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.
9 updates tracked · 8 devaluations
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.