HDFC Bank has long been the largest credit card issuer in India and a pioneer in developing HNI credit card products in India. They also became the largest credit card issuer in India and have maintained their position for a very long time. But there has been a strategic shift in the market over time (since 2020 – 21), one in which people began accumulating credit cards without using them. HDFC Bank was running with its hands tied at the time due to an RBI ban on issuing new cards.
Since then, the market has evolved, with Axis Bank stepping up and withdrawing, and Citibank withdrawing from the Indian market altogether after selling its retail business to Axis Bank. ICICI Bank considered how it might be left out, so it launched Emeralde Private Metal. HSBC, one of the few foreign banks in India, is trying to replace Citi as the preferred choice (and has created a resurgence in its credit cards and HNI business like never before).
In all of this, HDFC Bank went through the motions as a consistent card issuer and a top choice for everyone. The bank has also kept the Infinia as an invite-only card, meaning the Bank gets to decide whether you get it. But in exchange, there has been consistency in the product and no knee-jerk course corrections. Infinia saw some corrections announced in February 2026. Now, the second tier of HDFC Bank Credit Cards, i.e., the Mid-Premium Cards have changes coming up.
HDFC Bank changes the points accumulation effective May 15, 2026
HDFC Bank’s BizPower Credit Card and Regalia Gold will see the points accumulation change from 4 Reward Points/INR 150 spent to 5 Reward Points/INR 200 spent, resulting in a very minor change to the points multiple. Eligible transactions include all spends excluding fuel, wallet, rent, education and EMI.
BizPower’s Quarterly Milestone Benefit Elevated effective July 1, 2026
HDFC Bank’s BizPower Credit Card will also see the milestone changes. So far, all Biz Power credit card members could avail a Complimentary Gift Voucher worth INR 2,500 from MakeMyTrip/Reliance Digital on quarterly spend of INR 2.5 Lakhs & above per calendar quarter. This has been doubled to INR 5,000 worth of MakeMyTrip/Reliance Digital voucher for quarterly spend of INR 2.5 Lakhs (excluding fuel, IT, GST, and EMI transactions) & above per calendar quarter.
BizPower’s Accelerated Reward Points elevated
BizPower will see a change in how the 5X Accelerated Reward Points are granted. So far, the 5X Accelerated Rewards were provided on a minimum of INR 25,000 spend on:
- Hotel and flight bookings via MMT MyBiz (powered by HDFC Bank’s SmartBuy BizDeals)
- Bill Payment via HDFC Bank’s Payzapp & SmartPay
- Income Tax and Advance Tax payment via eportal.incometax.gov.in
- GST payment via payment.gst.gov.in
- Purchase of Business Software like Microsoft Office 365, AWS, Azure, Tally, etc., through SmartBuy BizDeals – Nuclei
- Spends made on Google Ads
- Spends on Reliance Digital
Now, this excludes the tax payments to provide the accelerated reward points. Effective May 15, 2026, spending INR 25,000, excluding IT and GST Spends, will kick off the Accelerated Spends 5X points for the month. However, to compensate, 5X points (actually the 4X extra points) have been elevated to 7,500 RPs from the current 5,000 RPs.
All PayZapp transactions will be eligible for Accelerated Reward Points except spends on Clubs, Housing, Rent, Hospital, Education, Donation, Mutual funds, Loans, Credit Card payments, and Wallet Load.
BizPower’s Fair Usage Capping on IT and GST transactions
A new policy is also being implemented as of May 15, 2026. To safeguard BizPower rewards for genuine business usage, Reward Points (5 RP/INR 200 spent) will be awarded for the first 2 Income Tax transactions and the first 2 GST transactions per billing cycle. Any additional transactions beyond these will not earn Reward Points.
I support any issuer moves to curb misuse, so this is a win for me.
Lounge Benefits to be linked to spending and more evenly spread
All three cards, BizPower Credit Card, Diners Club Privilege, and Regalia Gold, will see a new lounge access requirement.
