Tata Neu Plus HDFC Bank Credit Card – Benefits, Fees & Eligibility

Introduction

The Tata Neu Plus HDFC Bank Credit Card is a co-branded offering from HDFC Bank and Tata Group, designed for individuals loyal to both Tata Brands and HDFC Bank. Positioned as a mid-range shopping card, it offers significant NeuCoins on spending with Tata and non-Tata brands, a welcome bonus of 499 NeuCoins, complimentary domestic airport lounge access, and a fuel surcharge waiver. This card aims to provide exclusive benefits for frequent shoppers within the Tata ecosystem and beyond.

Welcome Benefits

• Cardholders receive 499 NeuCoins as a welcome benefit.
• To avail, a successful transaction must be performed using the credit card within the first 30 days of card issuance.
• The NeuCoins will be credited to the account within 60 days from the date of the transaction.
• This welcome benefit is not applicable to First Year Free and Lifetime Free credit card variants.

Fees

• Joining Fee: ₹499 + GST
• Annual Fee: ₹499 + GST
• Spend-Based Waiver: The renewal fee is waived if the cardholder spends ₹1,00,000 or more in an anniversary year.
• Foreign Currency Markup: 3.5%
• Interest Rates: 3.75% per month (equivalent to 45% annually)
• Fuel Surcharge Waiver: 1% of the fuel surcharge will be waived on fuel transactions between Rs. 400 and Rs. 5,000 at all fuel stations in India. The maximum surcharge waiver is capped at Rs. 250 per statement cycle.
• Cash Advance Charges: 2.5% of the amount withdrawn or ₹500, whichever is higher.

Rewards

• Rewards Rate:
  • 7% NeuCoins on the Tata Neu app/website (this includes an additional 5% coins earned on activating the NeuPass).
  • 2% NeuCoins on non-EMI spends on Tata-partnered brands.
  • 1% NeuCoins on spending on Non-Tata brands and merchant EMI spends.
  • Maximum 1000 NeuCoins per month from grocery transactions.
• Travel Benefits:
  • Four complimentary visits to domestic airport lounges per calendar year.
  • Lounge access is limited to 1 visit per quarter.
  • Airport lounge access is based on spends of ₹50,000 or more in a quarter. After meeting this criterion, cardholders receive a voucher for lounge access.
• Exclusions: NeuCoins will not accrue on transactions done towards wallet loads, fuel transactions, rent, and smart EMI.
• Movie & Dining: No specific movie or dining benefits are provided.
• International Lounge Access: Not available.
• Golf: Not available.
• Insurance Benefits: Not available.

Rewards Redemption Guide

• NeuCoins earned can be redeemed to make purchases on the Tata Neu Application or Website.
• Redemption is available for Tata partnered brands such as Tata 1mg, Air India Express, Croma, Westside, Bigbasket, Tata CLiQ Luxury, Hotel Bookings/Purchases on IHCL, Titan, Tanishq, and Qmin.
• The monetary value of 1 Neu Coin is equivalent to Re. 1.
• To redeem NeuCoins, select Tata Pay as the payment method when purchasing products on the Tata Neu Application or website.
• NeuCoins are valid for a period of 1 year (365 days) from the date of the transaction on which they were earned.

Card Eligibility Criteria

• Residency: Applicant must be an Indian resident.
• Employment Status: Applicant should be either salaried or self-employed.
• For Salaried Individuals:
  • Age: Between 21 years and 60 years.
  • Income: Minimum of Rs. 25,000 per month.
• For Self-Employed Individuals:
  • Age: Between 21 years and 65 years.
  • Income: Filing an ITR of a minimum of Rs. 6 Lakhs per annum.

Card Review

• Overall Verdict: The Tata Neu Plus HDFC Bank Credit Card offers significant value for loyal customers of both HDFC Bank and Tata brands. It is a strong contender among shopping credit cards, providing NeuCoins on both Tata and non-Tata brand purchases. It is also beneficial for individuals who frequently travel domestically by air due to its complimentary lounge access. This card is highly recommended for HDFC bank account holders who frequently shop on Tata brands.
• Pros:
  • Enjoy 499 NeuCoins as a welcome benefit upon making a transaction within the first 30 days of card issuance.
  • Renewal fees can be waived by spending ₹1,00,000 in a calendar year.
  • Significant savings on purchases from Tata Brands like Tanishq and cult.fit.
• Cons:
  • No international lounge access, which is a drawback for international travelers.
  • Lacks specific movie or dining benefits.
  • NeuCoins have a limited validity period of 365 days.

Important Product Details

• Welcome benefit of 499 NeuCoins.
• Earn 2% back as NeuCoins when shopping at Tata brands.
• Earn 1% back as NeuCoins when shopping at Non-Tata brands.
• Receive an additional 5% back as NeuCoins on the Tata Neu app or website after registering for Tata NeuPass.
• Complimentary access to domestic airport lounges (4 per year, 1 per quarter, based on ₹50,000 quarterly spend).
• 1% surcharge waiver on fuel transactions, capped at Rs. 250 per month.
• Renewal fee waiver based on annual spend of ₹1 Lakh.
• No international lounge access.
• No movie or dining benefits.
• NeuCoins are valid for 365 days.

Other Details

• The calendar quarter for lounge access is defined as: January-March, April-June, July-September, and October-December.
• A PAN Card is mandatory for the credit card application.