HDFC Bank UPI RuPay Biz Credit Card – Benefits, Fees & Eligibility

Introduction

The HDFC Bank UPI RuPay Biz Credit Card is designed to simplify business expenses and offers a seamless credit journey, integrating credit card benefits with UPI payments. This virtual credit card provides enhanced security by eliminating the need for a physical card, reducing risks of theft or loss. Cardholders can earn significant Cashpoints on various spending categories, including groceries, supermarkets, dining, and utility bills, alongside a generous interest-free period of up to 50 days. It also features a spend-based waiver for its renewal fee, making it a compelling option for businesses seeking efficient and rewarding payment solutions.

Fees

• Joining Fee:
  • ₹99 + Applicable Taxes (as per Festive Season Offer from HDFC Bank)
  • ₹250 + Applicable Taxes
• Renewal Fee:
  • ₹99 + Applicable Taxes (as per Festive Season Offer from HDFC Bank)
  • ₹250 + Applicable Taxes
• Spend-Based Waiver:
  • Renewal membership fee waived off by spending ₹25,000 and above in an annual year, before your Credit Card renewal date.
• Rewards Redemption Fee: Nil
• Foreign Currency Markup: 3.5% on the transacted amount
• Interest Rates:
  • 3.60% monthly
  • 43.20% annually
• Fuel Surcharge: 1% fuel surcharge waiver on all fuel transactions.
• Cash Advance Charges: 2.5% or ₹500, whichever is higher.
• Added-on Card Fee: No added-on card fee.

Rewards

• 3% Cashpoints: On Groceries, SuperMarket, and Dining spends, and PayZapp transactions.
  • Maximum of 500 Cashpoints can be earned in a calendar month for this category.
  • Additional Cashpoints for applicable PayZapp transactions will be credited as PayZapp CashPoints.
• 2% Cashpoints: On Utility spends.
  • Maximum of 500 Cashpoints can be earned in a calendar month for this category.
• 1% Cashpoints: On other spends.
  • Maximum of 500 Cashpoints can be earned in a calendar month for this category.
• Excluded Categories for Rewards: Rent, Wallet loads, EMI, Fuel, Education categories, Gift, Prepaid cards, vouchers.
• Interest-Free Credit Period: Avail up to 50 days of interest-free period from the date of purchase (subject to the submission of the charge by the Merchant).
• Revolving Credit: Enjoy Revolving Credit at a nominal interest rate.
• Fuel Surcharge Waiver: 1% fuel surcharge waiver on all fuel transactions.
• Movies & Dining: Earn 3% Cashpoints on dining expenses.
• Travel: Cashpoints can be redeemed against flight and hotel bookings.
• Domestic Lounge Access: Not applicable (NA).
• International Lounge Access: Not applicable (NA).
• Golf: Not applicable (NA).
• Insurance Benefits: Not applicable (NA).

Rewards Redemption Guide

• CashPoint Value: 1 CashPoint = ₹0.25 across various redemption options.
• Redemption against Statement Balance:
  • CashPoints can be redeemed against the statement balance.
  • Redemption can be done via Net Banking login or a physical redemption form.
  • Cardholder must have a minimum of CashPoints equivalent to ₹500 for statement balance redemption.
  • Reward points redemption for CashBack is capped per calendar month to 50,000 rewards points (effective from 1st February 2023).
• Redemption for Travel Benefits:
  • CashPoints can be used for redemption against travel benefits like Flight & Hotel bookings on the SmartBuy Rewards Portal.
  • Members can redeem up to a maximum of 50% of the booking value through CashPoints, with the rest payable via the Credit Card.
  • Reward points redemption for flights & hotels bookings are capped per calendar month at 50,000 (effective from 1st January 2023).
• Redemption on Rewards Catalogue:
  • CashPoints can also be used for redemption on the Rewards Catalogue at the SmartBuy Rewards Portal.
  • Cardmembers can redeem up to 70% of the product/voucher value through Reward points on select vouchers/products and pay the remaining amount via Credit card (effective from 1st February 2023).
• CashPoints Validity: CashPoints earned are valid for 2 years from the date of transaction. For example, if points are received in August 2021, they will expire in August 2023.

Card Eligibility Criteria

Documents Required

• Identity Proof: Aadhaar Card, Voters ID Card, Pan Card, etc.
• Address Proof: Aadhaar Card, Last Month's Electricity Bill, Water Bill, Passport, etc.
• Income Proof: Salary Slips, ITRs.
• Additional Documents: Driving license, Business Registration Certificate, etc.

Card Review

The HDFC Bank UPI RuPay Biz Credit Card stands out as a reliable business credit card, particularly for those looking to integrate credit benefits with UPI payments. Its core strength lies in its rewarding Cashpoint program, offering up to 3% on key spending categories like groceries, supermarkets, and dining, along with 2% on utilities. The maximum earning cap of 500 Cashpoints per category per month ensures a consistent reward structure.

Pros:

• Rewarding Structure: Offers good Cashpoints on common business and personal expenses.
• UPI Integration: Allows seamless UPI payments with credit card benefits, leveraging the convenience of digital transactions.
• Security: As a virtual credit card, it inherently offers enhanced security against physical theft or loss.
• Financial Flexibility: Provides up to 50 days of interest-free credit and the option for revolving credit at a nominal interest rate.
• Fee Waiver: The renewal fee waiver on an annual spend of ₹25,000 is easily achievable for many businesses.
• Redemption Versatility: Cashpoints can be redeemed for statement balance, travel, or a product catalogue.
• Fuel Benefit: A 1% fuel surcharge waiver adds to the savings.

Cons:

• Reward Caps: The 500 Cashpoints per category per month might be restrictive for very high spenders in specific categories.
• Reward Exclusions: Several common business expenses like rent, wallet loads, and education are excluded from earning Cashpoints.
• Conflicting Fees: There are differing joining/renewal fees mentioned across sources (₹99 vs. ₹250), which could cause confusion.

Overall Verdict: This card is highly recommended for small to medium businesses and individuals who frequently use UPI for payments and spend significantly on groceries, dining, and utilities. Its integration with UPI, combined with a solid reward program and crucial benefits like an interest-free period and fuel surcharge waiver, makes it a valuable tool for managing daily expenses and optimizing savings.

Important Product Details

• This credit card is a virtual credit card; users will not receive any physical card, enhancing security against theft or loss.
• The benefits outlined are applicable for both UPI and regular credit card spends.
• Credit Card PIN setup is a pre-requisite for UPI registration.
• You can easily set your Credit Card PIN by calling 1860 266 0333.
• Steps to Link HDFC Bank UPI Biz Credit Card in UPI Apps:
  • Download & Register / Open your UPI app (BHIM/ Mobikwik/ PayTM/ PhonePe etc.).
  • Register HDFC Bank UPI Biz Credit Card by using credit card PIN.
  • Make UPI Payments using credit cards & Enjoy credit card benefits.
• The annual fee will be waived at a minimum spend of Rs. 25,000 in the last annual year.
• The maximum of 500 points can be earned in a calendar month for each specific reward category (3% category, 2% category, 1% category).
• Certain categories are exempted from rewards: Fuel, rent payments, EMI Spends, Education-related transactions, wallet, Gift, Prepaid cards, and vouchers.

Other Details

• Detailed Terms & Conditions and FAQs are available on the HDFC Bank website.