HDFC Bank has introduced major changes to its SmartBuy rewards platform, effective July 1 onwards. The lender has introduced a separate monthly cap on rewards earned via brand vouchers.
This monthly cap applies on reward points earned through brand vouchers bought via SmartBuy partners such as GyFTR and Woohoo. Prior to this, gift voucher purchases were included in the overall monthly SmartBuy rewards cap. From now on, voucher purchases will have a separate lower ceiling.
According to the latest rules, brand voucher purchases will have a maximum limit of 3,000 reward points per calendar month for major premium HDFC credit cards. The reward limit will be a part of the overall SmartBuy reward cap provided on every card.
This move is expected to impact from cardholders including Infinia and Diners Club Black as SmartBuy Gift vouchers have been mostly used to earn rewards by buying vouchers for Amazon, Flipkart, Swiggy, Zomato, BigBasket, Blinkit and other platforms. Purchases made through these platforms are likely to be less rewarding.
Notably, the total SmartBuy caps will stay unchanged at 15,000 points for Infinia, 10,000 points for Diners Black Metal, and 4,000 points for Regalia Gold. Of this only 3,000 points, however, fall under brand voucher purchases. The rest of rewards points that must be earned via other SmartBuy categories such as travel bookings or eligible merchant partners.
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