Credit card news & devaluation tracker
Every recent reward devaluation, launch, and rule change for India + US cards. Dated, sourced, and explained in plain language. The fine print your bank hopes you miss.
28 updates tracked · 22 devaluations
United cut base earning from 5x to 3x and made the co-brand card the only way back
Since 2 April 2026 MileagePlus members without a United card earn 3 miles per dollar instead of 5, and basic economy earns nothing for general members. Cardholders earn 6x and get at least 10% off award flights. We also found the Explorer's annual fee had moved and corrected it.
Effective Apr 2, 2026
British Airways raised the cash you pay on Avios reward flights again, the second increase in five months
From 27 May 2026 the Avios price of a British Airways reward flight is unchanged, but the cash co-pay rose roughly 10% to 33% depending on the route. It is the second cash-element increase in five months, after the December 2025 change.
Effective May 27, 2026
BOBCARD raises its lounge gate from ₹40,000 to ₹75,000 a quarter, and its finance charge to 45% a year
From 1 October 2026 unlimited domestic lounge access on BOBCARD Eterna, Tiara and Varunah Premium requires ₹75,000 of spend in the preceding quarter, up from ₹40,000. Finance charges rose to 3.75% a month on 15 July, and accidental death cover ended for existing cardholders on 25 August.
Effective Oct 1, 2026
Amex Platinum Travel loses 30,000 milestone points and puts lounge access behind ₹1 lakh a quarter
From 10 September 2026 the ₹1.9 lakh milestone disappears and the ₹7 lakh milestone pays a Taj voucher instead of points, cutting milestone Membership Rewards at ₹7 lakh from 40,000 to 10,000. From 1 October, domestic lounge visits require ₹1 lakh of spend in the previous quarter.
Effective Sep 10, 2026
The Amex Gold turned 60 with 5x on prepaid hotels, and the $325 fee held flat
American Express refreshed the Gold Card on 30 April 2026 for its 60th anniversary: prepaid hotels booked through Amex Travel now earn 5x (up from 2x), car rentals and cruises earn 2x, and the annual fee stayed at $325. A rare enhancement in a year of cuts.
Effective Apr 30, 2026
HSBC India drops forex markup to zero on every credit card until September 15, 2026
From August 15 to September 15, 2026 HSBC India charges no foreign exchange markup on any of its credit cards, covering both in-store and online foreign currency spend. It is a one-month promotional window, not a permanent product change.
Effective Aug 15, 2026
Flying Blue splits award tickets into Light, Standard and Flex from September 8, 2026: the headline price stays, the ticket gets worse
From September 8, 2026 Air France and KLM award tickets book in three tiers. Light keeps today's mileage price but drops the checked bag, seat selection, lounge access and any right to change or refund. Paris to New York business goes from 60,000 miles to 75,000 for the ticket you get today.
Effective Sep 8, 2026
Amex India improves Membership Rewards transfers: Virgin Atlantic up 60%, Hilton Honors up 67% from August 18, 2026
American Express India rerated two Membership Rewards transfer partners on August 18, 2026. Virgin Atlantic Flying Club moves from 2:1 to 5:4, and Hilton Honors from 1:0.9 to 1:1.5. Both are permanent rate changes, not a limited-time transfer bonus.
Effective Aug 18, 2026
Chase Ink Business Preferred loses the 1:1 Hyatt transfer too, dropping to 4:3 on October 1, 2026
The Hyatt transfer cut is not Sapphire-Preferred-only. Chase Ink Business Preferred, Ink Plus and Corporate Flex also move from 1:1 to 4:3 on October 1, 2026, a roughly 25% haircut. Only Sapphire Reserve keeps 1:1.
Effective Oct 1, 2026
Axis Bank credit card rules change August 28, 2026: DCC fee triples to 3.5%, rewards pulled from gift cards and tolls
From August 28, 2026 Axis raises the dynamic currency conversion fee to 3.5% on most cards, stops reward points on gift cards, tolls and road fees, and lifts the top late fee to Rs 1,300. Movie BOGO and lounge access get spend gates too.
Effective Aug 28, 2026
World of Hyatt goes from three award tiers to five, and the top Category 8 night now costs 75,000 points
Hyatt's first award-chart restructure in five years replaced Off-Peak, Standard and Peak with five tiers on 20 May 2026. A Category 8 night at the top tier rose from 45,000 points to 75,000, a 67% increase, and 112 of 136 repriced hotels moved up.
Effective May 20, 2026
IndusInd puts domestic lounge access behind quarterly spend, and asks for up to ₹5,00,000 a quarter
IndusInd now requires quarterly spend before it unlocks complimentary domestic lounge visits the following quarter. Tracking began with the April to June 2026 quarter and access is gated from July to September. The thresholds are the steepest any Indian issuer has set.
Effective Apr 1, 2026
Amex ends the Etihad Guest partnership worldwide, closes Mumbai's Centurion Lounge, and cuts guests to one
American Express removed Etihad Guest as a Membership Rewards transfer partner across every major market between 15 June and 1 July 2026, shut the Mumbai Centurion Lounge on 1 July, and from 8 July admits only one guest, travelling on the same flight.
