The news desk
Updates, decoded.
What changed and whether it matters — grounded in the numbers, not the press release. Subscribe via RSS →
249 of 249 tracker events have stories — the desk publishes hourly. Too fast? Pulse is the monthly rollup →
RBL halves real spend rewards — 14 categories excluded
RBL Bank's World Safari and Icon cards no longer earn points on education, government, and wallet spends, with 14 categories excluded from milestone counters and 1% fees on utility, education, and fuel spends over certain limits. This effectively drops the reward rate on real-world spend without changing headline numbers.
HDFC caps utility, telecom and cable rewards
From 1 September 2024, HDFC caps utility, telecom and cable earn at a combined 2,000 reward points per month across the portfolio.
Standard Chartered Ultimate forex now 2% — a 1.5% cut
The Standard Chartered Ultimate card now charges a flat 2% forex markup, down from 3.5% after the removal of a 1.5% cashback. This brings the all-in cost to 2.36% with GST, undercutting the 3.5% default of most premium cards.
Amex clips the Emirates Skywards transfer: 1:1 becomes 4:3
American Express cut the Membership Rewards to Emirates Skywards transfer ratio from 1:1 to 4:3 on August 19, 2024 — 1,000 MR points now buy just 750 Skywards Miles, a 25% haircut.
HDFC adds 1% fees on rent, big utility and third-party education
From August 2024, HDFC charges a 1% fee (capped ₹3,000 per transaction) on app-based rent, utility bills over ₹50,000, and education paid via third-party platforms.
Citibank India credit cards fully migrate to Axis
The Citi era in Indian cards formally ends: card numbers and limits carry over, but statements, apps and rewards now run entirely on the Axis Bank platform.
IHG's no-notice repricing: Asia +15%, US +10%, zero memo
IHG One Rewards silently repriced its best hotels upward in early July 2024 — Asia properties got 15% pricier and US hotels 10% pricier in points, with the InterContinental London Park Lane hitting 160,000 points on peak nights.
Axis Atlas takes its first big cut
Axis reworks Atlas's earn tiers and thresholds and trims the benefit stack — the purpose-built miles card's first major devaluation.
SBI Card kills reward points on rent
From 15 April 2024, no SBI card earns reward points on rent — MCC 6513 is excluded across the portfolio, SimplySAVE to Aurum.
AU zeroes rewards — 100% cut
AU Small Finance Bank cuts rewards on fuel, rent, education, and government spends to zero, effective April 1, 2024. This change affects all AU cards, including the AU Ananta and AU Zenith, with no reward points earned on these categories.
AU Zenith+ launches — ₹4,999, 32 lounges
AU Small Finance Bank introduces the Zenith+ metal card at ₹4,999, offering 0.99% forex markup, 32 lounge visits, and 4 Meet & Assist services. This card is positioned as a lounge-and-forex tool rather than a rewards engine.
Amex trims the Gold Card's Karat Collection by 13–14%
American Express cut the value of the Gold Card's 18K and 24K Gold Collection vouchers by roughly ₹1,000 apiece from March 1, 2024 — about 13–14% less value for the same points.
IndusInd Legend halves lounge visits — a 50% cut
IndusInd Bank's Legend card now offers 1 domestic lounge visit per quarter, down from 2, and cash redemption value drops to ₹0.50 per point. This devaluation affects cardholders relying on cash redemptions, with a 33% decrease in value.
Etihad Guest overhaul: short-haul First jumps 150%, miles now expire in 18 months
Etihad Guest's February 2024 overhaul raised short-haul partner first-class awards from 14,000 to 35,000 miles, imposed a hard 18-month expiry on miles, and added a 75% mileage penalty for late cancellations.
ICICI stops rewards on rent and wallet loads
From 5 February 2024, rent payments and e-wallet loading earn zero reward points on ICICI credit cards.
Marriott's suite-upgrade perk gets more hotels — and a tighter window
From January 11, 2024, Marriott's Suite Night Awards became Nightly Upgrade Awards: five more brands including Ritz-Carlton and EDITION and roughly 20% more upgrade inventory, but requests now clear only three days out instead of five.
Emirates squeezes partner business awards: up to 25,000 more miles one-way
Emirates rolled out a new Skywards award chart on January 10, 2024 that raised partner business-class redemptions by up to 25,000 miles one-way — as much as 25% — while economy and first stayed untouched.
Axis Vistara cards zero out CV Points on government and utility spends
From January 3, 2024, Axis Bank's Vistara-branded cards stopped earning Club Vistara points on government services and utility bill payments, and those spends no longer count toward milestone benefits.
OneCard kills fuel rewards — 100% loss
OneCard stops earning points on fuel from 15 December 2023, with zero points earned per ₹50 spent, although the 1% surcharge waiver remains. This change results in a small rupee loss but adds to the excluded categories on the rewards program.
YES Marquee launched — 4.5% earn
The YES Bank Marquee card offers a 4.5% earn rate on online spends with 36 reward points per ₹200, but the burn value is limited to ₹0.25 per point for travel redemptions within the YES ecosystem. The card has a ₹9,999 joining fee and offers unlimited international lounge access and 1% forex markup.