Revealing the Features of HDFC MoneyBack+ Credit Card with FintraGPT

Posted by  Fintra , updated 2024-04-14

The HDFC MoneyBack+ Credit Card stands out as a rewarding credit card, offering numerous benefits to its users across diverse categories. Cardholders have the opportunity to accumulate reward points and receive cashback on their expenditures at popular platforms like Swiggy, Amazon, Flipkart, Big Basket, and Reliance Smart Super Store. With its focus on providing exciting reward points, the HDFC MoneyBack+ Credit Card is an excellent choice for individuals seeking an entry-level credit card. To aid the cardholders in unraveling the intricacies of this credit card, let's explore how FintraGPT can serve as a trustworthy guide.

Understanding the Basics of HDFC MoneyBack+ Credit Card

FintraGPT acts as a virtual mentor, simplifying complex financial information. To grasp the essence of the HDFC MoneyBack+ Credit Card, it's essential to start with the basics. This credit card is designed to provide rewards across various categories, making it an attractive option for those seeking entry-level benefits.

1. FintraGPT guides users through the diverse spending categories where individuals can maximize their benefits. Whether the user is a frequent shopper on e-commerce platforms or relies on food delivery services, understanding how credit card rewards work in each category is essential for optimizing returns.
2. For those new to the world of credit cards, the HDFC MoneyBack+ Credit Card's entry-level positioning makes it an attractive option. FintraGPT highlights the simplicity and accessibility of this card, making it an excellent choice for individuals looking to dip their toes into the world of credit.
3. FintraGPT assists in demystifying the process of utilizing the cashback and reward points earned. Whether the cardholders choose to redeem them for discounts on their favorite online platforms or convert them into statement credit, understanding the redemption options enhances the overall value of credit card usage.
4. To make the most of the HDFC MoneyBack+ Credit Card, FintraGPT shares smart spending strategies. From planning the purchases during special promotions to staying mindful of the reward points expiry, these tips ensure that you maximize the benefits of your credit card.
5. Given the card's association with major online retailers, FintraGPT sheds light on how the HDFC MoneyBack+ Credit Card can turn online shopping into a rewarding experience.
6. FintraGPT emphasizes the importance of responsible credit card usage. Understanding the credit limit, making timely payments, and avoiding unnecessary debt are essential aspects that FintraGPT guides through building a positive credit history.

Features and Benefits of HDFC Bank MoneyBack+ Credit Card

The HDFC MoneyBack+ Card, akin to the original MoneyBack Card, stands out as one of the most sought-after cashback credit cards in the Indian market. This card rewards the cardholders with cashback in the form of CashPoints across all spending categories. Beyond the cashback earnings, the card extends additional perks such as gift vouchers, dining discounts, fuel surcharge waivers, and more.

1. Welcome Benefits: Upon joining the card,  the cardholders will receive a warm welcome in the form of 500 CashPoints. Furthermore, each year upon card renewal, an additional 500 cash points are credited to the individual account, enhancing the overall value of being a cardholder.
2. Milestone Benefits: As the cardholders reach spending milestones, the HDFC MoneyBack+ Card offers the opportunity to earn a gift voucher valued at Rs. 500 for every quarter in which the individuals spend Rs. 50,000 or more. This translates to a substantial total of Rs. 2,000 worth of gift vouchers annually.
3. Dining Benefits: Indulge in a delightful dining experience with a generous discount of up to 20% at over 2,000 premium restaurants when you use your MoneyBack Plus Credit Card for payment. This feature adds a touch of luxury to your culinary endeavors.
4. Fuel Surcharge Waiver: Enjoy the convenience of a 1% waiver on fuel surcharges for fuel purchases made using the HDFC MoneyBack+ Credit Card. The maximum surcharge waiver is capped at Rs. 250 per billing cycle, providing tangible savings on your fuel expenses.
5. Spend-Based Renewal Fee Waiver: The card offers a renewal fee waiver for prudent spenders.  By achieving an expenditure of Rs. 50,000 or more in the preceding year, the individuals become eligible for a waiver on the Rs. 500 renewal fee for the HDFC MoneyBack+ Credit Card. This feature rewards responsible and substantial card usage.

