Author: Megha Khanna
Initially, I started using the Millennia Credit Card to understand how a credit card functions, and thought of switching to a ‘better’ card with time.
However, to my surprise, after using this card for almost two years now, I don’t feel the need to upgrade or switch to another card. What I like the most is that it fits well with my spending patterns, as most of my transactions are on Uber, Zomato, and Myntra.
|HDFC Millennia Credit Card Overall Rating: ★★★
|Cashback on popular brands||Cashback on other spends||Lounge access||Other benefits|
High Cash Back on Top Online Brands
If you are a millennial, this card will most likely fit with your spending patterns, just like it fits with mine. This card offers 5% cashback on popular everyday brands, such as Amazon, BookMyShow, Cult.fit, Flipkart, Myntra, Sony LIV, Swiggy, Tata CLiQ, Uber, and Zomato. The best part is that there is no minimum transaction value requirement for earning the 5% cashback benefit. Additionally, while most cards do not offer any reward benefit on EMI purchases and wallet reloads, this credit card offers 1% cash back on such transactions as well. This is a very rare benefit offered and is an added feather to the card’s satisfactory features.
The maximum cashpoint limit is as follows:
- 5% cashback on popular everyday brands: 1,000 cash points per statement cycle
- 1% cashback on all other spends, including EMI & Wallet transactions: 1,000 cash points per statement cycle
If you are planning to apply for this credit card, you must note that this is a cashback credit card, that offers cash points instead of direct cashback. The cashback is offered via Cash Points, which functions the same as rewards points offered on a rewards credit card. For instance, if you spend on the following categories, you will earn cash points as follows:
|Spending Category||Cashback Category||Amount||Cash Points Earned|
|10 Online Merchants||5% cashback||Rs. 15,000||750 Cash points|
|Other Spends||1% cashback*||Rs. 10,000||180 Cash points|
|EMI Purchases||Rs. 8,000|
*Note that 1% cashback on EMI & wallet reloads are offered collectively with the ‘other spends’ category.
The highest cash back rate on most cashback credit cards is 5%, but most of these restrict this accelerated earning to certain brands/categories. HDFC Millennia is also based on a similar model. However, one card that offers similar value without any such restrictions is Cashback SBI Credit Card.
Still Millennia is a preferred choice for me, since the 10 associated brands are the ones I spend the most at, thereby the merchant restrictions hardly make a difference. For you, it could be different, if your preferred brands are not fixed, but you still spend a lot online. For other spends, the 1% cashback category serves the same purpose. However, the monthly capping limit is much more relaxed in the case of Cashback SBI, in comparison to HDFC Millennia. If you are a new user, you can apply accordingly.
Transactions not eligible for cash points on HDFC Millennia Credit Card
Recent Updates for Rent payment via HDFC Millennia Credit Card
Before 1st January 2023, I could earn rewards on my rent payments as well. Earlier the 1% cashback category was inclusive of rent payments, wallet reloads, and EMIs. However, the maximum capping for earning rewards in the 1% category stays the same at 1,000 cash points, per statement cycle.
To maximize the 1% cashback benefits, I usually pay my utility bills by adding money from my credit card to my Paytm wallet. You can also consider getting an Axis Ace Credit Card, if you spend a lot on bill payments, and specifically through Google Pay. Since my bill payment is limited, and I prefer Paytm over Google Pay, Millennia serves the purpose right for me.
Multiple Redemption Options
Apart from a good value back, what else keeps me glued to using this card is the choice of multiple redemption options. The cash points earned can be redeemed against statement balance, hotel and flight bookings at the Unified SmartBuy portal, product catalog, and as air miles. The redemption value is as follows:
|Category||1 cash point equals to|
|Cash Back (statement balance)||Rs. 1|
|Unified SmartBuy (Flight/Hotels Bookings)||Re. 0.30|
|Product Catalog||Up to Re. 0.30|
|Airmiles||0.30 air miles|