HDFC MoneyBack Plus Credit Card Review

HDFC MoneyBack Plus Credit Card Review

While searching for an entry-level credit card suitable for shopping, you may have come across the HDFC MoneyBack Plus Credit Card. Now you may be wondering whether or not to choose this credit card. HDFC Bank is undoubtedly a leading credit card issuer, offering a credit card for every spending category. The MoneyBack Plus credit card is specifically designed for day-to-day shopping and is ideal for availing discounts on dining. To help you with your decision, we have reviewed the HDFC MoneyBack Plus credit card in this article. Keep reading to 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 receive 500 CashPoints as a welcome benefit upon successful realization of the joining membership fee.
  • Reward Rate: Using this card for retail purchases entitles you to 2 CashPoints for every Rs. 150 spent. EMI transactions at selected merchants earn you 5x CashPoints, and shopping at partner brands earns you 10x CashPoints.
  • 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 at over 2,000 premium restaurants. However, this credit card does not offer any movie benefits.
  • Travel Benefits: Unfortunately, this credit card does not provide travel benefits. If you have travel requirements, consider a credit card that offers such benefits to save on your travel expenses.
  • Golf Benefits: This card does not offer any golf benefits. As an entry-level credit card, it would be unreasonable to expect such features and benefits.
  • Fuel Surcharge Waiver: You receive a 1% fuel surcharge waiver on fuel transactions at all fuel stations across India. The maximum surcharge waiver is capped at Rs. 250 per billing cycle on this credit card.
  • Insurance Benefits: Lastly, this card does not provide any insurance benefits. However, it does offer zero liability protection. You will not be held liable for any fraudulent activity after reporting the loss of your card to the bank.

Bottom Line:

In conclusion, we hope you now have an idea of what you can expect from this credit card. The finance charge on this card is 3.6% per month, and cash withdrawals from ATMs will incur a cash advance charge of 2.5% of the withdrawn amount.

Identify your needs and spending habits, and only choose this card if its features and benefits align with your requirements.

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