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Check Your Revised Benefits After HDFC Credit Card Devaluation Move

From last a few days, HDFC credit card holders are getting a message from the bank. The message is

“Dear Customer, Product features & charges are being revised for your Credit Card w.e.f 15th Aug’17, For details pls visit Credit Cards section on www.hdfcbank.com.”

In spite of this, the bank didn’t mention anything regarding what features or charges have been changing. Bank put all the responsibility on the cardholders to check the details.

If you also got the message but still didn’t check the new details, then this article makes it easy for you. In this article, you will get all the details regarding what has been changing w.e.f 15 August 2017.

Didn’t you receive any Message?

Don’t lose hope, you will get early soon 😉

Revision Brings Devaluation of the Benefits

HDFC devalued the reward points and other benefits on 6 credit cards. The other credit cards except these 6 will keep continuing the same features even after 15 August 2017.

  • HDFC Regalia Credit Card
  • Regalia First Credit Card
  • MoneyBack Credit Card
  • Diners Club Black Credit Card
  • HDFC Diners Rewardz Credit Card
  • HDFC Diners Premium Credit Card

These are the most popular credit cards of the HDFC. I didn’t understand the purpose of devaluation on these credit card.

You can also check the list of 13 best credit cards in India if you are planning to apply for another credit card.

(Hint: My favourite is Standard Chartered Manhattan Credit Card)

I think this would inspire to Some cardholder to get the Independence from these credit cards by switching to other credit cards.

Special Mention- 15 August is Our Independence day

Here are the HDFC Reward Points Devaluation Details

#1. HDFC Regalia Credit Card

Earlier Offer

  • 2X reward points on dining, flight book on airvistara.com hdfcregalia.com
  • Redemption value of one reward point was Rs 0.60
  • Interest Rate – 2.95% per month.
  • You can redeem your reward points for movie booking and Mobile/DTH recharge.

Present Devalued Value

  • No extra reward points on dining, flight book on airvistara.com hdfcregalia.com
  • Redemption value of one reward point reduced to Rs 0.50
  • Interest Rate – 3.49% per month.
  • Redemption Option such as Movie booking and Mobile/DTH recharge will be no longer applicable. Reward points can be redeemable against only Airline Ticket booking and Hotel booking on hdfcbankregalia.com

Read the complete review of HDFC Regalia Credit Card.

Devaluation Result on Regalia Credit card

Earlier the redemption value of regular reward points was Rs 2.40 (4 RP*0.60) & on 2X reward point category was 4.80 (8RP *0.60) per Rs 150 Spent. The percentage benefit was 1.6%  (2.4/150*100) & 3.2% .

Now, w.e.f 15 August it reduced to 1.33% (4*0.50/150*100) for every spent & there is be no 2X reward points.

hdfc regalia credit card devaluation

HDFC Regalia First Credit Card

Earlier Offer

  • 2X reward points on dining, flight book on airvistara.com hdfcregalia.com
  • Redemption value of one reward point was Rs 0.40
  • You could redeem your reward points for movie booking and Mobile/DTH recharge.

Present Devalued Value

  • No extra reward points on dining, flight book on airvistara.com hdfcregalia.com
  • Redemption value of one reward point reduced to Rs 0.30
  • Redemption Option such as Movie booking and Mobile/DTH recharge will be no longer applicable. Reward points will be redeemable against only Airline Ticket booking and Hotel booking on hdfcbankregalia.com

Devaluation Result on Regalia First Credit card

Earlier the redemption value of regular reward points was Rs 1.60 (4 RP*0.40) & on 2X reward point category was Rs 3.20 (8RP *0.40) per Rs 150 Spent. The benefit in percentage was 1.06%  (1.6/150*100) & 2.16%.

But w.e.f 15 August, the benefit is reduced to 0.80% (4*0.30/150*100) & there will be no 2X reward points.

hdfc regalia first credit card devalution

HDFC Moneyback Credit Card

Earlier Offer

  • Redemption value of reward point was Rs 0.30

Present Devalued Offer

  • Redemption value of one reward point will be Rs 0.20

Devaluation Result on MoneyBack Credit card

Earlier the redemption value of regular reward points was Rs 0.60 (2 RP*0.30) & Rs 1.20 (4RP *0.30) on 2X reward point category. The benefit in percentage was 0.40%  (0.6/150*100) & 0.80% .

But w.e.f 15 August, it is reduced to 0.27% (2*0.20/150*100) & 0.54% on online spent.

Nothing Left with the MoneyBack credit card for the cardholders.

hdfc money back credit card devaluation

HDFC Diners Rewardz

Earlier Offer

  • 2X reward points on booking flight and hotels at hdfcdinersclub.com
  • Redeem reward points at hdfcdinersclub.com for flight/ hotel booking. 1 RP = 0.75 AirMiles.
  • Redeem reward point for AirMiles across Jet Airways (JPMiles), Air India (Air India Miles), or Singapore Airlines (KrisFlyer Miles). 1 reward point = 0.75 Air Mile.
  • Double Reward Points on Grocery, Supermarket purchases, Dining and Airline Ticketing. Double Reward Points on incremental retail spends greater than Rs.10000 in a statement cycle.
  • Complimentary Lounge access at 25+ lounges in India.

