HDFC Bank Credit Card points to devalue as of November 2016

HDFC Bank Credit Cards has a host of their own cards which they issue to customers, apart from their co-branded cards which are also issued to customers. These cards accumulate the HDFC Bank Credit Card currency/points, and are usually usable for redemptions on a catalogue of products apart from transfer to mileage programs. Usually not of interest to credit card based mileage program transferors, but sometimes yes.

There is a new update on the HDFC Bank Credit Cards website, which should be of interest to those who use an HDFC Bank Credit Card. There will be a large number of changes on most products which use their own currency. Here is a list of the changes, and here is a reproduction of the list. For reference, here is the HDFC Bank Rewards Catalogue.

HDFC Bank Platinum Plus Credit Card
Effective 01st Nov 2016, your HDFC Bank Platinum Plus Credit Card Rewards Program will be updated. Eg. You will now be able to purchase a Lifestyle voucher worth Rs 500 for 4895 reward points as against 3265 reward points. All Rewards Programs Terms and Conditions apply.

HDFC Bank Doctor’s Platinum Credit Card
Effective 01st Nov 2016, your HDFC Bank Doctor’s Platinum Credit Card Rewards Program will be updated. Eg. You will now be able to purchase a Lifestyle voucher worth Rs 500 for 4895 reward points as against 3265 reward points. All Rewards Programs Terms and Conditions apply.

HDFC Bank Platinum Credit Card
Effective 01st Nov 2016, your HDFC Bank Platinum Credit Card Rewards Program will be updated. Eg. You will now be able to purchase a Lifestyle voucher worth Rs 500 for 4895 reward points as against 3265 reward points. All Rewards Programs Terms and Conditions apply.

HDFC Bank Platinum Edge Credit Card
Effective 01st Nov 2016, your HDFC Bank Platinum Edge Credit Card Rewards Program will be updated. Eg. You will now be able to purchase a Lifestyle voucher worth Rs 500 for 4895 reward points as against 3265 reward points. All Rewards Programs Terms and Conditions apply.

HDFC Bank Teacher’s Platinum Credit Card
Effective 01st Nov 2016, your HDFC Bank Teacher’s platinum Credit Card Rewards Program will be updated. Eg. You will now be able to purchase a Lifestyle voucher worth Rs 500 for 4895 reward points as against 3265 reward points. All Rewards Programs Terms and Conditions apply.

HDFC Bank Corporate Platinum Credit Card
Effective 01st Nov 2016, your HDFC Bank Corporate Platinum Credit Card Rewards Program will be updated. Eg. You will now be able to purchase a Lifestyle voucher worth Rs 500 for 4895 reward points as against 3265 reward points. All Rewards Programs Terms and Conditions apply.

HDFC Bank Visa Signature Credit Card
Effective 01st Nov 2016, your HDFC Bank Visa Signature Credit Card Rewards Program will be updated. Eg. You will now be able to purchase a Lifestyle voucher worth Rs 500 for 3265 reward points as against 1960 reward points. All Rewards Programs Terms and Conditions apply.

HDFC Bank MasterCard World Credit Card
Effective 01st Nov 2016, your HDFC Bank MasterCard World Credit Card Rewards Program will be updated. Eg. You will now be able to purchase a Lifestyle voucher worth Rs 500 for 3265 reward points as against 1960 reward points. All Rewards Programs Terms and Conditions apply.

HDFC Bank Superia Credit Card
Effective 01st Nov 2016, your HDFC Bank Superia Credit Card Rewards Program will be updated. Eg. You will now be able to purchase a Lifestyle voucher worth Rs 500 for 3265 reward points as against 1750 reward points. All Rewards Programs Terms and Conditions apply.

HDFC Bank Doctor’ Superia Credit Card
Effective 01st Nov 2016, your HDFC Bank Doctor’s Superia Credit Card Rewards Program will be updated. Eg. You will now be able to purchase a Lifestyle voucher worth Rs 500 for 3265 reward points as against 1750 reward points. All Rewards Programs Terms and Conditions apply.

HDFC Bank All Miles Credit Card
Effective 01st Nov 2016, your HDFC Bank All Miles Credit Card Rewards Program will be updated. Eg. You will now be able to purchase a Lifestyle voucher worth Rs 500 for 3265 reward points as against 1750 reward points. All Rewards Programs Terms and Conditions apply.

