HDFC Bank has revised the reward structure of its SmartBuy platform by introducing a separate monthly cap on accelerated reward points earned through brand voucher purchases. The new rules came into effect on July 1 and apply to vouchers purchased through SmartBuy partners such as Gyftr and Woohoo.
The revision impacts several HDFC Bank credit cards, including Infinia, Diners Black, and Regalia, and is expected to affect customers who regularly purchase shopping and gift vouchers through SmartBuy to maximize reward points. The updated limits have been published on the bank’s SmartBuy website, although the bank has not issued a separate customer announcement or press release.
Earlier, cardholders could use most or all of their monthly SmartBuy reward limit through brand voucher purchases. Under the revised structure, brand vouchers now have a separate monthly reward cap, while the overall monthly SmartBuy reward limit remains unchanged.
For example, Infinia cardholders can now earn a maximum of 3,000 accelerated reward points per calendar month through brand vouchers, even though the card’s overall monthly SmartBuy reward cap continues to be 15,000 reward points. The voucher limit is included within the overall monthly cap and is not an additional allowance. Existing daily accelerated reward caps will also remain applicable.
The change mainly affects customers who purchase vouchers for brands such as Amazon, Flipkart, Swiggy, Myntra, and other retailers through SmartBuy to maximize rewards. For instance, if an Infinia cardholder earns 3,000 reward points from brand vouchers, they can still earn another 12,000 reward points through eligible SmartBuy categories such as hotel bookings to reach the monthly limit of 15,000 points. However, if they have already accumulated 14,985 reward points from other SmartBuy transactions, a brand voucher purchase will earn only 15 additional points before the monthly cap is reached.
Commenting on the change, Ashish Lath, Founder & CEO, SaveSage, said, “The HDFC SmartBuy devaluation is a clear signal that credit card rewards in India are becoming more dynamic and less predictable. Moves like this show that the smartest credit card strategy is no longer about relying on a single card. Instead, it is about having the right mix of cards and redemption options.”
From July 1, HDFC Bank has also revised the eligibility criteria for complimentary domestic airport lounge access on select credit cards. Cardholders must now spend at least ₹60,000 in the previous calendar quarter to receive 3 complimentary domestic lounge visits in the following quarter. Additionally, SBI Card has introduced monthly reward point caps for its PhonePe SBI Credit Card PURPLE and PhonePe SBI Credit Card SELECT BLACK, while expanding the list of transactions that no longer qualify for reward points.
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