Now Reading: Mint ranks top travel credit cards after reward cuts
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Mint ranks top travel credit cards after reward cuts
Mint has released its annual ranking of the best travel-focused credit cards, factoring in recent reward devaluations by banks. Cards are divided into those for annual spends of Rs 10-15 lakh and…
The Story in Brief
Mint has released its annual ranking of the best travel-focused credit cards, factoring in recent reward devaluations by banks. Cards are divided into those for annual spends of Rs 10-15 lakh and above Rs 15 lakh. HDFC Diners Club Black Metal moved down a category after HDFC capped SmartBuy gift voucher rewards at 3,000 points per month.
New entrants like HSBC Premier and Axis Magnus Burgundy now offer better value for high spenders, though experts say cashback cards suit those spending under Rs 10 lakh. Eligibility often requires high salaries or bank balances, such as Rs 5 lakh monthly salary for HDFC Infinia. Tejas Ghongadi of The Points Code warns rewards will likely cover one meaningful vacation every two years, not annual holidays.
The Indian Opinion
Banks are right to trim unsustainable rewards, but the sudden devaluations feel like a bait-and-switch for cardholders who planned vacations around these points. The real test is whether premium cards like HSBC Premier and Axis Magnus Burgundy will maintain their value for even a year, or if another round of cuts awaits. Will Indian credit card users learn that the best reward is no reward for spending more than necessary?
Source: livemint.com
This story was synthesised by AI from the source linked above.
