HDFC Bank, India’s largest credit card portfolio, has started 2021 with a bang. They have rolled out upgrades to various cardmembers at a large scale earlier this week, sending out upgrade offers to the HDFC Bank Infinia and HDFC Bank Diners Club Black cards, that too, lifetime free. These HDFC Credit Card Upgrade pre-approved offers should already be in your net banking account if you were targetted for these.
Here are some of the upgrades I’ve been hearing about over the past few days:
- Regalia to Diners Club Black
- Diners Club ClubMiles to Diners Club Privilege
- Moneyback to Infinia
- Regalia First to Infinia
Essentially, this is an attempt to move people from the mid-tier products such as Regalia to higher products, in an effort perhaps to get them to spend more as spending picks up.
HDFC Credit Card Upgrade: How to check if you received the Upgrade offer?
The easiest way to check is to log into net banking and head into the Credit Cards section.
Many people have also received pre-approved limit extensions. There are concerns about these being First Year Free cards over Lifetime Free Credit Cards. A call to HDFC Bank Customer Care should give you the confirmation you might need.
Should you accept the offer to upgrade your card?
Yes, definitely. Infinia and Diners Club points are far better in value than Regalia and some of the other variants that are being offered the upgrade. Secondly, on these two credit cards, at least for now, you can earn up to 15K (Infinia) and 7.5K (DCB) bonus points per month for using Smartbuy. The Smartbuy portal is not just for earning cashback on travel, which is how it started. You can earn bonus points for buying vouchers for your purchases amongst other use cases as well.
I’ve talked to people who fear Infinia would be downgraded and a new card might be in the works on top of these cards. I’d say, those fears are unfounded. Right now, HDFC Bank is unable to issue any new credit cards, and the RBI order continues to be enforced. Secondly, the bank launching a new credit card is not an event the customer controls. Third, points devaluations at this point won’t be in the interest of HDFC Bank, which is already facing various PR challenges due to their downtime. Fourth, these are the top-end cards. Over the years, we have seen proof that HDFC Bank protects its top-end cardholders from devaluations compared to those holding the other cards.
This is perhaps the best opportunity for those holding any credit card in the HDFC Bank ecosystem to upgrade to some of the best cards in the ecosystem. Many mid-tier cardmembers are now being pitched the super-premium credit cards and allowed to get them for free. If you haven’t received an offer, might not hurt to call and ask for one.
Have you received an offer from HDFC Bank to upgrade your card to an Infinia/Diners Club Black credit card for free? Do share your experiences with HDFC Credit Card upgrade here.
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