HDFC Bank Best Price Save Smart Credit Card – Benefits, Fees & Eligibility

Introduction

The Best Price Save Smart Credit Card, issued by HDFC Bank, was positioned as a specialized credit card designed for Best Price members, offering significant savings and cashback on both business and personal spending. Its key differentiating benefits included substantial cashback on Best Price spends, attractive EasyEMI offers on a wide range of goods, and exclusive dining benefits. Please note that the sourcing of this credit card has been stopped, and new applications are no longer being accepted; however, existing cardholders continue to enjoy its benefits.

Welcome Benefits

• First year membership fee waived on spending ₹20,000 and above within the first 90 days of card setup.
• ₹150 CashBack on 4 or more purchases within the first 90 days of card setup, with a minimum cart value of ₹150 per purchase.
• Launch Offer (valid for customers sourced till March 31, 2020, for 1 year from card set-up date):
  • ₹500 CashBack on spending ₹25,000 every month.
  • ₹250 CashBack on spending ₹10,000 per month on dining, utility, or IRCTC (identification based on Merchant Category Codes).

Fees

• Joining/Renewal Membership Fee: ₹500 plus applicable taxes.
• Spend-Based Waiver:
  • First year membership fee waived on spending ₹20,000 and above within the first 90 days.
  • Renewal fee waived for the next renewal year on annual spends of ₹50,000.
• Interest Rates: A maximum interest rate of 3.6% per month (43.2% per annum) is charged on the amount due/unpaid amount.
• Fuel Surcharge Waiver: 1% fuel surcharge waiver at all fuel stations across India on a minimum transaction of ₹400. Maximum CashBack for this waiver is ₹250 per statement cycle.

Rewards

• CashBack Benefits:
  • 1% CashBack on all Best Price spends up to ₹10,000 per month.
  • Assured CashBack of ₹500 on spends of ₹25,000 every month.
  • ₹250 CashBack on spending ₹10,000 every month on dining, utility, or IRCTC (based on Merchant Category Codes).
  • 0.5% CashBack for every ₹150 spent on retail purchases.
• EasyEMI Benefits:
  • EasyEMI offers on furniture, interiors, ACs, and other electronic goods.
  • No cost-EMI on buying interiors, furniture, electronics, ACs, and more in bulk.
  • Offers valid on brands such as Damro, Dash Square, Durian Industries, EVOK, Furniturewalla, Godrej Interior, Royal Oak, Stanley, The Maark Trendz, Kelvinator, Blue Star, and Reliance Digital.
  • Ability to convert large transactions to a SmartEMI after purchase.
• Dining Benefits:
  • 20% savings on paying via Dineout Pay.
  • Maximum discount per transaction capped at ₹1,000.
  • Maximum discount per month capped at ₹1,000.
• Milestone Benefit:
  • ₹500 CashBack on shopping of ₹75,000 in a calendar quarter.
• Usage Benefits:
  • Up to 50 days of interest-free credit from the date of purchase.
  • Protection against fraudulent transactions made on your Credit Card.
• Banking Benefits:
  • Revolving Credit at nominal interest rate.
  • Zero liability on fraudulent transactions made with your card, if card loss is reported immediately to the bank’s 24-hour call centre.
  • Bill payment made easy with HDFC Bank’s SmartPay service.
• Fuel Surcharge Waiver: 1% fuel surcharge waiver at all fuel stations across India on minimum transaction of ₹400, with a maximum CashBack of ₹250 per statement cycle.

Rewards Redemption Guide

• Reward points can be effortlessly viewed and redeemed with just a click through the card management interface.

Card Eligibility Criteria

• Applicants should hold a Best Price membership.
• Applicants must be self-employed Indian Citizens aged between 21 years to 65 years.
• Gross Annual Income (as per ITR) should be greater than ₹6 lakh annually.
• For salaried individuals, the minimum salary required is ₹50,000 per month.

Card Review

The Best Price Save Smart Credit Card was designed for Best Price members, offering a strong value proposition through its cashback on Best Price spends, EasyEMI options for bulk purchases, and dining discounts. While it provided significant benefits for its target audience, new applications for this card have been discontinued. Existing cardholders can continue to leverage its features, which include a substantial interest-free credit period and robust fraud protection. Its fee waiver conditions were also achievable for regular users, making it a cost-effective option for those who met the spend thresholds.

Important Product Details

• Positive Highlights:
  • Significant cashback on Best Price spends and other categories like dining, utility, and IRCTC.
  • Attractive EasyEMI options for large purchases, especially for business needs, across a wide range of brands.
  • Up to 50 days of interest-free credit period.
  • Zero lost card liability and protection against fraudulent transactions.
  • Achievable spend-based fee waivers for both first-year and renewal fees.
  • Contactless payment functionality for convenient transactions.
  • Exclusive SmartBuy Business portal access for cardholders.
• Negative Highlights:
  • Sourcing of this credit card has been stopped, meaning new applications are not accepted.
  • An annual fee of ₹500 plus taxes applies, though it can be waived based on spending.
  • High maximum interest rate on unpaid amounts (up to 3.6% per month).

Other Details

• Card Management & Controls:
  • A unified platform is available for managing Credit Cards, Debit Cards, FASTag, and Business Loans.
  • Features a simple, intuitive interface to monitor and manage all business expenses.
• Additional Features:
  • Utility bill payments are facilitated by registering the card with HDFC Bank’s SmartPay service.
  • Zero Lost card liability is provided on fraudulent transactions if reported immediately to the 24-hour call centre.
  • Revolving Credit is available at a nominal interest rate.
  • Exclusive SmartBuy Business portal access is provided for all Business cardholders.
• Contactless Payment:
  • The Best Price Save Smart Credit Card is enabled for Contactless Payments at retail outlets.
  • In India, payment through contactless mode is allowed for a maximum of ₹5,000 for a single transaction without requiring a Credit Card PIN. For amounts equal to or higher than ₹5,000, the cardholder must enter the Credit Card PIN for security reasons.
• Inactive Card Policy: HDFC Bank reserves the right to cancel the card if it remains inactive and is not used for any transaction for a continuous period of 6 months, after providing prior written notice to the cardholder.
• Terms and Conditions: All banking offerings, including this credit card, are governed by specific Most Important Terms and Conditions, which cardholders are advised to review thoroughly.