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

HDFC Bank UPI RuPay Credit Card

Introduction

The HDFC Bank UPI RuPay Credit Card is the first credit card introduced by HDFC Bank that allows cardholders to link it with their UPI ID for seamless transactions on popular UPI applications such as Paytm, Mobikwik, PhonePe, Google Pay, BHIM, Slice, and PayZapp. Designed to offer both convenience and easy credit, this card facilitates safe and secure UPI payments while providing traditional credit card benefits. Cardholders can earn up to 3% Cashpoints on both UPI and regular transactions across specific spend categories. A distinctive feature of this product is that it is issued as a virtual card, meaning no physical card will be delivered.

Fees

• Joining Fee: ₹99 + Applicable Taxes (GST)
• Renewal Fee: ₹99 + Applicable Taxes (GST)
• Spend-Based Waiver: The renewal membership fee is waived off if you spend ₹25,000 or more in an annual year, before your credit card renewal date (from the 2nd year onwards).
• Rewards Redemption Fee: ₹99 + GST
• Foreign Currency Markup: 3.5% of the transaction amount.
• Interest Rates: 3.6% per month or 43.2% per annum on revolving credit.
• Fuel Surcharge: Not applicable.
• Cash Advance Charges: 2.5% of the withdrawal amount or ₹500, whichever is higher.

Rewards

• Cashpoints Earning:
  • 3% Cashpoints on Groceries, SuperMarket, Dining spends, and PayZapp transactions, capped at a maximum of 500 Cashpoints in a calendar month.
    • Additional cashpoints for applicable PayZapp transactions will be credited as PayZapp CashPoints.
  • 2% Cashpoints on Utility spends, capped at a maximum of 500 Cashpoints in a calendar month.
  • 1% Cashpoints on other spends, capped at a maximum of 500 Cashpoints in a calendar month.
• Applicability: The above Cashpoint benefits are applicable for both UPI as well as regular credit card spends.
• Interest-Free Period: Avail up to 50 days of interest-free credit period on your HDFC Bank UPI RuPay Credit Card from the date of purchase (subject to the submission of the charge by the merchant).
• Exclusions on Reward Points: Cashpoints shall not be eligible for the following spends on the card:
  • Fuel Spends
  • Rent Payments and Government Related Transactions
  • Wallet loads / Gift or Prepaid Card loads / Voucher purchases
  • Cash Advances
  • Payment of Outstanding Balances
  • Payment of card fees and other charges
  • All types of EMI transactions
• Other Benefits: No specific benefits mentioned for Movies, Dining (beyond cashpoints), Travel, Domestic Lounge, International Lounge, Golf, or Insurance.

Rewards Redemption Guide

• Redemption Value: 1 CashPoint = ₹0.25 for all redemption categories.
• Redemption Options:
  • Statement Balance (CashBack):
    • CashPoints can be redeemed against the statement balance 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).
  • Travel Benefits (Flight & Hotel Bookings):
    • CashPoints can be used for redemption against travel benefits on the SmartBuy Rewards Portal.
    • You 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 & hotel bookings is capped at 50,000 points per calendar month (effective from 1st January 2023).
  • Rewards Catalogue (Products/Vouchers):
    • CashPoints can be redeemed 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, paying the remaining amount via the credit card (effective from 1st February 2023).
• CashPoints Validity: CashPoints earned on your HDFC Bank UPI RuPay Credit Card are valid only for 2 years from the date of the transaction (e.g., points received in August 2021 will expire in August 2023).

Card Review

The HDFC Bank UPI RuPay Credit Card is an excellent option for customers who frequently use UPI for their daily transactions. This card distinguishes itself by allowing direct linkage with UPI applications, thereby extending credit card benefits to UPI payments. With a low annual fee of ₹99 + GST, it rewards cardholders with Cashpoints on both regular and UPI spends. Key earning categories include 3% Cashpoints on groceries, dining, and supermarket spends, and 2% on utility bills, all subject to monthly caps. An attractive feature is the waiver of the annual renewal fee upon spending ₹25,000 or more in the preceding year. Cashpoints can be redeemed at a value of ₹0.25 per point against statement balance, travel bookings, or products/vouchers through the SmartBuy portal, with specific monthly redemption caps. While the card offers great convenience and rewards for UPI users, it lacks a wide array of benefits beyond cashback, and several spend categories are excluded from earning rewards.

Pros

• Earn CashPoints on both regular credit card payments and UPI transactions.
• Offers up to 3% Cashpoints on grocery, supermarket, dining, and PayZapp spends.
• Issued as a virtual card, providing convenience by eliminating the need for a physical card.
• Low annual fee with a spend-based waiver option.

Cons

• Benefits are primarily focused on UPI payments and cashback, with limited other perks.
• Several spend categories are explicitly excluded from earning Cashpoints.

Important Product Details

• The HDFC Bank UPI RuPay Credit Card is issued only virtually; no physical card will be delivered.
• It is the first credit card that can be linked with your UPI ID to make transactions on various UPI applications (e.g., PayZapp, GPay, PhonePe, Mobikwik, PayTM, BHIM, Slice).
• 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 RuPay UPI Credit Card in UPI Apps:
  • Download & Register / Open your preferred UPI app.
  • Register the HDFC Bank UPI RuPay Credit Card by using your credit card PIN.
  • Make UPI Payments using credit cards and enjoy associated benefits.
• Earn 3% Cashpoints on Groceries, SuperMarket, Dining spends & PayZapp transactions (maximum 500 points per calendar month).
• Earn 2% Cashpoints on Utility spends (maximum 500 points per calendar month).
• Earn 1% Cashpoints on other spends (maximum 500 points per calendar month), excluding Rent, Wallet loads, EMI, Fuel, Insurance Payments & Government categories.
• All reward benefits are applicable for both UPI and regular credit card spends.
• Offers an interest-free credit period of up to 50 days from the date of purchase.
• Revolving credit facility is available at a nominal interest rate.
• The renewal membership fee can be waived off by spending ₹25,000 and above in an annual year.
• CashPoints can be redeemed against statement balance, travel (flights & hotels), and the SmartBuy Rewards Portal catalogue at a value of 1 CashPoint = ₹0.25.
• Redemption for flights & hotel bookings and CashBack is capped at 50,000 reward points per calendar month.
• Cardholders can redeem up to 70% of product/voucher value through reward points on select items.

Other Details

• The card is best suited for shopping.
• The primary reward type offered is CashPoints (Reward Points).
• Your virtual card will automatically be registered in your HDFC Bank MyCards section, allowing you to check details and use it conveniently.
• You can only make merchant-to-merchant transactions using the HDFC Bank UPI RuPay Credit Card.