This is the year of devaluation, some of my Credit Card has been devalued. And there are some of the most talked about cards are devalued which is affecting a lot of people who is in the Credit Card game. For example, SBI Cashback was one of the best cashback credit card, which used to give 5% cashback on online transactions.
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Now you can get upto 5K per month that means if you have used the Cashback Card for 1 Lakh in a month, you can get Rs 5K which is a great returns. Now they have changed it and now you can get upto 2K only that means maximum you can use online is for Rs 40K.
And then HDFC Diners Privilage Card has been devalued by reducing the returns from 1.33% to just 1%. And we have to get the lounge access by spending Rs 60K in the previous quarter. It was updated from Rs 15K. It's not a big devaluation but still there is minor changes.
Just like that there are a lot of other cards where there was a devaluation happened which is affecting most of the credit card users. In my case, my main card is SBI cashback as of now for online usage and I was crossing 50K in some months. But now I have to spend only 40K through that card and use Rs 10K or more in other cards to get the maximum benefit.
Next for lounge access I usually use Tata Neu HDFC card by spending around Rs 50K through UPI in one quarter so lounge access is not a problem. So for me lounge access is sorted. So for me this devaluation is not much of a problem.