Starting from 15th May, HDFC Bank will revise the reward points earning on most of its credit cards. Earlier, cardholders earned 1 reward point for every ₹150 spent, but this will now change to 1 reward point for every ₹200 spent. This change will apply to all HDFC Bank credit cards except Infinia (including Metal), Diners Black (including Metal), BizBlack, and a few more.
In addition, HDFC Bank will introduce a card reissuance fee of ₹199 for non-metal cards and ₹3,500 for metal card variants.
The Dynamic Currency Conversion (DCC) markup fee will also be updated to 1.75% on international transactions done in Indian currency.
There is no change in cashback or cashpoint earning rates for cards like Millennia, TATA Neu Infinity, TATA Neu Plus, Biz First, UPI, Biz UPI, UPI Super saver, Swiggy, Paytm cards, Phonepe cards, Easy EMI Millennia, Best Price Save smart, Flipkart Wholesale, Bharat cards, Marriott Bonvoy, ShoppersStop, IOCL, and other co-brand cards. This means users of these cards will continue to earn rewards at the same rate as before, without any reduction in value.
Bottom Line
On one hand, this change will impact almost all HDFC Bank credit cardholders except those using premium cards. Earlier, users could earn reward points on spends of ₹150, but now the minimum spend has been increased to ₹200. This reduces the overall value and rewards that cardholders get from their everyday spending.
The new reissuance fee also feels quite high, especially ₹3,500 for metal cards. This could be an added burden for users who may need a replacement card due to loss, damage, or upgrades.
Overall, these updates make the cards slightly less rewarding while increasing certain costs, which may not go down well with many users.