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IDFC reward reduced to 1X for utility

  • Thread starter Thread starter D7162
  • Start date Start date
  • Replies Replies 13
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That's the 3rd devaluation in less than a year from IDFC. Quite some rate. Those were impressive enough cards to start, LTF, 1.5 percent reward rate, lounge access. First the reward rates dropped, then they introduced spend based restrictions on lounge access, and then disincentivised spend by further devaluation!
BTW, wasn't insurance excluded from points earlier?
 
JUST RECEIVED THIS MAIL FROM IDFC

This caught my eye
CMA Clause 27.18 ---
Eligibility of transactions for rewards are dependent on acquirers providing the correct online
flag/identifier and merchant category code to the Issuer, which is laid out as per the rules
defined by the network (VISA, MasterCard etc.). If the acquirer sends an incorrect identifier/flag
or merchant category code for transactions, then Issuer will not be held liable to give accelerated
Reward Points for such transactions on Credit Card.
 

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JUST RECEIVED THIS MAIL FROM IDFC

CMA Clause 27.18 ---
Eligibility of transactions for rewards are dependent on acquirers providing the correct online
flag/identifier and merchant category code to the Issuer, which is laid out as per the rules
defined by the network (VISA, MasterCard etc.). If the acquirer sends an incorrect identifier/flag
or merchant category code for transactions, then Issuer will not be held liable to give accelerated
Reward Points for such transactions on Credit Card.
These are the changes: IMG_4157.png
 
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