While looking for an entry-level credit card that is ideal for shopping, you must have come across the HDFC MoneyBack Plus Credit Card. Now you must be wondering whether to take this credit card or not. HDFC Bank is no doubt a leading credit card issuer and you can find a credit card for each spending category. It has designed credit cards by keeping the needs of the general public in its mind. This MoneyBack Plus credit card is specifically designed to meet the day-to-day shopping and is ideal for availing discounts on dining. To help you with your confusion we have reviewed the HDFC MoneyBack Plus credit card in this article. Keep reading to kick start your research.
Joining Fee: Rs. 500 plus applicable taxes
Renewal Fee: Rs. 500 plus applicable taxes
Spend Based Waiver: The renewal fee will be waived off on spending Rs. 50,000 in the previous year.
Features and Benefits:
- Welcome Benefits: With the HDFC Bank MoneyBack Plus credit card you get 500 CashPoints as a welcome benefit on the successful realization of the joining membership fee.
- Reward Rate: Using this card for retail purchases entitles you to 2 CashPoints on every Rs. 150 spent, for EMI transactions at selected transactions lets you earn 5x CashPoints, and you get 10x CashPoints on shopping at partner brands.
- Reward Redemption: You can redeem your CashPoints for cashback, purchasing products, or booking flights/hotels via SmartBuy and partner Airlines’ AirMiles. 1 CashPoint is equivalent to Re. 0.25.
- Movies & Dining Benefits: You can save up to 15% on dining bills across more than 2,000 premium restaurants. Whereas, you do not get any movie benefits with this credit card.
- Travel Benefits: Unfortunately, you do not get to experience the travel benefits with this credit card. If you have travel requirements then look for a credit card that offers travel benefits so that you can save on that spending.
- Golf Benefits: No, you do not get any golf benefits as well on this card. Since it is an entry-level credit card and expecting this kind of benefits and features would be unjustified.
- Fuel Surcharge Waiver: At all fuel stations across India you get a 1% fuel surcharge waiver on fuel transactions. The maximum surcharge waiver is capped at Rs. 250 per billing cycle on this credit card.
- Insurance Benefits: Last but not the least, you do not get any insurance benefits on this card. However, you get zero liability protection with this card. You won’t be liable for any fraudulent activity post report the loss of card to the bank.
Bottom Line:
To conclude, we hope that you must have gotten an idea about what will you get with this credit card. The finance charge on this card is 3.6% per month and withdrawing the cash from ATMs will attract a cash advance charge of 2.5% of the withdrawn amount.
Identify your needs and spending habits and then only go for this card if your needs are in line with this card’s features and benefits.