From 15 May 2026, HDFC Bank accrues reward points on spending in multiples of ₹200 instead of multiples of ₹150 across roughly forty credit cards. The same notice sets the dynamic currency conversion markup at 1.75% and card re-issuance fees at ₹199 for plastic and ₹3,500 for metal.
What changed
The block width is the change. A ₹200 block instead of a ₹150 block means a quarter fewer qualifying blocks on the same spending: ₹4,20,000 of annual spend produces 2,100 blocks rather than 2,800. Where the points awarded per block did not rise to compensate, that is the size of the cut.
HDFC's notice publishes the revised accrual rates but not the rates they replaced, so we do not state a before-and-after per card. What each affected card we cover earns now, at our published valuations:
| Card | Revised accrual | Value-back on ordinary spend |
|---|---|---|
| HDFC Regalia (Regalia Gold) | 5 points per ₹200 | 0.75% at ₹0.30 a point |
| HDFC MoneyBack | 2 CashPoints per ₹200 | 0.25% at ₹0.25 a CashPoint |
| HDFC Business MoneyBack | 2 points per ₹200 | 0.25% at ₹0.25 a point |
| HDFC Freedom | 1 CashPoint per ₹200 | 0.075% at ₹0.15 statement credit |
The dynamic currency conversion markup of 1.75% applies to transactions billed in rupees at an overseas location, and to merchants sitting in India but registered abroad. It is separate from the foreign currency markup and is charged in addition to it.
Who is affected
Four of the twelve HDFC cards we cover are in the notice: Regalia, MoneyBack, Business MoneyBack and Freedom. The plain Regalia variant moves to 4 points per ₹200; Regalia Gold, the product new applicants are issued and the one our record tracks, moves to 5.
Eight are explicitly not affected. HDFC names Infinia and Infinia Metal, Diners Club Black and Diners Black Metal, and BizBlack as unchanged on reward points, and separately confirms no change to cashback or CashPoint accrual on Millennia, Tata Neu Infinity, UPI RuPay, Swiggy, Marriott Bonvoy and the IndianOil co-brand. If you hold Infinia or Diners Club Black, your earn rate is untouched by this notice.
What to do
At ₹35,000 a month, a Regalia Gold holder earns ₹3,150 a year of reward points at the revised rate, against a ₹2,500 fee — the milestone vouchers, not the points, are what make that card work. At the same spend, MoneyBack returns ₹1,050 and Freedom ₹315, against ₹500 fees. Those are computed at our typical valuations, not the issuer's, and our methodology sets out how.
The practical response is not to switch on the block width alone. It is to check whether your card was on the list at all, and, if it was, whether the milestones and vouchers you were relying on still clear the fee without help from the base rate. On the cards above they mostly have to.
Sources
- HDFC Bank — Updates on your credit card rewards, fees & charges, official cardmember notice, effective 15 May 2026
- HDFC Bank — Most Important Terms and Conditions, updated 2 September 2026