HDFC Bank Bharat Credit Card – Benefits, Fees & Eligibility

Introduction

The HDFC Bank Bharat Credit Card, issued by HDFC Bank, was designed as an entry-level cashback credit card, catering to individuals seeking to save on everyday expenses. It offered a compelling 5% monthly cashback across various essential spending categories, including fuel, groceries, bill payments, mobile recharges, and transactions made through HDFC Bank's digital platforms like PayZapp, SmartBuy, and EasyEMI. Additionally, cardholders benefited from a 1% fuel surcharge waiver.

Positioned as a pocket-friendly option, the HDFC Bank Bharat Credit Card was particularly well-suited for new credit card users looking to build their credit history while enjoying tangible savings. However, it is important to note that the sourcing of this credit card has been stopped, and it is now discontinued, meaning new applications are no longer being accepted. Existing customers, however, continue to enjoy its benefits.

Fees

The HDFC Bank Bharat Credit Card comes with a joining fee of ₹500 + GST. A similar renewal fee of ₹500 + GST is applicable annually. However, the renewal fee can be waived off if the cardholder spends ₹20,000 or more in the previous year.

For redeeming reward points, a fee of ₹99 is charged. International transactions incur a foreign currency markup fee of 3.5% on the conversion amount. The interest rate on revolving credit is 3.6% per month, which translates to 43.2% per annum.

A 1% fuel surcharge waiver is provided on a minimum transaction of ₹400 at all fuel stations across India, with the waiver capped at ₹250 per billing cycle. Cash advance transactions are subject to charges of 2.5% of the transaction amount or ₹500, whichever is higher.

Rewards

The HDFC Bank Bharat Credit Card offers a robust cashback program, allowing cardholders to earn 5% cashback every month on specific spending categories. This includes:

• Category A Transactions: 5% monthly cashback on fuel expenses, railway ticket bookings through IRCTC, groceries, bill payments, and mobile recharges. The maximum cashback on all Category A transactions combined is capped at ₹150 per month.
• Category B Transactions: 5% monthly cashback on payments made through HDFC Bank's digital platforms such as PayZapp, EasyEMI, and SmartBuy. The maximum cashback on all Category B transactions combined is also capped at ₹150 per month.

Cashback earned on spends is retained as reward points. Recharges with mobile purchases or at mobile outlets are not eligible for 5% cashback. No cashback is offered on wallet loading, rent payments, or government transactions.

Rewards Redemption Guide

The cashback earned on the HDFC Bank Bharat Credit Card is accumulated as reward points. These reward points can be easily redeemed as cashback at the request of the cardholder, with a conversion rate of 1 Reward Point = Re. 1.

Reward point redemption is capped at 3,000 points per month. Additionally, a fee of ₹99 is charged for each reward redemption request. It is important to note that unredeemed reward points expire after 2 years of accumulation.

Card Eligibility Criteria

To apply for the HDFC Bank Bharat Credit Card, applicants needed to meet the following criteria:

• For Salaried Employees:
  • Age: Minimum 21 years and maximum 60 years.
  • Income: Minimum monthly gross income of ₹12,000.
• For Self-employed Individuals:
  • Age: Minimum 21 years and maximum 65 years.
  • Income: Minimum annual Income Tax Return (ITR) of ₹2 Lakhs.

Documents Required:

• Identity Proof: Aadhar Card, PAN Card, Voter’s ID, Passport, Driving License.
• Address Proof: Latest months’ utility bills, Aadhar Card, Passport.
• Proof of Income: Latest salary slips/bank statements or latest audited ITR.

Card Review

The HDFC Bank Bharat Credit Card was a decent entry-level offering, particularly for individuals new to credit cards or those looking for straightforward cashback on daily essential spends. Its 5% cashback rate on categories like fuel, groceries, bill payments, and mobile recharges, coupled with benefits on digital payment platforms like PayZapp and SmartBuy, made it an attractive option for maximizing savings on routine expenditures. The included accidental death cover and fuel surcharge waiver added further value.

However, the card had its limitations. The cashback was capped at ₹150 per month for each category group, which could restrict overall savings for high spenders. The absence of movie, dining, or lounge access benefits meant it lacked the lifestyle perks offered by many other cards. Furthermore, the ₹99 reward redemption fee and a 3.5% foreign currency markup were notable drawbacks. The most significant point to consider now is that the card has been discontinued, making it unavailable for new applications.

Ideal User Profile: The HDFC Bank Bharat Credit Card was ideal for individuals starting their credit journey, who primarily spend on utilities, fuel, groceries, and frequently use HDFC Bank's digital payment platforms. It was a good tool for building credit history while earning cashback on essential spends.

Verdict: While the HDFC Bank Bharat Credit Card offered solid cashback benefits for an entry-level card, its discontinuation means it is no longer an option for new cardholders. For existing users, it continues to be a valuable card for everyday savings, provided they are aware of the cashback caps and redemption fees.

Important Product Details

• Earn 5% monthly cashback on Category A transactions, including fuel expenses, railway ticket bookings through IRCTC, groceries, bill payments, and mobile recharges.
• Receive 5% monthly cashback on Category B transactions, which encompass payments made through PayZapp, EasyEMI, or SmartBuy.
• Cashback earned is retained as reward points, which can be redeemed as cash.
• Benefit from an interest-free credit period of up to 50 days from the date of purchase.
• Enjoy Zero Lost Card Liability, protecting you from unauthorized use if you report the loss or theft to the bank within 24 hours.
• The card is equipped with EMV Chip Card technology for enhanced security during transactions.
• Manage your card, track all your spends, and view or redeem your reward points conveniently through the MyCards unified platform.
• The annual renewal fee can be waived if you spend ₹20,000 or more in the preceding year.

Other Details

Credit Limit: The credit limit for the HDFC Bank Bharat Credit Card varies for different cardholders, depending on factors such as their credit history, monthly income, and other financial considerations. Individuals with higher income or a good credit history typically receive a higher limit. The credit limit may be increased over time with responsible card usage.

Application Process: While new applications for the HDFC Bank Bharat Credit Card are currently not being accepted due to its discontinuation, historically, individuals could apply both online and offline. The online process involved visiting the HDFC Bank's official website, navigating to the credit card section, selecting the HDFC Bank Bharat Credit Card, and filling out a digital application form. Offline applications could be made by visiting the nearest HDFC Bank branch with all required documents.

Inactive Card Policy: The bank reserves the right to cancel the card if it remains inactive and is not used for any transactions for a continuous period of 6 months, following prior written notice sent to the registered email address, phone number, or communication address.

GST Information: Effective July 1, 2017, Goods and Services Tax (GST) at a rate of 18% replaced the previous Service Tax, KKC, and SBC. The applicable GST depends on the place of provision and place of supply. GST for fees, charges, and interest transactions billed on the statement date will reflect in the next month's statement and will not be reversed in case of any dispute.