HDFC Platinum Times Credit Card – Benefits, Fees & Eligibility

Introduction

The HDFC Platinum Times Credit Card is an entry-to-mid-range credit card offered by HDFC Bank, positioned as an "Entertainment Card." It is designed to cater to the lifestyle needs of the youth and beginners, offering significant benefits on movies, dining, and shopping, along with a complimentary Times Prime annual membership. Please note that HDFC Bank is currently not accepting new applications for this card, though existing cardholders continue to enjoy its features and benefits.

Welcome Benefits

• Complimentary Times Prime annual Membership worth Rs. 999.
• E-Vouchers Worth Rs. 5000.
• The Times Prime membership can be activated after performing 3 transactions within a calendar quarter.
• Welcome benefits are delivered to your registered card email address in the form of e-vouchers and can also be accessed by visiting the HDFC Times Card website.

Fees

• Joining Fee: ₹1,000 plus applicable taxes.
• Renewal Fee: ₹1,000 plus applicable taxes.
• Spend-Based Waiver: The annual fee of Rs 1,000 is waived off on annual spends of Rs. 2.5 lakhs or above in the previous 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) on revolving credit.
• Fuel Surcharge Waiver: 1% fuel surcharge waived off at all filling stations across India for transactions between Rs. 400 and Rs. 5,000.
  • Maximum waiver of Rs. 250 per month.
  • Alternatively, a maximum cashback of ₹500 per statement cycle.
• Cash Advance Charges: 2.5% of the transaction fee, subject to a minimum charge of Rs 500.
• Rental Transactions Fee: 1% fee on rental transactions from the second transaction of the calendar month (effective 1st Jan’, 2023).
• DCC Transactions Markup: 1% markup on Dynamic Currency Conversion (DCC) transactions (effective 1st Jan’, 2023).

Rewards

• General Spends: Earn 3 Reward Points on every spend of ₹150.
• Weekday Dining Spends: Earn 10 Reward Points on every weekday dining spent of ₹150 (applicable only for transactions categorised under 'Restaurant' MCC).
• Movie Benefits:
  • 50% discount on movie tickets booked on BookMyShow, with a maximum discount of Rs. 600 per transaction.
  • Up to 4 discounted movie tickets per card monthly.
  • Additional ₹50 discount on food and beverages once per user when booking movies.
• Dining Benefits:
  • Up to 15% discount (maximum Rs. 1500) at restaurants through PayEazy on Eazydiner.
  • Discount of ₹1,500 and 6 months free EazyDiner membership with Times Platinum Card.
  • Up to 40% discount on select restaurants on dining bills via the Swiggy Dineout app.
• Cashback Benefits (via SmartPay/SmartBuy):
  • Up to 5% CashBack on utility bills via SmartPay.
  • Up to 5% CashBack on shopping via SmartBuy.
  • Up to 10% CashBack on flight and hotel bookings, gift vouchers, and more via SmartBuy.
  • Additional cashback of up to 5% on utility bills & shopping via SmartBuy and SmartPay (capped at Rs. 450 per month).
• Times Prime Membership Benefits: Benefit from Gaana Plus, SonyLIV, TOI plus, Chaayos, Uber, Myntra, and more. Offers are active on completing just one transaction per calendar quarter.
• Other Offers:
  • Gift vouchers across shopping, dining, apparel, and many other categories.
  • Round-the-year offers and discounts on travel, shopping, dining, and wellness categories at select partner merchants.
  • Up to 20% off on shopping, wellness, and hotels at selected partners.
  • City-specific offers apply.
• Reward Point Accrual Restrictions and Caps:
  • Reward Points on grocery transactions are capped at 1000 per month (effective 1st Jan’, 2023).
  • Reward Points accrued for utility/telecom/cable transactions will be capped at 2,000 per month (effective 1st Sept', 2024).
  • Education payments made via CRED, Cheq, MobiKwik, etc., will not earn Reward Points (effective 1st Sept', 2024).
  • EasyEMI and e-wallet loading transactions will not accumulate Reward Points (effective 1st July, 2017).
  • Reward Points accrued will be reversed if a retail transaction is converted into SmartEMI (effective 1st July, 2017).
  • Reward Points accrued for Insurance transactions will have a maximum cap of 2,000 per day (effective 1st July, 2017).
  • Reward Points will not be accrued for fuel transactions (effective 1st July, 2017).

Rewards Redemption Guide

• Reward Points can be redeemed by logging into your HDFC Bank net banking account and clicking on the reward redemption link.
• Rewards can be redeemed against the HDFC Rewards catalogue, which features various products from different categories.
• The value of Reward Points may differ for different products.
• Reward Points earned are valid for 2 years from the date of accumulation.
• A redemption fee of Rs 99 (plus applicable taxes) is charged for every redemption request made.

