HDFC Moneyback Credit Card Review

HDFC Moneyback Credit Card Review
Go digital for double the cash back

Moneyback or cashback credit card provides maximum flexibility in how you redeem your accumulated reward points. To say money back card empowers you to earn cash on your expenses! Sounds cool. HDFC Bank gives an excellent choice to the consumers with its “MoneyBack Credit Card” to earn cash backs on their expenses. The added advantage of the “MoneyBack Credit card” from HDFC Bank is its 2x reward on online shopping. So the convenience of sitting at home and shopping has got one more advantage. If your shopping bills exceed over Rs50,000/- in any calendar quarter, HDFC Bank “MoneyBack Credit Card” will rewards you with an additional Rs500/- E-Voucher. You can also save Rs 250/- per month or Rs 1800/- annually from fuel surcharge while using the credit card.

What’s good about the HDFC Bank Moneyback Credit Card

You can redeem your accumulated reward points for cashback against the outstanding amount on your Credit Card (100 points = ₹ 20).

  • Get doubly rewarded for all your online spending. 4 reward points for every Rs 150 online spend and normal 2 reward points for every Rs 150 spent. This comes to 0.50% of your online expenses and 0.25% for your all other expenses
  • 1% fuel surcharge waived off saving you further Rs 250/- per month or Rs 1800 per year
  • Additionally HDFC Bank “MoneyBack Credit Card” rewards its holders with Rs 500/- E-Vouchers if the spending crosses Rs 50,000/- in a quarter. So in effect, you can earn an additional 1% or Rs 2000/- in a year on your spending of Rs 2 lakhs
  • This cards comes with zero liability on lost card and protection against fraud with the EMV Chip technology embedded in the card
Fee and Charges

· MoneyBack Credit card from HDFC Bank comes with free first-year fee and renewal fee from 2nd year onwards is Rs 500/- which is waived off if the spending is over Rs 50000/- during the year · Interest-free period on the credit card balances is up to 50 days. Outstanding balances carried beyond free credit period is charges at the APR of 41.88% annual or 3.49% monthly · This card offers cash against available balance in the card. The cash usage charges are 2.50% of the withdrawal amount or Rs 500/- whichever is higher

The bottom line

The “MoneyBack Credit Card” offered by HDFC Bank is designed to reward the consumers looking for the convenience of online shopping. The ease of converting reward points into cash to settle outstanding credit card balance is another excuse to opt for this credit card. By using smartly consumers can save good money on their regular spends including additional Rs 500 per quarter. You can add your family members with free add on cards and consolidate all your expenses at a single place. The smartest way to use the card is to pay all the daily spending through the card, make timely payment, and never roll over the balance to the next bill to avoid exorbitant charges.