HDFC Bank introduces new reward point rules for certain cards from 1 Oct
Source: Business Standard
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Effective October 1, 2024, HDFC Bank has limited reward point redemptions for its premium for Infinia and Infinia Metal credit cards.
Key Changes:
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Apple Products: Infinia and Infinia Metal cardholders can now redeem reward points for only one Apple product per calendar quarter on the SmartBuy platform. Previously, there was no limit. According to the HDFC Bank website, “On the HDFC Bank SmartBuy portal, redemption of Reward Points for Apple Products is capped at one product per calendar quarter, effective October 1, 2024.” The quarters are defined as follows: April to June, July to September, October to December, and January to March.
Tanishq Vouchers: The redemption of reward points for Tanishq vouchers is now capped at 50,000 points per calendar quarter for Infinia and Infinia Metal cardholders.
On the HDFC Bank SmartBuy portal, redemption of Reward Points for Tanishq vouchers will be capped at 50,000 Reward Points for every calendar quarter, starting October 1st, 2024. Calendar quarters: April to June, July to September, October to December, January to March. This applies only to Infinia & Infinia Metal Cards.”
Impact on cardholders:
These changes may affect the redemption options for cardholders who frequently purchase Apple products or Tanishq vouchers using reward points. It is advisable for cardholders to review their reward point balances and redemption options to plan their spending accordingly.
Other Changes:
Utility Transactions: Reward points earned from utility transactions are capped at 2,000 points per calendar month.
Telecom & Cable Transactions: Reward points from telecom and cable transactions are also capped at 2,000 points per month.
HDFC Bank Infinia Metal Edition Details:
Membership Fee: Rs 12,500 + applicable taxes, with 12,500 reward points awarded upon activation. Spend ₹10 lakh or more in the previous year to have the renewal fee waived.
Eligibility: Membership is by invitation only.
First Published: Oct 02 2024 | 9:48 AM IST
