HDFC Bank Flipkart Wholesale Credit Card – Benefits, Fees & Eligibility

Introduction

The Flipkart Wholesale HDFC Bank Credit Card is a co-branded offering from HDFC Bank, positioned for business owners and Flipkart Wholesale customers. It provides exclusive rewards, primarily focusing on high cashback rates for Flipkart Wholesale online spends, as well as utility, government, and tax payments. A key differentiating benefit is the unlimited airport lounge access, making it suitable for business travelers, alongside a generous fuel surcharge waiver and zero liability protection.

Welcome Benefits

• Receive ₹500 CashBack per transaction on the first 3 purchases within 90 days of card onboarding.
• Minimum transaction value of ₹2,000 each is required.
• Spends are limited to Flipkart Wholesale online platforms only for this benefit.

Fees

• Joining Fee: NIL
• Renewal Fee: ₹499 plus applicable taxes.
• Spend-Based Waiver: The renewal membership fee is waived off by spending ₹3,00,000 and above in the previous year.
• Foreign Currency Markup: 3.5% of the transaction amount for all international or cross-currency transactions.
• Interest Rates: Revolving credit is available at a nominal interest rate. Up to 50 days of interest-free credit is provided from the purchase date, subject to timely charge submission by the merchant.
• Fuel Surcharge: A 1% fee will apply to fuel transactions exceeding ₹30,000 on business cards, calculated on the total transaction amount and capped at ₹3,000 per transaction.
• Education Transaction Fee: A 1% fee applies to education transactions made through third-party apps, capped at ₹3,000 per transaction.
• Rental Transaction Fee: A 1% transaction fee will be applied to rental transactions conducted with applicable merchants for the month, from the second rental transaction every calendar month, capped at ₹3,000 per transaction.
• Lost or Damaged Card Reissue Fee: ₹100.

Rewards

• Flipkart Wholesale Spends: 5% CashBack on Flipkart Wholesale Online Spends, capped at ₹2,000 per month.
• Telecom, Utility, Govt & Tax Payments: 5% CashBack on these payments, up to ₹250 per month.
• Other Spends: 1% CashBack on all other spends, capped at ₹25,000 per month.
• Fuel Surcharge Waiver: 1% fuel surcharge waiver at all fuel stations across India with a minimum transaction of ₹400. The maximum waiver is ₹250 per statement cycle.
• Domestic Lounge Access: Unlimited airport lounge access to 1000+ lounges in India for both primary and add-on card members.
• SmartBuy Benefits: Exclusive SmartBuy Business portal for all Business cardholders.
• Zero Liability: Enjoy zero liability on fraudulent transactions made on your card upon immediately reporting card loss to the 24x7 call centre.
• Interest-Free Credit: Get up to 50 days of interest-free credit from the purchase date.
• SmartPay: An automatic payment facility available on your Credit Card to pay utility bills.
• Smart EMI: Option to convert big spends into EMI after purchase.

Rewards Redemption Guide

• CashBack accrued per calendar month is auto-redeemed in successive statements.
• With effect from 1st January 2023:
  • Rent payment and Education related transactions will not earn reward points.
  • Reward points earned on Grocery transactions will be capped to 1,000 per month.
  • Redemption of Travel Reward Points will be capped at 50,000 points per month.
• Unredeemed Reward Points will expire/lapse after 2 years of accumulation.

Card Eligibility Criteria

For Self-Employed Applicants

• Nationality: Indian national
• Age: Minimum: 21 years, Maximum: 65 years
• Income: Annual Income Tax Return (ITR) greater than ₹6 lakh.
• Credit History: It is important not to have a history of loan default for immediate approval, though no specific minimum credit score is specified.
• Re-application: If an application is declined, you can reapply after six months.

Documents Required To Apply

• 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.

Card Review

The Flipkart Wholesale HDFC Bank Credit Card is an excellent choice for self-employed individuals and businesses that frequently transact on Flipkart Wholesale or have significant utility, government, and tax payments. Its standout features include high cashback rates in these specific categories and the valuable benefit of unlimited airport lounge access, which is uncommon for a card with no joining fee.

