# Major devaluations have hit multiple premium and super-premium cards.

*fintech · news · 2026-04-14 · The Economic Times*

## Key points

- Major Indian banks have sharply devalued premium credit card rewards since early 2024.
- Axis Bank removed three popular transfer partners from its rewards program without advance notice.
- IDFC First Bank offers premium features across its portfolio, including FD-backed secured premium cards.
- Punjab National Bank launched the Luxura metal card on both RuPay Ekaa and Visa Infinite platforms.

**Companies:** American Express, ICICI Bank, HDFC Bank, Axis Bank, Bank of Baroda, Punjab National Bank, IDFC First Bank, BOBCard
**Countries:** India

[Read the full story on The Economic Times](https://economictimes.indiatimes.com/industry/banking/finance/banking/game-of-cards-top-banking-players-opt-for-tight-gambit-rivals-up-the-ante/articleshow/130268038.cms)

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