HDFC Bank Pine Labs Credit Card – Benefits, Fees & Eligibility

Introduction

The Pine Labs HDFC Bank Pro Credit Card, issued by HDFC Bank, is a versatile credit card designed to offer rewarding experiences with exclusive benefits, reward points, and cashback offers, catering to various spending needs. It stands out with high reward points on e-commerce and POS spends, significant cashback on business essentials, and a comprehensive personal accidental death cover. It is important to note that the sourcing of this credit card has been stopped, and new applications are currently not being accepted. However, existing customers will continue to enjoy the benefits and features of the card.

Welcome Benefits

• Enjoy 3% CashBack on all non-EMI spends until September 30th, 2022. This offer excludes wallet loads, fuel, and Pine Labs transactions, and is capped at ₹1,500 per month.
• Earn 1% CashBack, up to ₹500 a month, until September 30th, 2022. This cashback can be redeemed for vouchers using Pine Labs' outward payment platform.

Fees

Joining Fee

• Membership Fee: ₹499 plus applicable GST.
• The annual fee is levied after 90 days of issuance only if the customer has not activated the card as mentioned during the time of sign-up in the application form.
• First Year Fee Waiver: Waived upon spending ₹45,000 (Non-EMI Spends) within the first 90 days.

Renewal Fee

• Renewal Fee: ₹499 plus applicable GST.
• Renewal Fee Waiver: Waived upon spending ₹50,000 (Non-EMI Spends) in the 12 months period.

Other Charges

• Foreign Currency Markup: 1% Mark-Up applicable on all International DCC (Dynamic Currency Conversion) transactions.
• Fuel Surcharge: 1% fuel surcharge waiver on a minimum transaction of ₹400, with a maximum waiver of ₹250 per statement cycle.
• Rental Transactions Fee: 1% fee on rental transactions, applicable from the second rental transaction done every calendar month.
• Goods and Services Tax (GST): Applicable on all Fees, Charges, and Interest transactions. The applicable GST depends on the place of provision (POP) and place of supply (POS). GST for Fees & Charges / Interest transactions billed on the statement date will reflect in the next month's statement. GST levied will not be reversed on any dispute on Fees & Charges / interest.

Rewards

• Earn 4 Reward Points per ₹150 spent on e-commerce, excluding EMI, fuel, and wallet load transactions.
• Earn 2 Reward Points for every ₹150 spent on all POS (Point of Sale) spends, except EMI spends, fuel, and wallet load transactions.
• Get 5% CashBack on business essentials such as Utility, Telecom, IRCTC, Government, and tax payments, capped at ₹250 monthly.
• Milestone Benefit: Receive 2,500 Bonus Reward Points on yearly spends of ₹1.8 Lakh (Non-EMI Spends).
• Benefit of 1.25% flat interest on supplier payments made through Pine Labs’ outward payment platform.
• Accelerated rewards on dining and groceries.
• Rewards are offered on Pine Labs EMI transactions.
• Complimentary lounge access.
• Accrual of Reward Points on Grocery Spends is capped at 1000 points per month per customer.
• No Reward Points will be accrued on spends made on Rental and Education category payments.

Rewards Redemption Guide

• Redemption of Reward Points to CashBack and Travel is capped at 50,000 points per month per customer.
• Reward Point Value:
  • Smartbuy Travel: 0.2
  • Airmiles: 0.25
  • Product Catalogue: Up to 0.25
  • CashBack: 0.2
• Points + Pay: A maximum of 70% of the payment can be made using Reward Points, with the remaining 30% to be paid by other payment modes (Cash/Cards/UPI etc.).
• CashBack earned from "Added Delights" can be redeemed for vouchers using Pine Labs' outward payment platform.

Important Product Details

• Insurance/Comprehensive Protection

  • Personal Accidental Death Cover of ₹30 Lakh.
  • Base Cover: ₹5 Lacs, requires at least 1 POS/E-COM transaction in the last 30 days.
  • Accelerated Cover I: ₹10 Lacs, requires at least 1 POS/E-COM transaction in the last 30 days plus spends greater than ₹25,000.
  • Accelerated Cover II: ₹15 Lacs, requires at least 1 POS/E-COM transaction in the last 30 days plus spends greater than ₹50,000.

• Credit Facilities

  • Avail up to 50 days of interest-free credit on your card.
  • Enjoy No Cost & Low cost EMI options on your Credit Card through Exclusive EASYEMI Offers.
  • Option to convert big spends into EMI after purchase.

• Usage

  • The card is widely accepted at millions of merchant establishments in India and abroad, both online and offline.
  • Supports contactless payments by tapping the card on the terminal.

Card Review

The Pine Labs HDFC Bank Pro Credit Card is positioned as a versatile card offering significant rewards, particularly for e-commerce, POS, and business essential spending. Its comprehensive accidental death cover and flexible EMI options add to its value.

• Pros:
  • High reward rates on specific spending categories (e-commerce, business essentials).
  • Valuable milestone benefits and launch offers (though time-bound).
  • Substantial personal accidental death cover.
  • Flexible EMI conversion options and interest-free credit period.
  • Spend-based waivers for both joining and renewal fees.
• Cons:
  • The card is no longer available for new applications, limiting its accessibility to existing customers only.
  • Some cashback and bonus offers are time-sensitive (e.g., till September 2022).
  • Reward point accrual is capped on grocery spends and there are no rewards for rental and education category payments.
  • Redemption of reward points for cashback and travel is capped monthly.
• Who should apply: This card is currently only for existing customers. It is particularly beneficial for individuals or businesses with high spending in e-commerce, point-of-sale transactions, and business utility payments, who can also meet the annual spend thresholds for fee waivers and accelerated insurance covers.

Other Details

• Sourcing of the Pine Labs HDFC Bank Pro Credit Card has been stopped, and new applications are currently not being accepted. Existing customers will continue to enjoy the benefits.
• Card management and controls, including enabling/disabling online, contactless, and international usage, and setting transaction limits, are conveniently available through Netbanking, Mobile Banking App, MyCards portal, PayZapp, WhatsApp Banking, and IVR.
• Most Important Terms and Conditions (MITC) are available for a thorough understanding of the specific terms and conditions governing the card's use.