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No rewards for rent payment on HDFC Bank Credit Card

No rewards for rent payment on HDFC Bank Credit Card
By We Play Coins
Added on Dec 01, 2022

HDFC Bank has announced evision in the Reward Points Program & Fee structure on Credit Cards w.e.f 1st January 2023.

1.On the HDFC Bank SmartBuy portal, the redemption of Reward Points for flights & hotel bookings will be capped at 75,000 Reward Points per calendar month.
2.Redemption of Reward Points against statement balance (CashBack redemption) will be capped at 50,000 Reward Points per calendar month w.e.f 1st February 2023.
3.Rent payments and government transactions will NOT earn Reward Points.
4.Reward Points earned on grocery transactions will be capped at 2000 Reward Points per calendar month.
Revision in the Fee structure w.e.f 1st January 2023:
1.For rent payments made through third-party merchants, a fee of 1% of the total transaction amount will be levied from the second rental transaction of the calendar month.
2.If you conduct a transaction (in-store or online) in Indian currency at an international location or with a merchant located in India but registered overseas, a dynamic & static conversion markup fee of 1% will be charged.

In a nutshell you will not get any reward points on rent payment and you will additionally pay 1% transaction fees if you make multiple rental payment transactions. There is more and more caps on rewards and there might be future reward point de-valuation as well.

What is you opinion on this change?
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