Credit card rewards perks slashed by HDFC, SBI, Axis bank; Know what has changed
SBI Card, HDFC Bank and Axis Bank have announced changes in its reward structures. Here is all you know about the revision.
Credit card rules change
Leading Indian credit card issuers such as SBI Card, HDFC Bank and Axis Bank have announced revisions in reward structures, tightened redemption rules and linking key benefits to spending behavior. It is imperative that cardholders stay updated with regards to credit card rules to avoid unexpected charges and manage their financial health better.
SBI Card tightens redemption flexibility
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SBI Card has updated the redemption policy for its popular Cashback SBI Card from April 1, 2026. Statement credit redemption for select credit cards can now be made only in multiples of 4,000 reward points. Monthly redemptions are restricted to 60,000 points across several cards. The cashback structure has also been tightened with lower ceilings, faster cap exhaustion and more excluded categories.
Axis Bank update travel benefits
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Axis Bank has released a significant update to its Travel Edge rewards program for credit cards. The update focuses on the removal and addition of transfer partners, revision in reward conversion ratios and continuation of caps and transfer rules.
Axis Bank loyalty programmes
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The Bank has discontinued three major loyalty programmes of Accor Live Limitless, Marriott Bonvoy and Qatar Airways Privilege Club. The removal reduces high-value redemption options, particularly for consumers who rely on hotel point transfers.
HDFC updates rewards
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HDFC Bank has announced several changes to its Regalia Gold and Diners Club Privilege credit cards, effective May 15, 2026. Now, Regalia Gold users will earn 5 reward points for every Rs 200 spent compared to the earlier 4 points per Rs 150. The existing benefit of three domestic lounge visits per calendar quarter will now require spending Rs 60,000 in the previous quarter.
HDFC Bank dynamic currency conversion fee
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The bank will also increase the dynamic currency conversion fee to 1.75 percent on international transactions and a Rs 199 fee for card reissuance. For Diners Club Privilege customers, lounge access will also be linked to quarterly spending of Rs 60,000.
HDFC Bank Travel Edge Program
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The bank is also introducing the Travel Edge Program for Regalia Gold cardholders which allows customers to avail any two complimentary benefits per calendar quarter by uploading their boarding pass. The offerings include complimentary spa sessions, buffet meals at partner hotels, airport transfers and room upgrades at select hotels.
Credit card rules change April 2026
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Industry experts believe that the change is a part of larger recalibration by banks to strike a balance between customer acquisition and profitability. Experts say that the updates made by the banks are being pushed by rising costs associated with reward programs and increasing credit card adoption in India.
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