HDFC Biz Black Metal Edition Credit Card: Is It Good for Self-Employed Professionals?

In this blog, we shall give you the details of the HDFC Biz Black Metal Edition Credit Card and mostly about its welcome benefits, cashback rate, and others. To learn more, see below:

The HDFC Biz Black Metal Edition Credit Card is an ultra-premium business credit card targeted at self-employed professionals and business owners who have a monthly spending. It offers high-end living to the users as well as business-focused rewards. The card is a brilliant one that can be considered by high-income professionals who want to enjoy rewards, receive travel benefits, and all these under one cool metal card. This card is particularly targeted at high-net-worth people.

The card makes the normal business costs more rewarding. Be it last-minute flights, office essentials, client dinners, or even making large purchases, it silently accumulates rewards that can be used well later in life. Also, the travel benefits, such as having access to an airport lounge, make long working trips a bit less exhausting and much more relaxed.

What Are The Welcome Benefits Of HDFC Biz Black Metal Edition Credit Card?

• Benefit Welcome: Club Marriott annual membership and Taj stays voucher of 5000 will be received by the users on spending Rs Rs 1.5 Lakhs in the first 90 days. Club Marriott membership is available to users with up to 20% discounts on dining, stay and spa service in the Asia-Pacific region.

What Are The Milestone Benefits Of HDFC Biz Black Metal Edition Credit Card?

• Milestone benefit: Each Rs 5 Lakh spent by users will get a SmartBuy flight/Taj stay voucher worth Rs 5000. (All retail expenditures without rent and petrol) and will receive vouchers of Rs 20,000 in a calendar year per every AED 20 Lakhs.

  
  

What Is The Cashback Rate Of HDFC Biz Black Metal Edition Credit Card?

• Reward System: 1 point of reward = Up to Rs. 1.

• 5 per cent cashback on the business payments on Payzapp and SmartPay, Income Tax payment and Advance tax payment on eportal.incometax.gov.in, GST payment on payment.gst.gov.in, hotel and flight booking on MMT MyBiz by SmartBuy BizDeals and business productivity tools like Tally and Office 365 and AWS and Google and Credflow and Azure, etc., via SmartBuy BizDeals - Nuclei.  

• 5X Reward Points on minimum spends of INR 50,000 in a statement cycle.

• A minimum of 2500 RP is needed to redeem reward points against the statement balance. 

What are the advantages of possessing the HDFC Biz Black Metal Edition Credit Card?

• High Reward Potential: Receive up to 5X reward points on large business categories such as taxes, GST, utility bills, travel bookings and software tools.

• Premium Travel Benefits: Complimentary internet access at the airport lounge (both domestic and international) to both primary and current users.

• Free 6 golf games on a quarterly basis, including concierge reservation

• Business Centric: This is suited to those who incur expenses on taxes, utilities, software applications and business travel frequently.

  
  

What Are The Disadvantages of possession of the HDFC Biz Black Metal Edition Credit Card?

• High Annual & Joining Fee

• Diners Club Network Limitations.

• Rewards should be prompt, and they need to be costly.

Fees And Charges:

• Joining fees: INR 10,000/- plus taxes.

• Annual fees: INR 10,000/- plus taxes.

• Cash advance fees: Cash advance fee:2.5% or INR 500, whichever is greater.

• The arrears: INR 100 to 1300.

• Interest rate: Interest rate: 1.99% on a monthly basis, 23.88% on an annual basis.

Eligibility:

• Self-employed applicants: They have to be aged between 21 and 65.

• Annual ITR requirement: You have to demonstrate an ITR of INR 30 lakh or more to qualify.

  
  

What Are The Joining And Annual Fees Of the HDFC Biz Black Metal Edition Credit Card?

• Joining fee: INR 10,000 + GST (exempted on INR 1.5 lakh expenditure in 90 days)

• The annual fees are INR 10,000 + GST (on 7.5 lakh yearly expenditure, no fee is charged).

• Mark-up on foreign currency: 2% + GST (on foreign transactions)

• Reward redemption fees: INR 99 + GST per redemption

• Interest rate: ~3.6% per month (43.2% annually), if revolved.

  
  

Conclusion:

HDFC Biz Black Metal Edition Credit Card is a business credit card that is tailored to high-end self-employed professionals and businesses. It expects high reward on tax payments, travel and business expenses and is one of the highest reward rates in the market.

It also has good lifestyle benefits in the card, such as unlimited lounge privileges, golf privileges, Club Marriott, and luxury concierge privileges.

It might not be appropriate with those users who have low or sporadic expenses. To sum it up, the HDFC Biz Black Metal Edition Card is an excellent value; however, it must be smart and economically utilised.

The fact that you are rewarded virtually for everything you do, whether it is reserving flights, covering hotel bills, meeting clients or paying the bills, is one of the greatest strengths of this card. These rewards accumulate in the long term and can be redeemed for travel, shopping or any other pleasures so that your spending is much more satisfying. The free airport lounge, concierge and travel protections also make sure that your travels, business or leisure, will be a lot easier and comfortable.

If you want to know the unbiased AI score of HDFC Biz Black Metal Edition Credit Cards, read their detailed review, click here

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