Synopsis: This article gives a comprehensive overview of 15+ credit cards which were devalued in 2026. These cards are from banks including Axis Bank, HDFC Bank, SBI, IndusInd, and others, detailing the reductions in rewards, lounge access, capping the cashbacks, and increasing fees.
It’s safe to say 2026 was the year of devaluation for credit cards. This devaluation was across all of India’s popularly used credit cards, with banks quietly trimming the benefits. The cardholders across premium and everyday cards are alike as the rewards and benefits were recaliberated by the banks.
List of the Credit Cards that are Devalued in 2026
Airtel Axis Bank Credit Card
The following changes are effective from 12 April 2026,
- The 4 complimentary domestic lounge visits are discontinued
- 25% cashback category is now capped at twice the base cashback earned during the same statement month, instead of ₹250
- 10% cashback category is now capped at the base cashback earned during the same statement month, instead of ₹250
- Replaced benefit of 10% cashback on Swiggy, Zomato, and BigBasket, with 10% value back credited to the wallet on Zomato, Blinkit, and District Movies, which is applicable through the ecom payment modes, and the maximum monthly value back is capped at ₹200 per partner per primary card.
Axis Magnus Credit Card
The following changes are effective from 2 April 2026,
- Removed travel partners, Accor, Marriott Bonvoy, Qatar Airways, and new partners added like, British Airways, Finnar Plus, Vietnam Airlines Lotusmiles
- The transfer ratios decreased from 5:4 to 5:2 for Group A partners
Axis Atlas Credit Card
The following changes are effective from 2 April 2026,
- Removed travel partners, Accor, Marriott Bonvoy, Qatar Airways, and new partners added like, British Airways, Finnar Plus, Vietnam Airlines Lotusmiles
- The redemption ratio with new partners is 2:1 instead of 1:2 for Group A partners
Axis Horizon Credit Card
The following changes are effective from 2 April 2026,
- Removed travel partners, Accor, Marriott Bonvoy, Qatar Airways, and new partners added like, British Airways, Finnar Plus, Vietnam Airlines Lotusmiles
- The redemption ratio with new partners is 2:1 instead of 1:1 for Group A partners
Axis Olympus Credit Card
The following changes are effective from 2 April 2026,
- Removed travel partners, Accor, Marriott Bonvoy, Qatar Airways, and new partners added like, British Airways, Finnar Plus, Vietnam Airlines Lotusmiles
- The transfer ratio is reduced to 1:2 from 1:4 for Group A partners
Also read: 12 International Mutual Funds Indian Investors Can Still Invest in During 2026
HDFC Regalia Gold Credit Card
The following changes for reward rates are effective from 15 May 2026 and lounge access condition from 1 July 2026,
- Reward rates are revised, 5 reward points per ₹200 spent
- Domestic lounge access which is 3 visits/quarter on a spend condition of ₹60,000 or more in the preceding calendar quarter, and 6 international lounge access via Priority Pass
- Charge of card reissuance fee of ₹199 for damaged or lost card
- New Boarding Edge Programme introduced
- DCC markup revision to 1.75% effective from 15 May 2026.
HDFC Diners Club Privilege Credit Card
The following changes for reward rates are effective from 15 May 2026 and lounge access condition from 1 July 2026,
- Reward rates are revised, 4 reward points per ₹200 spent
- 2 domestic lounge visits/ quarter and 1 international lounge visits/quarter on a spend condition of ₹60,000 or more in the previous quarter
HDFC Infinia Metal Credit Card
The following changes are effective from 1 April 2026,
- A minimum spend of ₹18 lakh on combined primary and add on cards or a ₹50 lakh Total Relationship Value (RLV) across all HDFC accounts, is required to for continue holding this credit card
SBI Cashback Credit Card
The following changes are effective from 1 April 2026,
- A cap of ₹2000 per month for 5% cashback on online spends and 1% cashback on offline spends
- Total cashback per statement cycle is capped at ₹4000
- Maximum redeemable points is 60,000 per month
- Redemptions can only be made in multiples of 4,000 points
Scapia Federal Credit Card
The following changes are effective from 27 February 2026,
- No rewards on Insurance payments and utility transactions
- For unlimited domestic lounge access the spend condition is ₹20,000 in a month
American Express Platinum Travel Credit Card
The following changes are effective from 9 March 2026,
- Bonus points applicable in a 12 months of card issuance or renewal are, for ₹1.9 lakh spend is now 7,500 points, for a ₹4 lakh spend it is now 10,000 points and Taj voucher is removed from this slab, and for a ₹7 lakh spend it is 22,500 points and ₹10,000 Taj voucher.
IndusInd Celesta Credit Card
The following changes are effective from 1 April 2026,
- Complimentary domestic lounge access of unlimited visits only on the spend condition of ₹1.5 lakh in previous quarter
IndusInd Crest Credit Card
The following changes are effective from 1 April 2026,
- Complimentary domestic lounge access of 2 visits/quarter only on the spend condition of ₹5 lakh in previous quarter
IndusInd Indulge Credit Card
The following changes are effective from 1 April 2026,
- Complimentary domestic lounge access of 6 visits/quarter only on the spend condition of ₹5 lakh in previous quarter
Yes Bank Credit Cards
The following changes are effective from 15 June 2026,
- Cash advance fee increased to 2.5% of withdrawal amount or ₹650 (whichever is higher) and not applicable on Virtual RuPay Credit Cards.
- Auto-debit failure charges revised to 2.5% of auto-debit amount or ₹500 (whichever is higher) per failed instance. Maximum cap is at ₹5,000 per statement.
- Card reissuance fee revised to ₹199 for lost/stolen/damaged plastic cards. Not applicable on Virtual RuPay cards.
- The card variants Yes First Preferred, and Yes First Business has a revised forex markup of 2.00%, Elite+, Yes Prosperity Business has a revised forex markup of 3.00% and for, ACE, FinBooster, Select, Klick, RuPay Virtual UPI Card, ANQ Phi, YES Prosperity Rewards, YES Prosperity Cashback, YES Prosperity Cashback Plus has a revised forex markup of 3.50%.
Conclusion
The 2026 credit card devaluation phase signals stricter economic compliance, urging the cardholders to reassess their portfolios. Staying updated to these changes will allow the cardholders to navigate their profits and losses.
Written by Jahnavi
