ICICI Bank credit card devaluation: air accident cover and INOX offer end 15 December 2026

Short answer: ICICI Bank is reported to be removing complimentary air accident insurance, Cancellation For Any Reason (CFAR) cover and the INOX movie benefit from a long list of credit cards on 15 December 2026. Separately, the card replacement fee is reported to rise from ₹200 to ₹300 plus GST on 11 December, a ₹300 Priority Pass replacement fee starts the same day, and business and corporate cards get a higher replacement fee and dynamic currency conversion charge from 25 November.

How sure is this? Upstox and Card Insider both published the same card lists and dates on 12 November 2026, and Upstox names the bank's notice as "Upcoming changes in ICICI Bank Credit Card Feature & Charges". We could not read that notice ourselves: ICICI's public changes page did not list these items when we checked on 12 November. So this post is marked as reported, not confirmed, and we will update it when ICICI's own page carries the changes.

What changes

Card Insider adds that the three cards left out of the retail replacement fee change keep their existing, higher replacement fees.

Who is affected

• Premium cardholders who counted on the insurance. The reports put the Emeralde Private Metal, Sapphiro and Rubyx on the list losing air accident cover, with the Emeralde family and Times Black also losing CFAR cover.
• Moviegoers on entry and mid-tier cards. The INOX benefit is reported to end on the Coral, Rubyx, the MakeMyTrip Signature and the other cards in the table. The reports are about the INOX benefit only; they do not say the BookMyShow offer changes.
• Business and corporate cardholders who pay in rupees abroad. The reported dynamic currency conversion fee moves from 1% to 3.50%, the same figure most retail cards already carry. We explained how that charge works in our ICICI DCC post.
• Anyone who loses a card or a Priority Pass. A replacement will cost ₹300 plus GST from 11 December.

This is the latest entry in our India devaluation tracker.

What to do now

1. Do not rely on the card's air accident or CFAR cover for trips after 15 December. If a booking depended on it, buy standalone travel insurance and check what your other cards still include.
2. Use the INOX benefit before 15 December if your card has it, and watch your quarterly spend rule if you use the BookMyShow offer instead.
3. Need a replacement card or Priority Pass anyway? Ask for it before 11 December.
4. On a business card abroad, always pay in the local currency, not in rupees. That avoids the dynamic currency conversion fee altogether, at 1% or 3.50%.
5. Look for the bank's email or SMS. If what you receive differs from this table, trust the bank's message for your card.

Common questions

Which ICICI credit cards lose air accident insurance from 15 December 2026? Upstox and Card Insider both list Emeralde Private Metal, Times Black, Emeralde, Emeralde Private, Diamant, Sapphiro and Rubyx. Parakram Select and Parakram are reported to lose their personal and air accident cover on the same date.

Is the ICICI credit card INOX offer discontinued? It is reported to end on 15 December 2026 for Rubyx, Coral, Expressions, Chennai Super Kings, HPCL Super Saver, Emirates Rubyx and the three MakeMyTrip cards. ICICI has not yet shown this on its public changes page.

What is the new ICICI credit card replacement fee? ₹300 plus GST, up from ₹200 plus GST, from 11 December 2026 for retail cards and from 25 November 2026 for select business and corporate cards, per both reports. Emeralde Private Metal, Times Black and 1838 Reserve are excluded.

Wondering whether your ICICI card still earns its place after this? Ask Polo Brain which card to use, or let Polo Match find a better fit for your spend.