HDFC Bank BizFirst Credit Card – Benefits, Fees & Eligibility

HDFC Bank BizFirst Credit Card

Introduction

The HDFC Bank BizFirst Credit Card is specifically designed to cater to business-related expenses, offering a substantial interest-free credit period of up to 55 days. It features a tiered rewards program, providing 3% CashPoints on EMI spends, 2% on utility bills, electronics, SmartPay, and PayZapp transactions, and 1% on all other expenditures, including UPI payments. With a modest joining and renewal fee of ₹500 plus GST, the card offers an easily achievable waiver on its renewal fee by spending ₹50,000 annually. Cardholders also benefit from a welcome voucher worth ₹250, milestone rewards, and a host of business-centric advantages such as facilitating GST and Income Tax payments, exclusive discounts on business travel and software, and an optional comprehensive business insurance package.

Welcome Benefits

• Receive a Gift voucher worth ₹250 on making one transaction with your HDFC Bank BizFirst Credit Card within the first 37 days of card issuance.
• The voucher is redeemable on popular brands such as Amazon and Swiggy.

Fees

• Joining Fee: ₹500 + Applicable Taxes (GST).
• Renewal Fee: ₹500 + Applicable Taxes (GST).
• Spend-Based Waiver: The renewal fee is waived for the subsequent year if you spend ₹50,000 or more in an anniversary year (12 billing cycles).
• Rewards Redemption Fee: ₹99 + GST.
• Foreign Currency Markup: 3.5%.
• Interest Rates: 3.75% Monthly (equivalent to 45% Annually).
• Fuel Surcharge: 1% fuel surcharge waiver at all fuel stations across India.
  • This waiver applies to transactions between a minimum of ₹400 and a maximum of ₹5,000.
  • The maximum cashback from fuel surcharge waiver is capped at ₹250 per statement cycle.
• Cash Advance Charges: 2.5% of the advanced amount or ₹500, whichever is higher.

