# Emirates Skywards devalued Classic/Upgrade Rewards ~15% (First/Business/Premium Economy)

**Devaluation** · effective 20 May 2026

Affects: [Emirates Skywards ICICI Bank Rubyx](https://getbrief.cards/cards/es-icici-rubyx), [Emirates Skywards ICICI Bank Sapphiro](https://getbrief.cards/cards/es-icici-sapphiro), [Emirates Skywards ICICI Bank Emeralde](https://getbrief.cards/cards/es-icici-emeralde), Emirates Skywards, Emirates Skywards Miles

verified · checked 22 July 2026 · recorded 22 July 2026

Source: https://www.emirates.com/english/skywards/emirates-skywards-program-updates/

## Also on these cards (2)

- 15 January 2026: [Emirates Skywards ICICI earn rates cut across all 3 tiers](https://getbrief.cards/changes/es-icici-deval-jan26)
- 19 February 2024: [Visa Infinite cards now fast-track to GHA DISCOVERY Titanium (to 31 Dec 2026)](https://getbrief.cards/changes/gha-visa-fasttrack-2026)

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Every change, dated: https://getbrief.cards/changes
Canonical: https://getbrief.cards/changes/skywards-award-deval-2026