In the recent past, HDFC has introduced several UPI credit cards HDFC k UPI Rupay Biz Credit Card is a credit card introduced as a Rupay network acceptable in the whole of india. Its USP lies in tIndiahe fact that the card can be connected to any UPI app in the phone of the credit card holder, and then it is possible to pay using QR or any other application.
Pros of HDFC Bank UPI RuPay Biz Credit Card
Smooth UPI Integration: This card has the benefit of a smooth UPI integration with the ease of quick and hassle-free transactions.
Reward system: 3 cash points on the groceries, supermarket and dining spends and PayZapp transactions, 500 points limit per month. 1 cash point is equal to INR 0.25. Good cashback rate: 0.75%. 2 cash points on utility spending, up to 500 points per month. It offers an effective cashback rate at 0.50%. 1 per cent cash points on other spends (except rent, wallet loads, EMI, fuel and education category) with a maximum of 500 points per month. Effective cashback rate: 0.25%.
Improved Control: Any business will be in a good position to set transaction limits and monitor expenses in an effective manner.
Waiver: The users may waive their annual membership charge by investing INR 25,000 or more in a year.
Cons:
Limited Acceptance: Being a Rupay card, it might be the one that will not be readily accepted as compared to international card networks in certain situations.
Capping: There is a limit on the amount of cashback redemption to 50,000 reward points per passing calendar month.
Minimal benefits: No dining and lounge benefits.
Fees: Although the fees are good, businesses should be careful of the fees that may be incurred, which can affect their bottom line.
Fees and Eligibility:
Having a nominal annual charge, the HDFC Bank UPI Rupay Biz Credit Card is a solution that can be affordable to several companies. The important charges of HDFC are as follows:
Joining fee: INR 250 plus taxes.
Annual fee: INR 250 plus taxes. The renewal fee is waived upon spending INR. 25,000 within a year.
Foreign currency markup: 3.50%
Fuel surcharge: NA
Cash advance fee: 2.5% or INR 500, whichever is higher.
Late payment charges: INR 100 to 1300.
Interest rate: 3.75% monthly, 45.0% annually.
Eligibility: The HDFC website has not given the eligibility of the card. It appears that this credit card can be applied for by all Indian adults who have a stable income.
In Conclusion:
To professionals who need an effective financial application that would streamline their business transactions and costs, the HDFC Bank UPI Ruay Biz Credit Card would be an attractive option, particularly with UPI functionality. Having a perfect integration, excellent security system and appealing cashback rates, this card may be an excellent device to manage financial activities.
It is, however, significant that this card will not satisfy people seeking value-added benefits. The card lacks movie benefits, airport lounge benefits and dining benefits.
You can read more about this card here: https://www.myrupaya.in/credit-card-products/hdfc-bank-upi-rupay-biz-credit-card
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