HDFC Bank MoneyBack+ Credit Card

Key Highlights of HDFC MoneyBack+ Credit Card

The following are some of the key highlights of the HDFC MoneyBack+ Credit Card. They are:

• 10 times cashpoints on Amazon, FlipKart, Swiggy, Reliance Smart superstore.
• 2 cashpoint on Rs.150 spent on other spends.
• Get a gift voucher of Rs.500 on spending Rs.50,000 on every calendar year.
• Get 10% additional discount on Swiggy Dineout using coupon code HDFCCARDS.

For the RuPay Credit Card

• All the UPI spends is excluding the fuel wallet/prepaid card loads or the voucher purchase. You will earn 2 reward points for every Rs.150 spend that is capped to the maximum of 500 reward points.

Features & Benefits HDFC MoneyBack+ Credit Card

Other Additional Features

• Zero Lost Card Liability: When you lose the HDFC MoneyBack+ Credit Card, you can report it to the 24-hour call centre. Some of the toll-free numbers that you can reach out to include 022-61606160 and for international travellers, you can reach to 1800 1600/1800 2600.
• Interest-Free Credit Period: Enjoy a 50 days interest-free credit period available with the HDFC MoneyBack+ Credit Card.
• Revolving Credit: Enjoy the benefit revolving credit at a nominal interest rate.

HDFC MoneyBack+ Credit Card Fees & Charges

Welcome/Renewal Benefit:

• 500 cash points applicable on the payment of membership fee.

Fuel Surcharge Waiver:

• 1% fuel surcharge waiver on all fuel transactions. (Minimum transaction of Rs.400, Maximum transaction of Rs. 5000 with a maximum waiver of Rs. 250 per statement cycle).

Quarterly Spend-Based Benefit:

• Every calendar quarter, get a gift voucher of Rs.500 on spending Rs.50,000 and above. Earn a maximum gift voucher of Rs.2,000.

Renewal Fee Waiver:

• You will get your renewal fee waived off on spending of Rs.50,000 and above in an annual year.

Quarterly Spend Based Benefit:

• During every calendar quarter get a gift voucher worth Rs.500 on spending Rs.50,000 and above. Earn up to Rs.2000 gift voucher in a year.

Smart EMI option:

• You have the flexibility of converting your big spends to flexible EMI option.

Contactless Payments:

• The HDFC MoneyBack+ Credit Card can be used for contactless payments for safe, and eay way of making payments.

HDFC MoneyBack+ Credit Card Eligibility

The following are theeligibility criteria available that needs to be met by individuals in order to earn the HDFC MoneyBack+ Credit Card. They are:

Salaried:

• Indian National
• Age: 21 Years to 60 Years old
• Income > Rs.20,000

Self-Employed:

• Indian National
• Age: 21 Years to 65 Years old
• Income > Rs.6,00,000

Documents Required

The following are the list of documents that are required for the HDFC MoneyBack+ Credit Card. They are:

• Address Proof: PAN Card, Passport, Driving License, Voters ID Card, Aadhar Card
• Identity Proof: Passport, Driving License, Electricity Bill, Landline Bill, Ration Card, Bank Passbook.
• Color Photographs
• Bank Statement for the past 3 months showing a stable income.

• Income Proof:
• Salaried Individuals: Latest 2 or 3 pay slips.
• Self-Employed Professional: Recent IT returns.

How to Apply for HDFC MoneyBack+ Credit Card

Applicants have two options to apply for the HDFC MoneyBack + Credit Card. They are:

Online Method:

• Go to the Official HDFC Bank Website.
• Select the Credit Cards section.
• Click “Apply Online” button.
• Fill in the personal details.
• Upload the KYC documents. Some of the documents including Aadhar card, PAN card.
• Wait for the bank to process the application and approve your credit card.

Offline Method:

• Approach the nearest branch of the HDFC Bank.
• Speak with a customer service executive.
• Submit the required documents.
• Complete the KYC process.
• Await for an approval.

Some of the KYC Documents required by the bank to approve your application are given below:

• Identity Proof: Aadhar Card, PAN Card, Voters ID card, Passport, Driving License
• Address Proof: Aadhar card, Voters ID card, Passport, Utility bills, Bank account statements
• Income Proof: Recent salary slips, Form 16, Bank account statement

HDFC MoneyBack+ Credit Card Reward Redemption

Cashback Redemption:

• The cashpoints that is earned through the HDFC MoneyBack+ credit card is redeemed against the statement balance at the rate of 1 cash point = 0.25 paise. This is done through net banking or physical redemption.
• Cashpoints can be used for redemption against travel benefits of hotels and flight bookings.
• These cashpoints can also be redeemed at SmartBuy Rewards portal where the Credit Card members can redeem to a maximum of 50% of the booking value through CashPoints at the rate of 1 CashPoint = 0.25Ps.

Reward Points Redemption:

• Redemption of reward points for flights and hotel bookings with a maximum capping of Rs.50,000 per month.
• Redemption of reward points for cash is restricted to Rs.50,000 per month.
• Redemption up to 70% of the product/voucher value through reward points and pay the rest through credit card.
• Cardholders will have a minimum cashpoints equivalent to Rs.500. Validity of the cashpoints is only for two years.

Pros & Cons of HDFC MoneyBack+ Credit Card

We have formulated some Pros and Cons on the HDFC MoneyBack+ Credit Card based on the recent features and the feedback of the users.

Pros

• High Reward on Popular Platforms: Earn 10 times cash points while shopping on Amazon, Flipkart, Swiggy, Reliance Smart and Big Basket.
• Good Rewards on EMIs and Popular Spends: 5 times cashpoints on EMI spends and 2 times cashpoints per Rs.150 spent on other categories.
• Gift Voucher: Quarterly gift voucher of Rs.500 on spending Rs.50,000 in the quarter. The maximum gift voucher amount is Rs.2,000.
• Welcome Benefits: Bonus cashpoints when you join and on renewal. Also annual/renewal fee waiver if annual spend cross the threshold.
• Zero Lost Card Liability: You do not have any liability if you have lost or the card gets stolen.

Cons

• Minimal Returns on Reward Points:The returns that comes with the reward points are minimal. Though the reward points you get are in plenty the monetary benefit you derive out of it is minimal.
• Minimal Fuel Surcharge:The fuel surcharge that comes with the credit card is very minimal. They do not have any high rewards in many categories.
• Rewards Expiry:The expiry of the reward points is within 2 years within the time of accrual which is relatively a short duration of time.
• No Travel Benefits:There are no travel benefits like airport lounge access, travel insurance that many high-level cards have.
• Annual Fee:The annual fee is Rs.500, though a meagre amount individuals who do not use the card will end paying the yearly fees without any benefits.
• Capping Benefits:Many of the rewards and special rates are subject to monthly or quarterly capping that prevents high spenders to make the maximum benefit out of the capping.

Who Should Apply?

Individuals who have a regular income with a good credit history and lifestyle can go in for the HDFC MoneyBack+ credit card. The following are the list of members who can apply for the HDFC MoneyBack+ credit card.

Frequent Shoppers:

Individuals who have a frequent habit of shopping online on various e-commerce platforms like Amazon. Flipkart, Swiggy will benefit from the card’s reward program.

Beginners Credit Card:

Individuals who are starting their venture into credit cards, who are on a lookout for a low membership fee, whoever wants to build their credit score, for earning rewards on daily spendings can go in for the HDFC MoneyBack+ credit card.

Budget-Conscious Individuals:

Individuals who wants to save money on the regular spending and earn cashback on their regular purchases can find the credit card helpful. This one is a great choice for them to manage their expenses.