HDFC Millenia Credit Card - Best Card For Middle Class Millenials? True or False? - Unbiased Review

HDFC has launched a number of unique credit cards in India such as the HDFC Swiggy Credit Card launched by HDFC in 2024. HDFC Millenia is another unique credit card from HDFC's stable. HDFC claims that the Millenia Credit Card from HDFC Bank stands out for its compelling features tailored for young professionals. This review examines the key pros and cons of the Millenia Credit Card, offering insights to aid potential users in their decision-making process.

Overview of the Millenia Credit Card

HDFC Bank's Millenia Credit Card targets millennials and working professionals, aiming to meet their unique needs. The card is rich with features such as rewards for online shopping and dining benefits, making it an appealing option for those who frequently engage with digital platforms and enjoy exploring restaurant offerings.

Benefits of the Millenia Credit Card

Reward Points Structure

• The card comes with 5% Cashback on Amazon, BookMyShow, Cult.fit, Flipkart, Myntra, Sony LIV, Swiggy, Tata CLiQ, Uber and Zomato (Max cashback INR 1000 per month).

• 1% cashback on all other spends (except Fuel) including EMI & Wallet transactions (Max cashback INR 1000 per month).

• Upto 20% discount on partner restaurants via Swiggy Dineout.

Welcome Benefits

• A standout feature of this card is its welcome benefits. Creditcard holders will get a gift voucher equivalent to the joining fee.  This immediate boost encourages users to start using their card right away, maximizing their rewards from the outset.

Milestone Benefits

• Creditcard holders will receive INR 1,000 worth of gift vouchers on spends of INR 1,00,000 and above in each calendar quarter. Customers can either claim the gift voucher or claim a free domestic lounge visit. 

Dining Benefits

• The card provides impressive dining discounts at select restaurants, often ranging from 10% to 20% off the total bill, if the payment is made through the Dineout feature of the Swiggy app.

Cons of the Millenia Credit Card

• Low general cashback rate.

• Limited value add benefits. 

• No free lounge visits unless you meet INR 1 lakh milestone in a quarter.

• No free movie tickets. 

Fees and Charges

Understanding the fees and charges linked to the Millenia Credit Card is essential for potential users. Here are several significant costs to consider:

• Joining/Renewal Membership Fee – ₹1,000/- (Spend ₹1,00,000 or more in a year, before your Credit Card renewal date and get your renewal fee waived off ). 

• Foreign Currency Transactions % Of transaction value: 2%. 

• Reissue of Lost, Stolen or Damaged Card: ₹100. 

• Outstation Cheque Processing Charge: For Cheque value upto ₹5,000 - ₹25 and for above ₹5,000 - ₹50. 

• Add-on Card Fee: Lifetime Free. 

• Late Payment Charges: Less than Rs. 100 – Nil Rs. 100 to Rs. 500 – Rs. 100 Rs. 501 to Rs. 5,000 – Rs. 500 Rs. 5,001 to Rs. 10,000 – Rs. 600 Rs. 10,001 to Rs. 25,000 – Rs. 800 Rs. 25,000 to Rs. 50,000 – Rs. 1,100 Above Rs. 50,000 – Rs. 1,300.

Eligibility Criteria

To apply for the Millenia Credit Card, there are specific eligibility criteria:

Minimum Age Requirement

Applicants must typically be at least 21 years old to qualify. This aligns with the bank's focus on young, working professionals.

Income Criteria

HDFC Bank requires applicants to demonstrate a minimum income level of INR 6 Lkah per annum through ITR.

Employment Status

Individuals must be either salaried or self-employed, as HDFC Bank mandates a stable income source to ensure credit responsibility.

Credit Score

A good credit score increases the likelihood of approval. However, HDFC does not specify the minimum Cibil score.

Final Thoughts

The Millenia Credit Card from HDFC Bank packs a variety of benefits that cater to modern-day young users, especially millennials. The 5% cashback it offers on youth-related spends is especially attractive for millennials. Overall it is a good credit card for freshers and youth in general. The card may not be appealing for those individuals who are in the upper-income bracket, because of the limited perks its offers, no free lounge visits, no free movie tickets.

However, potential users should carefully weigh the benefits against associated fees, interest rates, and eligibility requirements. By considering these factors, individuals can make a well-informed decision about whether the Millenia Credit Card aligns with their financial needs and lifestyle.

If you want to read a more detailed review of this card and find out its AI-powered unbiased rating click here.