HDFC Bank JetPrivilege cards reduces earnings as of October 2017

As if the chopping of benefits on the HDFC Bank Credit Cards was not enough, when it went through on August 15, 2017, there is more news emerging out of HDFC Bank now.

HDFC Bank is moving their new issuances on the JetPrivilege cards to Visa instead of the current MasterCard with effect from October 1, 2017. They are also reducing the sign-on bonuses for new cards from that date. I’d presume this has something to do with their new network partnerships, which allows them to keep more in their pocket and pay less to Visa as compared to what they pay MasterCard.

HDFC Bank JetPrivilege World Credit Card

For the HDFC Bank JetPrivilege World Credit Card, which currently gets you 10,000 JPMiles as a sign-on reward (5,000 just to sign up, 5,000 for spend), the sign-on amount will go down to 7,500 JPMiles (half for sign on, half for spending). On renewal, the amount goes down from 4,000 JPMiles to 3,000 JPMiles per annum. Further, the amount of JPMiles per INR 150 spent stays at 6 JPMiles per INR 150 spent on this card. If you apply now for the best available offer, you can still get 10,000 JPMiles including sign-on and spend bonuses.

In case you already have this card or receive it before September 30, 2017, you need to ensure your first transaction is done before September 30, 2017 to ensure you get your benefits as per the old scheme of things.

HDFC Bank JetPrivilege Platinum Credit Card

For the HDFC Bank JetPrivilege Platinum Credit Card,  which currently offers 5 JPMiles/INR 150 spent, the amount goes down to 4 JPMiles/INR 150 Spend. The sign on reward goes down from 4,000 JPMiles to 3,000 JPMiles and 1,500 JPMiles will be the renewal bonus after year 1.

If you apply now for the best available offer, you can still get 4,000 JPMiles including sign-on and spend bonuses.

HDFC Bank JetPrivilege Titanium Credit Card

For the HDFC Bank JetPrivilege Titanium Credit Card, which currently offers 4 JPMiles/INR 150 spend, the number of miles earned goes down to 2 JPMiles/INR 150 Spend. The sign on reward goes down from 2,000 JPMiles to 0 sign-up miles, and 0 renewal miles. Also, the lounge benefits would be withdrawn.

If you apply now for the best available offer, you can still get 2,000 JPMiles including sign-on and spend bonuses.

If you have the old cards right now, I’d expect HDFC Bank to honour your old benefits till the time you have the MasterCard variant, which would mean Lounge Access as per the MasterCard benefits list rather than the Visa one.

Bottomline

Ultimately, this is HDFC Bank working for their own bottomline. And you can’t fault them for that, but if you still want to win with them, it is easy to apply now and get some of the older benefits.

What do you think about HDFC Bank’s new move with respect to credit cards associate with JetPrivilege?

Comments

  1. if you try to apply now, the first page shows 10k sign up bonuses but then when you are taken to HDFC site to fill up the form, it shows 7.5K. not sure what this is about.

  2. Are there any changes to the HDFC Diners Jet Privilege card ? I am in the process of applying for that card and if any changes, would want to get it processed and fast tracked to enable me to make the first transcation using that card on or before 30th Sep

  3. I visited hdfc bank n also called customer care but they never clarified me how to encash these jp miles..now iam thinking to close this card.

  4. The best variant is Hdfc Diners black card. which gives 10X rewards for every 150 you spend through their select partners which is equal to 33% cash back in the form of reward points which is great as no other card offers this benefit.

  5. Ajay,
    * Renewal amount goes down from 4000 to 30000…* It must be a typo..
    I hope they are not putting an upper limit for earning on any of these variants.

  6. I think HDFC is getting complacent. There are better card for travel with better reward/earn rate.

    I have Jet platinum and have asked for Jet diners. If they don’t upgrade, gonna close the card for good.

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