Credit Card News Round-up: ICICI’s iShop Launch, HSBC Devaluation & Amex Marriott Bonus – What You Need to Know

The credit card landscape is evolving rapidly, with banks rolling out new features, devaluing benefits, and offering limited-time perks. This week, we dive into three major updates that could impact your rewards strategy. ICICI Bank has launched its iShop portal, a potential rival to HDFC’s SmartBuy. Meanwhile, HSBC has devalued its Premier Credit Card, reminding us why chasing new issuers can be risky. On a brighter note, American Express is finally offering a Marriott Bonvoy transfer bonus, providing some relief to travel enthusiasts.

Let’s break down what these changes mean for you! 🚀

1️⃣ ICICI iShop Portal – A SmartBuy Rival?

ICICI Bank has officially launched its iShop portal, which closely resembles HDFC Bank’s SmartBuy. The platform offers higher spending limits in several categories compared to HDFC, making it a strong competitor on paper. However, the real catch lies in the accessibility of the Emeralde Private Metal Card, which is the most rewarding but also extremely difficult to obtain.

📌 Verdict: It’s too early to judge! With new updates rolling in daily, it's best to wait and watch. If executed well, ICICI’s move could pose a real challenge to HDFC Infinia users.

2️⃣ HSBC Premier Devaluation – A Lesson in FOMO

HSBC has quietly devalued its Premier Credit Card rewards program, reinforcing why rushing to new issuers out of FOMO (Fear of Missing Out) can backfire. Previously, the card was a flat 3% reward rate across all spends, making it a go-to for categories that most banks exclude.

🚨 What’s Changing?

• Several transactions, including education, fuel, jewelry, real estate, and e-wallets, will no longer earn reward points.

• Utility & insurance payments will still earn points, but they’re now capped at ₹1,00,000 per month.

  
  

This is a big blow for existing HSBC Premier cardholders who relied on it for high rewards on previously unrestricted spending. Lesson learned? Don’t jump ship too fast!

3️⃣ Amex Finally Offers a Marriott Transfer Bonus

Lastly, in this edition of the Credit Card News Round-Up, after a long wait, American Express has introduced a 10% bonus on points transfers to Marriott Bonvoy, a much-needed relief after the recent increase in Marriott redemption rates.

💡 Stacking Strategy: If combined with the Platinum Card’s welcome offer, you could get 150K Membership Rewards points + 15K bonus, which translates to 165K Marriott Bonvoy points for ₹66,000 + GST. Not a game-changer, but definitely better than nothing!

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