HDFC Bank Launches Virtual-only UPI RuPay Credit Card: Check Features, Eligibility
HDFC Bank, one of India’s leading private sector banks, has launched a virtual-only UPI RuPay credit card. The card is designed to offer customers a new world of “credit + convenience” by enabling UPI payments and allowing users to earn reward points for UPI purchases made using the credit card.
Link: HDFC Bank UPI RuPay Credit Card
Contents
Features and Benefits
The new HDFC Bank UPI RuPay credit card comes with several key features that are designed to offer maximum convenience to users. Cardholders will receive 3% cashpoints on groceries, supermarkets, and dining spends, as well as all PayZapp transactions, with a maximum of 500 points available in a calendar month. Users will also receive 2% cashpoints on utility spends and 1% cashpoints on other spends, with a maximum of 500 points available in a calendar month, excluding rent, wallet loads, EMI, fuel, and government categories.
Cardholders can also link their HDFC Bank RuPay UPI credit card in select UPI apps like BHIM, Paytm, and MobiKwik, allowing them to earn reward points for UPI purchases made using the credit card. Users can avail up to 50 days of interest-free credit period on the HDFC Bank UPI RuPay credit card from the date of purchase, subject to the submission of the charge by the merchant. Additionally, revolving credit is available on the card at a nominal interest rate.
Fees and Charges
The joining/renewal membership fee for the HDFC Bank UPI RuPay credit card is ₹250 plus applicable taxes. If a cardholder spends ₹25,000 or more in an annual year before the renewal date, they can get their renewal fee waived off from the second year onwards.
If the card remains inactive and is not used for any transaction for six continuous months after prior written notice sent on the email address and/or phone number and/or communication address registered in the records of the bank, HDFC Bank reserves the right to cancel the card.
Renewal Offer
HDFC Bank is also offering a renewal offer on the new virtual-only UPI RuPay credit card. Cardholders can get the renewal membership fee waived off by spending INR 50,000 or more in an annual year.
Reward Point/ Cashback Redemption & Validity
The cashpoints earned on the HDFC Bank UPI RuPay credit card can be redeemed against the statement balance at the rate of 1 cashpoint = INR 0.25. Cashpoints can be redeemed via net banking login, phone banking, or physical redemption form. Cardholders can also use cashpoints for redemption against travel benefits like flight and hotel bookings and on the rewards catalogue at the SmartBuy rewards portal, where credit card members can redeem up to a maximum of 50% of the booking value through cashpoints at a value of 1 cashpoint = INR 0.25.
Effective January 1, 2023, reward points redemption for flights and hotel bookings is capped at 50,000 per calendar month. Effective February 1, 2023, reward points redemption for cashback is capped at 50,000 rewards points per calendar month. Cardmembers can also redeem up to 70% of the product/voucher value through reward points on select vouchers/products and pay the remaining amount via the credit card.
For redemption against the statement balance, the cardholder must have a minimum of cashpoints equivalent to INR 500. Cashpoints earned on the HDFC Bank UPI RuPay credit card are valid for only 2 years from the date of the transaction.
Eligibility
The HDFC Bank UPI RuPay credit card is available to all HDFC Bank customers who are eligible for a credit card.
Digital Convenience
As a virtual-only card, the HDFC Bank UPI RuPay credit card is issued without a physical card. Customers can view their card details in MyCards, which is auto-registered in HDFC Bank MyCards. Cardholders can also access their card member agreement, most important terms and conditions, and other important documents pertaining to their credit card digitally.
