Disclaimer: The views expressed here are my personal opinions and reflect feedback shared by a few readers who have used RBL credit cards.
If you follow RBL Bank credit card rewards, here is a concise update on recent changes and what they mean for cardholders.
What’s happening?
About a month ago RBL Bank quietly reduced the effective value of its reward points. Where rewards previously redeemed at roughly 25 paise per point across common options, some redemption values have dropped to around 16 paise per point.
Representative current values on select redemptions include:
- Big Bazaar: 16 paise/point (about 36% lower)
- Amazon/Flipkart vouchers: 18 paise/point (about 28% lower)
- LP/Peter England vouchers: 23.5 paise/point (about 10% lower)
Overall this represents a reduction of roughly 10% to 36% compared with earlier valuations. Most RBL credit cards already offer modest earning rates, so this devaluation further reduces their rewards appeal.
Note: Travel redemptions may still offer close to 25 paise/point in some cases.
While occasional adjustments to redemption value are common across the industry, it would be better practice for issuers to notify customers in advance rather than implementing silent devaluations.
Separately, some cardholders have reported customer service issues and transaction categorization problems—examples include Paytm transactions being treated as cash withdrawals—based on reader feedback.
What can you do?
If you’re concerned about the devaluation and don’t rely on a substantial credit line from RBL, consider redeeming accumulated points and closing the card. That approach reduces exposure when a card’s benefits are diminishing.
This advice reflects both the recent devaluation and longer-running doubts about the competitiveness of several RBL premium cards, which often only offer compelling deals during promotional periods such as festivals.
Final Thoughts
For many users, moving away from RBL credit cards is reasonable right now. If you have multiple credit cards, shutting down RBL may make sense, especially given lower spending levels likely in the near term.
Similar caution could apply to other banks under stress; however, actual bank health can differ and rumors are not definitive indicators. If you hold a high credit limit or a lifetime-free card from RBL or comparable banks, keeping the card is acceptable—but avoid relying on it as a primary rewards source.
What are your thoughts on RBL Bank’s rewards devaluation? Feel free to share your experience in the comments below.