HDFC Bank MoneyBack Plus Credit Card – Benefits, Fees & Eligibility

HDFC Bank MoneyBack Plus Credit Card

This credit card is presented as an enhanced version of the previously issued HDFC MoneyBack Credit Card, offering a superior reward rate while maintaining a similar joining and annual fee of ₹500. It allows cardholders to earn up to 10X (20) CashPoints for every ₹150 spent on designated partner brands. These CashPoints offer flexible redemption options, including statement balance adjustments, product catalog purchases, and flight/hotel bookings, or conversion to Airmiles. Beyond rewards, the card also provides opportunities to earn gift vouchers worth up to ₹2,000 annually by achieving specific spending milestones. Additionally, cardholders can benefit from dining discounts with Swiggy Dineout, fuel surcharge waivers, and an annual fee waiver based on spend.

Welcome Benefits

• Receive 500 CashPoints as a welcome gift upon payment of the membership fee.
• Get 500 CashPoints each year upon card renewal.

Fees

• Joining Fee: ₹500 + Applicable taxes (or GST).
• Annual Renewal Fee: ₹500 + Applicable taxes (or GST).
• Spend-Based Waiver: The renewal membership fee can be waived off by spending ₹50,000 or more in an annual year (before the Credit Card renewal date).
• Rewards Redemption Fee: ₹99 + GST.
• Foreign Currency Markup: 3.5%.
• Interest Rates: 3.75% Per Month (equivalent to 45% Annually) on revolving credit.
• Fuel Surcharge Waiver: 1% fuel surcharge waiver on fuel transactions.
  • Minimum transaction amount: ₹400.
  • Maximum transaction amount: ₹5,000.
  • Maximum waiver: ₹250 per statement cycle/month.
• Cash Advance Charges: 2.5% of the withdrawn amount, subject to a minimum charge of ₹500.

Rewards

• Accelerated Rewards on Partner Brands: Earn 10X CashPoints (equivalent to 20 CashPoints for every ₹150 spent, providing a 3.3% Valueback) on transactions made with Amazon, Flipkart, Swiggy, Reliance Smart SuperStore, and BigBasket.
  • Bonus CashPoints under this category are capped at 2,500 points per month.
• Standard Rewards: Earn 2 CashPoints for every ₹150 spent on all other retail purchases.
  • SmartPay transactions are also considered under the 2 CashPoints category.
• UPI Spends (for RuPay Credit Cardholders):
  • Earn 2 Reward Points for every ₹150 spent on UPI transactions.
  • This benefit excludes fuel, wallet/prepaid card loads, or voucher purchases.
  • Capped at 500 reward points in a calendar month.
• Quarterly Spend-Based Gift Vouchers:
  • Get a gift voucher worth ₹500 on spends of ₹50,000 and above in a calendar quarter.
  • Earn up to ₹2,000 worth of gift vouchers in a year.
• Dining Benefits:
  • Enjoy amazing dining benefits with the Good Food Trail program.
  • Get 10% additional discount on Swiggy Dineout using coupon code HDFCCARDS.
  • Receive up to ₹200 off on dining at over 2,000 premium restaurants with Swiggy Dineout (Minimum Order Value ₹2,000).
• Exclusions for CashPoint Earning: CashPoints will not be provided for fuel spending, wallet loads, gift or prepaid card loads, rent payments, government transactions, Smart EMI conversions, voucher purchases, cash advances, payment of outstanding amounts, and payment of card fees.

Rewards Redemption Guide

• Value of CashPoints: 1 CashPoint = Up to ₹0.25 (for Product Catalogue and Cashback) or ₹0.25 (for Unified SmartBuy Flights/Hotels and Airmiles).
• Redemption against Statement Balance:
  • CashPoints can be redeemed against the statement balance at a rate of 1 CashPoint = Up to ₹0.25.
  • Redemption can be done via Net Banking login or a physical redemption form.
  • A minimum of CashPoints equivalent to ₹500 is required for redemption against the statement balance.
  • Reward points redemption for CashBack is capped at 50,000 reward points per calendar month, effective from 1st February 2023.
• Redemption for Travel Benefits:
  • CashPoints can be used for flight and hotel bookings on the SmartBuy Rewards Portal at a value of 1 CashPoint = Up to ₹0.25.
  • Credit Card members can redeem up to a maximum of 50% of the booking value through CashPoints, with the remaining amount to be paid via the Credit Card.
  • Reward points redemption for flights & hotels bookings are capped at 50,000 per calendar month, effective from 1st January 2023.
• Redemption against Product Catalogue/Vouchers:
  • CashPoints can be used for redemption against the Rewards Catalogue at the SmartBuy Rewards Portal, where 1 CashPoint = Up to ₹0.25.
  • Effective from 1st February 2023, cardmembers can redeem up to 70% of product/Voucher value through Reward points on select vouchers/products and pay the remaining amount via Credit card.
• Airmiles Redemption: 1 Cash Point = 0.25 AirMile for redemption against Airmiles.
• CashPoints Validity: CashPoints earned on your HDFC Bank MoneyBack+ Credit Card are valid for 2 years from the date of the transaction. For example, points received in August 2021 will expire in August 2023.

