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Last updated 11 October 2026

Credit Card Changes in India: Devaluations, Launches & New Rules (2026)

A dated, sourced log of every notable change to Indian credit cards: reward cuts, new fees, lounge rule changes, new launches, improvements and RBI rules. We update it as banks announce changes, and each change is also applied to our card data and calculators.

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  1. Devaluation American Express

    Amex MRCC: 50% fee waiver removed (from 11 Oct 2026)

    The 50% renewal fee waiver at ₹90,000 spend ends; points kept separately per card; no rewards while a payment is overdue at the next statement.

    Amex MRCC · Source

  2. Devaluation Axis Bank

    Axis EDGE Miles: airline transfer groups reshuffled

    Air India, Flying Blue and Qantas moved to Group A, which has a much lower annual transfer cap (30,000 EDGE Miles on Atlas).

    Axis Atlas · Source

  3. Improvement IDFC FIRST Bank

    IDFC FIRST: zero forex markup on all credit cards

    All existing and new IDFC FIRST credit cards charge no forex markup from 9 September 2026. Most cards stop earning reward points on international spends from 26 October 2026.

    IDFC FIRST Millennia · IDFC FIRST Wealth · Source

  4. New launch Kotak Mahindra Bank

    Amazon Pay Kotak Business Credit Card launched

    A business card for sole proprietors with 5% cashback for Prime members on Amazon Business.

    Source

  5. Devaluation Bank of Baroda

    BOBCARD Easy, Select and Premier lose lifetime-free status

    Joining and annual fees of ₹500–₹1,000 introduced. Eterna moves from lifetime free to first-year free.

    Source

  6. New launch Bandhan Bank

    Bandhan Bank launches its first credit cards

    A Mastercard credit card portfolio with a fully digital application.

    Source

  7. New fee Axis Bank

    Axis Bank: higher DCC markup and late fee, gift cards excluded

    Priority Pass no longer works at domestic lounges, dynamic currency conversion charges rise, the late fee on balances above ₹50,000 goes up to ₹1,300, and gift card purchases stop earning rewards.

    Axis Atlas · Axis ACE · Flipkart Axis · Airtel Axis · Source

  8. Improvement HSBC

    HSBC Live+ upgraded to Visa Infinite

    10% cashback extended to shopping and utilities, with the monthly cap raised from ₹1,000 to ₹1,200.

    HSBC Live+ · Source

  9. RBI rule RBI

    RBI Integrated Ombudsman Scheme, 2026 comes into force

    Replaces RB-IOS 2021. Free complaints via cms.rbi.org.in, with compensation of up to ₹30 lakh for consequential loss and ₹3 lakh for harassment.

    Source

  10. Devaluation HDFC Bank

    HDFC Regalia Gold: lounge access needs ₹60,000 quarterly spend

    Complimentary domestic lounge access now depends on spend in the previous quarter.

    HDFC Regalia Gold · Source

  11. Devaluation HDFC Bank

    HDFC Regalia Gold: reward rate cut

    Earn rate changed from 4 points per ₹150 to 5 points per ₹200.

    HDFC Regalia Gold · Source

  12. Devaluation HDFC Bank

    HDFC MoneyBack+: accrual moved to ₹200 basis

    Partner value-back fell from about 3.3% to 2.5%.

    HDFC MoneyBack+ · Source

  13. Devaluation HDFC Bank

    Tata Neu HDFC: 5% NeuCoins needs card payment on Tata Neu

    The UPI route to the 5% rate was closed.

    Tata Neu Infinity · Source

  14. Devaluation SBI Card

    BPCL SBI OCTANE: fuel rewards limited to ₹7,000 a month

    Accelerated fuel rewards now apply to about ₹7,000 of BPCL fuel a month. The BPCL SBI Card renewal fee is reversed on ₹1 lakh yearly spend.

    BPCL SBI Octane · BPCL SBI · Source

  15. RBI rule RBI

    RBI amends credit card directions: late fees only on outstanding amount

    From 1 April 2027, late payment charges apply only to the amount outstanding after the due date, and accounts are reported past due only after more than three days.

    Source

  16. Devaluation Axis Bank

    Airtel Axis: lounge access removed, caps linked to spend

    Bill-payment cashback caps now scale with base cashback. 10% on Swiggy and BigBasket replaced by capped partner-wallet credits on Zomato, Blinkit and District.

    Airtel Axis · Source

  17. Devaluation Axis Bank

    Axis EDGE: Accor, Marriott and Qatar removed as transfer partners

    Four new partners added at a weaker 2:1 ratio.

    Axis Atlas · Source

  18. Devaluation SBI Card

    SBI Cashback: online cashback capped at ₹2,000

    5% online and 1% offline cashback each capped at ₹2,000 per statement (₹4,000 total, down from ₹5,000). Gaming, tolls and government payments excluded.

    SBI Cashback · Source

  19. Devaluation American Express

    Amex Platinum Travel: milestones cut

    Taj voucher moved to a new ₹7 lakh milestone; lower tiers reduced.

    Amex Platinum Travel · Source

  20. New launch HDFC Bank

    Swiggy HDFC replaced by Swiggy BLCK and ORNGE

    BLCK (₹1,000 fee) pays 10% on Swiggy. ORNGE (₹500 fee) pays 5%.

    Swiggy BLCK HDFC · Swiggy ORNGE HDFC · Source

  21. Devaluation Federal Bank

    Scapia: lounge spend doubled to ₹20,000 a month

    Rewards also removed from insurance and utility payments.

    Scapia Federal · Source

  22. Devaluation HDFC Bank

    HDFC Infinia: redemption caps introduced

    Redemptions capped at 5 a month. Retention criteria (₹18 lakh yearly spend or ₹50 lakh relationship) announced from 2027.

    HDFC Infinia · Source

  23. Devaluation IDFC FIRST Bank

    IDFC FIRST: reward earn basis moved to ₹200

    Lifetime free cards earn points per ₹200 instead of ₹150. Lounge access needs ₹20,000 monthly spend.

    IDFC FIRST Millennia · IDFC FIRST Wealth · Source

  24. New fee ICICI Bank

    ICICI Bank: wallet load and gaming fees

    1% fee on wallet loads of ₹5,000 or more and 2% on online gaming.

    Amazon Pay ICICI · Source

  25. Devaluation SBI Card

    SBI Card: domestic lounge visits reduced

    Complimentary domestic lounge visits cut from 8 to 4 a year on several cards.

    Source

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