Overnight, HDFC Bank has added a new card to their Diners Club card portfolio, which sits below its Diners Club Black credit card, but above the Rewardz and Premium Credit cards issued by them.
HDFC Bank Diners Club ClubMiles
The new credit card seems identical to the Premium Credit Card but differentiates with Gold embossing as compared to the silver one on the Premium CC. HDFC Bank has developed this one as some sort of a hybrid in between for those who would rather transfer miles and not use them on their own portal.
Think of it as HDFC Bank Diners Club Premium on Turbocharge. And the hint about the focus on Mileage partners shows in the name ClubMiles.The Premium also earns you 4 Reward Points per INR 150 spent and so does the ClubMiles Card.
HDFC Bank Diners Club ClubMiles Redemptions
The differences to Premium start coming in once redemptions come into play.The Premium Card only allows you to transfer to Jet Airways and Singapore Airlines Kris Flyer, that too on a 0.5Miles:1 RP ratio. However, this new card allows you to transfer to 5 transfer partners, including the newly added ones, all at a 1:1 ratio.
But, if you wanted to redeem your miles for tickets on the HDFC Bank Diners Club portal, you still get an INR 0.5 Value per reward point out of it.
HDFC Bank Diners Club ClubMiles Lounge Access
In terms of lounge access, you get 6 free trips per annum to any of the Diners Club lounges in India or abroad, which is similar to the new policy on HDFC Premium Card as well.
In terms of eligibility, this card actually requires you to be only earning INR 6 Lakh per annum, which is slightly lower than the Premium version which asks of INR 7.2 Lakhs from you. Also, it is cheaper at INR 1000 per annum fees as compared to the Premium Card.
This card comes as a huge sigh of relief to me. I read that HDFC Bank is very much interested in growing their Diners Club card portfolio at this moment. They are launching new transfer partners and new products, so this indicates to me that the cycle of devaluations has finally come to an end for them, and it is upwards from here.
Having said that, I expect this card to take over the Premium Card portfolio over a period of time, at least for those who like to use their miles for transfers rather than redeeming on the portal.
What do you think of the new HDFC Bank Diners Club ClubMiles Card? Are you going to apply for it or switch from your existing portfolio?