HDFC has recently reduced the value and benefits of several of its credit cards, beginning with the MoneyBack card devaluation, followed by changes to the AllMiles product and the launch of the Regalia First variant. These moves appear designed to shift the bank’s card portfolio strategy and improve profitability.
The bank is clearly pursuing an aggressive approach to the credit card market. HDFC has broadened the availability of the Regalia card, reducing its exclusivity by issuing it much more widely and sometimes even waiving fees. As a result, the card’s premium positioning has weakened — it’s increasingly common to see Regalia cards in airport lounges and other premium touchpoints that used to feel more selective.
My old HDFC Business Regalia Credit Card
Below are the recent changes affecting Regalia, covering both reward points and lounge access.
Regalia reward point value
- Previously: 1 reward point (RP) was worth 0.75 paise, giving an effective rewards rate of about 2%.
- From November 1, 2016: 1 RP is worth 0.60 paise, reducing the card’s effective rewards rate to roughly 1.5%.
This change represents a significant decline in reward value. For cardholders who accumulate large balances of points, the devaluation can translate into a meaningful reduction in redemption value overnight. The Regalia’s new reward profile approaches that of entry-level products, which is disappointing for customers who expect a premium card experience.
Priority Pass lounge access for Regalia add-on cards
HDFC now allows Regalia primary and add-on cardholders to share a Priority Pass membership. Together, the primary and add-on cardholders receive up to 12 complimentary Priority Pass lounge visits per membership year. HDFC does not explicitly state the maximum number of add-on cards that can be linked to the membership, but the combined free access is capped at 12 visits per year.
My Priority Pass card issued along with Regalia
For couples or families who travel together, this is a practical benefit. Many cardholders ask how to secure lounge access for their spouse; sharing the Priority Pass allocation between primary and add-on cards solves that problem for up to 12 visits per year. There are additional strategies to gain lounge access with a single card, but this change directly addresses a common use case.
Some cardholders report being permitted to use the Priority Pass card multiple times at the same lounge on the same day at select locations. Anecdotally, this has occurred at a few lounges where the bank-issued Priority Pass cards appear to be treated differently from Priority Pass memberships issued directly by the program. Because bank tie-up cards may not always enforce “same lounge, same day” limits in the same way, experiences can vary by lounge and operator.
Given the reduction in reward value, the shared Priority Pass benefit is a notable retention tool for HDFC. For many customers, lounge access is a tangible and valued perk that can offset other declines in card value.
What might HDFC be planning?
With several products being devalued and the Regalia positioning diluted, it is plausible that HDFC is preparing to introduce a new premium card tier positioned between Regalia and its top-end offerings like Infinia. Such a product could aim to reclaim a distinct premium proposition while allowing the bank to re-segment its customer base and pricing.
In the short term, Regalia cardholders should consider redeeming points for options that preserve the best value—flight bookings, recharge options, or other redemptions that offer higher effective value—before the devaluation deadlines. Cardholders seeking stronger premium benefits may evaluate upgrade paths to HDFC Infinia or Diners Club premium products, depending on eligibility.
What are your thoughts on HDFC’s recent series of devaluations? Share your experience and views in the comments below.