|HDFC MoneyBack Credit Card Rating|
Annual Fee ★★★★
Travel Benefits ★
Offers & Discounts ★★★
|Overall Rating ★★★|
HDFC MoneyBack Credit Card is one of the best cashback credit cards available in the market. At an annual fee of Rs. 500, the benefits offered on this card are quite satisfactory. Also, since HDFC Bank offers this card to customers who do not have a credit history, it happens to be the first credit card for a lot of people who are new to credit. Here is a detailed review of HDFC MoneyBack credit card.
Key Highlights of HDFC MoneyBack Credit Card
Simple Rewards Program
The best feature of HDFC MoneyBack Credit Card is that its rewards program is not at all complicated and suits everyone’s needs. Earnings are not divided into too many categories. Here is how you will earn rewards on this card:
- Earn 2 reward points for every Rs. 150 spent across all categories
- Earn 4 reward points per Rs. 150 for online transactions
There are no conditions on the type of online transactions- you may order food online or make purchases on an online shopping website or even pay your utility bills, all online transactions will give you twice as many rewards. Remember that fuel transactions, cash advance, fees and other charges do not earn reward points.
Welcome Bonus & Milestone Benefits
HDFC Moneyback Credit Card gives its users 500 Cash Points (applicable only on payment of membership fee).
- On spending Rs.20000 & above in the first 90 days, they will get the first-year membership fee waived off
- Spend Rs.50,000 and above in each calendar quarter and get Rs.500 worth of gift vouchers
- Spend Rs.50,000 and above in the first year and get the renewal membership fee waived off
Convert Rewards into Cashback
This feature makes the rewards program of HDFC MoneyBack credit card even simpler. You do not have to browse through the HDFC credit card rewards catalogue. Instead, you can simply convert the accumulated points into direct statement credit.
100 Reward Points = Rs. 20
So, if you have 5,000 reward points in your credit card account, you can convert it into a cashback of Rs. 1,000. You can easily avail this facility through their online reward redemption system or by calling the HDFC credit card customer care. It usually takes 10 days for cashback to be credited into your credit card account and it will reflect in the next statement.
Remember that the points will be converted into cashback only in multiples of 500 which means you must have 500 points in your card to avail this facility.