ICICI Bank Emeralde Private Metal vs ICICI Bank Times Black
A field-by-field comparison of fees, reward rates, accelerated categories, caps, exclusions, lounge access and forex markup, using each issuer's own published terms. Affiliate payout never decides the verdict.
Short answer
ICICI Bank Emeralde Private Metal and ICICI Bank Times Black differ first on recurring cost: ICICI Bank Emeralde Private Metal has an annual fee of ₹12,499 + GST against ₹20,000 + GST for ICICI Bank Times Black, so ICICI Bank Emeralde Private Metal is cheaper to hold. On rewards, ICICI Bank Emeralde Private Metal earns 6 Reward Points per ₹200 on eligible retail spend while ICICI Bank Times Black earns 2 ICICI Bank Reward Points per ₹100 on eligible domestic spend. ICICI Bank Times Black has the lower forex markup at 1.49%. Neither card wins outright: the better choice depends on which accelerated categories match your spend, the monthly caps, the exclusions and issuer approval fit.
Source: CardMasters issuer-evidence catalogue, release 2026-08-01. Confirm final terms with the issuer.
| Feature | ICICI Bank Emeralde Private Metal | ICICI Bank Times Black |
|---|---|---|
| Issuer | ICICI Bank | ICICI Bank |
| Joining fee | ₹12,499 + GST | ₹20,000 + GST |
| Annual fee | ₹12,499 + GST | ₹20,000 + GST |
| Fee waiver | ₹10,00,000 annual eligible spend | ₹25,00,000 annual eligible spend |
| Base rewards | 6 Reward Points per ₹200 on eligible retail spend | 2 ICICI Bank Reward Points per ₹100 on eligible domestic spend |
| Accelerated routes | grocery · utility · education | international spends · utility, insurance, education and government payments |
| Reward exclusions | fuel, rent, government, wallet load, cash advance, fees | fuel, rent, emi |
| Forex markup | 2% | 1.49% |
| Domestic lounge | unlimited | unlimited |
| International lounge | unlimited (Priority Pass) | unlimited via Priority Pass for primary and Plus Cardholders |
| Card networks | Mastercard | Visa Infinite |
| Best suited to | travel, luxury, high spender | travel, luxury, high spender, low forex |
| Issuer evidence | Checked 2026-08-01 | Checked 2026-08-01 |
Frequently asked questions
Is the ICICI Bank Emeralde Private Metal better than the ICICI Bank Times Black?
Neither is universally better. ICICI Bank Emeralde Private Metal charges ₹12,499 + GST a year and earns 6 Reward Points per ₹200 on eligible retail spend; ICICI Bank Times Black charges ₹20,000 + GST and earns 2 ICICI Bank Reward Points per ₹100 on eligible domestic spend. The better card is the one whose accelerated categories, caps and exclusions match your actual spending, after subtracting the annual fee and GST.
Which of the two has the lower annual fee, ICICI Bank Emeralde Private Metal or ICICI Bank Times Black?
ICICI Bank Emeralde Private Metal has the lower recorded annual fee at ₹12,499 + GST. A spend-based waiver may reduce the effective cost of the other card, so check the waiver threshold before deciding.
Which is better for international spending, ICICI Bank Emeralde Private Metal or ICICI Bank Times Black?
ICICI Bank Times Black publishes the lower forex markup at 1.49% versus 2%. Also confirm whether international transactions earn rewards, since some issuers exclude them.
Can I hold both cards together?
Yes, provided each is approved on its own merits and you can pay both statements in full. Holding both makes sense only when their accelerated categories do not overlap; otherwise the second card adds an annual fee without adding rewards.