HDFC Smartbuy Gyftr voucher earning reduces from 10X points to 5X points from September 1, 2021


HDFC Bank has long been offering a plethora of points for those who use its white-labeled SmartBuy website to buy almost anything under the sun. A few years back, they also launched a white labeled gift voucher service with Gyftr where you could get 10X points up to the card’s maximum bonus points limit as set by HDFC Bank. This effectively means you can get up to 33% cash back on over 150 brands, as long as you purchased the voucher before using it for your purchases. I never thought the gift voucher business would be so lucrative, but it sure was enough that American Express would launch a similar site.

HDFC Bank cuts Smartbuy Gyftr earnings in half

The reward points are awarded every time you buy something from SmartBuy and are primarily going out of the pocket of HDFC Bank. This is why, as they have achieved scale, HDFC Bank has limited earnings on its cards and adjusted earnings on its products as the situation evolves. I don’t hold it against them. Ultimately, there has to be a balance between awarding points and making money. Unless they devalue the points, ie.

As it turns out, as of September 1, 2021, HDFC Smartbuy Gyftr issue earnings have been devalued. Till August 31, 2021, HDFC can earn 10x points by purchasing gift vouchers from Gyftr through SmartBuy (1X regular earning and 9X bonus earning). However, today, you will see earning only 5X points on the website.

This means that when you buy vouchers from HDFC Smartbuy Gyftr, you will now get 5X points (1X regular and 4X bonus), bringing up to 16.5 percent cashback on their top-end credit cards including Infinia and Diners Club Black. . Cards that do not earn points get 5% cashback. This would not be good news for people who used to buy a lot of vouchers, I would say.

HDFC Smartbuy Gyftr increases Amazon and Flipkart voucher limit per month

As the gift voucher platform expanded, Gyftr imposed a limit of Rs 5000 per calendar month on purchase of gift vouchers for Flipkart and Amazon vouchers. Since the platform has reduced earnings, they have updated the ability to buy vouchers up to Rs 10,000 in a month from the earlier Rs 5,000. This change is also reflected on the website.

ground level

HDFC Bank’s SmartBuy Gyftr offer is the most attractive way to buy vouchers for any purchase, but you will now get only 5X points from now on instead of 10X points. However, you can buy more Amazon and Flipkart vouchers going forward, as the limits have been doubled as compared to the earlier limit.

What do you think of the changes in HDFC Bank SmartBuy Gafter Point Earning Ratio?

(from h/t Pranav)

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