HDFC Bank is reducing rewards on its Infinia credit card, one of its most premium offerings. Starting tomorrow, January 16, the points multiplier on SmartBuy voucher purchases will fall from 5X to 3X.
This means cardholders will earn fewer points on these transactions, changing the way many have been using the card to get the most value.
The base earn rate of 5 points per Rs 150 on everyday spending remains unchanged. So normal purchases won’t be affected. But for those who relied on SmartBuy vouchers to earn accelerated rewards, the benefits will now feel smaller.
Voucher Points Now Give Less
Previously, spending Rs 150 on SmartBuy earned 5 points, which were then multiplied by 5X for vouchers. That gave 25 points per Rs 150, making the rewards feel very generous. Under the new 3X system, the same spend will now earn 15 points.
In simple terms, the effective return on vouchers drops from around 16.67 per cent to about 10 per cent before fees. Cardholders who used these vouchers as a key way to maximise rewards will notice the change immediately.
Other Banks Are Tightening Rewards Too
HDFC is not the only bank revising perks. Across the industry, reward programs are being adjusted to manage costs. ICICI Bank recently announced changes effective January this year. Its popular BookMyShow Buy-One-Get-One offer will now have conditions.
Additionally, a 1 per cent fee will be charged on wallet-loading transactions of Rs 5,000 or more. These changes are said to be rolled out in phases between January and February 2026 for all retail credit card customers.
Debit Card Benefits Are Also Changing
HDFC has updated debit card lounge access, too. Cardholders now need vouchers and higher minimum spends to access lounges, instead of the earlier physical swipe system. This shows a broader trend where banks are refining benefits to control costs while still offering premium perks.
Infinia Still Has Premium Perks
Even with the reduced voucher points, Infinia remains a high-end card. Travel perks, concierge services, and solid base rewards on regular spends are still available. However, the cut in accelerated rewards for vouchers reduces one of the card’s most talked-about ways to earn extra points.
