HDFC Bank CSC Small Business Moneyback Credit Card – Benefits, Fees & Eligibility

Introduction

The CSC Small Business MoneyBack Credit Card, issued by HDFC Bank, is designed for small business owners. While the sourcing of this card has been discontinued, existing customers continue to enjoy its benefits. Key differentiating benefits include 5% cashback on business essential spends, accelerated reward points on online purchases, and a 1% fuel surcharge waiver.

Welcome Benefits

• Complimentary Zomato Gold Membership on spends worth ₹75,000 within the first 3 months of getting your new Business credit card.
• The Zomato Gold membership provides a complimentary dish on every visit at a Gold food partner restaurant or 2 complimentary drinks at select Zomato partner restaurants.
• This benefit is valid for new customers from September 1, 2019, onwards.

Fees

• Joining Fee: ₹250 plus applicable taxes. (Note: An FAQ also mentions ₹500 plus applicable taxes).
• Renewal Fee: ₹250 plus applicable taxes. (Note: An FAQ also mentions ₹500 plus applicable taxes).
• Renewal Fee Waiver: The renewal fee is waived if you spend ₹25,000 in the previous year.
• Rewards Redemption Fee: ₹99 plus taxes per redemption request.
• Foreign Currency Markup: 3.5% markup fee on the total value of transactions made in foreign currencies.
• Balance Transfer Fee: ₹250 or 1% of the amount transferred, whichever is higher, plus taxes.
• Card Reissue Charges: ₹100 for reissuing a lost or damaged card.
• Cash Advance Fee: 2.5% of the withdrawn amount or ₹500, whichever is higher.
• Fuel Surcharge Waiver: 1% fuel surcharge waived off on fuel transactions. This applies to transactions between ₹400 and ₹5,000, with a maximum cashback of ₹250 per statement cycle.
• Utility Transaction Fee: A 1% utility transaction fee is levied when the related transaction amount exceeds ₹75,000.
• Interest Rates: Revolving Credit is available at a nominal interest rate.

Rewards

• Reward Points Earning

  • 4 Reward Points for every ₹150 spent on online purchases.
  • 2 Reward Points for every ₹150 spent on all other expenses (except fuel).
  • 5X Reward Points on Fuel, capped at 1,000 points per calendar month.
  • Transaction amounts less than ₹150 will not accrue any Reward Points.
  • Reward points accrued for Insurance transactions have a maximum cap of 2,000 per transaction.
  • Additional Reward Points are credited in the subsequent statement cycle only for transactions classified under 'Air', 'Travel', 'Hotel', 'Restaurant', or 'Online' Merchant Category Codes (MCC) as defined by VISA/MasterCard.

• Milestone Benefits

  • Earn 1,000 Bonus Reward Points on annual spends of ₹90,000 or more in each anniversary year.

• Cashback Benefits

  • 5% CashBack on Business Essential Spends, including Telecom, Electricity, Government/Tax, Railway, Hotels & Dining, and Taxi.
  • Maximum CashBack of ₹250 per statement on minimum monthly spends of ₹10,000 for business essential spends.

• Dining Benefits

  • Enjoy up to 20% savings off on all your restaurant bill payments via Swiggy Dineout.
  • Indulge in amazing dining benefits with the Good Food Trail program.
  • Get a flat 10% extra off on dining bills at 35,000+ restaurants. This offer is inclusive of Restaurant and Swiggy Discount and is valid only on payments done via the Swiggy App.

• Other Benefits

  • Avail up to 50 days of interest-free credit period.
  • Secure your card from fraud with zero liability on transactions once it is reported lost.
  • Access an exclusive SmartBuy Business portal for all Business cardholders.

Rewards Redemption Guide

• Redemption Value

  • Reward Points are credited in the form of CashPoints.
  • 100 Reward Points are equivalent to up to ₹20 when redeemed against your statement balance.
  • The minimum redemption amount for statement balance is 2,500 Reward Points.
  • Reward Points can also be redeemed for exciting gifts and air miles from an exclusive rewards catalogue, at the applicable redemption rate.

• Redemption Rules & Limits

  • Payment of at least the Minimum Amount Due is required even if you are redeeming Reward Points against outstanding on your Card Account.
  • Reward points accrued will be reversed if a retail transaction is converted into SmartEMI.
  • Rent payment and Education related transactions will not earn reward points (effective January 1, 2023).
  • Reward points earned on Grocery transactions are capped to 1,000 per month.
  • Redemption of Travel Reward Points is capped at 50,000 points per month.
  • Unredeemed Reward Points will expire/lapse after 2 years of accumulation.
  • Reward points can be redeemed up to a maximum of five times per calendar month (effective February 1, 2026).

• How to Redeem

  • Through Net Banking: Log in to your account, then navigate to Cards -> Enquire -> Redeem Reward Points.
  • Through PhoneBanking: Contact the PhoneBanking number available on the reverse side of your credit card to redeem points through a call.

Card Eligibility Criteria

• For Self-Employed Applicants

  • Nationality: Indian.
  • Age: Minimum 21 years (an FAQ states 21 years, while another section states minimum 24 years), Maximum 65 years.
  • Annual Income Tax Return (ITR): Greater than ₹6 lakh per annum.

• Documents Required

  • Identity Proof: Passport, Aadhaar card, Voter ID, Driving licence, PAN card, Passport size photographs.
  • Address Proof: Utility bills (electricity, water, gas, or telephone), Rental agreement, Passport, Aadhaar card, Voter ID.
  • Income Proof: Salary slips (for salaried individuals), Income Tax Returns (ITR), Form 16, Bank statements.
  • Business/Self-Employment Proof: GST returns, merchant payment reports.

Card Review

The CSC Small Business MoneyBack Credit Card is specifically tailored for small business owners, offering a strong value proposition through accelerated rewards on online and business essential spends, coupled with a fuel surcharge waiver. While the card's sourcing has been discontinued, existing cardholders benefit from features like 5% cashback on utility bills, telecom, and tax payments, along with 4 reward points per ₹150 on online spends. The card also provides practical benefits such as EMI options, dining discounts, and zero liability protection. However, potential drawbacks include the card no longer being available for new applications and the presence of a