Pros:

• No joining fee.
• High cashback (5%) on Flipkart Wholesale and essential utility/government payments.
• Unlimited airport lounge access for primary and add-on card members.
• Waiver of renewal fee on achieving a reasonable annual spend.
• 1% fuel surcharge waiver.
• Zero liability protection against fraudulent transactions.
• Up to 50 days of interest-free credit.
• Convenient card management through the MyCards platform.

Cons:

• Renewal fee of ₹499 (though waivable).
• Cashback benefits are capped monthly for specific categories.
• Fees apply to certain transactions like rental, education, and high-value fuel transactions.
• A 3.5% foreign currency markup fee.
• Reward points are not earned on rent and education transactions, and there are caps on grocery and travel reward point redemptions.
• Reward points have a validity period of 2 years.

Who Should Apply: This card is ideal for self-employed Indian nationals aged 21-65 with an annual ITR above ₹6 lakh, especially those who are regular customers of Flipkart Wholesale or incur substantial expenses on telecom, utility, government, and tax payments. It also offers significant value for individuals who travel frequently and can benefit from unlimited lounge access.

Important Product Details

• Cashback Benefits:
  • 5% CashBack on Flipkart Wholesale Online Spends (capped at ₹2,000 per month).
  • 5% CashBack on Telecom, Utility, Govt & Tax Payments (up to ₹250 per month).
  • 1% CashBack on all other spends (capped at ₹25,000 per month).
• Activation Benefit: ₹500 CashBack per transaction on first 3 purchases within 90 days on Flipkart Wholesale online platforms (min. txn ₹2,000 each).
• Fees: NIL Joining Fee, ₹499 + taxes Renewal Fee (waivable on ₹3,00,000 annual spend).
• Waivers: 1% fuel surcharge waiver (min. txn ₹400, max waiver ₹250/statement cycle).
• Lounge Access: Unlimited airport lounge access to 1000+ lounges in India for primary and add-on card members.
• Security: Zero liability on fraudulent transactions if reported immediately.
• Credit Period: Up to 50 days of interest-free credit.
• Card Management: Mobile-based MyCards platform for activation, PIN setup, managing controls, viewing transactions, checking reward points, and more.
• Transaction Fees: 1% fee on education transactions (via third-party apps, capped at ₹3,000), 1% fee on rental transactions (from 2nd txn/month, capped at ₹3,000), 1% fee on fuel transactions > ₹30,000 (capped at ₹3,000).
• Foreign Currency Markup: 3.5% on international/cross-currency transactions.
• Reward Point Restrictions: No reward points on rent and education transactions (w.e.f 1st Jan 2023). Grocery reward points capped at 1,000/month, Travel reward points redemption capped at 50,000/month (w.e.f 1st Jan 2023).
• Reward Point Expiry: Unredeemed reward points expire after 2 years.

Other Details

• Contactless Payment: The card is enabled for contactless payments up to ₹5,000 without a PIN. For transactions ₹5,000 or higher, the cardholder must enter the Credit Card PIN for security reasons.
• Smart EMI: The option to convert big spends into EMI after purchase is available.
• Revolving Credit: Available at a nominal interest rate.
• Application Process:
  • Online: Provide personal details, select the card, upload documents, and submit.
  • Existing HDFC Bank Account holders: Download the application form, fill in details, and drop it off at a local HDFC Bank branch.
  • Non-HDFC Bank Account holders: Download the Account Opening form, fill it including the credit card application, and submit it to the nearest HDFC Bank branch.
• Credit Limit: Determined based on various factors such as income, credit history, and existing relationship with the bank.
• Terms and Conditions: The Most Important Terms and Conditions for banking offerings feature specific terms and conditions that govern their use and should be thoroughly reviewed. Credit Card approvals are at the sole discretion of HDFC Bank Limited and are subject to documentation and verification. Interest rates are subject to change.