HDFC Bank devalues its credit cards: How it affects you
What's the story
HDFC Bank has announced a series of changes to the benefits associated with its Regalia Gold and Diners Privilege credit cards. The revisions, some of which were effective from May 15 while others will come into effect from July 1, include reduced base reward accrual rates and increased fees for certain services. The changes also include conditional airport lounge access based on quarterly spending.
Revised benefits
Increased DCC fee and card reissuance charge
Under the new benefits structure for Regalia Gold cards, customers will now earn five reward points for every ₹200 spent. Earlier, they earned four points for every ₹150 spent. The bank has also hiked the Dynamic Currency Conversion (DCC) fee to 1.75% on the international transactions billed in Indian rupees, and introduced a ₹199 card reissuance fee in case of loss or damage.
Lounge access
Spend-linked domestic lounge access
From July 1, the complimentary domestic airport lounge access for Regalia Gold and Diners Privilege cardholders will be spend-linked. Customers will have to spend ₹60,000 in the previous calendar quarter to avail lounge visits in the next quarter. Eligible Regalia Gold customers shall continue to get three complimentary domestic lounge visits per quarter on direct card swipe, while international lounge access through Priority Pass remains unchanged.
Travel perks
New 'Travel Edge' program
Along with these changes, HDFC Bank is also launching a new "Travel Edge" program for its Regalia Gold customers. The initiative shall offer travel-related perks such as airport transfers, hotel dining benefits, spa access, and room upgrades. However, such benefits will be subject to boarding pass validation and voucher issuance.