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

Introduction

The Business Platinum Credit Card, issued by HDFC Bank, was positioned as a premium credit card designed to enhance business spending with a broad range of benefits and rewards. Key differentiating benefits included airport lounge access, a fuel surcharge waiver, and cashback on international and high-value retail spends. However, the sourcing of this credit card has been stopped, and existing customers will be automatically upgraded to the Business MoneyBack Chip Credit Card upon renewal or reissuance.

Welcome Benefits

• Start your journey with a minimum of 500 points to redeem exciting rewards.

Fees

• Annual Fee: ₹299 plus applicable taxes.
• Renewal Fee: ₹299 plus applicable taxes.
• Cash Advance Charges: 2.5% of the amount or ₹500, whichever is higher.
• Fuel Surcharge: Waived off on fuel transactions ranging from ₹400 to ₹5,000, with a maximum waiver of ₹500 per statement cycle.
• Goods and Services Tax (GST):
  • As of July 1, 2017, GST is 18%, replacing the previous Service Tax, KKC, and SBC of 15%.
  • The applicable GST depends on the Place of Provision (POP) and Place of Supply (POS). If POP and POS are in the same state, CGST and SGST/UTGST apply; otherwise, IGST is applicable.
  • GST for fees, charges, or interest transactions billed on the statement date will be reflected in the subsequent month's statement.
  • GST levied will not be reversed in case of any disputes on fees, charges, or interest.

Rewards

• CashBack Benefits:
  • 0.5% CashBack on retail spends above ₹10,000.
  • 1% CashBack on international spends of ₹10,000 or more in a statement cycle. The CashBack amount will reflect in the subsequent statement.
  • 1% CashBack on retail spends of over ₹50,000.
• Lounge Access:
  • Access to airport lounges at various airports in India.
  • Free airport lounge access to over 1,000 lounges in India for both primary cardholders and add-on card members.
• Fuel Surcharge Waiver: Waived off on fuel transactions ranging from ₹400 to ₹5,000, with a maximum waiver of ₹500 per statement cycle.
• Zero Lost Card Liability: If the card is lost, report it immediately to the 24-hour call centre. After reporting the loss, you carry zero liability on any fraudulent transactions on your card.
• SmartPay Benefits: Give standing instructions on your Business Platinum Credit Card and enjoy credit-free period and CashBack features.

Rewards Redemption Guide

• Start your journey with a minimum of 500 points to redeem exciting rewards.

Card Review

The HDFC Bank Business Platinum Credit Card was a premium offering tailored for business spending, providing significant benefits such as extensive airport lounge access, a valuable fuel surcharge waiver, and attractive cashback rates on international and high-value retail transactions. Its EMV Chip technology ensured enhanced security, and the zero lost card liability offered peace of mind. However, the card's primary drawback is its discontinuation; new applications are no longer accepted, and existing cardholders will be migrated to the Business MoneyBack Chip Credit Card upon renewal. This makes it a card primarily for existing users who continue to enjoy its benefits until their upgrade. The annual fee of ₹299 plus taxes and a cash advance fee are standard for such cards.

Important Product Details

• Card Status: Sourcing of this credit card has been stopped. Existing customers will continue to enjoy benefits but will be automatically upgraded to the Business MoneyBack Chip Credit Card on renewal/reissuance.
• Premium Offering: Positioned as a premium credit card.
• Airport Lounge Access: Offers free access to over 1,000 airport lounges in India for both primary and add-on cardholders.
• Fuel Surcharge Waiver: 1% waiver on fuel transactions between ₹400 and ₹5,000, capped at ₹500 per statement cycle.
• CashBack on Spends:
  • 0.5% CashBack on retail spends above ₹10,000.
  • 1% CashBack on international spends of ₹10,000 or more per statement cycle.
  • 1% CashBack on retail spends of over ₹50,000.
• Zero Lost Card Liability: Provides zero liability on fraudulent transactions after immediate reporting of a lost card.
• EMV Chip Card: Embedded with encrypted microchips for enhanced safety against fraud, counterfeiting, and skimming, ideal for international travel and shopping.
• Card Management & Controls: Extensive options available through Netbanking, Mobile Banking App, MyCards portal, PayZapp app, WhatsApp Banking, and IVR (toll-free numbers).
• Utility Bill Payments: Multiple convenient options including SmartPay, Register and Pay, PayNow, and Visa Bill Pay.
• Annual Fee: ₹299 plus applicable taxes.
• Cash Advance Fee: 2.5% of the amount or ₹500, whichever is higher.
• GST: 18% applicable on fees, charges, and interest, not reversible on disputes.

Other Details

• Credit Limit: Based on your revenue, credit history, and other factors assessed by HDFC Bank.
• Card Management & Controls:
  • Netbanking: Log in, go to Cards Tab > Select card > Manage card > Manage Domestic and International Limits. Enable/disable Online, Contactless, International usage, update with OTP.
  • Mobile Banking: Log in to HDFC Bank MobileBanking App, go to ‘Cards’ section, select card, click ‘Manage Limits’, enable/disable transaction types or set limits, confirm with MPIN.
  • MyCards Portal: Visit mycards.hdfc.bank.in, log in with registered mobile number and OTP (first-time users enter last four digits of card). On card homepage, click ‘Card Control’ tab, enable/disable features or set limits, confirm settings.
  • PayZapp: Open PayZapp app, tap ‘MyCards’ tab > ‘Go to MyCards’, log in with registered mobile number and OTP (first-time users enter last four digits of card). On card homepage, tap ‘Card Control’ tab, enable/disable features or set limits, confirm settings.
  • WhatsApp Banking: Add HDFC Bank’s official WhatsApp number (7070022222), send "Credit Card", choose "Manage My Card", then "Domestic / International/ Enhance limits", select option, enter limit, confirm with OTP and last 4 digits of card.
  • IVR: Contact toll-free numbers 1800 1600 or 1800 2600 (8 am to 8 pm) or 022-61606160 for overseas travel assistance. Enable/modify limits for Domestic, International, Online, Contactless, ATM, and POS transactions.
• Lost Card Reporting: Report immediately to the 24-hour call centre.
• Most Important Terms and Conditions: A detailed document outlining specific terms and conditions for the card is available and should be reviewed thoroughly.