HDFC Giga Business Credit Card – Benefits, Fees & Eligibility

Introduction

The HDFC Giga Business Credit Card is designed for freelance professionals and independent contractors, offering valuable rewards on online business spending, tax payments, business travel bookings, and much more. With an affordable annual fee, this card provides accelerated Cash Points on essential business expenses like digital advertising, cloud hosting, software purchases, and bill payments. It serves as an ideal tool for individuals looking to establish and grow their presence in the industry.

Welcome Benefits

• Get OTT Play Premium (One month subscription with access to OTT Platforms like Zee5, SonyLiv, VRott, Lionsplay, etc.) on making your first transaction within the first 37 days of card issuance. This monthly subscription is valued at approximately ₹250.

Fees

• Joining Fee: ₹500 + Applicable Taxes / GST
• Renewal Fee: ₹500 + Applicable Taxes / GST
• Spend-Based Waiver: The renewal fee is waived for the next renewal year if you spend ₹50,000 in an anniversary year (12 billing cycles).
• Rewards Redemption Fee: ₹99 + GST
• Foreign Currency Markup: 3.5%
• Interest Rates: 3.75% Monthly (equivalent to 45% Annually)
• Fuel Surcharge: A 1% fuel surcharge waiver is applicable for transactions between ₹400 and ₹5,000. The maximum cashback for fuel surcharge waiver is capped at ₹250 per statement cycle.
• Cash Advance Charges: 2.5%

Rewards

• General Spends: Earn 2 Cash Points on every ₹150 spent for your business needs and other eligible expenses.
• Accelerated Spends (6 Cash Points per ₹150):
  • Business Digital Spends (including Advertising, Accounting, Software License Purchase, Cloud Hosting). Specific examples include Google Ads, Facebook/Meta Ads, Amazon Marketing Service, Tally, Google Workspace, GoDaddy, Google Clouds.
  • Bill Payments via Payzapp & SmartPay.
  • Income Tax payments via eportal.incometax.gov.in.
  • GST payments via payment.gst.gov.in.
  • Hotel & flight booking on MMT MyBiz powered by SmartBuy BizDeals.
  • Business Productivity tools like Tally, Office 365, AWS, Google, Credflow, Azure, and more via Nuclei by SmartBuy BizDeals.
  • Accelerated 3X Reward Points earnings are limited to 1,500 points per statement cycle.
  • All PayZapp transactions will be eligible for 3X CashPoints, except for spends on clubs, housing, rent, hospital, education, donation, mutual funds, loans, credit card payments, wallet load, Fastag, municipal tax, and municipal service.
• Maximum Reward Points: A maximum of 15,000 Cash Points can be earned in a monthly statement cycle.
• Exclusions: No Reward Points are earned for rent, education, wallet, EMI, and fuel transactions.
• Dining Benefits: Get up to 7.5% discount on your dining bills with Swiggy-Dineout by paying via the Swiggy App.
• Partner Brands Offers: Enjoy discounts on purchases through the GIG special merchant program, including:
  • WeWork: Get 33% off on the monthly subscription.
  • LegalWiz: Avail a 20% discount.
  • Harappa by Upgrad: Receive up to a 43% discount on all courses.
  • Truelancer: Get a 10% discount on the annual Pro account plan.
  • Zoho Books: Receive a 25% discount on your subscription.
  • 42 Courses: Avail a 20% discount on certified courses and learning subscriptions.
• Milestone Benefit:
  • Earn Bonus 800 Cash Points on monthly spends of ₹50,000 or more.
  • Fuel and rent spend transactions will not be considered towards achieving this monthly spending target.
  • Consistently achieving this milestone can lead to annual savings of up to ₹2,880 from these bonus points.
• SmartPay Benefits: Get assured cashback up to ₹1800 in the first year and exciting e-vouchers worth up to ₹800 for adding 2 or more bills on Smart Pay.
• SmartBuy Benefits: Get up to 10% Cash Back on travel and online shopping made via SmartBuy.

Rewards Redemption Guide

• Cash Points can be redeemed for various options.
• Cash Points Value:
  • Redeem as cashback against statement: Up to ₹0.25 per Cash Point (e.g., 1000 CP = ₹250).
  • Redeem on SmartBuy (against flights/hotel bookings): ₹0.25 per Cash Point (e.g., 1000 CP = ₹250).
  • Redeem against Product Catalogue via Netbanking & SmartBuy: Up to ₹0.25 per Cash Point (e.g., 1000 CP = Up to ₹250).
  • Redeem against Business Catalogue via Netbanking: Up to ₹0.30 per Cash Point (e.g., 1000 CP = Up to ₹300).
• Redemption Rules:
  • A minimum of 2,500 Cash Points is required to redeem against statement balance.
  • For flights and hotel bookings on SmartBuy, card members can redeem up to a maximum of 50% of the booking value through CashPoints. The remaining transaction amount must be paid via the Credit Card limit.
  • Effective from 1st February 2023, card members can redeem up to 70% of product/voucher value through CashPoints on select vouchers/products, with the remaining amount paid via Credit Card.
  • Unredeemed Cash Points will expire/lapse after 2 years of accumulation from the date of accumulation.

Card Eligibility Criteria

• Eligibility Rules:
  • Applicant must be a Self-Employed Indian Citizen.
  • Age should be between 21 to 65 years.
  • Annual Income Tax Return (ITR) should be above ₹4 Lakhs.
• Documents Required:
  • 12 Months Bank Statement
  • Income Tax Return (ITR)
  • Merchant Payment Reports and GST Returns (Customers can apply credit card using ITR, GST returns, Bank Statements and Merchant payment report).