Present Devalued Offer

  • Regular reward points on booking flight and hotels at hdfcdinersclub.com.
  • 1 Reward Point = 0.30 AirMile w.e.f 15 August 2017 for both redemption options.
  • Double reward points offer is withdrawn.
  • There is complimentary lounge access w.e.f 15 August 2017.

Devaluation Result on HDFC Diners Rewardz Credit card

No complimentary lounge access is the most disappointing change that HDFC make for Rewardz credit card. This is going to be a big loss for the users.

Let’s also check reward points

Earlier the redemption value of regular reward points was Rs 2.25 (3 RP*0.75) & on 2X reward point category was 4.50 (8RP *0.40) per Rs 150 Spent. The benefit in percentage was 1.50% (1.6/150*100) & 3% . But w.e.f 15 August, it will

But w.e.f 15 August, it reduce to 0.6% (3*0.30/150*100) for every spent & there is no 2X reward points category.

hdfc diners club rewardz credit card devaluation

HDFC Diners Premium

Earlier Offer

  • 2X reward points on booking flight and hotels at hdfcdinersclub.com
  • Unlimited access to domestic lounges and 5 complimentary accessed to international lounges in a calendar year.
  • Redeem reward points at hdfcdinersclub.com for flight/ hotel booking. 1 RP = 0.75 AirMiles.
  • Redeem reward point for AirMiles across Jet Airways (JPMiles), Air India (Air India Miles), or Singapore Airlines (KrisFlyer Miles). 1 reward point = 0.75 AirMile.
  • Complimentary golf lessons.

Present Devalued Offer

  • Regular reward points on booking flight and hotels at hdfcdinersclub.com
  • 6 domestic/international lounges access in one calendar year.
  • 1 Reward Point = 0.50 AirMile w.e.f 15 August 2017 for both redemption options.
  • No complimentary golf lesson w.e.f 15 August 2017.

Read the complete review of HDFC Diner Credit Card

Devaluation Result on Diners Premium Credit card

Like Diners Rewardz credit card, there will be no longer unlimited lounge access on Diners Premium credit card.

Reward points calculation.

Earlier the redemption value of regular reward points was Rs 3.0 (4 RP*0.75) & Rs 6.0 (8RP *0.75) on 2X reward point category. The benefit in percentage was 2% (3/150*100) & 4% . But w.e.f 15 august, it will reduced to 1.33% (4*0.50/150*100) & 2.67 (8*0.50/150*100) On 2X category.

But w.e.f 15 august, it reduce to 1.33% (4*0.50/150*100) & 2.67 (8*0.50/150*100) On 2X category.

hdfc diners club premium credit card devaluation

HDFC Diners Club Black Credit Card

Earlier Offer

  • 2X reward points on hdfcdinersclub.com
  • Complimentary golf lessons.
  • Unlimited complimentary golf games.

Present Devalued Offer

  • No 2X reward points on spent on hdfcdinesclub.com.
  • No complimentary golf lesson.
  • 6 complimentary golf lesson per quarter.

Special Mention – There is no change in the redemption value of reward points earned on Diners Black Credit card. This could be to bring more cardholders towards the Diners Black as compare to other Diners club variants.

Business Regalia & Business MoneyBack Credit Cards Become More Valuable

There was no difference in terms of benefits between the Regular & Business variant of Regalia & MoneyBack credit cards. But w.e.f HDFC devalued the benefits only on the regular variant of these two credit cards. The Business cards have the same features as they have prior to 15 August 2017.

This makes Business variant more valuable for the cardholders. In the case a person has the choice to choose between the regular or business card, he/she should go for a business card.

Bonus Information

Along with the above, HDFC also made some changes in other terms related to reward points. These changes enforced from 1 July 2017 & applied on all the HDFC credit cards. These are

  • EasyEMI and e-wallet loading transactions will not accrue any reward points or miles.
  • Reward Points or JPMiles accrued will be reversed if a retail transaction is converted into SmartEMI.
  • JPMiles or Reward points accrued for Insurance transactions will have a maximum cap of 2,000 per transaction.

Hdfc reward points devaluation

Redeem Your Reward Points Before 15 August 2017

The revision will not only affect your future earning but also to your present held reward points. Post redemption will be based on the revised rate. This is going to a big loss for the cardholders.

In short, if you redeem reward points after 15 August, the redemption value will be the devalued return irrespective of the accrual time.

Let’s compare the redemption for 50,000 reward points.

Hdfc reward points devaluation

You can clearly see the loss that you have to incur.

What should you do?

It is advisable that you should redeem your held reward points prior to 15 August as soon as possible. Otherwise, you have to sacrifice a big portion as reduced redemption value.

Future Expectations From HDFC

Frankly speaking, I am not expecting anything good will happen with the HDFC credit card holders in future. If you look at the past trends, you will notice a regular devaluation in the benefits. Due to this, there are many chances of replication of the same thing which would make HDFC credit cards of no use.

If you are thinking of applying for an HDFC credit card, then you should keep this in mind.

Write your views regarding this devaluation in the comments & keep visiting CreditFrog for more information.

  • Updated August 18, 2017
Raghav Gupta
 

I keep the track on latest deals and offers on Credit Card. I love to share my credit card research work with CreditFrog audience.

Click Here to Leave a Comment Below 3 comments
Anil - August 18, 2017

It is really sad to see today that I cant do recharge or book today from hdfc ragilia card website, now I have useless coupon work 1500 and remaining points.

Reply
Atha - October 14, 2017

Thanks for the article. Very informative.

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