Updated on: 21 february 2025

Introduction

In the world of premium credit cards, two titans stand out in the Indian market: the HDFC Bank INFINIA Metal Credit Card and the ICICI Bank Emeralde Private Metal Credit Card. Both cards cater to the ultra-premium segment, offering exclusive benefits, impressive reward structures, and luxury lifestyle perks. But which one deserves a place in your wallet?

This comprehensive comparison breaks down every aspect of these elite metal cards to help you make an informed decision.

Annual Fees and Joining Benefits

HDFC Bank INFINIA Metal Credit Card

• Fee Structure: ₹12,500 + GST annual fee
• Welcome Bonus: 12,500 reward points upon fee payment
• Annual Fee Waiver Condition: Spend ₹10 lakh in the previous year

ICICI Bank Emeralde Private Metal Credit Card

• Fee Structure: ₹12,499 + GST annual fee
• Welcome Bonus: 12,500 reward points annually upon paying the membership fee
• Annual Fee Waiver Condition: Spend ₹10 lakh in the card anniversary year

The fee structures are nearly identical, with just a ₹1 difference in the base fee. Both cards offer the same ₹10 lakh spend threshold for fee waiver and provide 12,500 reward points as a welcome benefit.

Premium Hotel Partnerships

HDFC Bank INFINIA Metal Credit Card

Club Marriott Membership: 20% off on dining and room bookings at participating Marriott hotels in India. Discounts on weekend rates in Asia Pacific

ITC Hotels Benefits: Monthly 1+1 complimentary buffet and complimentary night with minimum two-night booking

ICICI Bank Emeralde Private Metal Credit Card

Taj Epicure Membership: Complimentary one-night stay at participating Taj hotels, 25% discount on F&B (up to 10 people), 20% discount on Qmin app, Jiva Spas, banquets and salon services

The hotel partnerships cater to different preferences. The HDFC Bank INFINIA Metal Credit Card offers a broader reach with both Marriott and ITC Hotels, while the ICICI Bank Emeralde Private Metal Credit Card provides deeper benefits specifically with the Taj hotel chain. Your preference may depend on which hotel group you frequent more often.

Reward Structure

HDFC Bank INFINIA Metal Credit Card

Base Reward Rate: 5 reward points per ₹150 (~3.3% reward rate)

Category Caps:

• Insurance: 5,000 RP/day
• Grocery: 2,000 RP/month

Accelerated Rewards (SmartBuy):

• Hotels & Select Partners: 10X (~33% rewards)
• Flights & Most Partners: 5X (~16.5% rewards)
• Monthly cap: 15,000 RP (standard)

ICICI Bank Emeralde Private Metal Credit Card

Base Rate: 6 reward points per ₹200 (~3% reward rate)

Category Caps:

• Grocery: 1,000 RP/statement
• Education: 1,000 RP/statement
• Insurance: 5,000 RP/statement
• Utility: 1,000 RP/statement

Accelerated Rewards on (ishop.reward360.in):

• Hotels: 12X (~36% rewards)
• Shopping/Flights/Bus: 6X (~18% rewards)
• Monthly cap: 18,000 RP

The HDFC Bank INFINIA Metal Credit Card has a slightly higher base earn rate (3.3% vs 3%), but the ICICI Bank Emeralde Private Metal Credit Card offers higher accelerated rewards on hotel bookings (36% vs 33%). ICICI card's 18% rewards on Amazon Pay Gift Cards is a unique advantage for regular Amazon shoppers.

Redemption Value Comparison

HDFC Bank INFINIA Metal Credit Card

Premium Redemptions (1 RP = ₹1):

• Hotel/Flight bookings on SmartBuy, Cap of 1,50,000 RPs per month; 70% max payment by RP's
• Tanishq Vouchers Cap of 50,000 RPs per quarter; 70% max payment by RP's
• Apple Vouchers, 70% max payment by RP's ; you can only redeem one apple product per quarter.
• Airline Transfers: Multiple partners (typically 1:1 or 1:2 ratio)

Standard Redemptions:

• Product Vouchers: 1 RP = ₹0.50
• Statement credit: 1 RP = ₹0.30

ICICI Bank Emeralde Private Metal Credit Card

Premium Redemptions (1 RP = ₹1):

• Flights (95% of value)
• Hotels (90% of value)

Standard Redemptions:

• Shopping e-Vouchers: 1 RP = ₹0.60
• Cash/Statement Credit: 1 RP = ₹0.40

The HDFC Bank INFINIA Metal Credit Card offers more flexibility with 16 airline transfer partners, while the ICICI Bank Emeralde Private Metal Credit Card provides better value for standard redemptions (₹0.60 vs ₹0.50 for vouchers; ₹0.40 vs ₹0.30 for statement credit). Both offer 1:1 value for travel & stay redemptions.

Lifestyle Benefits Comparison

HDFC Bank INFINIA Metal Credit Card

• Golf Benefits: Unlimited rounds and coaching (includes 50 balls and instructor fees)
• Dining: Monthly 1+1 buffet at ITC Hotels

ICICI Bank Emeralde Private Metal Credit Card

• Golf Benefits: Unlimited international rounds and lessons
• Dining: EazyDiner Prime (25-50% off at 3,000+ restaurants)
• Movies: Buy 1 Get 1 up to ₹750 on BookMyShow (twice monthly)
• Milestone Benefit: ₹6,000 EaseMyTrip vouchers at ₹8 lakh spend

While both cards offer similar core benefits (lounge access, golf), the ICICI Bank Emeralde Private Metal Credit Card provides more diverse lifestyle perks with EazyDiner discounts, movie offers, and travel vouchers. The HDFC Bank INFINIA Metal Credit Card focuses more on premium hotel dining experiences.

