New ICICI & HDFC Rules: How They Affect Your Credit Card Fee Waiver in 2026

By Nitish Bharadwaj · Published Jul 1, 2026 · 5 min

Several banks quietly rewrote the rules for waiving credit card annual fees in 2026. ICICI cut the qualifying spend for its Emeralde cards from ₹15 lakh to ₹10 lakh but excluded rent, government, and education payments — raising the effective bar for many cardholders. HDFC tied renewal waivers and lounge access on Infinia, Infinia Metal, Regalia Gold, and Millennia to specific spend thresholds. This guide breaks down the exact numbers by card and gives concrete steps to protect your fee waiver in 2026.

For years, the annual fee waiver on a premium credit card was almost automatic — spend a certain amount in a year and the fee vanished from your next statement. In 2026, several major banks quietly redrew those rules, and cardholders who don't check the fine print will find their "free" premium card suddenly costs ₹5,000–12,500 a year.

What ICICI Bank Changed

ICICI Bank revised the annual fee waiver terms on its Emeralde family of cards (Emeralde, Emeralde Visa, and Emeralde Private) in 2026. On paper, the qualifying annual spend threshold was lowered from ₹15 lakh to ₹10 lakh — which looks like good news. But the bank simultaneously excluded rent payments, government transactions, and education payments from counting toward that spend. For cardholders who were using rent or school fee payments through platforms like NoBroker or CRED to hit the old ₹15 lakh mark, the effective bar to clear the waiver is now higher, not lower.

What HDFC Bank Changed

HDFC Bank has moved several of its cards toward spend-linked renewal waivers where a flat benefit used to apply. As of 2026, the Infinia card waives its renewal fee on ₹8 lakh of annual spend, the Infinia Metal Edition requires ₹10 lakh, the Regalia Gold needs ₹4 lakh within 12 billing cycles of the card anniversary, and the entry-level Millennia needs ₹1 lakh. Lounge access on some cards has also become spend-linked rather than a flat, card-holding benefit — a broader shift from "you have the card, you get the perk" to "you spend enough, you earn the perk."

How to Protect Your Fee Waiver in 2026

• Check your card's MITC page on the bank's official website every January — thresholds and exclusions are revised at the start of the financial year more often than banks announce publicly
• Track your qualifying spend (not total spend) through your bank's app — most now show a running total against the fee-waiver target, separate from your overall spend
• If you route rent or fees through a card specifically for milestone spend, confirm the category is still eligible before relying on it for this year's target
• If you consistently fall short of the new threshold, compare whether paying the annual fee is still worth it against the card's actual reward value, or consider downgrading to a lower-fee variant

None of this means premium cards have stopped being worth holding — a card with a ₹12,500 fee that returns ₹20,000+ in lounge access, milestone vouchers, and reward value is still a net win even if you pay the fee outright. The change simply means the "free card if I spend enough" assumption needs to be re-verified every year rather than set once and forgotten. This sits alongside other habits — like reward point expiry and multi-card stacking — that quietly determine whether a credit card is a net asset or a net cost.