Card Eligibility Criteria

• Salaried Indian Citizen:
  • Age: Minimum 21 years and maximum 60 years.
  • Income: Minimum Rs 4,20,000 per annum (as per ITR) or Net monthly income of ₹35,000 and above.
• Self-Employed Indian Citizen:
  • Age: Minimum 21 years and maximum 65 years.
  • Income: Minimum Rs. 6,00,000 per annum (as per ITR) or Annual Income of ₹6 lakh and above.

Card Review

The HDFC Platinum Times Credit Card is well-suited for the young generation and beginners, offering a strong focus on entertainment and dining benefits. It is considered a popular card in the basic category due to its affordable fee and decent benefits across shopping, dining, and entertainment.

Pros:

• Affordable annual fee with a clear spend-based waiver condition.
• Significant discounts on movie tickets (50% off on BookMyShow) and dining (up to 15% via PayEazy, up to 40% via Swiggy Dineout).
• Accelerated reward points on weekday dining.
• Complimentary Times Prime annual membership provides access to various lifestyle benefits.
• Opportunities for cashback on utility bills and shopping via SmartPay and SmartBuy.
• Revolving credit facility and up to 50 days of interest-free credit.

Cons:

• The card is currently discontinued for new applications.
• Reward points have several caps and exclusions on specific transaction categories, including grocery, utility, insurance, fuel, EMI, e-wallet loading, and education payments.
• A foreign currency markup of 3.5% is relatively high.
• A fee is charged for rewards redemption.

Important Product Details

• The HDFC Platinum Times Credit Card is currently not accepting new applications, but existing cardholders will continue to enjoy its features and benefits.
• Complimentary Times Prime annual Membership worth Rs. 999 and E-Vouchers Worth Rs. 5000 are provided as welcome benefits.
• Enjoy 50% off on movie ticket bookings on BookMyShow (max discount of Rs. 600 per transaction, up to 4 tickets per month).
• Get up to 15% discount (max Rs. 1500) at restaurants through PayEazy on Eazydiner.
• Earn 3 Reward Points per Rs. 150 spent, with accelerated 10 Reward Points per Rs. 150 spent on weekday dining.
• The annual fee of Rs 1,000 (plus taxes) is waived off on annual spends of Rs. 2.5 lakhs or above.
• A 1% fuel surcharge waiver is available for transactions between Rs. 400 and Rs. 5,000, with a maximum waiver of ₹250 per month or ₹500 cashback per cycle.
• Reward Points are valid for 2 years from the date of earning.
• Revolving Credit is available, offering up to 50 days of interest-free credit from the date of purchase.
• The card is equipped with EMV Chip Card technology for enhanced security against unauthorized use.
• Zero liability protection is offered on fraudulent Credit Card transactions reported immediately to HDFC’s 24/7 helpline.
• The card is enabled for contactless payments, allowing transactions up to ₹5,000 without a PIN entry in India (PIN required for amounts ₹5,000 or more).

Other Details

• Card Management & Controls: Card controls can be managed conveniently through various channels including Netbanking, Mobile Banking App, MyCards portal, PayZapp, WhatsApp Banking, and IVR. These platforms allow users to enable/disable online, contactless, and international usage, and set transaction limits.
• EMI Conversion: There is an option to convert big spends into EMIs after purchase (SmartEMI). However, Reward Points accrued will be reversed if a retail transaction is converted into SmartEMI.
• Card Inactivity Policy: Effective November 01, 2020, the Bank retains the authority to revoke the card if it remains inactive, without any transactions, for six consecutive months. Prior written notice will be sent to the registered email address, phone number, or communication address.
• Minimum Repayment Amount: The bank determines the minimum repayment amount for the HDFC Bank Platinum Times Credit Card, which may vary based on the outstanding balance. Cardholders should check their monthly statement for specific details.
• Late Payment Consequences: Failure to settle either the Minimum Amount Due or the total amount due in each monthly billing statement will result in a late payment fee. The bank will inform the customer of non-payment and its intention to report the cardholder as a defaulter to Credit Information Companies (CIC) if payment is not made within 7 days. Frequent late payments may affect credit card rating, potentially leading to a reduction in credit limit and an increase in the credit card interest rate.
• Application Process (Historical): While new applications are currently not accepted, historically, the card could be applied for online (via an "Apply Now" option) or offline (by visiting an HDFC branch with required documents).
• Terms and Conditions: Cardholders are advised to go through the Most Important Terms and Conditions (MITC) for a thorough understanding of all applicable terms.