Best Credit Card of HDFC in 2024
As the credit card industry booms and benefits and privileges are offered with every swipe, HDFC Bank has distinguished itself as a leader in meeting the needs of a wide range of customers. As 2024 approaches, HDFC Bank is carrying on its tradition of innovation and customer-focused approach by introducing the HDFC Swiggy Credit Card. This credit card entices the senses and tantalizes the palate.
The HDFC Swiggy Credit Card is the perfect partner for people who love to dine in or who simply cannot get enough of the ease of ordering food. Designed to accommodate the changing needs of contemporary consumers, this card combines the ease of use of digital transactions with a slew of exclusive features reserved for foodies.
We explore the special features, unrivaled benefits, and the unrivaled value that the HDFC Swiggy Credit Card offers to cardholders in 2024 as we delve into the details of this blog post. Come along as we explore the gastronomic adventure that lies ahead with HDFC Bank's newest offering, which is sure to take your dining experiences to new levels.
Features and Benefits
In the realm of co-branded credit cards, the HDFC Swiggy Credit Card stands out as a significant collaboration between HDFC Bank and the food delivery giant Swiggy. This card is designed to cater to the needs of food enthusiasts who frequently use Swiggy's services. Here's a comprehensive look at what the HDFC Swiggy Credit Card offers, its benefits, and potential drawbacks.
Cashback Offers
10% Cashback on Swiggy: Cardholders can enjoy a 10% cashback on orders placed through the Swiggy app, including food ordering, Instamart, Dineout, and Genie services.
5% Cashback on Online Spends: A 5% cashback is available for online spends across various online Merchant Category Codes (MCCs), which includes a wide range of e-commerce platforms.
1% Cashback on Other Categories: For all other purchases, there is a 1% cashback, with certain exclusions and capping in place.
Additional Features
Complimentary Swiggy One Membership: New cardholders receive a complimentary Swiggy One membership for three months upon card activation, which offers benefits like free delivery and exclusive discounts.
Zero Lost Card Liability: In case the card is lost, reporting it immediately to HDFC's 24-hour call center ensures zero liability on fraudulent transactions.
Interest-Free Credit Period: The card provides up to 50 days of interest-free credit from the date of purchase, subject to the submission of the charge by the merchant.
Revolving Credit: Cardholders have the option of revolving credit at a nominal interest rate.
Welcome Benefit
Upon activation of the card, users are eligible for a welcome benefit, which includes the complimentary Swiggy One membership.
Drawbacks
Cashback Limitations: There's a monthly cashback cap earned in each category. You can only earn up to Rs. 1500 per month on Swiggy spends, Rs. 1500 on online spending, and Rs. 500 on other transactions. So, exceeding a certain spending limit won't get you more rewards.
Expiry: Cashback earned is credited as Swiggy Money, which expires in 1 year. This limits your flexibility and forces you to spend it on Swiggy within that timeframe.
Limited Redemptions: You can only redeem your cashback as Swiggy Money, restricting its use to the Swiggy platform. There are no options to convert it to cash or credit towards your bill.
Joining Fee & Fee Waiver: The card has a joining fee of Rs. 500 + GST. While the fee is waived off if you spend a significant amount (Rs. 2,00,000 annually) on the card, it might not be feasible for everyone.
Other Drawbacks:
No Lounge Access: Unlike some premium cards, the HDFC Swiggy Credit Card doesn't offer any domestic or international airport lounge access.
Foreign Currency Markup: The foreign currency markup fee, at 3.5%, is quite high. Using this card for international transactions can be expensive.
Exclusions: Cashback is not offered on transactions like fuel, rent, EMI payments, wallet loads, jewelry, and government payments.
Application Procedure
Here's a detailed walkthrough of the application process for this card, designed to enhance your dining and food ordering experiences.
Step 1: Eligibility Check
Before you embark on the application journey, it's crucial to ensure that you meet the eligibility criteria set forth by HDFC Bank. The bank typically requires applicants to have a stable source of income and a good credit history. It's advisable to visit the HDFC Bank website or contact their customer service to understand the specific requirements.
Step 2: Application Submission
Once you've confirmed your eligibility, the next step is to apply. You can do this online through the HDFC Bank website, where you'll find the Swiggy HDFC Bank Credit Card under the credit card section. Click on the "Apply Now" button to proceed. Alternatively, you can apply directly via the Swiggy app, which offers a seamless application experience.
Step 3: Personal Details
The application form will prompt you to enter personal details such as your name, email address, and contact number. It's essential to provide accurate information to avoid any delays or issues in the approval process.
Step 4: Documentation
HDFC Bank may require you to submit certain documents to verify your identity, address, and income. This could include government-issued ID proofs, utility bills, salary slips, and more. Ensure that you have all the necessary documents ready for a smooth application process.