Card Eligibility Criteria

• For Salaried Individuals

  • Nationality: Indian.
  • Age: Minimum 21 years and Maximum 60 years.
  • Income: Net Monthly Income greater than ₹20,000.

• For Self-Employed Individuals

  • Nationality: Indian.
  • Age: Minimum 21 years and Maximum 65 years.
  • Income: Income Tax Returns (ITR) greater than ₹6.0 Lakhs per annum.
• Credit Score: Applicants should have a decent credit score.

Card Review

The HDFC Bank MoneyBack Plus Credit Card is a commendable choice for individuals seeking strong reward offers and flexible redemption options for their regular spending. As a basic yet popular HDFC Credit Card, it delivers an impressive reward rate of up to 3.33%, facilitating significant savings. Cardholders can also benefit from exciting quarterly gift vouchers worth ₹500 based on spending milestones, with the added advantage of an annual fee waiver. These fundamental yet valuable features make the card a compelling option. For those needing a credit card to efficiently manage everyday expenses and maximize cashback, the HDFC Bank MoneyBack Plus Credit Card stands out as a significant choice.

Important Product Details

• Offers 500 CashPoints as a welcome gift.
• Provides 10X CashPoints on popular brands like Amazon, Flipkart, Swiggy, BigBasket, and Reliance Smart SuperStore.
• Earn 2 CashPoints for every ₹150 spent on other retail purchases (excluding fuel, wallet reloads, prepaid card reloads, and voucher purchases).
• Entitles cardholders to a gift voucher worth ₹500 on spends of ₹50,000 in a calendar quarter, with a maximum annual benefit of ₹2,000 in gift vouchers.
• Includes up to ₹200 off on dining at over 2,000 premium restaurants via Swiggy Dineout.
• Features a waiver on the annual fee for an annual expenditure of a minimum of ₹50,000.
• Comes with a 1% waiver on fuel surcharge.
• CashPoints are redeemable for cashback, product purchases, flight/hotel bookings via SmartBuy, and partner airlines' Airmiles.

Other Details

• Zero Lost Card Liability: In case of card loss, report it immediately to the 24-hour call center (Toll-free numbers 1800 1600 / 1800 2600, or 022-61606160 for overseas customers) to ensure zero liability on fraudulent transactions.
• Interest-Free Credit Period: Avail up to 50 days of interest-free credit from the date of purchase (subject to the merchant's charge submission).
• Revolving Credit: Enjoy revolving credit at a nominal interest rate.
• Smart EMI: The card offers an option to convert big spends into EMIs after purchase.
• Contactless Payment: The card is enabled for contactless payments, offering fast, convenient, and secure transactions at retail outlets.
  • In India, contactless payments are allowed for a maximum of ₹5,000 per single transaction without a PIN.
  • For amounts greater than or equal to ₹5,000, the Credit Card PIN must be entered for security reasons.
• Credit Limit: The credit limit is not fixed and varies for different cardholders, influenced by factors like credit score, past payment history, and income. It can go up to approximately ₹1.5 lakhs for basic cards.
• Bill Payment Procedures:
  • Via HDFC Bank’s Bill Desk page.
  • Through HDFC Bank internet banking under 'Credit Card Payment'.
  • Via NEFT from a savings account in any bank.
  • Using digital payment services apps such as Paytm, CRED, PhonePe, and CheQ.
• Customer Care: For emergency assistance, contact the 24/7 helpline at 1800 266 4332. Queries can also be sent via email to customerservices.cards@hdfcbank.com.
• Card Account Closure Procedure (for non-usage): If a credit card remains unused for a continuous period of one year, the Bank will notify the cardholder to begin using the card within 30 days. If no response is received or the card is not used within this period, the card account will be closed by the Bank, provided all dues are paid.