HDFC Bank revamps credit card rewards: How it affects you?
What's the story
HDFC Bank has announced significant changes to its Regalia Gold and Diners Club Privilege credit cards. The revisions, which will come into effect on May 15 and July 1, respectively, are aimed at making rewards more spend-driven and also introducing new travel-linked features. The move marks a shift toward usage-based benefits and conditional rewards for customers.
Reward changes
Regalia Gold cardholders to see base reward points change
From May 15, HDFC Bank will revise the base reward points structure for Regalia Gold credit cardholders. Customers will now earn five reward points for every ₹200 spent, instead of four points per ₹150 earlier. This change effectively lowers the reward accrual per rupee spent. However, accelerated rewards on specific categories will continue unchanged.
Fee hike
Increased charges for international transactions and card reissuance
HDFC Bank will also increase the Dynamic Currency Conversion (DCC) fee to 1.75% for international transactions done in Indian rupees. This is applicable for the spends made abroad or with foreign merchants billing in INR. A charge of ₹199 shall also be levied for card reissuance in case of loss, theft, or damage.
Access alterations
Changes in domestic lounge access for Regalia Gold users
From July 1, the complimentary domestic airport lounge access shall no longer be unconditional for either Regalia Gold or Diners Privilege cardholders. For Regalia Gold users, the existing benefit of three domestic lounge visits per calendar quarter will now need spending ₹60,000 in the previous quarter. However, international lounge access through Priority Pass remains unchanged without any spending requirement.
Spending requirement
Diners Privilege customers will receive 3 lounge access vouchers
Diners Privilege customers will also have to meet a quarterly spending of ₹60,000 for lounge access. On meeting this threshold, users will get three lounge access vouchers: two for domestic lounges and one for international use. These shall have to be generated via the SmartBuy platform, and presented with a QR code at participating lounges. No vouchers will be issued if the spending condition isn't met.
New initiative
New Travel Edge program launched for Regalia Gold users
Along with these changes, HDFC Bank is launching the Travel Edge Program for Regalia Gold cardholders. The feature lets the customers avail any two complimentary benefits per calendar quarter by uploading their boarding pass. The offerings comprise complimentary spa sessions, buffet meals at the partner hotels, airport transfers via Uber (up to ₹750 per ride), and also room upgrades at select hotels.