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

Introduction

The Flipkart Wholesale HDFC Bank Credit Card is a co-branded credit card issued by HDFC Bank, primarily positioned for Flipkart Wholesale customers and businesses. It offers exclusive rewards on Flipkart Wholesale online spends, significant cashback on telecom, utility, government, and tax payments, and a 1% fuel surcharge waiver, making it a strong contender for business-related expenses.

Welcome Benefits

• ₹500 CashBack per transaction on the first 3 purchases within 90 days of on-boarding.
• Minimum transaction of ₹2,000 each is required for the activation cashback.
• Spends for activation cashback are limited to Flipkart Wholesale online platforms only.

Fees

• Joining Fee: NIL
• Renewal Fee: ₹499 plus applicable taxes
• Spend-Based Waiver: Renewal membership fee is waived off by spending ₹3,00,000 and above in the previous year, before the Credit Card renewal date.
• 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.
• Fuel Surcharge: 1% fuel surcharge waiver with a minimum transaction of ₹400 and a maximum waiver of ₹250 per statement cycle.
• Cash Advance Charges: Not explicitly mentioned in the provided content.
• Other Fees:
  • Education Transactions Fee: 1% fee applies to education transactions made through third-party apps, capped at ₹3,000 per transaction.
  • Fuel Transactions Fee: 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.
  • Rental Transactions Fee: 1% transaction fee on rental transactions conducted with applicable merchants for the month, with a maximum amount capped at ₹3,000 per transaction. This fee applies from the 2nd rental transaction done every calendar month.
  • DCC Transactions Markup: 1% Mark-Up charges to be applied on all Dynamic Currency Conversion (DCC) transactions.
  • Card Reissue Charges: ₹100 for reissuing a lost or damaged card.

Rewards

• 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.
• Fuel Surcharge Waiver: 1% fuel surcharge waiver at all fuel stations across India on transactions of ₹400 or more, with a maximum waiver of ₹250 per statement cycle.
• Lounge Access: Unlimited airport lounge access to 1000 plus lounges in India for both primary and add-on card members.
• SmartBuy Benefits: Exclusive SmartBuy Business portal for all Business cardholders.
• 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.
• Zero Liability: Enjoy zero liability on fraudulent transactions made on your Credit Card if reported immediately to HDFC Bank’s 24x7 call centre.
• Interest-Free Credit: Get up to 50 days of interest-free credit from the purchase date, subject to timely charge submission by the merchant.

Rewards Redemption Guide

• CashBack accrued per calendar month is auto redeemed in successive statements.
• Redemption Limits (effective 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.
• Cashback Validity: Unredeemed Reward Points will expire/lapse after 2 years of accumulation.
• Only categories based on Merchant IDs / Terminal IDs shared by Flipkart Wholesale Partner shall be applicable for relevant cashbacks, and this list will be updated periodically.

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 Score: While HDFC Bank doesn't specify a minimum credit score, it is important not to have a history of loan default for immediate approval.
• Reapplication: If an application is declined, you can reapply after six months.
• 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.

Card Review

The Flipkart Wholesale HDFC Bank Credit Card is ideal for Flipkart Wholesale customers and self-employed individuals with significant business expenses, particularly in wholesale purchases, utility payments, and government/tax transactions.

• Pros:
  • High cashback rates (5%) on specific high-spend categories like Flipkart Wholesale and essential utility/government payments.
  • Valuable 1% fuel surcharge waiver.
  • Unlimited airport lounge access enhances travel experience for business users.
  • Zero liability protection against fraudulent transactions provides security.
  • Up to 50 days of interest-free credit offers financial flexibility.
  • No joining fee and a reasonable renewal fee that can be waived with sufficient annual spend.
  • Features like SmartPay and Smart EMI add convenience for managing business finances.
• Cons:
  • Cashback benefits are capped monthly, which might limit overall savings for very high spenders in specific categories.
  • Certain transactions like rent, education, and high-value fuel transactions incur additional fees or do not earn reward points.
  • Foreign currency markup of 3.5% is relatively high for international transactions.
  • Eligibility criteria are specific to self-employed individuals with a minimum ITR of ₹6 lakh.

Overall, this card offers substantial value for its target audience, providing strong cashback and lifestyle benefits tailored for business needs, provided the spending aligns with the capped categories and users are aware of the transaction-specific fees.

Important Product Details

• Positive Highlights:
  • 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.
  • ₹500 CashBack per transaction on first 3 Flipkart Wholesale online purchases (min. txn of ₹2,000 each) within 90 days of on-boarding.
  • 1% fuel surcharge waiver on transactions of ₹400+, maximum waiver of ₹250 per statement cycle.
  • Unlimited airport lounge access to 1000+ lounges in India for primary and add-on card members.
  • Zero liability on fraudulent transactions if reported immediately.
  • Up to 50 days of interest-free credit.
  • Renewal fee waived off on spending ₹3,00,000 or more in the previous year.
  • Contactless payment enabled for transactions up to ₹5,000 without PIN.
  • Smart EMI option to convert big spends into EMIs.
  • SmartPay facility for automatic utility bill payments.
• Negative Highlights/Conditions:
  • Cashback benefits are subject to monthly caps.
  • Rent payment and Education related transactions will not earn reward points (effective 1st January 2023).
  • Reward points earned on Grocery transactions will be capped to 1,000 per month (effective 1st January 2023).
  • Redemption of Travel Reward Points will be capped at 50,000 points per month (effective 1st January 2023).
  • 1% fee applies to education transactions made through third-party apps, capped at ₹3,000 per transaction.
  • 1% fee applies to fuel transactions exceeding ₹30,000 on business cards, capped at ₹3,000 per transaction.
  • 1% transaction fee on rental transactions (from the 2nd transaction every calendar month), capped at ₹3,000 per transaction.
  • 1% Mark-Up charges apply to all DCC transactions.
  • Foreign currency markup fee is 3.5% of the transaction amount.
  • Unredeemed Reward Points expire/lapse after 2 years of accumulation.

Other Details

• Card Management & Controls: Card controls (managing domestic/international limits, enabling/disabling online, contactless, and international usage) can be managed through Netbanking, Mobile Banking App, MyCards portal (https://mycards.hdfc.bank.in/), PayZapp app, WhatsApp Banking (send "Credit Card" to 7070022222), and IVR (toll-free numbers: 1800 1600 or 1800 2600, for overseas travel assistance: 022-61606160).
• Contactless Payment: The card is enabled for Contactless Payments at retail outlets. In India, payment through contactless mode is allowed for a maximum of ₹5,000 for a single transaction without a PIN. For amounts higher than or equal to ₹5,000, the Card holder must enter the Credit Card PIN for security reasons.
• Revolving Credit: Available at a nominal interest rate.
• Credit Limit: The credit limit will be determined based on various factors such as income, credit history, and existing relationship with the bank.
• Application Process:
  • Online: Provide personal details, select the card, upload documents, and submit.
  • Existing HDFC Bank Account holders: Download application form, fill details, drop at local HDFC Bank branch.
  • Non-HDFC Bank Account holders: Download Account Opening form, fill it including the Credit Card application, submit to nearest HDFC Bank branch.
• General Terms and Conditions: Users must go through the Most Important Terms and Conditions (MITC) for a thorough understanding of the terms applicable to the banking product.
• Credit Card approvals are at the sole discretion of HDFC Bank Limited and are subject to documentation and verification as per the Bank's requirement. Interest rates are subject to change.