HDFC MoneyBack+ Credit Card: Reward Points and Cashback Details

The HDFC MoneyBack+ Credit Card stands out for its cashback benefits, awarded in the form of points for every transaction made using the card. Let's delve into the specifics of the cashback rewards for various transactions:

1. 10X CashPoints (20 CashPoints per ₹150 spent): Enjoy 10 times the CashPoints (20 CPs per Rs. 150) on your expenditures at Amazon, Flipkart, Big Basket, Reliance Smart Superstore, and Swiggy. However, please note that bonus cash points in this category are capped at 2,500 points per month. If you engage in EMI transactions with merchants under this category, the cardholder will receive 5X CashPoints.
2. 5X CashPoints (10 CashPoints per Rs. 150 spent): For EMI spends at selected merchant locations, earn 5 times the Cash Points (10 CPs per Rs. 150). This applies to Merchant/EasyEMI, Aggregator EMI, and Brand EMI transactions. It's important to note that only the EMI principal amount is eligible for CashPoints, with a monthly cap of 2,500 cash points within this category.
3. 2 CashPoints (2 CashPoints per Rs. 150 spent): Receive 2 Cash Points for every Rs. 150 spent, including SmartPay transactions. However, certain transactions such as Fuel Spends, Wallet loads, Gift or Prepaid Card loads, Voucher purchases, Cash Advances, Payment of Outstanding amounts, and Payment of card fees do not qualify for CashPoints.
4. Reward Points/Cashback Redemption: 1 Cash Point equals Rs. 0.25 for redemption against statement cash. The points can be redeemed via net banking, requiring a minimum of 500 Cash Points:

• 0.25 for each Cash Point when redeemed against flight/hotel bookings on Smartbuy. Up to 50% of the booking amount can be covered through Cash Points.
• 0.25 for each Cash Point when redeemed against the product catalog.
• 1 Cash Point equals Rs 0.25 AirMile for redemption against Airmiles.

Eligibility Criteria for HDFC MoneyBack+ Credit Card

Ensuring eligibility is the first step towards acquiring the HDFC MoneyBack+ Credit Card:

• Salaried individuals aged 21 to 60 should have a minimum monthly income of Rs. 20,000.
• Self-employed individuals aged 21 to 65 should have a minimum annual income of Rs. 6 lakhs.
• A decent credit score is a prerequisite for the applicant.

Required Documents for HDFC MoneyBack+ Credit Card Application

To initiate the application process for the HDFC MoneyBack+ Credit Card, you need to provide the following essential documents:

Identity Proof:

• PAN Card
• Passport
• Aadhar Card
• Driving License
• Voters’ ID

Address Proof:

• Utility bills
• Aadhar Card
• Passport
• Driving License

Income Proof:

• Latest bank statements
• Three months’ salary slips
• Latest Income Tax Return (ITR)

How to Apply for HDFC MoneyBack+ Credit Card

Initiating the application for the HDFC MoneyBack+ Credit Card is a straightforward process, offering both online and offline options for your convenience.

1. Online Application: To apply online, visit the designated credit card application page on HDFC Bank's official website. Individuals will be required to submit essential documents such as salary slips or ITR return acknowledgment, along with identity proof and proof of residence. This information is crucial for the processing of your application.
2. Offline Application: For those who prefer a more hands-on approach, you have the option to visit any HDFC branch. There the users can complete the application process offline with the guidance of bank officials who will assist them through each step.
3. Checking Application Status: If any users have already applied for the HDFC MoneyBack Plus card, keeping track of the cardholder's application status is a seamless process.

Conclusion

With its attractive reward offerings and convenient redemption options, the HDFC MoneyBack+ Credit Card stands out as an excellent choice for regular expenditures. The HDFC MoneyBack+ Credit Card, with its attractive rewards and redemption options, can be a valuable addition to your financial toolkit. Leveraging the power of FintraGPT as the guide, cardholders can navigate through the complexities of credit card terms, benefits, and usage. From understanding the reward structure to exploring redemption possibilities, FintraGPT ensures that users make informed decisions aligned with their financial goals.