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HDFC Bank devalues Infinia and Diners Club Black Reward Points for Cash Redemption

Pranav Pranav Follow Feb 21, 2020 · 2 mins read · 0 comments
HDFC Bank devalues Infinia and Diners Club Black Reward Points for Cash Redemption

HDFC Bank has devalued the reward points for their super premium credit cards, Infinia and Diners Club Black, for cash redemptions by 40%. HDFC Bank enabled the redemption of reward points for cash last year to cater the customers who don’t travel a lot. This devaluation comes as a shock to many as HDFC Bank took this step without informing the customers in advance. Let’s look into the details of this devaluation.

Reward Point Value

Below table summarizes the current and previous value of 1 reward point of Infinia and Diners Club Black Credit Cards when redeemed for cash.

Credit Card Current Previous Devaluation
HDFC Infinia Rs. 0.30 Rs. 0.50 40%
HDFC Diners Club Black Rs. 0.30 Rs. 0.50 40%

The cash redemption value of other premium credit cards’ reward points remain intact as illustrated below:

Credit Card Cash Redemption Value
HDFC Diners Club Privilege Rs. 0.20
HDFC Regalia Rs. 0.20
HDFC Diners Club ClubMiles Rs. 0.20
HDFC Regalia First Rs. 0.20

Bottomline

HDFC Bank is bleeding a lot with 10X Rewards Program and this seems to be a measure to control it. The 40% devaluation overnight is a huge shocker and I wish HDFC Bank should have informed the customers in advance about this change. I really appreciate Amex for their transparency as they inform customers in advance about the devaluations.

The redemption value of other premium credit cards’ reward points remain intact for now. I feel this is mostly because HDFC Bank has already put restrictions on redemption of reward points for these cards sometimes back. The redemption value of reward points for flights and hotels on SmartBuy is not affected for Infinia and Diners Club Black and it remains same. However HDFC Bank may already be cooking another set of devaluation/restrictions for their credit cards, who knows?

Thanks to Pankaj for sharing this update.

What do you think of this devaluation of reward points of Infinia and Diners Club Black Credit Cards by HDFC Bank? Let me know in comments below.

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Pranav
Written by Pranav Follow
Hi, I am Pranav! I love to acquire, review and earn reward points/cashback from Credit Cards. Guiding people about benefits and optimal utilization of credit cards for years.
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