HDFC Bank Corporate Signature Credit Card
Effective 01st Nov 2016, your HDFC Bank Corporate Signature Credit Card Rewards Program will be updated. Eg. You will now be able to purchase a Lifestyle voucher worth Rs 500 for 3265 reward points as against 1630 reward points. All Rewards Programs Terms and Conditions apply.

HDFC Bank Corporate World Credit Card
Effective 01st Nov 2016, your HDFC Bank Corporate World Credit Card Rewards Program will be updated. Eg. You will now be able to purchase a Lifestyle voucher worth Rs 500 for 3265 reward points as against 1630 reward points. All Rewards Programs Terms and Conditions apply

HDFC Bank Regalia Credit Card
Effective 01st Nov 2016, your HDFC Bank Regalia Credit Card Rewards Program will be updated. Eg. You will now be able to purchase a Lifestyle voucher worth Rs 500 for 1630 reward points as against 1225 reward points. All Rewards Programs Terms and Conditions apply

HDFC Bank Business Regalia Credit Card
Effective 01st Nov 2016, your HDFC Bank Business Regalia Credit Card Rewards Program will be updated. Eg. You will now be able to purchase a Lifestyle voucher worth Rs 500 for 1630 reward points as against 1225 reward points. All Rewards Programs Terms and Conditions apply

HDFC Bank Doctor’s Regalia Credit Card
Effective 01st Nov 2016, your HDFC Bank Doctor’s Regalia Credit Card Rewards Program will be updated. Eg. You will now be able to purchase a Lifestyle voucher worth Rs 500 for 1630 reward points as against 1225 reward points. All Rewards Programs Terms and Conditions apply

Here are the quantum of changes in the values of the reward points coming in 1.5 months:

  • All Platinum Tier Cards as listed below will see a 50% devaluation of points value
    • HDFC Bank Platinum Plus Credit Card
    • HDFC Bank Doctor’s Platinum Credit Card
    • HDFC Bank Platinum Credit Card
    • HDFC Bank Platinum Edge Credit Card
    • HDFC Bank Teacher’s Platinum Credit Card
    • HDFC Bank Corporate Platinum Credit Card
  • All Visa Signature/MasterCard World Tier Cards as listed below will see 66% devaluation of points value
    • HDFC Bank Visa Signature Credit Card
    • HDFC Bank MasterCard World Credit Card
  • Superia Cards as listed below will see 87% devaluation of points value
    • HDFC Bank Superia Credit Card
    • HDFC Bank Doctor’ Superia Credit Card
  • HDFC Bank All Miles Credit Card points will be devalued 87% as well for catalogue redemptions. I think they have already seen a devaluation for conversion to miles or redemption as cash.
  • HDFC Bank Corporate Credit Cards see a 100% devaluation of points value
    • HDFC Bank Corporate Signature Credit Card
    • HDFC Bank Corporate World Credit Card
  • HDFC Bank Regalia Credit Card will see a 33% devaluation of points value. This is a very interesting one for the readers of this blog, since I know a lot of you do hold this card and use the points to redeem tickets using the Regalia portal.
    • HDFC Bank Regalia Credit Card
    • HDFC Bank Business Regalia Credit Card
    • HDFC Bank Doctor’s Regalia Credit Card

With HDFC Bank’s model of issuing credit cards for free, one cannot complain when the reward programs devalue. This is however a lot of notice being given by HDFC Bank, so I’d advise you to use your points before the devaluation hits the cards.

Having said that, I’m hoping some of the users of these cards can chime in with more details of the reward points and ideas on how to use them in the comment section, since I have been a Diners Black user for a while, and don’t really know much about these reward points anymore.

Bottomline

Earn & Burn, Earn & Burn. That is the only way to stay ahead in this game.

(H.T.: Prashant Agrawal)

 

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About Ajay Awtaney

Ajay is a financial services pro, working to bring order to the chaos of the financial industry on an everyday basis! Beyond that, he dons the hat of India's favourite frequent traveller, trying to help people elevate their travel experience via tips and tricks they never knew before, or introduce them to the world of miles and points. Armed with an MBA from MDI Gurgaon and graduate degree in computer science from the University of Delhi, Ajay brings a systematic and objective approach on the table for his audience in dissecting travel and loyalty programs in India and around the world, and how to benefit from them. Ajay has been quoted in various reputed traditional and online media including The Hindustan Times, Inside Flyer, Bloomberg, DNA India, Conde Nast Traveller, The Telegraph, Mumbai Mirror, Mint, MoneyLife and The USA Today.

