HDFC Freedom Credit Card Review

With HDFC Bank Freedom Credit Card, you can earn up to 10X reward points on your purchases at selected merchants. Details for the same are mentioned below:

• 10X CashPoints on transactions via Big Basket, BookMyShow, OYO, Swiggy & Uber (Maximum of 2,500 CashPoints can be earned in a calendar month)
• 5X CashPoints on EMI spends at merchant locations (Maximum of 2,500 CashPoints can be earned in a calendar month)
• 1 CashPoint for every Rs. 150 on other spends (Excluding fuel, wallet/ prepaid card loads or voucher purchases)

Note: For cards issued on or before 30 September 2021, the reward benefits are different. Click here to read more.

Considering the reward benefits and the annual fee of the card, this is a good option if your goal is to earn reward points on your expenses. The good thing is you can redeem the earned reward points against cashback, AirMiles or other options available under the HDFC credit card rewards catalogue. However, the value of 1 CashPoint is equivalent to Re. 0.15 and you must have a minimum of 500 reward points for redeeming your CashPoints against cashback.

Overall, the rewards rate offered by this credit card is quite average but there are cards that offer better rewards rate on your expenses. However, being an entry-level credit card this credit card offers satisfactory benefits with a low annual fee. But, if your goal is to achieve reward benefits on a specific category, then you can explore other options available in the market.

The card also rewards you with welcome as well as renewal benefits in the form of additional reward points. After the payment of joining or annual fee, you will get additional 500 CashPoints, which you can later redeem on your future expenses.

The welcome or renewal benefits provided on this credit card are not exemplary as most credit cards offer welcome or renewal benefits worth the joining or annual fee. However, this benefit is good as it lets you earn additional reward points without making any purchases. But, there are other low annual fee credit cards that come with better welcome benefits, you can look for such cards and find the right option for you. The welcome or renewal benefits plays an important role, but they should not be the main factors basis on which you make your decision.

Suggested read: Credit Cards with Best Welcome Benefits

Apart from rewards, this credit card also gives other privileges, such as annual fee waiver, fuel benefits, dining benefits and more. Here are the details:

Annual Fee Waiver: On achieving the spending milestone of Rs. 50,000 annually, the card rewards you with an annual fee waiver. The spending milestone sums up to approximately Rs. 4,000 per month, which is easily achievable if you moderately use your credit card. You don’t have to spend a lot to avail this credit card for free.

Fuel Benefit: You can avail 1% fuel surcharge waiver on your transactions between Rs. 400 to Rs. 5,000. You can avail a maximum waiver of Rs. 250 in a statement cycle. This is a basic benefit offered by most of the credit cards. The fuel benefit provided is not exemplary and only good if you have fewer fuel expenses and does not commute on daily basis.

Low-interest Rate: This is one of the lowest interest rate credit cards that charges an interest rate of 0.99% on your purchases. However, this benefit is applicable only for non-EMI purchases that are made within the first 90 days from the card issuance date. It is a good benefit to have, but it doesn’t make much of a difference to make this card outshine.

Dining Benefit: Just like most of the HDFC credit cards, this card also lets you save up to 15% on dining at 2,000+ premium restaurants in selected cities with a Dineout membership. This is not a unique feature of this card as HDFC Bank provides this benefit on most of the credit cards.

Being a rewards credit card, the other benefits provided on this credit card are also satisfactory, considering the annual fee. You can not only earn rewards but also avail benefits on other categories, be it dining or fuel.

HDFC Bank Freedom Credit Card is a basic credit card with not an extensive benefits structure. Even the default rewards rate is average which isn’t suitable for high spenders. But, if you are a moderate spender and are looking for a low annual fee credit card, then this could be the right option for you. Apart from benefits, the card comes with relaxed eligibility, which makes it suitable for you if you are new to credit. You don’t have to have a strong credit history in order to avail this credit card. While making your decision, keep the below-mentioned things in your mind:

While there are many advantages and perks of HDFC Bank Freedom Credit Card, but it also has some limitations associated with it. Here are some of the drawbacks of this credit card:

• There are no shopping benefits exclusively as one expects from an HDFC Credit Card. If you are a shopaholic, you can opt for other popular shopping credit cards available in the market.
• The default rewards rate is average and does not suit you if you are a high spender
• There is no travel discount provided by the card, which might be a major drawback if you travel frequently
• This card does not offer any exclusive discount on the entertainment category
• The card does not provide airport lounge access or any special discount on air ticket bookings, which is generally provided even on the low annual fee credit cards

HDFC Freedom Credit Card is best suited if you are looking for a rewards credit card and don’t want to pay a high annual fee. This card gives you an average value back in the form of reward points on your expenses. Also, the minimum income required for the card is only Rs. 12,000 per month and if you have a savings account with HDFC Bank, the chances of approval are even higher. Hence, it can be a great card to start your credit journey.

However, if the card doesn’t suit your needs, you can opt for other similar cards like Standard Chartered Platinum Rewards and HSBC Smart Value Credit Card.