Rewards

• Interest-Free Credit Period: Enjoy an interest-free credit period of up to 55 days.
• CashPoints Earning Structure:
  • Earn 3% CashPoints on EMI Spends (including Merchant/EasyEMI, Aggregator EMI, and Brand EMI). Maximum earning limit is 1,000 CashPoints per calendar month.
  • Earn 2% CashPoints on Utility bills, Electronics, SmartPay, and Payzapp transactions. Maximum earning limit is 500 CashPoints per calendar month.
  • Earn 1% CashPoints on all other spends, including UPI transactions. Maximum earning limit is 500 CashPoints per calendar month.
  • No CashPoints will be earned for Fuel, Rent Payments, Education Transactions, Wallet/Gift/Prepaid Card loads, or voucher purchase transactions.
  • The maximum CashPoints that can be earned in a statement cycle is 15,000.
  • Unredeemed CashPoints will expire or lapse after 2 years from the date of accumulation.
• Milestone Benefits:
  • Earn 2,000 CashPoints every quarter on quarterly spends of ₹75,000 and above.
  • This benefit applies to all retail spends, excluding rent and petrol.
• Business Specific Benefits:
  • GST Payment: Conveniently make GST payments using your Business Credit Card through the GST portal (payment.gst.gov.in).
  • Income Tax/Advance Tax Payment: Pay Income Tax and Advance Tax using your Business Credit Card via the eportal.incometax.gov.in.
  • SmartBuy BizDeals: Access up to 40% savings on business travel and software purchases via smartbuy.hdfcbank.com/business.
    • Business Travel Benefits (via MMT MyBiz):
      • 4% off on Flights and Hotel bookings.
      • Benefit from discounted fares, free meal & seat selection, and low fees for cancellations.
    • Business Productivity Tools (via Nuclei):
      • Receive instant discounts on Business Software such as Google Workspace, Tally Prime, AWS, Microsoft Azure, and more.
      • Get a GST Invoice for availing Input Tax Credit.
• UPI Payment Benefits:
  • Enjoy 1% CashPoint benefits when making UPI payments using your RuPay Biz First Credit Card.
• Dining Benefits:
  • Indulge in dining discounts with a Flat 10% EXTRA OFF on dining bills at over 35,000+ restaurants when you pay with your HDFC Bank BizFirst Card via Swiggy Dineout.
• SmartBuy Offers:
  • Get up to 5% Cash Back on travel and online shopping when using SmartBuy.
• SmartPay Benefits:
  • SmartPay is an automatic payment facility available on your Credit Card for utility bills.
  • Get assured cashback up to ₹1,800 in the first year.
  • Receive exciting e-vouchers worth up to ₹800 for adding 2 or more bills on SmartPay.
• EMI Options:
  • Smart EMI: Offers the option to convert your large spends into EMIs after purchase.
  • Easy EMI: Choose an EMI option for your large online or in-store purchases and avail easy repayments. EMI details such as amount, total loan, and interest rate are displayed at the time of transaction.
• Business Insurance Benefit:
  • Secure your Business with a specially curated Business Insurance package available starting at an annual premium of ₹3,785 (inclusive of GST).
  • Cardholders have the flexibility to choose a higher Business Insurance cover based on their specific business needs.
  • Insurance Plan 1 (Total Premium with GST: ₹3,785):
    • Fire & Burglary insurance for Shop (excluding Theft): ₹5,00,000
    • Cash in Safe: ₹25,000
    • Cash in Transit: ₹25,000
    • Electronic Equipment insurance (excluding terrorism): ₹50,000
    • Hospital Cash: Accident Only Amount Payable/Day (30 Days Cover): ₹1,000
    • Hospital Cash: Illness Only Amount Payable/Day (30 Days Cover): ₹1,000
  • Insurance Plan 2 (Total Premium with GST: ₹7,341):
    • Fire & Burglary insurance for Shop (excluding Theft): ₹10,00,000
    • Cash in Safe: ₹50,000
    • Cash in Transit: ₹50,000
    • Electronic Equipment insurance (excluding terrorism): ₹1,00,000
    • Hospital Cash: Accident Only Amount Payable/Day (30 Days Cover): ₹1,500
    • Hospital Cash: Illness Only Amount Payable/Day (30 Days Cover): ₹1,500
  • Insurance Plan 3 (Total Premium with GST: ₹14,681):
    • Fire & Burglary insurance for Shop (excluding Theft): ₹20,00,000
    • Cash in Safe: ₹1,00,000
    • Cash in Transit: ₹1,00,000
    • Electronic Equipment insurance (excluding terrorism): ₹2,00,000
    • Hospital Cash: Accident Only Amount Payable/Day (30 Days Cover): ₹2,000
    • Hospital Cash: Illness Only Amount Payable/Day (30 Days Cover): ₹2,000
  • Insurance Plan 4 (Total Premium with GST: ₹28,185):
    • Fire & Burglary insurance for Shop (excluding Theft): ₹50,00,000
    • Cash in Safe: ₹2,50,000
    • Cash in Transit: ₹2,50,000
    • Electronic Equipment insurance (excluding terrorism): ₹2,50,000
    • Hospital Cash: Accident Only Amount Payable/Day (30 Days Cover): ₹5,000
    • Hospital Cash: Illness Only Amount Payable/Day (30 Days Cover): ₹5,000
• Zero Lost Card Liability:
  • In the unfortunate event of losing your HDFC Bank BizFirst Credit Card, by immediately reporting it to Customer Care, you will have zero liability on any fraudulent transactions made on your Credit Card.
  • Credit liability cover is up to ₹3 lakh.

Rewards Redemption Guide

• CashPoints can be redeemed as:
  • Cashback against statement: Up to ₹0.15 per CashPoint (e.g., 1000 CashPoints = ₹150).
  • On SmartBuy (against Flights/Hotel booking): ₹0.15 per CashPoint (e.g., 1000 CashPoints = ₹150).
  • Against Product Catalogue via Netbanking & SmartBuy: Up to ₹0.15 per CashPoint (e.g., 1000 CashPoints = Up to ₹150).
  • Against Business Catalogue via Netbanking & SmartBuy: Up to ₹0.20 per CashPoint (e.g., 1000 CashPoints = Up to ₹200).
• Redemption Conditions:
  • A minimum of 2,500 CashPoints is required to redeem CashPoints against the statement balance.
  • For Flights and Hotels redemption, Credit Card members can redeem up to a maximum of 50% of the booking value through CashPoints. The remaining transaction amount must be paid via the Credit Card limit.
  • Effective from 1st February 2023, cardmembers can redeem up to 70% of the product/voucher value through CashPoints on select vouchers/products and pay the remaining amount via Credit card.
  • The maximum 15,000 CashPoints can be earned in a statement cycle.
  • Unredeemed CashPoints will expire/lapse after 2 years of accumulation.

Card Eligibility Criteria

• Occupation: Self Employed Indian Citizen.
• Age: Between 21 years to 65 years.
• Annual Income: Annual ITR (Income Tax Return) above ₹6 Lakhs.
• Application Documents: Customers can apply for the credit card using ITR, GST returns, Bank Statements, and Merchant payment reports.

