Credit card changes from April 1: Reasons behind benefit shifts

As April 1st approaches, major credit card issuers in India are preparing to implement policy changes affecting the accumulation of reward points and access to lounge benefits. Banks such as SBI Card, ICICI Bank, Axis Bank, and others are adjusting their terms and conditions.

But why is this happening? Well, credit cards typically undergo various changes over time, including alterations to rewards programs, promotional offers, annual fees, and eligibility criteria.

For consumers facing a significant devaluation of their credit card benefits, their primary option is to explore alternative credit cards, either within their existing options or by considering new ones, Rohit Chhibbar, Head of Credit Cards Business at Paisabazaar, told CNBC-TV18.

"If the card has undergone a major devaluation and now falls below the expectations, the only real choice, as a consumer, is to look at other alternative credit cards, either from the existing ones or a new one. While doing this, consumers should ensure that the alternative option also suits their spending habits and is significantly better than the devalued card in terms of the overall value it provides," he told CNBC-TV18.com.