HDFC MoneyBack Plus Credit Card Review: A Smart Choice for Everyday Spenders

If you’re on the lookout for an entry level credit card that rewards you for your everyday expenses, Then HDFC moneyback plus credit card is worth considering. For individuals who frequently shop online or prepared earning rewards on daily purchases this card offers substantial value in the form of cash points with up to 10X reward points on eligible categories. Quick EMI benefits with reward points and easy Redemption processes. In this review we have separated all that you want to know about Hdfc’s moneyback plus credit card from its standout features to fees, rewards and Who would gain the most from having it.

Features of HDFC Moneyback Plus Credit Card

The HDFC moneyback plus credit card is a rewarding choice for individuals who frequent a shop online and pay bills. The key features is stepped up rewards skim, Vito You earn 10X cash points on shopping done via smart buy especially on websites such as Amazon, Flipkart, Big Basket and Swiggy this way you over daily shopping activities become substantial savings In the long run.

For high value buyers the card provides 5X cash points for EMI purchases at partners Chosen partners stores and websites. whether it is electronics or home appliances turning them into mi is not only the convenient in terms of money but also allows you to accumulate extra reward points.

Apart from the rewards, the card provides a waiver of 1% fuel surcharge on spends between ₹400 and ₹5,000 at any fuel pump in India. You also receive benefit of access to restaurant deals exclusively through Swiggy Dineout with up to 15% savings at more than 20,000 partner restaurants across the country. The security aspects encompass zero-liability protection against lost/stolen card, providing you comfort.

HDFC MoneyBack Plus Credit Card Benefits

One of the main advantages of the HDFC MoneyBack Plus Credit Card is its potential to convert your daily expenses into useful rewards. For instance, a household that buys groceries through BigBasket weekly and orders food from Swiggy on weekends can maximize their CashPoints by using this card all the time. The accumulative savings within a period of one year can really make a difference to your overall monthly expense.

For frequent EMI buyers, like purchasing a laptop or a new phone, the 5X reward on EMIs provides a rewarding touch to the convenience of payment splitting.

Eating out too often? The card’s partnership with Swiggy Dineout can help make eating out cheaper. If you drive to work daily, the waiver of the 1% fuel surcharge can cut costs every time you fill up.

Additionally, the annual fee of the card of ₹500 is exempted if you spend more than ₹50,000 within a year. In effect, this becomes a zero-fee card for frequent users, boosting its long-term worth. The first-time card holders can also anticipate a hassle-free approval process, which makes it suitable for credit card newbies.

Rewards and Redemption Process

The HDFC MoneyBack Plus Credit Card has a straightforward but rewarding points program. You get 10X CashPoints on shopping online through HDFC SmartBuy, which includes leading platforms such as Amazon and Flipkart. For each ₹150 spent on these categories, you get 20 CashPints. Everyday spends and EMI spends at partner outlets get 5X CashPoints, and all other spends get 2 CashPoints for each ₹150.

The redemption process is simple. CashPoints can be redeemed for flights and accommodations using HDFC SmartBuy at ₹0.25 per point. You can also choose to cash out, where every point is ₹0.20, offset directly against your card bill. Points can also be traded for a vast array of products and vouchers using the HDFC Bank redemption portal.

CashPoints are redeemable for two years, and you can redeem them to pay for up to 50% of a booking amount when booking flights or hotels. This gives you the freedom to use your rewards as you like.

Example Case Study On Savings

Take, for instance, Arvind, a frequent credit card holder who spends roughly ₹1,50,000 in a year. He does most of his shopping on Amazon and Flipkart, orders food regularly from Swiggy, and makes habitual purchases both offline and online. With the HDFC MoneyBack Plus Credit Card, Arvind is able to earn more savings by availing CashPoints on such expenses.

Of his overall ₹1,50,000 expense in a year, suppose he spends ₹50,000 on Amazon, Flipkart, BigBasket, and Swiggy using HDFC SmartBuy. Another ₹30,000 for EMI shopping, and the rest of ₹70,000 is for his daily spends.

Thus, by spending ₹1.5 lakh in a year across various categories and using SmartBuy for online purchases, Arvind would earn approximately ₹1,919 worth of CashPoints in a year. He can use the points to book flights, accommodation, or as a cashback to pay towards his card bill.

