HDFC Platinum Times Credit Card – Benefits, Fees & Eligibility

HDFC Platinum Times Credit Card

Introduction

The HDFC Platinum Times Credit Card is branded as the "Entertainment Card" by HDFC Bank, offering numerous benefits related to movies, dining, and shopping. This co-branded initiative with Times Internet aims to cater to the lifestyle needs of the youth by helping them save more and earn rewards. Cardholders can earn 10 reward points for every weekday dining spend of Rs 150 and 3 reward points for every retail spend of Rs 150. These reward points can be redeemed through the product catalog by logging into the HDFC Bank net banking account. The card also provides several additional benefits across various lifestyle categories.

Welcome Benefits

• Welcome vouchers worth Rs 5000 across shopping, apparel, dining, and many other categories.
• A complimentary annual Times Prime Membership, valued at Rs 999.
• To avail the welcome benefits, the customer needs to activate the card within 30 days from the card open date.
• The Times Prime membership can be activated upon completing 1 transaction in a calendar quarter.
• For Lifetime Free (LTF) cardholders, the Times Prime membership is provided only for the first year, given that the eligibility criteria are met and the card is issued after July 2022.
• Welcome benefits are delivered to the registered card email address in the form of e-vouchers and can also be accessed via the HDFC Times Card website.

Fees

• Joining Fee: NIL
• Renewal Fee: Rs 1,000 plus Applicable Taxes (GST)
• Spend-Based Waiver: The annual renewal membership fee of Rs 1,000 is waived off if the cardholder spends Rs 2,50,000 or more in the preceding year.
• Rewards Redemption Fee: Rs 99 plus applicable taxes per redemption request.
• Foreign Currency Markup: 3.5% of the transaction amount plus applicable taxes.
• Interest Rates: 3.6% per month (or 43.2% annually).
• Fuel Surcharge Waiver: 1% fuel surcharge waiver on transactions between Rs 400 and Rs 4000. Maximum waiver of Rs 500 per month.
• Cash Advance Charges: 2.5% of the transaction fee, subject to a minimum charge of Rs 500.
• Rental Transactions Fee: A 1% fee will be applicable on rental transactions from the second rental transaction of the calendar month (effective 1st January 2023).
• Dynamic Currency Conversion (DCC) Markup: A 1% mark-up will be applicable on DCC transactions (effective 1st January 2023).

Rewards

• Reward Type: Reward Points.

Reward Points Accrual

• Earn 3 Reward Points for every ₹150 spent on retail transactions.
• Weekday Dining Bonanza: Earn 10 Reward Points for every ₹150 spent on dining on weekdays. This applies only to transactions classified under the ‘Restaurant’ Merchant Category Code (MCC) as defined by VISA/MasterCard; ‘Hotel’ categories do not qualify for bonanza Reward Points.
• Up to 5% Cashback on utility bills through SmartPay.
• Up to 5% Cashback on shopping through SmartBuy. (Additional cashback capped at Rs. 450 per month for utility bills & shopping via SmartBuy and SmartPay).

Entertainment Benefits

• Complimentary Annual Times Prime Membership (also offered as a welcome benefit). This includes annual subscriptions and offers on brands like Gaana Plus, Sonyliv, TOI+, Chaayos & Uber, Myntra, and many more.
• Avail 50% off on movie tickets via BookMyShow. The BookMyShow offer has been restored.
• A cardholder can purchase a maximum of 4 discounted movie tickets per card per month.
• A maximum discount of Rs 600 can be availed per transaction by the cardholder.
• A discount of Rs 50 on Food and Beverage can be availed only once by the user.

Dining Benefits

• Extra discount of up to Rs 1500 (maximum of 15% of your bill) when using your HDFC Bank Times Card Credit Platinum via PayEazy on Eazydiner.
• Up to 40% discount on select restaurants on dining bills via the Swiggy Dineout app.

Shopping & Lifestyle Offers

• Up to 20% off on online and offline shopping, wellness, and hotel stays at selected partners.
• City-wise offers are available every single day. Visit the Times Card WebApp to view the latest offer details.

