HDFC Bank Limited is an Indian bank that offers both banking and financial services to its customers. It provides various products and services such as retail banking, wholesale banking, credit cards, and loans. HDFC Bank offers a wide range of credit cards to suit your needs. In this post, we will discuss all you need to know about the HDFC MoneyBack Credit Card review.
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What is HDFC MoneyBack Credit Card?
This card is exclusively designed for those who love shopping and especially prefer online shopping. It gives 2 reward points for every Rs.150 spend on shopping. However, it gives you 2 extra reward points (A total of 4 reward points) on online shopping.
This is one of the best credit cards in its segment when compared to others. You can enjoy the benefits of HDFC MoneyBack credit card like cash back on every money spend, fuel surcharge waiver, welcome rewards, credit limit, etc.
Here, you will get all the important information you need to know in this HDFC MoneyBack credit card review.
HDFC MoneyBack Credit Card Features
1. Contactless Payment
This card is enabled for contactless, tap, and payment facility to make payment at retail outlets. However, the maximum payment of Rs.5000 through contactless mode is allowed for a single transaction.
2. Zero Cost liability
In case you lost your card and report it immediately to HDFC 24-hour call centre. Then you have zero liability against any fraudulent transaction made on your lost card.
3. Interest Free Credit Period
You get up to 50 days of interest-free period on this card from the date of purchase.
4. Revolving Credit
You can enjoy revolving credit on this card at a nominal interest rate.
5. Renewal Offer
HDFC MoneyBack credit card offers a renewal offer. In this, just spend Rs.50,000 or above in the first year and get renewal membership fees waived off.
6. Smart EMI Option
This card gives you an option to convert your big spending into small EMIs after purchase.
7. Offers
You can check for various exclusive offers on this card on the official website of the bank.
8. Reward Point Redemption
You can redeem your reward points against your statement balance. 1 Reward point equals Rs.0.20. You can also redeem reward points against flight and hotel bookings. The validity of these is 2 years from the date of accumulation.
HDFC MoneyBack Credit Card Benefits
Some of the key benefits of this card are mentioned below:
1. Welcome rewards
Get 500 cashpoints. However, these are only applicable on payment of membership fees.
2. Milestone Benefit
Spend Rs.20,000 and above within the first 90 days of card issuance and get first-year membership fees waived off.
3. Reward Points
You earn 2 Reward Points for every Rs.150 spent. Also, earn 4 Reward Points for every Rs.150 spent on online payments. You will get a gift voucher of Rs.500 on spends of Rs.50,000 every quarter.
4. Fuel Surcharge Waiver
You get a 1% fuel surcharge waiver at all the fuel stations across India. The minimum transaction should be Rs.400. However, the maximum cashback of Rs.250 is allowed per statement cycle.
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HDFC MoneyBack Credit Card Charges & Fees
| Fees and Charges | Amount |
| Joining fee | Rs.500 |
| HDFC MoneyBack credit card fees (Annual) | Rs.500 |
| HDFC MoneyBack credit card interest rate | 3.49% per month |
| Cash withdrawal charges | 2.5% of the total withdrawn amount with a Minimum of Rs.500 (whichever is higher) |
| Cash advance limit | 40% of the total credit limit |
| Rewards redemption fee | Rs.99 for every request |
| Late payment charges | No charge up to Rs.100. |
| From Rs.100 to Rs.500, Rs.100 will be charged. | |
| Form Rs.501 to Rs.5,000 , Rs.500 will be charged. | |
| From Rs.5,001 to Rs.10,000 , Rs.600 will be charged. | |
| From Rs.10,001 to Rs.25,000 , Rs800 will be charged. | |
| For Rs.25,001 to Rs.50000 , Rs.1,100 will be charged. | |
| From Rs 50001 and above Rs.1,300 will be charged. | |
| Over-limit charges | 2.5% of the total over-limit amount with a minimum of Rs.550 |
| Payment return fees | 2% of the total amount with a minimum of Rs.450 |
| Cash processing charges | Rs.100 |
| Reissue of stolen or damaged card | Rs.100 |
| Foreign currency processing fees | 3.50% |
| Railway tickets fees | 1% of the total amount + GST is applicable. |
HDFC MoneyBack Credit Card Eligibility Criteria
For Salaried
1. Indian citizen
2. The minimum age must be above 21 years.
3. The maximum age can be 60 years.
4. Gross monthly income should be greater than Rs.25,000.
For Self Employed
1. Indian citizen.
2. The minimum age must be above 21 years.
3. The maximum age can be 65 years.
4. ITR must be greater than Rs.6.0 lakh per annum
Documents required
For Salaried
1. Identity proof
2. Address proof
3. Passport size photograph
4. Pan card photocopy
5. Salary slip or Form 16
For Self-employed
1. Identity proof
2. Address proof
3. Passport size photograph
4. Pan card photocopy
5. ITR of last year
HDFC MoneyBack Credit Card Apply Process
Follow the below-mentioned step-by-step process to apply for this card.
1. Visit the official website of HDFC bank.
2. Go to the credit cards section and select this card.
3. Fill in all the required details in the form and click on the “Submit” button.
4. After the submission of the application form, you will get a call from the HDFC executive for the document submission process.
5. You can also apply by visiting the nearest branch of HDFC Bank.
How to redeem HDFC MoneyBack credit card points?
You can redeem your HDFC MoneyBack credit card reward points in the following ways:
1. Using HDFC NetBanking
2. By Post
3. Via Customer Service Centre
Terms and conditions for redemption
1. The validity of your reward points is two years from the date of accumulation.
2. You can redeem your reward points against the statement balance. One reward point equals Rs.0.20.
3. You can redeem your reward points for travel benefits like flight and hotel bookings.
To know the complete process of redemption, please read the post “How to Redeem HDFC Card Reward Points?”
HDFC MoneyBack Credit Card Login
You can log in to your HDFC internet banking using your user/customer Id and password. After logging in, go to the “Cards” section. Here you can check your card account-related information.
Customer Care
In terms of customer care services, HDFC provides decent customer support. You can contact HDFC bank for your queries anytime you want as they provide services 24 hours a day and for all seven days. They provide services even on Saturday and Sunday which helps customers to get their queries resolved quickly.
Also, Read HDFC CreditCard Customer Care Number.
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Frequently Asked Questions
1. What is the joining fee of this card?
The joining fee for this card is Rs.500+ applicable taxes.
2. Can I apply for this card online?
Yes, you can apply for this card online.
3. What will be the credit limit of this card for me?
The credit limit of this card will be communicated to you by the bank after your application is approved.
4. Can I withdraw cash from ATM using this card?
Yes, you can withdraw cash from ATM using this card. However, a fee of 2.5% to 3% will be charged from the day of such withdrawal.
5. Can I redeem my reward points in cash?
Yes, you can redeem your reward points in cash using the Net Banking facility.
6. Can I get a supplementary card with this card?
Yes, you can get a supplementary card for your immediate family members who are above 18 years. The supplementary card carries all the benefits of the primary card. Moreover, this card is free for a lifetime.
Final Thoughts
In terms of customer care, HDFC bank does pretty well for its customer support. HDFC MoneyBack credit card is ideal for those who does shopping frequently either online or offline. This card also has many other benefits as already listed above in this post. Therefore, we can say that this card is one of the best in its segment.
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