- BizPower Credit Card customers shall receive 2 domestic airport lounge visits per calendar quarter (8 per annum), down from the current 16 per annum. Also, the change will mean there is a limit on the number of lounge visits per quarter, rather than in a lump sum. This rolls out in the July – September 2026 quarter.
- Regalia Gold Cardmembers will enjoy 3 domestic lounge visits per calendar quarter on spends of INR 60,000 or more in the preceding calendar quarter. This rolls out in the July – September 2026 quarter, effective April – June 2026 spends. 6 international lounge visits per year via Priority Pass remain unchanged, with no spend criteria.
- Diners Club Privilege cardmembers will get 3 complimentary lounge access vouchers (2 Domestic lounge access (Within India) + 1 International lounge access (Outside India)) on spends of INR 60,000 or more in the preceding calendar quarter. This rolls out in the July – September 2026 quarter, effective April – June 2026 spends.
As you can see, the Bank has taken the view that people should use the card throughout the year rather than just use the benefits and keep the card in the drawer.
Zero Cancellation Introduced on BizPower Card
When the BizPower card is used in a calendar quarter for INR 75,000, MakeMyTrip will issue a Zero Cancellation Flight Voucher. This Zero Cancellation Flight Voucher can be used only for domestic flight bookings through Make My Trip. Upon use of the voucher, the passenger will receive a refund equivalent to the airfare amount paid at the time of flight booking, or to the portion of the booking relevant to the cancellation request. The maximum discount available on Zero Cancellation via the voucher is INR 1,200, and any additional charges shall be paid by the customer at the time of booking.
Regalia Gold Customers to get Boarding Edge privileges
Regalia Gold Card holders will see changes to their benefits that extend beyond the lounge itself. The Boarding Edge Programme will be a complimentary service for HDFC Bank Regalia Gold Credit Card customers. You can choose any two free benefits by uploading your boarding pass in a calendar quarter. The complimentary services are
- Complimentary Spa at participating wellness centres
- Complimentary Airport transfers via Uber
- Complimentary buffet at participating hotels/restaurants
- Complimentary room upgrades at participating hotels.
All of these benefits will be offered in the arrival city listed on your boarding pass, not at departure.
Complimentary room upgrades and buffet options are available at ITC Hotels, including most brands such as the Luxury Collection, Welcomhotel, Storii, Mementoes, and Fortune. Room upgrades can be one night only. For the use of the Spa, partnerships have been formed with Meghavi Wellness, Tathaapi Spa and Wellness, and Tattva Spa. For Airport Transfers, an Uber code worth INR 750 is provided.
These privileges are over and above the lounge access, so they add rather than take away from existing benefits.
This is not a devaluation, but a reorientation
Customers pay an annual fee for the product, but that isn’t enough to keep the card operational and deliver an excellent experience. A lot of these cards are also issued lifetime free. Perhaps the bank looked at the spending pattern of their customers holding these cards and figured, yet again, that customers are using the card for the hero features rather than all-around use of the card. The bank has again tried to encourage customers to use the card more broadly, not just the hero feature.
Social Media and the public at large feel that ‘devaluation’ is the appropriate term when they don’t see changes they like. But the intent here is simple: to make the card see deserving hands and wallets. The expenses for a portfolio of cards, and the profits, are not financed by the annual membership fee but by ongoing usage and MDR (the fee the bank receives when you swipe the card).
Here are the terms and conditions, which notify all the changes.
Bottomline
HDFC Bank Credit Cards has just notified customers of its HDFC Bank BizBlack, Diners Club Privilege and the Regalia Gold of a reshuffling of a lot of the perks of the card in a way to encourage customers to use the card all year round, rather than just use it for the hero features and forget about it. There are many new tricks up their sleeve as well, such as the Boarding Edge programme. Overall, this is a well rounded intervention by the bank.
What do you think of the HDFC Bank Credit Cards requirements on their second-line premium credit cards?
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