New cap introduced on voucher-based rewards
Under the revised structure, the bank has set a separate monthly ceiling on accelerated rewards earned via brand vouchers. For most premium credit cards, such earnings will now be restricted to 3,000 reward points per calendar month.
This limit is now part of the broader SmartBuy reward structure, meaning it sits within the existing monthly entitlement rather than operating independently. As a result, spending through vouchers will no longer contribute to rewards beyond this defined threshold in a month.
Effect on spending patterns through SmartBuy
The update changes how customers approach reward optimisation on credit cards. Earlier, a significant share of users concentrated their SmartBuy transactions on gift card purchases to maximise point accumulation in a short span.
With the new framework in place, that approach loses effectiveness, as voucher transactions alone can no longer generate high volumes of accelerated points within a billing cycle. Users will now need to spread their SmartBuy usage across other eligible categories if they wish to utilise their full reward potential.
What this means for premium cardholders
Holders of premium cards such as Infinia, Diners Club Black and Regalia variants are among the most affected, given their higher engagement with SmartBuy for accelerated earnings.
While overall reward structures on these cards remain unchanged, the contribution from voucher-based spending is now capped, reducing the efficiency of previously popular spending routes.
Broader context behind the change
Banks have been gradually refining reward programs as digital spending patterns evolve. Structured use of vouchers and intermediary platforms had enabled users to extract higher-than-intended returns from loyalty systems. The latest adjustment aligns with efforts to make reward distribution more balanced across categories.
What remains unchanged
The core SmartBuy architecture continues without alteration. Category-wise reward earning, base credit card reward rates and overall monthly caps under SmartBuy remain in place. Only the extent of accelerated earnings from voucher-linked transactions has been adjusted.
