HDFC started devaluing almost all cards in recent times starting from money-back devaluation and then followed by Allmiles devaluation after which they introduced an unwanted Regalia First Version. They’re sure making the changes with some master idea, obviously to make more money.
Basically HDFC plays the game smart. They know money is there in credit card business and they’re playing it very well. They started issuing Regalia almost to anyone these days, even for free and diluted its premium feel. I’ve seen atleast one guy holding Regalia in almost every lounge i’ve visited these days that’s listed under MasterCard lounges in India.
So here are the changes happening in Regalia, one with points and other with Lounge access.
Regalia Reward Point Value:
- Earlier: 1 RP = 0.75ps with overall reward rate of 2%
- From Nov 1st 2016: 0.60ps with overall reward rate of the card dropping to ~1.5%
That’s a drop of 0.5% in value. This literally makes them millions overnight through points. This is the place of Moneyback card few months back before it was devalued. So the premium card is getting the position of a beginner level card. That’s very bad!
Priority Pass Lounge Access for Regalia Add on Cards:
The Regalia add on card member is also eligible for a Priority Pass membership here on. The Primary card holder and the add on member can jointly have 12 free access to the Priority Pass lounges every year. While they haven’t mentioned how many add on cards can be availed in this way, i pre-assume there is no limit on that as the total free access is limited to 12/Yr.
Its a good benefit for traveling couples. I’ve been asked many a times as to how to gain lounge access for their wife and this solves the problem. There are also other solutions for couples to get access to lounges even with one card. Have a look at the Ultimate Priority Pass guide for more info.
Infact, someone recently said they were allowed to swipe the PP card twice the same day in same lounge to get access for two at Mumbai Travel club (TFS) lounge. From my understanding this is possible because Priority Pass cards issued in India from bank tie ups are different and may not have the “same lounge, same day” limits like original PP cards issued by the company itself.
So this is a strong reason they’ve given us to stay with this card knowing that it really matters to many 😀
So What’s HDFC planning on?
With all these devaluations, i believe HDFC is about to launch some new Premium card to replace Regalia and that might stand between Infinia & existing regalia. Who knows!
In meantime, if you hold Regalia, its better to redeem the points for Recharge/flights to maximize the point value. Else you can try to upgrade to Infinia, Diners black or Diners premium before Nov 1st 2016.
What do you think about HDFC’s recent series of devaluations? Share your thoughts in comments below.