Several major banks in India — from SBI and HDFC Bank to ICICI Bank and even premium issuers like Amex — have been rolling back or tightening popular credit card perks and rewards this year. These changes affect everything from reward earnings to entertainment benefits and lounge access.
Here Are the Key Perk Cuts You Should Know
1. Entertainment & Movie Perks Removed
ICICI Bank: Complimentary BookMyShow movie benefits on Platinum card variants are being discontinued.
This means if you previously counted on free or BOGO movie tickets from your card, those won’t be available anymore.
2. Lounge Access Getting Tighter
Some cards that offered free domestic lounge access are reducing the number of visits or introducing stricter conditions for eligibility.
This impacts users who had credits for lounges as part of their card benefits.
3. Reward Points Earning Reduced
HDFC Infinia Card: Reward points on the bank’s SmartBuy platform were reduced — e.g., from 5X to 3X — lowering the effective value you earn on voucher purchases.
Earning on some premium cards is now less generous, making it important to reassess whether the rewards still match your spending.
4. Reward Caps and Spend Limits Introduced
ICICI Bank: Caps on reward earnings for certain categories like transport spending — e.g., a ₹20,000 monthly cap on premium card transport rewards and a ₹10,000 cap on other card tiers.
These caps mean that once you hit the threshold in a category, you won’t earn points beyond it in that period.
5. Other Perk Changes Across Issuers
SBI Cards: Reduced reward rates on certain categories — such as online spends earning fewer reward points compared with past structures.
Amex: Some premium card reward structures — like the Platinum Travel Card — have been revised to require higher spends for similar bonuses.
Axis Bank: Reward programme changes include stricter expiry rules for points after card closure.
Which Cards Might Be Affected (Examples)
Here’s a quick list of well-known cards reported to have perk changes or tighter earning conditions:
ICICI Bank
- Instant Platinum variants — movie benefits removed
- Reward caps on transport spend
- Changes in how insurance or other categories earn points
HDFC Bank
- Infinia — lower rewards on SmartBuy platform (reward points per spend reduced)
SBI Cards
- Some cards saw reductions in reward multipliers on categories like online spends (e.g., Swiggy via SimplyCLICK)
Amex & Axis
- Milestone-based reward changes (Amex) and expiry rule tweaks (Axis)
What This Means for You
Reduced value: Some cards may no longer be as rewarding if their earning structure has been cut.
Benefit shift: Perks are being moved toward spend-linked models instead of automatic freebies.
Planning matters: You may need to adjust which cards you use for categories like movies, transport, or online shopping.
Quick Take
Credit card issuers — including SBI, HDFC Bank, ICICI Bank, Axis, and even American Express — are tightening perks and reward structures to make programmes more sustainable and aligned with profitable spending. Lounge access, reward multipliers, and entertainment perks are among the key areas being scaled back as part of 2026 changes.