Travel & Airport Lounge Benefits

HDFC Bank INFINIA Metal Credit Card

• Lounge Access: Unlimited worldwide via Priority Pass
• Hotel Partnerships: Marriott and ITC Hotels
• Reward Multipliers: Up to 10X on hotel bookings (33%)
• Forex Markup: 2%

ICICI Bank Emeralde Private Metal Credit Card

• Lounge Access: Unlimited worldwide via Priority Pass
• Hotel Partnerships: Taj Hotels
• Reward Multipliers: Up to 12X on hotel bookings (36%)
• Cancellation Benefit: Refunds up to ₹12,000 for flight/hotel cancellations (max twice/year)
• Forex Markup: 2%

Analysis: Both cards offer similar core travel benefits, but the ICICI Bank Emeralde Private Metal Credit Card edges ahead with its unique cancellation benefit and slightly higher reward rate on hotel bookings. The choice may come down to your preferred hotel chain.

HDFC Bank Global Value Program

The HDFC Bank Global Value Program (GVP) is an add-on service designed to enhance rewards on international transactions for HDFC Bank credit cardholders. While many credit cards in India offer rewards for domestic purchases, very few focus on international spending, which has increased due to global travel and cross-border e-commerce. This program is especially valuable for HDFC Bank Infinia and Diners Club Black cardholders, offering additional cashback even after considering forex markups.

What is the HDFC Bank Global Value Program?

The HDFC Bank Global Value Program (GVP) provides a 1% cashback on all international transactions made with HDFC Bank credit cards. This cashback is applied over and above the standard credit card reward points.

For frequent international travelers or those who make regular foreign currency transactions, the HDFC Global Value Program offers significant savings effectively offering 1.94% reward rate for Infinia/DCB. For a nominal fee of ₹235 annually, users can earn up to ₹12,000 cashback on international transactions each year. With the cashback cap at ₹1000 per statement cycle, high spenders on international transactions can fully utilize this benefit with regular use.

Brief Comparison Table

Conclusion

Both the HDFC Bank INFINIA Metal Credit Card and the ICICI Bank Emeralde Private Metal Credit Card represent the pinnacle of premium credit cards in India. Your choice ultimately depends on your spending patterns, travel preferences, and which hotel loyalty program you value more.

For the broadest range of partners and transfer options, the HDFC Bank INFINIA Metal Credit Card has a slight edge. For better redemption values and diverse lifestyle benefits, the ICICI Bank Emeralde Private Metal Credit Card takes the lead. Either way, these metal cards deliver exceptional value for the discerning high-end consumer.

Disclaimer: Benefits and features are subject to change. Always verify the latest terms and conditions directly with the issuing bank before applying.

FAQ's

1. Can I have both the HDFC Bank INFINIA Metal Credit Card and ICICI Bank Emeralde Private Metal Credit Card simultaneously?

Yes, you can apply for both cards if you meet the eligibility criteria for each. Having both would maximize your benefits across different hotel chains and reward programs.

2. Which card offers better airport lounge access - the HDFC Bank INFINIA Metal Credit Card or ICICI Bank Emeralde Private Metal Credit Card?

Both cards offer virtually identical lounge benefits with unlimited Priority Pass access worldwide for both primary and add-on cardholders.

3. How do the reward points compare in actual value between HDFC Bank INFINIA Metal Credit Card and ICICI Bank Emeralde Private Metal Credit Card?

When redeemed optimally:

• HDFC Bank INFINIA Metal Credit Card: 1 RP = ₹1 (Flights/Hotels)
• ICICI Bank Emeralde Private Metal Credit Card: 1 RP = ₹1 (flights & hotels)

4. What are the spending requirements for the HDFC Bank INFINIA Metal Credit Card and ICICI Bank Emeralde Private Metal Credit Card?

Both cards typically require high income levels (₹60+ lakh annually) or existing premium banking relationships. The exact criteria aren't publicly disclosed.

5. Are there any hidden fees to be aware of with these premium metal credit cards?

Both cards have similar fee structures with 2% forex markup and standard interest rates. The ICICI Bank Emeralde Private Metal Credit Card offers a fuel surcharge waiver (1% up to ₹1,000 per statement).

6. How do the renewal benefits compare between the HDFC Bank INFINIA Metal Credit Card and ICICI Bank Emeralde Private Metal Credit Card?

HDFC Bank INFINIA Metal Credit Card: 12,500 RP if annual fee is charged
ICICI Bank Emeralde Private Metal Credit Card: 12,500 RP upon fee payment + EazyDiner Prime membership upon renewal

7. Which card is better for dining experiences - HDFC Bank INFINIA Metal Credit Card or ICICI Bank Emeralde Private Metal Credit Card?

The ICICI Bank Emeralde Private Metal Credit Card offers more diverse dining benefits with both Taj discounts and EazyDiner Prime membership, while the HDFC Bank INFINIA Metal Credit Card focuses on Marriott and ITC dining experiences.

8. Are the HDFC Bank INFINIA Metal Credit Card and ICICI Bank Emeralde Private Metal Credit Card worth their annual fees?

For high spenders who can utilize the premium benefits and earn accelerated rewards, both cards offer value that far exceeds their annual fees. The fee waiver at ₹10 lakh spend makes them even more attractive.