Exclusions & Caps on Reward Points

• Effective 1st July 2017:

  • EasyEMI and e-wallet loading transactions will not accrue Reward Points.
  • Reward points accrued will be reversed if a retail transaction is converted into SmartEMI.
  • Reward points accrued for Insurance transactions will have a maximum cap of 2,000 per day.
  • Reward Points will not be accrued for fuel transactions.

• Effective 1st January 2023:

  • Rewards on grocery transactions will be capped at 1000 Reward Points per month.

• Effective 1st September 2024:

  • Reward Points earned on Utility transactions will be capped at 2000 Reward Points per calendar month.
  • Reward Points earned on Telecom & Cable transactions will be capped at 2000 Reward Points per calendar month.
  • Education payments made through third-party apps (such as CRED, Cheq, MobiKwik, and others) will NOT earn Reward Points.
  • However, education payments made directly through college/school websites or their POS machines will earn Reward Points.

• Reward Points Validity: Reward Points are valid only for 2 years from the date of accumulation.

Rewards Redemption Guide

• Reward points can be redeemed against the outstanding balance on the card.
• A minimum amount of Rs 500 is required for redemption against the outstanding balance.
• The redemption rate for cash against outstanding balance is 1 Reward Point = ₹0.15.
• Reward points can also be redeemed against items in the MyRewards Catalogue / HDFC Rewards catalogue. The value of Reward Points may differ for different products in the catalogue.
• Redemption of earned Rewards can be done by logging into your HDFC Bank net banking account and clicking on the reward redemption link.

Card Eligibility Criteria

For Salaried Indian Nationals

• Age: 21 years to 60 years
• Net Monthly Income: Rs 35,000 & above (or Minimum Rs 4,20,000 per annum as per ITR).

For Self-Employed Indian Nationals

• Age: 21 years to 65 years
• Annual Income: Rs 6,00,000 & above (as per ITR).

Card Review

The HDFC Platinum Times Credit Card is well-suited for the young generation, providing a host of offers and benefits focused on dining and entertainment. It is an excellent choice for beginners looking for a credit card with an affordable fee. The card charges a nominal annual fee of Rs 1,000, which can be waived based on annual spending. It offers accelerated reward points on weekday dining. The review mentions a reward rate of Rs 0.10 on redemptions (however, the explicit redemption value for cash against outstanding balance is 1 Reward Point = ₹0.15).

Important Product Details

• Complimentary Annual Times Prime Membership.
• Welcome e-vouchers worth Rs 5000 across shopping, apparel, dining, and other categories.
• 50% off on movie ticket bookings on BookMyShow, with a maximum discount of Rs 600 per transaction.
• Up to 15% discount (maximum Rs 1500) on dining through PayEazy on Eazydiner.
• Up to 40% discount on dining bills via the Swiggy Dineout app.
• Earn 3 Reward Points for every Rs 150 spent on retail.
• Earn 10 Reward Points for every Rs 150 spent on weekday dining.
• Round-the-year offers and up to 20% discounts on travel, shopping, dining, and wellness categories at select partner merchants.
• Up to 5% cashback on utility bills via SmartPay and on shopping via SmartBuy (with an overall cap of Rs. 450 per month for cashback).
• 1% fuel surcharge waiver on transactions between Rs 400 and Rs 4000, with a maximum waiver of Rs 500 per month.
• The annual fee is waived off on annual spends of Rs 2.5 lakhs or above.

Other Details

• SmartEMI: The Credit Card comes with an option to convert big spends into Easy Monthly Installments (EMI) after purchase.
• Contactless Payment: The HDFC Bank Times Card Credit Platinum is enabled for contactless payments, facilitating fast, convenient, and secure payments at retail outlets. Cardholders should look for the contactless network symbol on their card. 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 must enter the Credit Card PIN for security reasons.
• Card Cancellation Policy: For cards sourced starting 01-11-2020, the Bank reserves the right to cancel the card if it remains inactive and is not used for effecting any transaction for a continuous period of 6 months, after prior written notice sent to the email address and/or phone number and/or communication address registered in the records of the Bank.
• Application Process: You can apply for the card online or offline. For offline application, visit the nearest HDFC branch with required documents and fill out a physical application form. For online application, select the "Apply Now" option, enter your details carefully, and submit the application.