Amazon benefits going away from HDFC Smartbuy portal

[TechnoFinoTechnoFino is verified member.]

Few days ago one of our member @Rishi Singh posted an article in credit card - general section, that amazon India going to pull out from all affiliate programs.
Today HDFC Bank published a notice on their smartbuy portal, effective from 1st July, 2022 amazon India benefits (accelerated reward point/cashback) will no longer be available via smartbuy portal.



End of an era 😢 it's a huge devaluation for HDFC Infinia & DCB credit card holders.
Anyway... we have to accept this devaluation, and we have to find some similar rewarding options for amazon.
What do you think? What is the best available alternatives?

 

[AsB]

So, does that mean that ICICI Amazon pay Credit Card will not attract 5% reward point as well?

 

[TechnoFinoTechnoFino is verified member.]

So, does that mean that ICICI Amazon pay Credit Card will not attract 5% reward point as well?

ICICI Amazon pay is a co-branded credit card, it will attract 5% cashback.

 

[raghavx]

I don't have much knowledge about it, but with SmartBuy one could get 5% along with the existing card reward rates? Unlike that of APay CC 5%?

 

[Naman Jain]

I think we can use smart buy gift card way you will get very similar reward i think that will do good.
Or
Personally using millennia with 5% points back already was using this way to get that benifit as 5% from gift card and 1% from normal spending.

 

[TechnoFinoTechnoFino is verified member.]

I don't have much knowledge about it, but with SmartBuy one could get 5% along with the existing card reward rates? Unlike that of APay CC 5%?

yes..

 

[trnswamy]

So bad. Just recently I got Infinia card and was hoping that I will get some benefits from smartbuy.

 

[TechnoFinoTechnoFino is verified member.]

I think we can use smart buy gift card way you will get very similar reward i think that will do good.
Or
Personally using millennia with 5% points back already was using this way to get that benifit as 5% from gift card and 1% from normal spending.

you can buy only 10k gv per month.

 

[Sai Ganesh]

you can buy only 10k gv per month.

but they are putting extra 2.95% convenience charges if we buy instant amazon voucher right ? whats the use of buying it anyway ? I think this will be a major drawback at smartbuy , i don't see any other uses in Smartbuy apart from Amazon as the convenience charges for insta vouchers also came up .

 

[gabu]

I think this must be my last year with DCB, can't reach 5L with all these restrictions. Back LTF clubmiles if they allow it.

 

[dav33]

this is really bad news. it will be very hard to get 15K bonus points in Infinia. This makes the gap between infinia and dcb really close as dcb still is offering 80K milestone benefits. hope that does not go away. amazon pay icici will further increase in market share/ spend volume.
maybe hdfc infinia reserve/ galaxia will come up offering some surprise 😀

 

[AsB]

I think HDFC bank will not be sustainable if they continue with these 5% cashback offers. RBI has reported that Credit card spends crossed Rs 1 lakh crore this month. So, that means , Credit card users are increasing, as more people are understanding the benefits of Credit Cards. So, if a lot of people use this 5% discount, then HDFC bank will run into huge loss.
This is my thought. I need confirmation on this.

 

[pranavcool]

basically we are so addicted to it, this way amazon taking benefits now , even hdfc launched new card without smartbuy amz it makes no sense for that card, gv limit is 5k of amazon on gyftr + 2.5% charges.
i guess flipkart will benefit from this

 

[dav33]

I think HDFC bank will not be sustainable if they continue with these 5% cashback offers. RBI has reported that Credit card spends crossed Rs 1 lakh crore this month. So, that means , Credit card users are increasing, as more people are understanding the benefits of Credit Cards. So, if a lot of people use this 5% discount, then HDFC bank will run into huge loss.
This is my thought. I need confirmation on this.

i guess this is the case. but as per earlier recording it said that amazon has pulled out of affiliate programs. so i am wondering whether it was amazon's or hdfc decision. was amazon incurring losses due to this or maybe they had a deal where they had to pay some amount to hdfc.

 

[pranavcool]

i guess this is the case. but as per earlier recording it said that amazon has pulled out of affiliate programs. so i am wondering whether it was amazon's or hdfc decision. was amazon incurring losses due to this or maybe they had a deal where they had to pay some amount to hdfc.

amex too and so will axis, the cut they used to give to banks will be beneficial to them now

 

[AsB]

I think HDFC bank will not be sustainable if they continue with these 5% cashback offers. RBI has reported that Credit card spends crossed Rs 1 lakh crore this month. So, that means , Credit card users are increasing, as more people are understanding the benefits of Credit Cards. So, if a lot of people use this 5% discount, then HDFC bank will run into huge loss.
This is my thought. I need confirmation on this.

In addition, Amazon (or Flipkart or other online shops wherever applicable) can offer more cashbacks on varieties of credit cards, rather than sticking to just some banks.

 

[pranavcool]

In addition, Amazon (or Flipkart or other online shops wherever applicable) can offer more cashbacks on varieties of credit cards, rather than sticking to just some banks.

bro they get paid by banks for affliate programs

 

[AsB]

bro they get paid by banks for affliate programs

Yes. What I meant is, maybe Amazon had an exclusive partnership with HDFC bank , and Flipkart with Axis bank. After these affiliate programs are cancelled, Amazon/Flipart/XYZ can partner with any banks and offer discounts on every credit card or mobile app.

 

[pranavcool]

Yes. What I meant is, maybe Amazon had an exclusive partnership with HDFC bank , and Flipkart with Axis bank. After these affiliate programs are cancelled, Amazon/Flipart/XYZ can partner with any banks and offer discounts on every credit card or mobile app.

what i think its coz of us inflation and recession like things happening their, atlast amz is us based

 

[AsB]

what i think its coz of us inflation and recession like things happening their, atlast amz is us based

Could be, but if people have a credit card (through which they can pay back after 45 days) and 5% cashback, they will prefer to shop more, so more profits for Amazon and HDFC?