HDFC Bank Business Gold Credit Card – Benefits, Fees & Eligibility

Introduction

The HDFC Bank Business Gold Credit Card is a business-oriented credit card that is currently phased out, meaning new applications are no longer being accepted. Existing cardholders, however, continue to enjoy its benefits. Key differentiating benefits include surcharge waivers on rail tickets, cashback on domestic air tickets, comprehensive HDFC ERGO Travel Insurance, and 1% cashback on utility bill payments, alongside an interest-free credit period of up to 50 days.

Fees

• Joining Membership Fee: ₹500 plus Applicable Taxes.
• Membership Renewal Fee (2nd year onwards): ₹500 plus Applicable Taxes per year.
• Spend-Based Waiver: The renewal fee of ₹500 is waived on annual spends of a minimum of ₹50,000 on the Business Gold Credit Card.
• Cash Advance Charges: A fee of 2.5% of the amount withdrawn, with a minimum of ₹500, is applicable on all cash withdrawals.
• Interest Rates:
  • Interest at the rate of 3.49% per month will be charged on any outstanding amount carried beyond the bill due date.
  • A reduced interest rate of 1.99% per month applies if the card is issued against a fixed deposit.
• Fuel Surcharge: Up to ₹250 in savings on fuel spends ranging from ₹400 to ₹5000.

Rewards

• Reward Points: Earn Reward Points on every ₹150 spent.
• Air Travel Cashback: Receive 1% cashback on air tickets booked through domestic airline websites, up to ₹500 per statement.
• Rail Travel Surcharge Waiver: Enjoy surcharge waivers on rail tickets booked via IRCTC, up to ₹500 per statement.
• Travel Insurance: Travel abroad securely with an HDFC ERGO Travel Insurance Policy.
• Utility Bill Payments: Get 1% cashback on utility bill payments.
• Fuel Benefits: Save up to ₹250 on fuel spends between ₹400 and ₹5000. Please note that Reward Points will not be accrued for fuel transactions effective April 15, 2016.
• Lounge Access: Lounge access is not available with the Business Gold Credit Card.

Rewards Redemption Guide

• Reward points can be viewed and redeemed through a simple, unified interface.

Card Review

• Overall Verdict: The HDFC Bank Business Gold Credit Card is a discontinued product, meaning it is no longer available for new applications. However, existing cardholders can continue to utilize its benefits, and the bank plans to communicate options for upgrading to suitable alternative card variants.
• Pros: The card offers valuable travel benefits, including waivers on rail ticket surcharges, cashback on domestic air tickets, and travel insurance. It also provides practical benefits like 1% cashback on utility bill payments and savings on fuel. Cardholders benefit from an interest-free credit period of up to 50 days, enhanced security with EMV Chip technology, and zero liability for fraudulent transactions.
• Cons: The primary limitation is its status as a phased-out product, which means no new customers can apply. It does not offer lounge access, and reward points are not earned on fuel transactions.
• Who should apply: This card is not available for new applications. Existing cardholders who frequently use public transport (rail/air), manage utility bills, and prioritize basic security features will find its existing benefits useful until they transition to a new card.

Important Product Details

• Positive Highlights:
  • Offers an interest-free credit period of up to 50 days from the date of purchase.
  • Features EMV Chip Card technology for secure transactions.
  • Provides zero liability for fraudulent transactions if reported immediately to HDFC Bank’s 24/7 Call Centre.
  • Includes a single unified platform for managing Credit Cards, Debit Cards, FASTag, and Consumer Durable Loans.
  • Offers a simple interface for tracking all card spends.
  • SmartPay facility is available for automatic utility bill payments.
• Negative Highlights:
  • Sourcing of this credit card has been stopped, and it is a phased-out product.
  • Lounge access is not available for Business Gold Credit Card holders.
  • Reward Points are not accrued for fuel transactions, effective April 15, 2016.

Other Details

• Existing customers of this card will continue to enjoy the benefits.
• The bank will communicate with existing users about upgrading to the next best card variant for them.
• Revolving Credit is available at a nominal interest rate.
• The interest-free credit offer is subject to the submission of the charge by the merchant.
• The Most Important Terms and Conditions document outlines all specific terms and conditions governing the card's use, which users are advised to review thoroughly.
• The credit limit for the card is communicated by the bank based on the applicant's eligibility and creditworthiness.
• The Business Gold Credit Card is not free of cost and involves charges.