HDFC Bank 10x Smartbuy Update
HDFC Bank Smartbuy has been renewed today for a period of 1 month till 30 June 2019. While this is welcome news for all Diners Club & Infinia credit card holders (33% Cashback anyone?), there has been a major devaluation impacting all of us.
The earlier limit on Diners Black & Infinia was 25,000 Reward Points per calendar month which has now been devalued to 5,000 for Diners Black (80% devaluation in terms of maximum earning capacity) and 15,000 for Infinia (40% devaluation). While this was expected, the timing does seem a bit surprising with Diners Black being heavily advertised for 10x rewards and smartbuy in our alumni circles. Anyway, truth be told, the offer was too good to last anyway. It would have been better to bring down the 10x to 5x and keep that reward points cap the same (One can always dream right). Let’s just pray the 10x rewards program of Diners Black continues to be extended.
The Infinia is still 3 times better than Diners Black in terms of earning capability but does not offer the 10x rewards program. You will need to account for your spending pattern and make an informed choice (if eligible for both). In preparation for this upcoming devaluation and the Jet Airways fiasco, I have been trying to upgrade my HDFC Jet Word Credit card to Infinia. However, it seems you cannot keep Infinia and Diners Black together without a special approval which has been a bit difficult to get for me. In addition, the income eligibility requirement for Infinia is even more steep at INR 3 lacs net pay per month vs only 1.75 for Diners Black.
Another area where HDFC has tightened the noose is that this offer is now only available to PayZapp (HDFC Bank’s Payment App) KYC Registered customers only. While this is not so much of a bother, I am sure many loyal users will simply not be registered with PayZapp and end up spending and not even earning the reward points. With multiple rules (30 days for 10x, 90 days for smartbuy) its anyway very difficult to tally your points on an accurate basis consistently for a long time. So please be extremely careful and register with PayZapp!
Diners Black was the best premium credit card in India by a mile for an extremely long time. I guess a lot of spending will now definitely shift to Citi Prestige (2x on International Spends) and Amex. What do you think ?
Update: HDFC Seems to have gone about on a U turn for the second time in a row on the same day itself. The reward points limit for Infinia is now at 25,000 points per month (no devaluation) and for Diners Club Black is now at 15,000 points per month (40% devaluation).
You May Also Like
Citi Prestige – The best credit card for Airline Miles and International Spends in India
HDFC Bank SmartBuy Update – 33% Cashback on Train Tickets
