HDFC Bank MoneyBack Credit Card: One of the popular entry-level credit cards in India, HDFC MoneyBack credit card offers cashback on every transaction as name suggests i.e., MoneyBack. This is the best option for the people who are shopaholic, specially online shopping as it offers higher rewards on online transactions.
If want to start your credit journey, then you can apply for this credit card. The benefits provided by this credit card are quite satisfactory as compared to the annual fee. And, also the reward points can be redeemed against an array of categories, including cashback, flight/hotel bookings on SmartBuy, and products/vouchers, and you can also earn gift vouchers every quarter on the basis of your quarterly spends.
Contents
HDFC Bank MoneyBack Credit Card
1. Features and Benefits:
The HDFC Bank MoneyBack Credit Card lets you earn cashback as well as reward points on your transactions. The good thing is that you can convert your earned reward points into cashback, which is a rare feature and generally not available on the basic credit cards.
Here we have mentioned the features and benefits offered by the HDFC Bank MoneyBack Credit Card:
- Welcome Benefits: As a welcome benefit, you get 500 Cash points on the payment of the membership fee and on card renewal, get 500 cash points on the renewal of your card.
- Cashback Benefits: 2 reward points on retail spends and 2 times more points on online spends. Redeem reward points for cash i.e., 100 reward points = Rs.20.
- Milestone Benefit: On the expenditure of Rs. 50,000 or more in a qaurter, you can earn a e-voucher which is worth Rs. 500 with the validity of 60 days.
- Fuel Surcharge Waiver: Cardholders will get a fuel surcharge waiver of 1%, at fuel pumps all over India on HDFC MoneyBack Credit Card and get a maximum cashback of Rs 250 on your fuel transactions. This is applicable on a minimum transaction value of Rs. 400 and .
- Joining and Renewal Fee Waiver: if you spend Rs. 50,000 or more in the previous year, The annual fee for HDFC Bank MoneyBack Credit Card can be waived on the renewal fee of Rs. 500.
- Zero Credit Card Lost Liability: In case, you lose your card you have no liability for any unauthorized purchases or any fraudulent transactions made with the card, and you have to report the same within 24 hours.
- Reward Points: 2X more reward points on online spends, Earn 2 reward points on every Rs.150 spent on the card, Also redeemable for air miles and gifts from exclusive rewards catalogue, Minimum 2,500 points are required for redemption with the validity of 2 years from the date of accumulation.
Check, HDFC Regalia Credit Card
2. Fees and Charges:
- The joining fee for the HDFC Bank MoneyBack Credit Card- Rs. 500.
- The Annual fee or Renewal fee charges are- Rs. 500 (waived off on spending Rs. 50,000 in a year).
- The Cash withdrawal fee, Rs. 500 or 2.5% of the withdrawn amount.
- On all the Foreign currency transaction, you have to pay forex fee of 3.5% on the transacted amount. This fee is to be paid on all international transactions done using this credit card.
- An interest rate of 3.49% per month (43.2% annually) is applicable on the due amount on the card if the cardholder is unable to clear all the dues by the payment due date.
- Late Payment Charges are- apart from the interest rate, a late payment fee shall also be applicable, For Statement Balance: Less than Rs. 100: Nil, Between Rs. 100 to Rs. 500: Rs. 100, Between Rs. 501 to Rs. 5,000: Rs. 500, Between Rs. 5,001 to Rs. 10,000: Rs. 600, Between Rs. 10,001 to Rs. 25,000: Rs 800, Between Rs. 25,001 to Rs. 50,000: Rs. 1,100, and for Above Rs. 50,000: Rs. 1,300.
3. Eligibility Criteria to Apply:
The common eligibility criteria and the documents required to apply for HDFC Bank MoneyBack credit card are as follows:
- The age limit for applying for this card is 21-60 years of age for salaried employees and 21-65 years of age for Self-Employed Individuals.
- The cardholder should be an Indian resident.
- The cardholder should have a stable source of income either through salary i.e., should earn a minimum of Rs 3,00,000 per annum or if self-employment i.e., should be filling an ITR of a minimum of Rs. 6 Lakhs annually.
- For Identity Proof documents you need are Aadhar Card, Voters Id, PAN Card, Passport, Driving License.
- For Address Proof, Utility bills of the latest months, Aadhar Card, Passport, and Ration card are the needed documents.
- For Income Proof, you need to submit the latest bank statement as a salaried person, and can also, submit your company ID card, if you are salaried, and if you are self-employed, you should submit your latest ITR.
Also check, HDFC Bank Millennia Credit Card
4. How to Apply for HDFC Bank MoneyBack credit card:
For HDFC Bank MoneyBack credit card you can apply either online or offline. For offline mode, you can visit your nearest HDFC Bank branch with all the required documents and fill out the physical application form.
To apply for HDFC Bank MoneyBack Credit Card online, you have to visit Official website of the HDFC Bank i.e., www.hdfcbank.com and HDFC’s credit card application page and select your credit card and fill all the requested details and providing the required documents.
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