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HDFC Amazon Voucher Devaluation

Shubham Aggarwal

4 Apr 2025

3 minutes read

HDFC SmartBuy Amazon Vouchers Devaluation: Recent Changes and Impact on Returns

The HDFC SmartBuy program has been a favorite among credit card users seeking to maximise their rewards. However, recent changes in the fee structure have caused quite a stir in the Credit Card Rewards community. This devaluation particularly affects gift voucher transactions made for the Amazon platform, potentially reducing the overall value proposition for cardholders.

The Recent Devaluation

HDFC Bank has implemented an increase in their processing charges specifically for Amazon-related vouchers through their SmartBuy portal. The bank has increased the processing fee to 4.13% (including GST) on Amazon Pay and Amazon Shopping Vouchers.

Interestingly, this change does not apply across all merchants. For Flipkart, the processing fees remains unchanged at 2.95% (including GST). Amazon Fresh transactions, however, continue to be processed without any additional fees, providing a potential workaround for cardholders.

Impact on Different HDFC Cards

The increased fees affect the various HDFC credit cards differently based on their reward structures:

HDFC Infinia: Despite the increase, this premium card still delivers an impressive 12.54% net return rate, making it one of the most rewarding options in the HDFC credit card portfolio.
HDFC DCB and DCB (M): These cards now offer a reduced net return rate of 5.87%, which remains competitive but is certainly less attractive than before the fee increase.
HDFC BizBlack: Like the DCB variants, this business-focused card now provides a 5.87% net return rate.

Conclusion

The recent increase in processing fees for Amazon vouchers through HDFC's SmartBuy program represents a notable devaluation for cardholders. While premium cards like the Infinia continue to offer strong returns, the change diminishes the overall value proposition, particularly for DCB and BizBlack cardholders. As banks continue to adjust their reward programs and fee structures, cardholders must stay informed and adaptable, potentially shifting their spending patterns to maximize returns.