Step 5: Review and Submit
Before submitting your application, review all the details and documents for accuracy. Once you're certain everything is in order, submit your application. HDFC Bank will then process your application and conduct a credit evaluation.
Step 6: Approval and Card Activation
If your application is approved, you will receive your HDFC Swiggy Credit Card by mail. To activate the card, you can make a transaction using the credit card, set the PIN, and enable card controls such as online and international transactions. Upon activation, you'll also be eligible for a complimentary Swiggy One Membership for three months, which you can claim on the Swiggy app within 2-3 days of card activation.
Conclusion
In conclusion, the HDFC Swiggy Credit Card stands out in 2024 as a stellar financial tool for savvy spenders. Tailored to maximize rewards on dining and food delivery, it reflects HDFC's commitment to adapting to consumer trends and preferences. The card's competitive cashback rates, coupled with exclusive Swiggy benefits, make it a top contender for anyone looking to optimize their credit card usage for food-related expenses. As we navigate the ever-evolving landscape of personal finance, the HDFC Swiggy Credit Card is a prime example of a product that aligns with modern spending habits, offering tangible value that goes beyond mere convenience. It is a testament to HDFC's innovative approach to banking and its dedication to delivering products that resonate with the needs of today's consumers. Whether you're a food enthusiast or simply seeking to get the most out of every transaction, the HDFC Swiggy Credit Card is a choice worth considering.
FAQs
Q: What is the Swiggy HDFC Bank Credit Card?
The Swiggy HDFC Bank Credit Card is a best-in-class product that offers accelerated benefits on Swiggy App transactions and online shopping. Additionally, you can earn cashback on all other offline spends. As a welcome benefit, you’ll receive a Swiggy One Membership for 3 months. This card is designed specifically for Swiggy users and those who love online shopping, offered in partnership with HDFC Bank.
Q: What customer value does the Swiggy HDFC Bank Credit Card provide?
With this card, customers can save up to Rs. 42,000 annually and even more. Here’s a breakdown of the value:
10% Cashback on Swiggy Food Ordering: Up to Rs. 18,000 annually.
5% Cashback on E-Shopping Spends: Up to Rs. 18,000 annually.
1% Cashback on All Other Categories: Up to Rs. 6,000 annually.
Swiggy One Membership (3 months): Avg. savings of Rs. 2,100 for 3 months.
Q: What are the key benefits of the Swiggy HDFC Bank Credit Card?
10% Cashback on Swiggy App Transactions: Up to Rs. 1,500 per billing cycle (excluding Swiggy Money Wallet, Swiggy Liquor, and Swiggy Minis).
5% Cashback on Various Online Categories: Apparels, Electronics, Dept. Stores, Personal Care, Local Cabs, Home Décor, Pet Stores, Pharmacies, Discount Stores, and Entertainment.
1% Cashback on Other Categories: Except Fuel, Rent, EMI, Wallet, Jewelry, and Govt. related spends.
Q: What is the welcome benefit on the Swiggy HDFC Bank Credit Card?
Upon activation, you’ll receive a Swiggy One Membership for 3 months. This membership provides additional savings on Swiggy usage.
Q: Which transactions won’t earn cashback with the Swiggy HDFC Bank Credit Card?
Cashback will not be accrued for the following transactions:
Wallet
Rent
Government-related transactions
Fuel
Jewelry
Insurance
EMI (all types)
Cash advances, purchase of travelers’ cheques, purchase of foreign currency, interest charges, penalties, and other categories as decided from time to time (applicable on offline spends).
Q: How much cashback can I earn on Swiggy App transactions?
You can earn 10% cashback on Swiggy App transactions, up to Rs. 1,500 per billing cycle. Note that certain exclusions apply.
Q: What online categories qualify for cashback?
Enjoy 5% cashback on various online categories, including:
Apparels
Electronics
Department Stores
Personal Care
Local Cabs
Home Décor
Pet Stores and Supplies
Pharmacies
Discount Stores
Entertainment.
Q: Is there cashback on other spending categories?
Yes, you’ll receive 1% cashback on other categories (except Fuel, Rent, EMI, Wallet, Jewelry, and Govt. related spending), up to Rs. 500 per billing cycle.
Q: How much can I save annually with the Swiggy HDFC Bank Credit Card?
The estimated annual savings with this card is Rs. 42,000, based on typical HDFC Bank Credit Card customer spending. Actual savings may vary for each customer.
Q: Where can I apply for the Swiggy HDFC Bank Credit Card?
You can apply for the Swiggy HDFC Bank Credit Card directly through HDFC Bank’s website or other authorized channels.