HDFC Bank has introduced another major change to its SmartBuy rewards program. Effective July 1, 2026, the bank has imposed a separate monthly limit on accelerated Reward Points earned through brand voucher purchases on SmartBuy.
Earlier, reward points earned on gift vouchers were counted within the overall monthly SmartBuy reward cap. With the latest update, voucher purchases will now have their own dedicated monthly limit, significantly reducing the reward earning potential for users who primarily relied on SmartBuy vouchers.
This move comes after a series of recent changes by HDFC Bank, including the reduction of accelerated reward rates on select categories and the introduction of annual spend requirements/Relationship Value on Infinia.
What Has Changed?
HDFC Bank has introduced a separate monthly cap on accelerated Reward Points earned through SmartBuy gift vouchers. While the overall monthly SmartBuy reward limit for each credit card remains unchanged, reward points earned from voucher purchases are now restricted to a much lower limit.
For most premium HDFC credit cards, including Infinia, Diners Club Black, and BizBlack, the maximum accelerated Reward Points that can be earned from SmartBuy vouchers is now 3,000 points per month.
Once this limit is reached, further voucher purchases will not earn accelerated Reward Points, even if the cardholder has not exhausted the overall monthly SmartBuy reward limit.
Cards Affected
The revised SmartBuy voucher reward limits apply to several HDFC Bank credit cards, including:
- HDFC Infinia Credit Card
- HDFC Diners Club Black Metal Credit Card
- HDFC Diners Club Black Credit Card
- HDFC BizBlack Metal Credit Card
- HDFC Regalia Gold Credit Card
- HDFC Diners Club Privilege Credit Card
- HDFC BizPower Credit Card
Each of these cards continues to have its own overall SmartBuy reward cap, but voucher-related rewards will now be restricted within a separate monthly limit.
Infinia Cardholders See the Biggest Impact
The biggest impact of this change will be on HDFC Infinia Credit Card users.
Previously, Infinia cardholders could earn up to 15,000 accelerated Reward Points every month through SmartBuy voucher purchases. Under the revised rules, only 3,000 Reward Points can now be earned from vouchers, representing an 80% reduction in reward earning potential through this route.
Similarly:
- Diners Club Black Metal and BizBlack Metal cardholders will now be limited to 3,000 Reward Points, compared to the earlier 10,000 points.
- Regalia Gold users will also see reduced reward earning potential on SmartBuy vouchers.
What Does This Mean for Cardholders?
Many HDFC Bank credit card users purchased SmartBuy gift vouchers for brands such as Croma, Reliance Digital, and other partner merchants to maximize Reward Points on their regular spending.
With the new cap, this strategy becomes significantly less rewarding.
Cardholders can still earn accelerated Reward Points through SmartBuy, but once the monthly voucher limit is exhausted, additional accelerated rewards can only be earned through other eligible SmartBuy categories, such as:
- Flight bookings
- Hotel bookings
- Partner travel services
- Other eligible SmartBuy merchants
Bottom Line
HDFC Bank’s latest SmartBuy update significantly reduces the reward earning potential on gift voucher purchases. While the overall monthly SmartBuy reward cap remains unchanged, the introduction of a separate voucher-specific limit means users can no longer maximize Reward Points through SmartBuy vouchers as they could earlier.
Cardholders who frequently purchase gift vouchers should review the revised limits before planning their monthly spends. After reaching the voucher cap, using other SmartBuy categories will be the only way to continue earning accelerated Reward Points.