HDFC Bank Credit Cards: New rules on caps, redemption of reward points effective in next two months

Credit card rules: HDFC Bank has tweaked the rules on how customers will earn and redeem reward points across various categories. Starting September 1, 2024, HDFC Bank will introduce caps on reward points earned through specific spending categories. These changes were conveyed to the customers through email. The rule changes will range from utility transactions to monthly payments like telecom services, and others. 

Here are the new rules for reward points

1. Reward points earned on utility transactions (Merchant Category Code 4900) will be limited to a maximum of 2,000 points per calendar month.

2. Telecom and cable transactions: Similarly, reward points for telecommunications and cable transactions will be capped at 2,000 points per calendar month.

3. Education payments via third-party apps: Furthermore, customers utilising third-party apps like CRED, Cheq, and MobiKwik for education payments will not accrue any reward points. Payments to educational institutions made through their websites or POS machines will continue to accumulate points. 

It is important to note that specific business credit cards such as BizBlack Metal Card and BizPower, among others, will not be eligible to earn points for transactions related to education. This will be effective from September 1.

These modifications will affect all HDFC Bank credit cards providing rewards, encompassing co-branded options such as Swiggy and TataNeu, along with exclusive offerings like Infinia.

Changes from October 1, 2024

From October 1, 2024, the updated redemption limits for reward points when purchasing Tanishq jewelry and Apple products will also come into effect.

Under this, Infinia cardholders will have a cap on redeeming a maximum of 50,000 reward points per calendar quarter specifically for Tanishq vouchers.

The quarters for these redemption limits are categorized as January-March, April-June, July-September, and October-December.

Changes done this month

Changes in rental payments

From August 1, HDFC Bank revised the terms and charges associated with its credit card services. These modifications primarily pertain to rental payments, educational expenditures, and various transaction classifications.

Rental transactions:

As per the revised rules on rental payments processed through third-party applications like PayTM, CRED, and MobiKwik, these transactions will now incur a 1% fee, with a maximum limit of Rs 3,000 per transaction.

Educational transactions:

In India, educational transactions conducted via third-party apps such as CRED and PayTM will be charged a 1% fee, capped at Rs 3,000 per transaction. However, international educational payments and transactions made directly through educational institution websites or their POS machines are exempt from this additional charge.

Utility payments:

Transactions below Rs 50,000: No additional charges apply.
Transactions exceeding Rs 50,000: A 1% fee will be imposed, with a maximum cap of Rs 3,000 per transaction.
Importantly, insurance-related transactions are exempt from these revised fees.