HDFC Bank Corporate Premium Credit Card – Benefits, Fees & Eligibility

HDFC Bank Corporate Premium Credit Card

Introduction

The HDFC Bank Corporate Premium Credit Card is designed as a premium offering for corporates, particularly beneficial for those with significant travel expenses. It provides a robust rewards program, featuring 5 Reward Points for every ₹150 spent, with a maximum accrual of 10,000 points per statement cycle. A key advantage of this card is the absence of both joining and renewal fees, making its comprehensive travel benefits highly accessible. Cardholders can also benefit from an advanced reconciliation process, enhanced reporting tools for better visibility of expenses, and potential for greater savings through an interest-free credit period of up to 50 days. Additionally, the card includes a 1% fuel surcharge waiver on applicable transactions.

Welcome Benefits

• N/A (No specific welcome benefits are listed for this card).

Fees

• Joining Fee: Nil
• Renewal Fee: Nil
• Rewards Redemption Fee: ₹99 (plus applicable taxes)
• Foreign Currency Markup: 2.5% (plus applicable taxes) on all foreign currency spends. These charges will be billed on your subsequent statement within 60 days of the transaction date, with the currency conversion rate applicable as on the date of settlement.
• Interest Rates: 2.95% per month (35.4% annually) on the due amount if not cleared by the payment due date.
• Fuel Surcharge: 1% fuel surcharge waiver on fuel transactions between ₹400 to ₹10,000.
• Cash Advance Charges: 2.5% of the transacted amount or ₹500, whichever is higher.

Rewards

• Rewards Rate: Earn 5 Reward Points for every ₹150 spent.
• Reward Points Cap: Maximum of 10,000 Reward Points can be earned per statement cycle.
• Domestic Lounge Access: Enjoy 5 complimentary domestic airport lounge visits per quarter (up to 20 annually).
• International Lounge Access: Receive 6 complimentary international lounge visits annually via the Priority Pass Program.
• Travel Benefits:
  • Discounted fares on business travel via MMT MyBiz.
  • Free meal and seat selection on flights via MMT MyBiz.
  • Low fees for cancellation on travel bookings via MMT MyBiz.
• Insurance Benefits: The card offers comprehensive insurance covers for primary cardholders:
  • Air Accidental Death: Your nominated kin will receive a compensation of ₹1 Crore.
  • Emergency Medical Expenses: Protection worth up to ₹1 lakh against any medical emergency when travelling outside your home country.
  • Flight Delay: Cover of up to ₹15,000 available to the primary card holder.
  • Loss of Checked Baggage: Cover of up to ₹15,000 available to the primary card holder.
  • Missed Connecting International Flight: Cover of up to ₹15,000 available to the primary card holder.
• Corporate Liability Waiver Insurance: Protection against employee fraud with a card level cover of ₹2,00,000 and corporate level cover of ₹25,00,000.
• Lifestyle Benefits (SmartBuy BizDeals):
  • Avail up to 40% savings on business travel and software purchases on SmartBuy BizDeals.
  • Instant discounts on business software such as Google Workspace, Tally Prime, AWS, Microsoft Azure & more via Nuclei.
• Fuel Surcharge Waiver: A 1% fuel surcharge waiver is applicable on fuel transactions ranging from ₹400 to ₹10,000. The maximum waiver is capped at ₹1,000 per statement cycle (GST Applicable).
• Interest Free Credit Period: Avail up to 50 days of interest-free period from the date of purchase (subject to the submission of the charge by the Merchant).
• Rewards Exclusion: Reward points will not be accrued on transactions made towards rent payment.

