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

Introduction

The HDFC Bank Business Platinum Credit Card is positioned as a premium offering designed to enhance business spending with a broad range of benefits and rewards. While the sourcing of this credit card has been stopped, existing customers will continue to enjoy its benefits, which include attractive cashback on retail and international spends, exclusive airport lounge access, and a valuable fuel surcharge waiver.

Welcome Benefits

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

Fees

• Annual Fee: ₹299 plus applicable taxes.
• Cash Advance Fee: 2.5% of the amount or ₹500, whichever is higher.
• Fuel Surcharge Waiver: 1% fuel surcharge waiver on fuel transactions between ₹400 to ₹5,000, with a maximum waiver of ₹500 per statement cycle.
• Goods and Services Tax (GST):
  • Effective July 1, 2017, GST at 18% replaced 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 reflect in the next month's statement.
  • GST levied on fees, charges, or interest will not be reversed in case of any disputes.

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.
  • 1% CashBack on retail spends of over ₹50,000.
  • CashBack amount for international spends reflects in the subsequent statement.
• Travel Benefits:
  • Exclusive lounge access 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: 1% fuel surcharge waiver on fuel transactions between ₹400 to ₹5,000, with a maximum waiver of ₹500 per statement cycle.
• Reward Points:
  • Effortlessly view and redeem reward points.
  • Minimum of 500 points required to redeem exciting rewards.
• Insurance/Security:
  • Zero Lost Card Liability: Report loss immediately to the 24-hour call centre to carry zero liability on fraudulent transactions.
  • EMV Chip Cards: Embedded with encrypted microchips for enhanced safety against fraud, counterfeiting, and skimming, ideal for international travel and shopping.

Rewards Redemption Guide

• Effortlessly view and redeem reward points with just a click.
• A minimum of 500 points is required to redeem exciting rewards.

Card Review

• The Business Platinum Credit Card is positioned as a premium offering, providing a broad range of benefits and rewards tailored for business spending.
• Pros: Offers significant cashback on retail and international spends, extensive airport lounge access, and robust security features like EMV chip technology and zero lost card liability.
• Cons: The card's sourcing has been stopped, and existing cards will be automatically upgraded to the Business MoneyBack Chip Credit Card upon renewal or reissuance, indicating its eventual discontinuation.
• Who should apply: This card was ideal for business owners seeking premium benefits, travel perks, and security for their business expenses. For existing cardholders, it continues to offer value until its eventual upgrade.

Important Product Details

• Card Discontinuation: Sourcing of this credit card has been stopped. Existing customers will continue to enjoy the benefits.
• Automatic Upgrade: On renewal or reissuance, the card will be automatically upgraded to the HDFC Bank Business MoneyBack Chip Credit Card.
• Premium Positioning: A premium credit card designed to enhance business spending.
• Key Benefits: Includes reward points, fuel surcharge waiver, lounge access, and secure payment features.
• Cashback: Up to 1% on international and high retail spends.
• Lounge Access: Free access to over 1,000 airport lounges in India for primary and add-on cardholders.
• Security: Features EMV Chip technology and Zero Lost Card Liability.
• Fees: Annual fee of ₹299 plus taxes and a cash advance fee.

Other Details

• Card Management & Controls:
  • Single Interface: One unified platform for managing Credit Cards, Debit Cards, FASTag, and Business Loans.
  • Spend Tracking: Easy-to-use interface to monitor and manage all business expenses seamlessly.
  • Reward Points: Effortlessly view and redeem reward points with just a click.
• Utility Bill Payments:
  • SmartPay: Give standing instructions on your Business Platinum Credit Card to enjoy credit-free periods and cashback features.
  • Register and Pay: Pay electricity, telephone, mobile, and insurance premiums online anytime, anywhere.
  • PayNow: An instant online payment solution for making bill payments on the HDFC Bank website.
  • Visa Bill Pay: Secure online bill payment solution for existing Business Platinum Credit Cardholders.
• Card Control via MyCards: A mobile-based service platform for all credit card needs, facilitating convenient activation and management, offering:
  • Credit Card Registration and Activation.
  • Set up Card PIN.
  • Manage Card Controls like Online Spends, Contactless Transactions, etc.
  • View Transactions / Download e-Statements.
  • Check Reward Points.
  • Block/Re-Issue Card.
  • Apply for an Add-on Card, Manage, Set PIN, and Card Controls for Add-on cards.
• Credit Limit: The credit limit is based on your revenue, credit history, and other factors assessed by HDFC Bank.
• Most Important Terms and Conditions: Specific terms and conditions govern the use of banking offerings, which users must review thoroughly to fully understand the applicable terms.