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Comments

  1. This is bad.. While new points could have been devalued.. older points suddenly becoming of less value is ridiculous.

    I just got approved for a Chase Sapphire Reserve card.. While that does come with a 450 US $ fee. (150$ effectively) which is roughly INR 10000.. It gives tremendous value.
    for a INR 150 spend.. I would get 6 points on travel on dining.. valued at about a rupee at least..

  2. I am presuming Diners cards are not being devalued (yet). I am pushing spending to my AllMiles. Next month, I will redeem all points after bill generation on Shoppers Stop vouchers & switch to Diners Premium.

  3. Hi Ajay

    I hold a Diner’s Club Premium card (just got two months back). My RM just told me that the points will be devalued for Diner’s club as well. He did not tell me the exact value but told that it will be around 1RP~=0.4Rs.
    Moreover, I have not received 10x reward points from Myntra/Flipkart in the last statement cycle. I’m not sure if the offers are being taken down now.

    Do you have any updates regarding this?

    Regards
    Mandeep

  4. I just stumbled upon this blog of yours, as a frequent flyer I don’t know how I missed yours! A review of AI First Class EWR BOM got me here.

    Considering the downgrade by HDFC – what do you think the best credit card earning strategy should be?

    And before I end, thank you for taking the time to do the amazing work that you continue to do. Stay blessed!

  5. Hey i was just going through the hdfc diners black website opening page(checking for devaluation) and one of the points caught my eye that ….

    Redeem Reward Point for AirMiles across Jet Airways (JPMiles), Air India (Air India Miles) or Singapore Airlines (KrisFlyer Miles). 1 Reward Point = 0.70 AirMile.

    Is this already in place or what. Although the form to redeem on the hdfc website is still the same i.e 1Rp = 1Mile…..

    Kindly Update

  6. HDFC has been generous in doling out reward points of late with all 5x and 10x promotions, so it’s not entirely surprising to see this. Nowhere in the website does it talk about changes to air mile conversion ratio, but I won’t be surprised if on Nov 1 that’s suddenly changed as well. Curiously their top of the line Infinea card doesn’t figure in the list.

    • @SilentFlyer let’s not train the gun on HDFC Bank for the 5x and 10x before understanding how the industry works. These promotional partners pay the Bank to issue extra points so it is not like the bank is out of pocket on those extra points.

      • @Ajay Lol, not gunning down HDFC, but just wondering who sponsors these. As a Regalia user myself, i hope they don’t devalue air miles conversion.
        You are right that promotional partners pay the bank in general. But in HDFC’s case they also run in-house promotions, e.g. Payzapp, Smartbuy etc where 5x promotion is on. In these cases is anyone paying HDFC for these extra points? I doubt. Please correct me if i am wrong here.

  7. Ajay,
    Do you think that in coming times accrual of miles on HDFC Jet Cards will also see a downward revision? I have two reasons to believe on change in coming times:
    1. All other HDFC cards have been devalued as stated by you above,
    2. Jet itself has made heavy changes to its miles accrual system. Jet might not want members to accrue miles easily through CC partners.

    • @Pratik, I can’t comment on that fully as yet. Diners Jet is a top of the line card, and hence needs top of the line benefits to succeed. JetPrivilege will be only happy to sell more miles to HDFC when they want to give it to their members. So, I don’t see that as a problem. As for HDFC Bank’s own line of thinking, the other cards they are devaluing are captive currency (HDFC Points), but here they are buying points from a third party. Also, these other cards are typically issued free of cost, but for Jet Diners, one has to pay 10K INR for the first year. Maybe after a couple of years they reduce the barrier, but not just yet is my guess.

  8. Ajay will this affect ticket redemptions on Regalia cards on their own Site. I mean the current points are valued at 0.75 Rupee. So I hope it remains the same. Kindly clarify

    • Unfortunately, it the points will be valued @.6 Rp come Nov’16 (source – regalia website).

      I however could not find any info on point conversion to air miles. Does it remain same as earlier? Will appreciate any info.

      – maverick

  9. Ajay, What about the Mileage Transfer Scheme? Will that be devalued also by the above mentioned percentage for a particular credit card?

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