Review: HDFC Bank Biz First Credit Card -
- Abhijeet Saxena
- Sep 10, 2024
- 3 min read
Updated: 3 days ago
HDFC Bank has, in the recent past, launched a number of Rupay credit cards. HDFC Bank Biz First Credit Card is one such credit card that is on the Rupay network instead of being associated with Master Card or Visa. Let's delve into a comprehensive review to uncover the features, benefits, drawbacks, eligibility criteria, fees, and charges associated with this card.
Features and Benefits of HDFC Bank Biz First Credit Card -
Reward System
The card comes with a below-par cashback rate, which we have expounded on in the cashback system below:
3 per cent cash points on EMI purchases, up to 1,000 cash points/month.Effective cashback rate: 0.45 per cent.
Utility bills, electronics, Payzapp and SmartPay transactions charge 2 per cent cash points, and a limit of 500 cash points/calendar month.
Effective cashback rate: 0.3%.
Optimum 500 cash points/calendar month on 1% cash points on all other spends, including UPI spends. Effective cashback rate: 0.15%.
Insurance Coverage
The credit card holders will be given an opportunity to take the business insurance at a reduced premium of INR 3,785 per year.
Welcome Benefits
The credit card holders will receive a gift voucher of 250 on completing their first transaction within the first 37 days of card issuance. The gift voucher can be redeemed on the leading brands such as Amazon, Swiggy and others.
Milestone Benefits
Individuals will receive 2000 cash points each quarter when spending INR 75,000 and above each quarter ( All retail spending excluding rent and petrol).
UPI Benefits
The credit card can also be connected with any UPI application and subsequently, UPI payments can be conducted via the card.
Dining Benefits
Swiggy App Swiggy Dineout will allow its users to enjoy up to 20% discount on all restaurant bill payments.
Cons:
The card has various cons, including:
One can earn up to 15,000 cash points within a statement cycle.
The cash points require a minimum of 2500 cash points to redeem.
Unredeemed cash points will expire after 2 years of accumulation.
No airport lounge access.
Eligibility:
In order to qualify as the HDFC Bank Biz First Credit Card, a person must have the following:
The candidate has to be a self-employed Indian citizen.
The candidate should be between 21 and 65 Yrs. old.
Annual ITR above Rs 6 Lakhs
Fees and Charges:
Following fee and charges are associated with the credit card:
Joining fee: INR 500/- plus taxes.
Annual fee: INR 500/- plus taxes.
Foreign currency markup: 3.50%.
Fuel surcharge: 1% subject to a minimum transaction of INR 400 and a maximum transaction of INR 5000.
Cash advance fee: 2.5% or INR 500, whichever is higher.
Late payment charges: INR 100 to 1300.
Reward redemption fee: INR 99 per redemption request.
Interest rate: 3.75% monthly, 45.0% annually.
Conclusion:
Conclusively, HDFC Bank Biz First Credit Card is a mediocre business credit card. Some of the features that can be regarded as standard are absent, like free visits to the airport lounge and free movie tickets. The cashback rate is even lower than average.
You can read our rating of the card and a more detailed review here.
Always, it is always important to carry out extensive research and evaluate your business needs before settling on the credit card that supports your financial objectives.
Download the MyRupaya App
Compare, choose, and discover all the best offers on credit cards in India — all in one place