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MoneyBack Credit Card

Product Details
Credit Card Name : 

MoneyBack Credit Card

Bank Name :

HDFC Bank

Type :

Lifestyle Credit Card

Interest Rate : 

3.6% per month (43.2% per annum)

Eligibility :

For Salaried Indian national
Age: Min 21 yrs & Max 60 Yrs,
Gross Monthly Income> ₹25,000

For Self Employed Indian national
Age: Min 21 yrs & Max 65 Yrs,
Income: ITR > ₹6.0 Lakhs per annum
​​​

MoneyBack Credit Card
Pros
  • Earn 2 Reward Points on every Rs 150 spent 

  • Earn 2X Reward Points i.e. 4 Reward Points on every Rs. 150 spent online* 

  • Every quarter, get a gift voucher worth Rs. 500 on spends of Rs 50,000. Earn up to Rs. 2,000 worth gift vouchers in a year. 

  • Zero Card Lost Liability. 

  • Revolving credit facility available.  

  • Exclusive dining privileges available like-  Get up to 20 % savings off on all your restaurant bill payments via Swiggy Dineout (20k + restaurants) 

  • Fuel Surcharge waiver benefit available. 

  • Customers also get a welcome benefit of 500 Cash Points Smart EMI options also available.

Cons

Lower cashback rate:

  • Compared to other cashback cards in the market, the cashback rate offered by HDFC MoneyBack is relatively lower.

  • Fuel transactions are not eligible for earning rewards, which can be a significant drawback for frequent fuel users.

Limited rewards redemption options:

  • While the card offers cashback as a redemption option, it lacks flexibility in terms of other reward options.

  • Some users might prefer cards with more diverse reward redemption options, such as travel miles or gift cards to specific retailers.

Pros & Cons
Welcome Benefits

500 Cash Points (applicable only on payment of membership fee)

Rewards System
  • Get 2 Reward Points on every Rs 150 spent. 

  • Get 2X Reward Points i.e. 4 Reward Points on every Rs. 150 spent online 

  • 1 RewardPoint = ₹0.20 

  • Effective Cashback Rate= 0.4% Online Cashback Rate 0.8%

International Forex Markup
  • Bank Charges Cross currency markup of 3.5%

Welcome Benefits and Reward System
Special Features
  • Every quarter, get a gift voucher worth Rs. 500 on spends of Rs 50,000. 

  • Earn up to Rs. 2,000 worth gift vouchers in a year.

Eligibility Criteria

For Salaried Indian national
Age: Min 21 yrs & Max 60 Yrs,
Gross Monthly Income> ₹25,000

For Self Employed Indian national
Age: Min 21 yrs & Max 65 Yrs,
Income: ITR > ₹6.0 Lakhs per annum
​​​

Benefits

Cashback:

  • Earn 2 reward points for every Rs.150 spent, which can be redeemed for cashback or other rewards.

  • Double rewards (4 reward points) on all online purchases.

  • Cashback can be redeemed directly into your bank account, making it easy to access.

No annual fee:

  • The card has no annual fee, making it a good option for those who want to avoid recurring charges.

Other benefits:

  • Lost card liability cover protects you from fraudulent transactions after reporting the loss.

  • Fuel surcharge waiver on fuel transactions up to Rs.500 per month.

  • Access to exclusive deals and discounts on various products and services.

  • Reward points can be redeemed for a variety of rewards, including Amazon gift vouchers, flight tickets, and movie tickets.

Speical Feature, Eligibility and Benefits
How to apply for Credit Card?
  • Go to the HDFC Bank website and click on the "Credit Cards" tab. 

  • Click on the "MoneyBack Credit Card" link. 

  • Click on the "Apply Now" button. 

  • Fill out the application form and submit it. 

  • Here are the documents that you need to submit along with your application form:  

  • Proof of identity (e.g., passport, driving license, PAN card) Proof of address (e.g., bank statement, utility bill) Proof of income (e.g., salary slip, tax return) 

  • The processing time for the application is usually 7-10 working days. 

  • Once your application is approved, you will receive the card in the mail within 15-20 working days.

Contact Details

1800 202 6161 or 1860 267 6161,
send an SMS to 730 8080 808,
or even use WhatsApp to send a message to 707 0022 222.

Account Opening and Procedure
HDFC Bank MoneyBack Credit Card

If you are new to credit and want to get started, you can apply for this credit card. In comparison to the annual cost, the perks provided by this credit card are fairly excellent.

Abhijeet Saxena

Abhijeet Saxena

Abhijeet Saxena

Nalsar University of Law

Ex- Senior Associate, Shardul Amarchand Mangaldas, Delhi

Ex - Khaitan & Co. Bengaluru,

Ex - National Stock Exchange, Mumbai,

Ex - Argus Partners, Mumbai

Product Review
Fees & Charges
  • Joining/Renewal Membership Fee – Rs. 500/- + Applicable Taxes.  

  • Cash advance fee: 2.5%, with a minimum of ₹ 500. 

  • Interest Rates: 3.60% p.m. 43.20% p.a.  

  • Late Payment Charges: Less than ₹100 = Nil ₹100 to ₹500 = ₹100/- ₹501 to ₹5,000 = ₹500/- ₹5,001 to ₹10,000 = ₹600/- ₹10,001 to ₹25,000 = ₹800/- ₹25,001 to ₹50,000 = ₹1100/- More than ₹50,000 = ₹1300/- 

  • Foreign Currency Transactions Fees: 3.5%.   

  • Reward Redemption Fees: Rs. 99/-

Fuel Surcharge
  • 1% Fuel Surcharge waiver on fuel transactions (Minimum transaction of ₹400, Maximum transaction of ₹5,000 & Maximum waiver of ₹250 per statement cycle)

Billing Cycle

30 Days

Fees & Charges
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