI Bank has joined the list.


ICICI initially thrilled credit card enthusiasts by launching the iShop portal, offering accelerated reward points - similar to GiftEdge, TravelEdge, SmartBuy, and Rewards Multiplier from its competitors.


The key attractions?
​

• 6X reward points on flight bookings​
• 12X reward points on hotel bookings​
• 6X reward points on gift vouchers—including the highly sought-after Amazon Pay vouchers​

With a ₹1,00,000 monthly purchase limit and an impressive 15-18% return, this was a no-brainer for many. Other banks had already imposed strict limits and convenience fees on such benefits, making ICICI’s offer a dream come true for users.


This was particularly rewarding for cards like Emeralde Private Metal and Times Black. While the Emeralde Private Metal is an exclusive offering, the Times Black card was widely issued, making it accessible to many.

​

The Silent Devaluation​

However, in under two months, ICICI silently devalued the benefit, slashing the maximum purchase limit for Amazon Pay and Flipkart vouchers to just ₹12,000. This is a major letdown, especially for those who recently got the Times Black card, which comes with a hefty ₹20,000 joining and renewal fee.


While it’s understandable that the bank wanted to prevent potential catastrophic losses - something we’ve seen happen to its peers - this abrupt change has shaken customer trust in ICICI.

​

Planned Strategy or Poor Judgment?​

This move raises two possibilities:

​

1. A strategic bait-and-switch: ICICI may have planned this from the start, waiting to hit its internal targets (especially considering the poor initial response to the Times Black card). If so, it was a well-played marketing move.​
2. A miscalculated risk: If ICICI failed to anticipate the cost-to-opportunity ratio, it reflects poorly on the management’s competency—something we have questioned before with other banks.​

What do you think? Was this an intentional strategy or a miscalculation? Let us know in the comments.​

 

[theXfactor]

Difficult to find a buyer even at 10% discount, because Airtel and HDFC Swiggy will always give 10% discount.

And HDFC Swiggy is now LTF

 

[theflash]

Difficult to find a buyer even at 10% discount, because Airtel and HDFC Swiggy will always give 10% discount.

Exactly my point

 

[da3m0n]

another devaluation:

 

[BVCBVC is verified member.]

another devaluation:

ICICI being welcomed by Amex and HDFC.

 

[sanarora]

No previous relation with ICICI , open to opening account with 3L + Salary credit.. for EPM. Any leads with a mumbai based RM much appreciated.
Currently have Axis BP banking & HSBC premier.

 

[amitagl27]

I purchased additional APay vouchers using another ICICI Bank Account (my brother's). So total purchased is 12000 (own account) + 12000 (brother's account) using same Times Black Credit Card today.
Let's see what happens.
I'll update if I get accelerated reward points.

Late to post and it might have been clarified already. However, just updating on my analysis.

I've verified this. It works. You get accelerated rewards for purchases from different ishop account and same times black card. Here is my analysis from last month statement



Rewards earned in the statement matches the accelerated points.



Also, I noticed the rewards (base + accelerated) are credited in the account on statement generation since last couple of months. No need to wait any longer.

 

[OptiCard]

Late to post and it might have been clarified already. However, just updating on my analysis.

I've verified this. It works. You get accelerated rewards for purchases from different ishop account and same times black card. Here is my analysis from last month statement

View attachment 98532

Rewards earned in the statement matches the accelerated points.

View attachment 98533

Also, I noticed the rewards (base + accelerated) are credited in the account on statement generation since last couple of months. No need to wait any longer.

I am already doing this from last 3 months. Yes, we used to get accelerated points.

Hoping they will stop these too.

 

[theflash]

Late to post and it might have been clarified already. However, just updating on my analysis.

I've verified this. It works. You get accelerated rewards for purchases from different ishop account and same times black card. Here is my analysis from last month statement

View attachment 98532

Rewards earned in the statement matches the accelerated points.

View attachment 98533

Also, I noticed the rewards (base + accelerated) are credited in the account on statement generation since last couple of months. No need to wait any longer.

But the main question here is do we get that within limit of 12/18k Points or if done from other ishop acct we can bypass the limit of 12/18k as well...?

 

[GG21]

But the main question here is do we get that within limit of 12/18k Points or if done from other ishop acct we can bypass the limit of 12/18k as well...?

Can we have seperate ishop login for add on card?

 

[OptiCard]

But the main question here is do we get that within limit of 12/18k Points or if done from other ishop acct we can bypass the limit of 12/18k as well...?

99% it won't bypass. 1% try your luck.

Don't misuse this much 😂

 

[theflash]

Can we have seperate ishop login for add on card?

I'm not sure. I've not tried usually the limits are sufficient for me but just in case anytime i need more of agv/fk/bb thats why I was asking...

 

[bhaveshbhai]

Can we have seperate ishop login for add on card?

I tried this and found that no, we cannot have a separate login to icici if we have just have the add on card relationship, you will need to open a zero balance account for a separate netbanking account.

 

[kvndsz512]

btw what are the daily and monthly capping on epm and is it just for the accelerated points or including base points and all is the capping?

is there any limit to the base earning rate?