Rewards Redemption Guide

• Redemption Options: Reward Points can be redeemed for miles against leading International and Domestic airlines, hotels, and a diverse catalogue of options.
• Exclusive SmartBuy Corporate Portal: An exclusive earn and burn portal specifically for Corporate Credit cardholders.
  • You can choose to redeem your Reward Points instantly against:
    • Airline ticket booking
    • Hotel booking
    • Reward redemption catalogue
  • Redemption Value: 1 Reward Point = ₹0.30 when redeemed on offers.smartbuy.hdfcbank.com/corporate.
• Reward Points Validity: Reward points are valid for up to 2 years.
• Pre-requisites for Redemption:
  • Complete Frequent flyer registration before attempting Airmiles redemption in NetBanking.
  • Enable your Credit Card for International usage and upgrade your international daily limit effortlessly through NetBanking.

Card Eligibility Criteria

• Age: The applicant should be between 21 years and 65 years.
• Business Standing: The applicant should be running a business with a stable income.
• Credit Score: The applicant’s personal credit score or business credit score might also be considered.
• Company Turnover: A minimum company turnover of ₹10 crore is generally required.
• Bank Account: An HDFC Bank account (savings or company account) is mandatory to apply for this card.

Documents Required

• Identity Proof: Aadhar Card, Voter’s ID, PAN Card, Driving License, etc.
• Address Proof: Aadhar Card, Utility bills (not older than 3 months), Voter’s ID, any other valid address proof approved by the government, etc.
• Other Documents: A passport-sized photograph, the latest audited ITR, a business registration certificate, a job card issued by NREGA, etc., may also be required.

Card Review

The HDFC Bank Corporate Premium Credit Card is a pure premium travel card tailored for corporate needs, offering significant value for business-related travel and expenses. Its reward system, which grants 5 Reward Points for every ₹150 spent, encourages higher returns on corporate spending, with points redeemable for airline miles and hotel bookings, among other options. The complimentary domestic and international lounge access is a highly appreciated benefit for frequent business travelers. The absence of joining and renewal fees further enhances its appeal, making it a cost-effective choice for businesses. Additional features like advanced reconciliation tools, enhanced reporting, and corporate liability waiver insurance underscore its utility for modern corporate management. This card is well-suited for businesses looking to optimize their operational expenses while providing premium travel perks to their employees.

Important Product Details

• Earn 5 Reward Points for every ₹150 spent, with a maximum of 10,000 reward points per statement cycle.
• Access 5 complimentary domestic airport lounges quarterly and 6 international lounges annually via the Priority Pass program.
• Benefit from Corporate Liability Waiver Insurance, offering cover up to ₹2,00,000 at a card level and ₹25,00,000 at a corporate level.
• Enjoy comprehensive insurance protection up to ₹1 Crore, including Air Accidental death, Emergency Medical Expenses, Flight Delay, Loss of Checked Baggage, and Missed Connecting International Flight coverage.
• Utilize the exclusive SmartBuy Corporate Portal for offers and reward redemption, where 1 Reward Point equals ₹0.30.
• Leverage better visibility through enhanced reporting tools, advanced reconciliation processes, and greater savings opportunities.
• Avail up to 50 days of interest-free credit period.
• Get a 1% fuel surcharge waiver on transactions between ₹400 and ₹10,000, capped at ₹1,000 per statement cycle.
• Benefit from SmartBuy BizDeals, offering up to 40% savings on business travel and software purchases, including discounted fares, free meals, and instant discounts on productivity tools.
• The card is enabled for contactless payments, allowing fast and secure transactions.

Other Details

• Contactless Payment: The card is enabled for contactless payments. In India, contactless payments are allowed for a maximum of ₹5000 for a single transaction without a PIN. For amounts higher than or equal to ₹5000, the cardholder must enter the Credit Card PIN for security reasons.
• Lost Card Policy: In case of a lost card, it should be reported to the bank's customer helpline immediately. Once reported, you will not be responsible for any fraudulent purchases made through the card. However, the cardholder is responsible and liable for any transactions that occurred before reporting the loss to the bank.
• Foreign Currency Markup Discrepancy: While 2.5% (plus applicable taxes) is consistently mentioned for foreign currency markup, one FAQ entry mentioned 2.49%. The 2.5% figure is more prevalent.