Reward Points Capped on Utilities & Rent
HDFC Bank announced a strict cap of 2,000 reward points per month on utility bill payments and completely eliminated reward points for rent and education payments.
Massive Milestone Benefit Devaluation
The popular 25,000 EDGE reward points milestone on spending ₹1 Lakh in a month has been completely scrapped. Transfer ratio to airline partners reduced from 5:4 to 5:2.
Lounge Access Removed & Cashback Capped
Complimentary domestic lounge access was removed. Furthermore, the maximum 5% cashback limit per billing cycle was reduced from ₹10,000 to ₹5,000.
Lounge Access Spend Criteria Introduced
To avail complimentary domestic lounge access, cardholders must now spend a minimum of ₹20,000 in the previous calendar month. Base reward structure was also modified.
Rewards on Utilities Halved
The 2% cashback for Amazon Prime members on utility bill payments and recharges was reduced to 1%. Non-prime members also saw similar cuts.