HDFC Bank has announced changes that will impact the way customers earn and redeem reward points across various categories. The new rules, set to take effect on September 1, 2024, were communicated to customers via email.

New caps on reward points

Starting September 1, 2024, HDFC Bank will introduce caps on reward points earned through specific spending categories.

Customers will face the following limitations:

Utility transactions: Reward points earned on utility transactions (MCC Code 4900) will be capped at 2,000 points per calendar month.

Telecom and cable transactions: Reward points for telecom and cable transactions will also be capped at 2,000 points per calendar month.

Additionally, customers making education payments through third-party apps, such as CRED, Cheq, and MobiKwik, will not earn reward points.

However, direct payments to educational institutions via their websites or POS machines will continue to accrue points.

The bank also clarified that certain business credit cards, including BizBlack Metal Card, BizPower, and others, will not earn points on education-related transactions.

Impact on co-branded and premium cards

These changes will apply to all HDFC Bank credit cards that offer rewards, including co-branded cards like Swiggy and TataNeu, as well as premium offerings such as Infinia.

Changes in redemption limits

HDFC Bank has also announced new redemption limits for reward points used for purchasing Tanishq jewellery and Apple products.

Effective October 1, 2024, Infinia cardholders will be restricted to redeeming a maximum of 50,000 reward points per calendar quarter for Tanishq vouchers.

The quarters are defined as follows: January-March, April-June, July-September, and October-December.