Card Review

The HDFC Bank BizFirst Credit Card is an excellent choice for self-employed individuals and businesses looking for a card specifically designed to manage their operational expenses efficiently. It offers a low entry barrier with a joining and annual fee of ₹500, easily offset by an annual spend of ₹50,000 for a renewal fee waiver. The card's strength lies in its tailored reward structure, providing accelerated CashPoints on key business expenditures like EMIs, utility bills, and digital payments. Beyond rewards, it simplifies crucial business tasks such as GST and Income Tax payments and provides access to valuable savings on travel and software through SmartBuy BizDeals. The dining discounts and optional comprehensive business insurance further enhance its value proposition. While it may not be geared towards broad entertainment benefits, its core focus on business-centric features, combined with a generous 55-day interest-free period and achievable spend-based waiver, makes it a highly valuable tool for managing and optimizing business finances. Those prioritizing a rewarding and low-fee card for their business needs should strongly consider the HDFC Bank BizFirst Credit Card.

Important Product Details

• Best suited for business expenses.
• Offers up to 55 days of interest-free credit period.
• Joining and Renewal Fee: ₹500 + GST.
• Renewal fee waiver upon spending ₹50,000 in an anniversary year.
• Earn 3% CashPoints on EMI spends (maximum 1,000 CPs/month).
• Earn 2% CashPoints on utility bills, electronics, SmartPay & Payzapp (maximum 500 CPs/month).
• Earn 1% CashPoints on all other spends including UPI (maximum 500 CPs/month).
• Welcome Benefit: ₹250 gift voucher on first transaction within 37 days.
• Milestone Benefit: 2,000 CashPoints every quarter on spends of ₹75,000 and above (excluding fuel and rent).
• Facilitates GST and Income Tax payments.
• Provides up to 40% savings on business travel and software via SmartBuy BizDeals.
• Includes 1% fuel surcharge waiver (max ₹250 cashback per cycle, on transactions between ₹400-₹5,000).
• Offers Flat 10% extra off on dining bills at 35,000+ restaurants via Swiggy Dineout.
• Options to convert big spends into Smart EMI or Easy EMI.
• Optional comprehensive Business Insurance package available starting from ₹3,785 annually.
• Zero Lost Card Liability with a credit liability cover of ₹3 lakh.
• Rewards Redemption Fee: ₹99 + GST.
• Foreign Currency Markup: 3.5%.
• Interest Rates: 3.75% Monthly (45% Annually).
• Cash Advance Charges: 2.5% or ₹500, whichever is higher.
• CashPoints can be redeemed for cashback (up to ₹0.15/CP), flights/hotels (₹0.15/CP), product catalogue (up to ₹0.15/CP), and business catalogue (up to ₹0.20/CP).
• Minimum 2,500 CashPoints required for statement cashback redemption.
• Up to 50% of booking value can be redeemed using CashPoints for flights/hotels.
• Up to 70% of product/voucher value can be redeemed using CashPoints on select items.
• Maximum 15,000 CashPoints can be earned in a statement cycle.
• CashPoints are valid for 2 years from accumulation.

Other Details

• PIN Setting Process:
  • Using MyCards: Visit HDFC Bank MyCards (mycards.hdfcbank.com), enter your registered mobile number and authenticate with OTP, select "Biz First Credit Card", then choose "Set Pin" and enter your 4-digit PIN.
  • Using IVR: Call 1860 266 0333 from your registered mobile number, key in the last 4 digits of your Business Credit Card number, validate with an OTP sent to your registered mobile number, and set your desired 4-digit PIN.
  • Using Mobile Banking: Log in to Mobile Banking, navigate to the "Cards" Section, select "Biz First Credit Card", choose "Change Pin", enter your 4-digit PIN and confirm, then authenticate using an OTP to generate the PIN successfully.
  • Using Net Banking: Log in to Net Banking, click on "Cards", visit the "Request" Section, choose "Instant Pin generation", select the card number, and enter your 4-digit PIN.
• Contactless Payment:
  • Your HDFC Bank BizFirst Credit Card is enabled for contactless payments, ensuring fast, convenient, and secure transactions at retail outlets.
  • In India, payments through contactless mode are allowed for a maximum of ₹5,000 for a single transaction without requiring your Credit Card PIN.
  • For transactions equal to or higher than ₹5,000, the Card holder must enter the Credit Card PIN for security reasons.
• Manage Your Card on the Go (HDFC Bank MyCards platform - mycards.hdfcbank.com):
  • Enable or disable online & contactless usage.
  • View transactions, CashPoints balance, statements, and more.
  • Manage online usage, contactless usage, set spending limits, and enable/disable various card features.
  • Check your Credit Card outstanding balance, due date, and other account details.
• Set Card Control:
  • You can enable various card control services using MyCards (preferred), EVA, WhatsApp Banking, or Net Banking.
• Customer Care Details:
  • Toll-Free Numbers: 1800 1600 / 1800 2600
  • Email: customerservices.cards@hdfcbank.com