HDFC Bank has been cornering interest from the Indian credit card market with its aggressive posturing in the market. Ever since it got back on the market after the lift of the RBI Embargo, HDFC Bank has issued over 400,000 credit cards already and re-launched three credit card products. However, as I mentioned earlier, HDFC Bank skipped on the (re)launch of a metal form factor card which was scheduled to be a part of the original announcement.
HDFC Infinia to be issued as a Metal Form Factor card going forward
While this is still to be officially announced by the Bank and will most probably be offered from next week onwards, HDFC Bank Infinia will now on have a new form factor, a metal card, which looks strikingly similar to the Chase Sapphire range in the USA.
Update: The Infinia Metal Edition is now live, and the only edition available for the Infinia going forward.
Here are some of the features of the new Infinia:
- Complimentary Club Marriott membership in the first year (existing feature)
- 1+1 complimentary buffet on weekends at participating ITC Hotels
- 2+1 complimentary nights at participating ITC Hotels
- 1:1 Rewards Redemptions for Tanishq vouchers and Apple products
All these features will be valid for the existing PVC Card as well (the plastic card). However, with a change in the form factor, a couple of new changes will be introduced. The fees will be INR 12,500+GST going forward for the metal card. If you choose to keep your existing card in plastic, you keep the old fee till the metal card comes around for you. (Update: The 2X points on Dining benefit on Infinia Plastic will go away from December 1, 2021, onwards as well.)
Secondly, for a cardmember to get the fee waiver going forward, HDFC Bank will ask for a minimum spend of INR 10 Lakhs going forth, which is 25% more than the INR 8 Lakhs minimum spend per annum for now.
I see this as a very good update on the card, on very reasonable terms. Infinia has been one of the most sought after credit cards in India, largely due to its excellent reward ratios. So, for a small update in the fee, perhaps to cover the cost of the metal card, the card will now offer much more for the travel and lifestyle consumers.
The upgrade for existing cardmembers has already been rolled out to some cardmembers via net banking. If you swap to the new card, your points will be carried forward 1:1
HDFC Bank Infinia has transitioned to a metal form factor with added features. ITC Hotels will offer complimentary room nights and 1+1 on Buffets for the cardmembers, the fee goes up 25% and the minimum spends for a free card also go up 25%.
What do you make of the HDFC Bank Infinia refresh? Would you go for it as an existing customer?
(The initial version of this article was posted on October 1, 2021. An updated version has been posted on October 18, 2021 as the Metal Edition card has gone live)
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