Also, if Arvind spends ₹50,000 in a year, his ₹500 renewal charge will be exempted, resulting in additional savings.

Fees and Charges

• The HDFC MoneyBack Plus Credit Card is a cost-saving card. There is a joining fee of ₹500 plus GST initially, and a second-year-and-beyond renewal fee of ₹500. This renewal fee is waived off if you have spent ₹50,000 or more in the last year. The card is charged an interest of 3.6% each month, and this translates to 43.2% each year. To escape this high rate of interest, it’s best to settle your outstanding balance within time.
• For cash withdrawals, the card charges a 2.5% of the withdrawal amount or ₹500, whichever is greater. Foreign currency transactions attract a 3.5% mark-up on the transaction value. If you delay making a payment due date, late payment fees will be between ₹100 and ₹1,300 depending on the outstanding amount. There’s a redemption fee of ₹99 when redeeming CashPoints against catalog products or vouchers. However, there’s no redemption fee, when redeeming CashPoints against flight or hotel bookings on HDFC SmartBuy.

Rewards and Redemption Process

The HDFC MoneyBack Plus Credit Card has a straightforward but rewarding points program. You get 10X CashPoints on shopping online through HDFC SmartBuy, which includes leading platforms such as Amazon and Flipkart. For each ₹150 spent on these categories, you get 20 CashPints. Everyday spends and EMI spends at partner outlets get 5X CashPoints, and all other spends get 2 CashPoints for each ₹150.

The redemption process is simple. CashPoints can be redeemed for flights and accommodations using HDFC SmartBuy at ₹0.25 per point. You can also choose to cash out, where every point is ₹0.20, offset directly against your card bill. Points can also be traded for a vast array of products and vouchers using the HDFC Bank redemption portal.

CashPoints are redeemable for two years, and you can redeem them to pay for up to 50% of a booking amount when booking flights or hotels. This gives you the freedom to use your rewards as you like.

Eligiblity and Application Process

The HDFC MoneyBack Plus Credit Card can be easily applied for. The main applicant must be aged between 21 and 60 years if he/she is salaried or 65 years if self-employed. Having a stable source of income and good credit score, typically 750 an above, enhances the possibility of approval.

They must submit proof of identity (Aadhaar Card, PAN Card), residence proof (utility bills, passport), and proof of income (salary slips in case of salaried candidates or ITR in case of self-employed individuals). Indian residents and NRIs satisfying these requirements can apply.

You can apply online at the HDFC Bank website or walk into your local HDFC Bank branch for offline application. Once filed, HDFC Bank will process and approve the card in a matter of a few working days, as long as documents are ready.

HDFC MoneyBack Plus Credit Card Review

The HDFC MoneyBack Plus Credit Card is best suited for young professionals, first-time credit card holders, and frequent online shoppers. If you buy groceries on BigBasket, electronics on Amazon, or food on Swiggy on a regular basis, this card asists you in earning substantial CashPoints in the long run.

It’s also an ideal option for those who opt for EMI purchases on expensive items, given the 5X CashPoints advantage. In case your spend is more than ₹50,000 a year, the fee waiver on the renewal makes the card virtually free to possess. Foodies and frequent car drivers will also find the dining benefits and fuel surcharge waivers helpful.

In brief, this card is ideal for those who seek a straightforward, low-cost credit card that rewards them for everyday spending without complicated redemption processes.

Frequently Asked Questions (FAQs)

1. How do I maximize rewards on the HDFC MoneyBack Plus Credit Card?
   Make online transactions on Amazon, Flipkart, and BigBasket using HDFC SmartBuy to earn 10X CashPoints. Also, convert big purchases into EMIs to enjoy 5X CashPoints.
2. What is the value of CashPoint earned?
   Each CashPoint is worth ₹0.25 for flights and hotel bookings on SmartBuy, and ₹0.20 as cashback against your statement.
3. Is there a fee for redeeming CashPoints?
   There’s a ₹99 redemption fee for catalog redemptions, but no fee for flights, hotels, or cashback redemptions.
4. What is the annual fee waiver condition?
   Get a waiver of ₹500 on the renewal fee for the following year by spending ₹50,000 or more in a year.
5. Is this credit card available for NRIs?
   Yes, NRIs with the required eligibility can apply for the HDFC MoneyBack Plus Credit Card.

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