HDFC Bank Quietly Raises Infinia Fee Waiver Spend to ₹18 Lakh — What the Sharp Jump Signals
HDFC Bank appears to have significantly tightened eligibility criteria for its ultra-premium Infinia credit card, raising the annual spend requirement for fee waiver benefits from about ₹8 lakh to ₹18 lakh, according to emails received by cardholders. The revision marks a sharp increase in the minimum spending threshold and signals a shift in the bank’s strategy toward retaining only high-value customers within its premium card portfolio.
Under the revised framework communicated to customers, cardholders will need to meet at least one of two conditions in a financial year to continue receiving fee waivers and programme benefits. Customers must either spend ₹18 lakh annually across primary and add-on cards or maintain a Relationship Value (RLV) of ₹50 lakh, which includes average balances across savings accounts, current accounts and fixed deposits.
The revised norms represent more than a doubling of the previous spend-based waiver requirement and indicate a clear repositioning of the Infinia card as a product targeted primarily at affluent and high-engagement banking customers. The changes suggest a broader shift in how premium credit cards are being structured, with banks increasingly linking benefits to profitability and long-term customer value.
Existing Customers Get Transition Window Until March 2027
The communication indicates that existing Infinia cardholders will continue to receive uninterrupted benefits under the old criteria until March 2027, providing a transition period before the revised norms are implemented.
The first review under the new framework is expected to take place in April 2027, after which customers who do not meet the revised thresholds could lose fee waiver privileges or potentially face changes in card eligibility.
The transition window suggests that the bank is seeking to gradually align customer behaviour with the new requirements rather than implementing immediate changes. This approach reduces the risk of abrupt customer exits while giving cardholders time to increase spending or deepen their banking relationships.
For many cardholders, however, the revised threshold represents a significant jump in annual spending requirements and may require a reassessment of how they use the card.
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Changes Communicated Via Email, Not Yet Officially Announced
Notably, the revised fee waiver norms have not yet been formally announced on the bank’s website or through any public disclosure, and appear to have been communicated directly to customers through email notifications.
The absence of a formal announcement suggests that the rollout may be happening in phases or through targeted customer communication rather than a single public update. Several cardholders have reported receiving emails outlining the revised criteria, indicating that the changes may already be in effect for new eligibility assessments.
The bank had not issued an official statement on the revised criteria at the time of publication, although queries seeking clarification have been submitted. The lack of public disclosure has also contributed to uncertainty among cardholders regarding the exact scope and timeline of the changes.
Selective communication is not uncommon for premium banking products, where eligibility criteria are often tailored to customer segments. However, the scale of the increase has drawn attention among cardholders and financial product observers.
Relationship Value Requirement Highlights Shift Toward Wealth-Based Banking
The introduction of a ₹50 lakh Relationship Value requirement as an alternative eligibility criterion highlights a growing emphasis on wealth-based banking relationships rather than transaction-based engagement alone.
Relationship Value typically includes average balances maintained across multiple banking products, including savings accounts, current accounts and fixed deposits. By linking eligibility to these balances, the bank is encouraging customers to consolidate their banking relationships rather than using the credit card as a standalone product.
This approach allows banks to improve overall customer profitability by capturing deposits, investment flows and lending relationships alongside card spending.
The structure also aligns with broader industry trends in premium banking, where high-value customers are increasingly targeted through integrated wealth and credit offerings rather than individual financial products.
Premium Card Economics Under Pressure
The tightening of eligibility norms reflects broader changes in the economics of premium credit cards, where rising reward costs and benefit expenses have prompted banks to reassess pricing and eligibility structures.
Premium cards typically offer high reward rates, travel benefits and concierge services, all of which carry significant costs for issuers. As competition among banks has increased, benefit structures have expanded, putting pressure on profitability unless spending levels and customer balances remain high.
By raising the fee waiver threshold, the bank can ensure that customers who continue to receive premium benefits generate sufficient revenue through transaction fees and cross-selling opportunities.
The revision also indicates that banks are becoming more selective about retaining customers in ultra-premium card programmes, focusing on long-term value rather than rapid customer acquisition.
Potential Benefits of the New HDFC Infinia Criteria
The revised Infinia credit card eligibility norms may offer certain advantages for high-value customers and the bank’s premium ecosystem.
Better Premium Experience for Eligible Users
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Higher spending requirements may reduce overcrowding in premium benefits such as airport lounges and concierge services.
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Exclusive benefits may improve for customers who meet the higher criteria.
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Premium positioning of the Infinia card could strengthen long-term value.
Stronger Relationship Banking Benefits
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Customers maintaining ₹50 lakh Relationship Value (RLV) can qualify without high card spending.
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Encourages integrated banking relationships including deposits and investments.
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May unlock additional wealth management services.
Improved Reward Sustainability
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Banks tightening eligibility helps maintain reward programs and travel benefits.
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Reduces the risk of reward devaluation in future.
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Premium benefits could remain stable for long-term users.
Long Transition Period for Existing Customers
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Existing cardholders remain protected until March 2027.
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Customers get enough time to adjust spending or banking balances.
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No immediate disruption to card benefits.
Potential Risks and Concerns for Cardholders
The revised norms also introduce several risks and challenges, particularly for moderate spenders.
Sharp Increase in Spending Requirement
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Fee waiver spend increased from ₹8 lakh to ₹18 lakh, more than double.
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Many existing customers may struggle to qualify.
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Higher annual fees may become unavoidable for some users.
Reduced Accessibility of Premium Card
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Infinia card may become limited to ultra-high-net-worth customers.
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Mid-level premium users may shift to alternative cards.
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Customer attrition risk may increase.
Higher Cost of Maintaining Benefits
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Users failing to meet new criteria may need to pay annual fees.
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Cost-benefit equation may change for some cardholders.
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Rewards may not justify higher spending for all users.
Uncertainty Due to Lack of Official Announcement
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Changes communicated only via email so far.
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No formal website disclosure yet.
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Final policy details may still evolve.
Why Investors May Pay Attention
Although the changes relate to a specific premium credit card product, they reflect a broader shift in retail banking strategy among large private-sector banks.
Stricter eligibility criteria for premium cards indicate a greater focus on profitability and capital efficiency in retail banking operations. Premium credit card portfolios are often closely linked to affluent customers, who typically generate higher lifetime value through deposits, investments and lending products.
Measures that improve profitability per customer can support long-term return ratios for banks even if customer growth slows.
The revision also suggests that banks are becoming more disciplined in managing the economics of reward programmes and premium benefits.
What to Watch Next
Market participants and cardholders will be watching for further clarification from the bank regarding the revised criteria and the timeline for full implementation.
Key developments to monitor include:
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Official confirmation of revised eligibility norms
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Changes in annual fees or benefits
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Expansion of relationship-based eligibility criteria
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Similar revisions in other premium cards
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Customer response to higher thresholds
If similar changes emerge across the industry, it could signal a broader tightening cycle in premium credit card benefits.
