ICICI’s Emeralde Private Metal Card vs. HDFC Infinia – Worth the Switch?

For years, HDFC Infinia has been the gold standard for Indian credit cards—offering top-tier rewards, travel perks, and seamless redemptions. Now, ICICI has finally stepped up with the Emeralde Private Metal Card, a product that closely resembles Infinia in many ways. But does it truly measure up, or is it still a work in progress? Let’s find out.

🏆 Side-by-Side Comparison – HDFC Infinia vs. ICICI Emeralde Private Metal

Feature	HDFC Infinia	ICICI Emeralde Private Metal
Joining Fee	₹12,500 + GST	₹12,500 + GST
Eligibility	High ITR or relationship with HDFC	High ITR or relationship with ICICI
Reward Rate (Base)	3.3% (5 points per ₹150, 1 point = ₹1)	3% (6 points per ₹200, 1 point = ₹1)
Reward Rate (Portal Multipliers)	Up to 33% (via SmartBuy)	Up to 36% (via iShop)
Capping on Portal Multipliers	Yes – Lower cap	Yes – Slightly higher cap
Lounge Access	Unlimited Priority Pass for Primary & Add-on	Unlimited Priority Pass for Primary & Add-on
Forex Markup	2.36% (2% + GST)	2.36% (2% + GST)
Golf Benefits	6 rounds per quarter	4 rounds per quarter
Annual Fee Waiver	Spend ₹10L to get a full waiver	Spend ₹10L to get a full waiver
Points Expiry	3 Years	3 Years
Hotel & Airline Transfers	20+ partners (Marriott, Qatar, Singapore, Etihad, Hilton)	Currently Air India only, with more partners coming soon
Alternative Redemption Value	₹1 per point on SmartBuy	₹1 per point on iShop
Long-Term Stability	Proven track record of consistency	New – Policy stability untested

🔍 Key Takeaways – What Stands Out?

1️⃣ ICICI has (almost) copied Infinia – and that’s not a bad thing

ICICI clearly studied the Infinia’s playbook and replicated: ✅ Similar base reward rate (3% vs. 3.3%) ✅ Same no-forex markup policy (2.36%) ✅ Same lounge access benefits ✅ Similar SmartBuy-like portal (iShop) for accelerated rewards

ICICI even offers a slightly higher multiplier cap than Infinia’s SmartBuy portal, making it arguably better for high spenders.

2️⃣ iShop vs. SmartBuy – Who Wins?

• ICICI iShop gives up to 36% rewards, slightly higher than HDFC SmartBuy’s 33%

• Both have caps on multipliers, but ICICI has a slightly higher limit

• SmartBuy has been stable for years, while iShop is still evolving and imposing new restrictions

  
  

Winner: ICICI (for higher capping) but needs to prove long-term stability

3️⃣ ICICI’s Lack of Transfer Partners – Still a Weak Spot

HDFC Infinia dominates airline & hotel transfers, with 20+ partners like:

• Air India, Qatar, Singapore Airlines, Etihad

• Marriott Bonvoy, Accor, ITC, Hilton

  
  

ICICI? Only Air India so far, but more are expected.

For frequent travelers, Infinia still offers better flexibility—but ICICI may catch up in the future.

Winner: Infinia – Until ICICI expands its transfer partners

4️⃣ The Real Test – Will ICICI Hold Up Over Time?

HDFC Infinia has stood the test of time, maintaining its rewards, policies, and transfer partners for years.

On the other hand, ICICI’s card is new, and there’s no guarantee it won’t see devaluations like Axis Reserve did.

📌 Why does this matter?

• Axis launched Reserve with huge benefits, then nerfed it overnight

• HDFC has never done that with Infinia – making it the most reliable premium card

  
  

Winner: Infinia – Proven track record of stability

💡 Final Verdict – Should You Switch or Have Both?

While choosing between HDFC Infinia vs ICICI Emeralde Private Metal, remember that both are exceptional super-premium cards, but is ICICI worth the switch?

✅ If you already have Infinia → Stick with it. It’s still the most stable and rewarding super-premium card in India.

✅ If you don’t have Infinia and qualify for ICICI → It’s worth considering, especially if you want higher multiplier caps.

🚨 Should You Hold Both? Only if you’re an ultra-premium user who spends a lot and wants an alternative just in case HDFC tightens policies.

🏆 MaxMyCard Verdict: Get at least one of these—it would be a crime not to. But for reliability, Infinia is still the GOAT.

ICICI needs time to prove itself, while Infinia has been the Rahul Dravid of credit cards—steady, dependable, and built for the long game.

What do you think? Would you switch to ICICI or stick with Infinia? Let us know in the comments!