Effective Jul 1, 2026
HDFC puts Regalia Gold's domestic lounge access behind a ₹60,000 quarterly spend gate
HDFC recalibrated Regalia Gold, Diners Club Privilege and BizPower: base earn moved from 4 points per ₹150 to 5 per ₹200 on 15 May 2026, and from the July quarter domestic lounge visits require ₹60,000 of spend in the quarter before.
Effective Jul 1, 2026
Citi AAdvantage Executive: annual fee climbs to $695, new credits arrive August 23
The Citi AAdvantage Executive's annual fee rises $100 to $695 on 23 August 2026. New AA Vacations and inflight credits, a bigger Lyft credit, and two new Loyalty Point tiers are the offset.
Effective Aug 23, 2026
Bank of America's 75% rewards boost now needs $1M in assets, up from $100k
Preferred Rewards became BofA Rewards on 27 May 2026. The 75% credit card earnings boost moved to a new $1M tier, and the $100k to $1M band drops from 75% to 50%.
Effective May 27, 2026
Axis Bank drops Accor, Marriott and Qatar Airways as transfer partners, and halves the ratios on what is left
On 2 April 2026 Axis removed Accor Live Limitless, Marriott Bonvoy and Qatar Airways Privilege Club with no notice, adding British Airways, Finnair and Vietnam Airlines at materially worse transfer ratios.
Effective Apr 2, 2026
Axis Bank's August 28 sweep: DCC charges up, Priority Pass loses domestic lounges, gift cards stop counting
From 28 August 2026, Axis more than doubles the DCC rate on mid-tier cards, invalidates Priority Pass at domestic lounges, and stops gift card spends from counting toward milestones and fee waivers.
Effective Aug 28, 2026
Amex adds Leading Hotels of the World as a Membership Rewards transfer partner at 4:1
Membership Rewards now transfers to LHW's Leaders Club: 1,000 points become 250 Leaders Club points, entry free nights start at 16,000 MR, and Amex Platinum holders get Sterling status.
Effective Jul 28, 2026
SBI Cashback Card caps rewards at ₹4,000/cycle and cuts out gaming, tolls & govt spends
India's most-recommended cashback card gets a hard ₹4,000 per-cycle ceiling and new exclusions from April 2026. Here's what still earns and what to do about it.
Effective Apr 1, 2026
Marriott Bonvoy reportedly raises award prices 5–10% across the board
A broad Marriott Bonvoy award-price increase of roughly 5–10% was spotted in July 2026, a rare all-at-once devaluation since Marriott went fully dynamic. What it means for your transferable points.
Effective Jul 10, 2026
IDFC First devalues its lifetime-free cards: base earn cut 25%, forex rewards halved
IDFC First, long the 'generous' issuer, moved its base earn from per ₹150 to per ₹200 (a 25% cut) and dropped forex rewards from 10X to 5X from April 2026.
Effective Apr 1, 2026
ICICI reworks rewards: Emeralde stops earning on rent, fuel, govt & tax; 2% gaming fee added
From January 2026, ICICI's Emeralde Metal drops reward earning on several everyday categories and ICICI adds a 2% fee on online gaming platforms like Dream11 and MPL.
Effective Jan 15, 2026
HDFC caps SmartBuy brand-voucher earnings at 3,000 points/month: Infinia hit hardest
From July 2026, HDFC's SmartBuy brand vouchers earn accelerated points only up to 3,000 RP/month. The favourite Infinia and Diners Black points-maximising trick just got smaller.
Effective Jul 1, 2026
HDFC Infinia now demands ₹18L annual spend or ₹50L relationship value to keep the card
For 2026–27, Infinia holders must hit ₹18 lakh in card spend or park ₹50 lakh with HDFC, or risk downgrade/termination in 2027. What the new retention rule means.
Effective Apr 1, 2026
Discover cards move to the Capital One app & website on July 27, 2026
Following the Capital One–Discover merger, Discover cardholders will manage their accounts on Capital One's platform from July 27, 2026. Rewards stay the same. Here's what actually changes.
Effective Jul 27, 2026
Chase cuts Sapphire Preferred → Hyatt transfers from 1:1 to 4:3 (a ~25% haircut)
Chase is reducing the Sapphire Preferred's World of Hyatt transfer ratio to 4:3. Existing holders keep 1:1 only until Oct 1, 2026, so transfer before the deadline if you're sitting on points.
Effective Oct 1, 2026
Amex Platinum annual fee jumps to $895 (from $695), a 29% increase
The Amex Platinum's annual fee rises to $895. It's effective immediately for new cardmembers and from Jan 2, 2026 for existing ones. Is the card still worth it?
Effective Jan 2, 2026
Devaluation FAQ
What is a credit card devaluation?
A devaluation is any change that makes a card earn or redeem fewer rewards for the same spend: a cut earn rate, a new monthly cap, an added exclusion, a worse transfer ratio, or a higher annual fee. Issuers rarely advertise them, so the real value of your card can drop overnight.
How often is the CardPolo devaluation tracker updated?
CardPolo re-checks issuer notices and reputable card-news sources every few days and posts material changes here, each with its source and effective date.
How do I know a change is real and not a rumor?
Every item on this page links to its primary source (an issuer notice or a reputable outlet) and is labelled either “Confirmed” or “Reported”. We do not publish unsourced financial claims.