Here comes the biggest news from HDFC bank for those who’s minting money with the most lucrative Diners Club 10X Rewards Programme which helps to save upto 33% with Diners Cards with no upper limit (in past) on partner brands. While i entered pretty late to the game, i could see HDFC understood the potential loss and finally have put a cap on the amount of reward points you can earn in a particular statement cycle. However, the number is good enough for Diners Black variant.
New Brands on Diners Club 10X Rewards Programme:
They’ve added more partners to the 10X rewards programme thereby making it sound BIG, but not actually that big. While some brands got removed, like, clear-trip, new brands like lifestyle, Myntra, Uber, Makemytrip are new to the list. Here’s the full list that’s going to be active until March 2017 (at-least that’s a good news).
Apart from these changes, there are also new rules like,
- No incremental points for loading Wallets
- No incremental points for Uber (paid via Paytm wallet)
- Points will be posted in next statement cycle. E.g. if an eligible transaction (except for Lifestyle) is done on 9th September, 2016 and statement date is 15th of every month, the 10x reward points will reflect in the statement dated 15th October, 2016. In case of Lifestyle, this will reflect by the statement dated 15th December, 2016.
This is BAD. Finally they’ve made it too long to wait for the points. This is dangerous as no one knows when then gonna devalue the cards, point value etc like they did for allmiles and moneyback recently. While they have the ability to make us spend more and finally devalue the card as usual, i believe they wont do it with Diners cards as the primary value of Diners cards is that it rewards travelers.
Note: I still see Clear-trip site says the 10x promo validity is upto Dec 2016. Not sure if that still holds true. Maybe HDFC doesn’t want to mention the brands that are not active until March 2017, or maybe they’ll add more in future, or maybe “10x rewards on 10 partners” tagline sounds good for them 😀
The Future of 10X Rewards on Diners Cards
Though the Diners cards acceptance issues in India still exists, the lucrative 10X rewards programme is a surefire way to increase the penetration of Diners Club credit cards in India. They’re also increasing the acceptance level gradually online and also offline as mentioned in my recent post – Diners and Discover Cards now Accepted on Axis Bank Swipe Machines which all makes clear that Diners club is moving in right direction to compete with Visa & Mastercard in India.
Update as on Nov 2016: Makemytrip issues 10X points even if you don’t use HDFC5X coupon code.
What do you think the future has for Diners Cards and its 10X promotions? Feel free to share your comments below.