Card Review

The HDFC Giga Business Credit Card is an affordable option for freelancers and small business associates, featuring a low joining and annual fee of ₹500. It offers significant value through accelerated rewards, particularly on business-specific expenditures like digital advertising, software, tax payments, and bill payments, where cardholders can earn 6 Cash Points per ₹150 spent. While the welcome benefit of a one-month OTT Play Premium subscription could be more substantial, the card compensates with an easily achievable annual fee waiver upon spending ₹50,000. Furthermore, the monthly milestone benefit of 800 Cash Points on ₹50,000 spend (excluding fuel and rent) adds up to considerable annual savings of up to ₹2,880. Although it lacks airport lounge access, which is reasonable for its fee segment, it still provides accelerated points on travel bookings via MMT MyBiz and up to 10% cashback on SmartBuy. Overall, for self-employed individuals seeking a basic yet rewarding business credit card that aligns well with their operational expenses, the HDFC Giga Business Credit Card is a highly recommended choice.

Pros

• Low joining and annual fee of ₹500, making it highly affordable.
• Significant accelerated rewards on business-specific spends.
• Annual fee waiver is easily achievable with moderate spending.
• Milestone benefits provide additional opportunities for savings.
• Offers on various partner brands are highly useful for freelancers and small businesses.

Cons

• The welcome benefit could be more attractive, potentially by offering Reward Points equivalent to the joining fee.
• Does not offer airport lounge benefits.

Important Product Details

• The card is most suited for freelance professionals and small business associates.
• Comes with an affordable joining and annual fee of ₹500 + applicable taxes.
• Earn 6 Cash Points/₹150 spent on key business expenditures such as advertising, software purchases, tax payments, and bill payments.
• Provides a 1% fuel surcharge waiver on transactions between ₹400 and ₹5,000, with a maximum waiver of ₹250 per statement cycle.
• Offers a milestone benefit of 800 Bonus Cash Points on achieving a monthly spend of ₹50,000 or more.
• Enjoys an extended interest-free credit period of up to 55 days.
• Cash Points can be redeemed for cashback against statements or various product/business catalogs, with a maximum value of ₹0.30 per Cash Point.
• All PayZapp transactions (excluding specific categories like rent, education, etc.) are eligible for accelerated 3X CashPoints.

Other Details

• Extended Interest-Free Credit Period: Benefit from an interest-free credit period of up to 55 days. For example, a purchase made on the 5th of April, with a billing date of the 4th of the month, would have a credit period of 54 days, with the payment due on the 28th of May.
• Loan on Card: Avail EMI and Loan on card options for your business needs with flexible loan and repayment. Business loans and revolving credit can be availed against the credit card. You can convert all major credit card spends to easy EMIs at a low cost.
• EMI Benefits:

  • EasyEMI

    • The HDFC Bank GIGA Business Credit Card offers the option to make large purchases for your business on EMI during the purchase itself with EasyEMI.

  • SmartEMI

    • The HDFC Bank GIGA Business Credit Card also provides the option to convert your big spends into EMI after purchase with SmartEMI.
• Zero Lost Card Liability: In the unfortunate event of losing your HDFC Bank GIGA Business Credit Card, on reporting it immediately to Customer Care Toll Free Number: 1800 1600 / 1800 2600, you have zero liability on any fraudulent transactions made on your Credit Card.
• Credit Liability Cover: A credit liability cover of ₹3 Lakh is provided.
• PIN Setting Process: You can set the PIN for your card using any of the following options:
  • By Using MyCards: Visit HDFC Bank MyCards (https://mycards.hdfcbank.com/), enter your registered Mobile number and authenticate with OTP, select "GIGA Business Credit Card", then choose Set Pin and enter your 4 digit PIN.
  • By Using IVR: Call 1860 266 0333 from your registered mobile number, key in the last 4 digits of your Business Credit Card Number, validate with OTP sent to your registered mobile number, and then set your 4 digit PIN.
  • By Using Mobile Banking: Login to Mobile Banking, go to "Cards" Section and select "GIGA Business Credit Card", choose Change Pin and enter your 4 digit PIN & confirm, then authenticate using OTP to successfully generate your PIN.
  • By Using Net Banking: Login to Net Banking, click on "Cards" and visit "Request" Section, choose Instant Pin generation, select card number and enter your 4 digit PIN.
• Contactless Payment: Your HDFC Bank GIGA Business Credit Card is enabled for contactless payments, facilitating fast, convenient, and secure payments at retail outlets.
  • In India, payment through contactless mode is allowed for a maximum of ₹5000 for a single transaction without requiring a Credit Card PIN.
  • However, if the amount is higher than or equal to ₹5000, the Card holder has to enter the Credit Card PIN for security reasons.
• Manage Your Card on the Go: Access your HDFC Bank GIGA Business Credit Card 24/7 with the HDFC Bank MyCards platform (https://mycards.hdfcbank.com/).
  • Enable online & contactless usage.
  • View transactions, Cash Points, statements, and more.
  • Manage online usage, contactless usage, set limits, enable & disable features.
  • Check credit card outstanding balance, due date, and more.
• Set Card Control: You can enable various card services using MyCards (preferred), EVA, WhatsApp Banking, or Net Banking.
• Customer Care Details:
  • Toll Free: 1800 202 6161 / 1860 267 6161
  • Email: customerservices.cards@hdfcbank.com
• Card Network: Currently, the HDFC Giga Business Credit Card is only available on the Visa network.