INCOME TAX20 Sept 2026
The points you do not own | Mint
HDFC Bank has changed the rules for its premium credit card. Now only big spenders or customers with high relationship value keep it; other cards get closed or downgraded. Reward points, tiers and lounge access are not your property, so a bank can end them. Your mutual fund units and shares stay yours. Put that effort into your portfolio instead.
Key Statutory Highlights
- HDFC Bank has said its premium credit card will now be given only to customers who spend a lot or hold a large relationship value with the bank.
- Customers who do not meet those limits will have their cards closed or downgraded, which led to complaints online and talk of approaching the RBI.
- Points, tiers, lounge access and relationship status are not your property, while mutual fund units and shares stay yours even if a scheme is merged or wound up.
Actionable Advice for Taxpayers / Founders:If you are working hard mainly to hit a card spending target, pause and check what your mutual funds charge and how your money is split between equity and debt. One fortnight spent on fund costs can matter more than reward points. Please treat this as general information and confirm your own numbers before acting.
Statutory Disclaimer: TaxQue Shorts are AI-assisted editorial briefs for compliance awareness. This brief has not passed every source check; confirm the original notification before acting. This does not constitute formal legal or CA counsel.
TaxQue News Desk
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