HDFC Infinia credit card trims voucher returns as 5X points drop to 3X

Users of premium card face a sharp dip in loyalty value as company slashes accelerated rewards on its popular lifestyle voucher portal

HDFC Bank will from January 16 cut reward points provided by its premium Infinia credit card, impacting customers who use the service to buy vouchers for travel and lifestyle products.

 

Infinia cardholders will earn three times (3X) points on brand voucher purchases made on SmartBuy platform, down from the earlier five times (5X), according to updated reward programme terms published by the bank on its website.

 

Infinia cardholders previously earned a base rate of five reward points for every Rs 150 spent, which was then multiplied five times on SmartBuy voucher purchases. This translated into 25 reward points per Rs 150, delivering an effective reward rate of nearly 16.7 per cent before fees.

 

With the revised 3X multiplier, the same transaction will now fetch 15 reward points per Rs 150, bringing the effective return closer to 10 per cent. The base earning rate on regular retail spending remains unchanged, but the reduction makes voucher purchases relatively less rewarding than before.

 

HDFC Bank said that from January 16 Infinia cardholders will earn “3X accelerated reward points on brand voucher purchases from Gyftr via SmartBuy”.  ALSO READ | Sharing your credit card with friend or family? The hidden risks are costly

Key reward rules cardholders should remember

 

According to the HDFC Bank’s updated reward points terms and conditions:

• Fuel, wallet-loading and EasyEMI transactions do not earn reward points.
• Insurance transactions are capped at 10,000 reward points per month.
• Reward points expire after three years from the date of accrual.
• Maximum reward points per statement cycle for Infinia cards are capped at 2,00,000.
• Redemptions on travel and select luxury products are capped at 70 per cent of the booking value.

Despite the reduced SmartBuy acceleration, Infinia continues to offer premium benefits such as strong base rewards on everyday spending, travel privileges and concierge services. However, the latest change clearly signals that outsized gains from voucher-led reward strategies will be harder to achieve going forward.

 

Premium cards still deliver value, but the era of exceptionally generous reward arbitrage is steadily narrowing.