HDFC Bank MoneyBack Plus Credit Card

Introduction – HDFC Moneyback Plus Credit Card Review

The HDFC MoneyBack Plus Credit Card is a card introduced as sequel to HDFC MoneyBack Credit Card, issued earlier by HDFC. Both of the cards share a resemblance in terms of fees and charges i.e. INR 500/year. But the reward rates on MoneyBack Plus Credit Card are higher especially on select merchants like Amazon, BigBasket, Reliance Smart SuperStore, Flipkart  & Swiggy.

The reward rate can go as high as 20 cash points on every INR 150 spent. These points are reedamble against card dues, a product catalog and Airmiles as well. The annual feel waiver is also at a reasonable spend of INR 50,000 a year. Let us dig deeper into review by assessing individual aspects of HDFC MoneyBack Plus Credit Card and list out the benefits, fees & charges.

What is HDFC Moneyback Plus Credit Card?

HDFC MoneyBack Plus Credit Card is an entry level credit card with decent reward rates targetted towards young individuals who have frequently shop and spend with certain brands such as Amazon, BigBasket, Reliance Smart SuperStore, Flipkart  & Swiggy. The card’s annual fee is best suited for young individuals who are new to credit and are looking for a credit card which can offer them decent discounts and reward points on their spends. The eligibility criteria are also reasonably relaxed making it easier to apply for this credit card.

HDFC Moneyback Plus Credit Card Benefits

• Fuel Surcharge Waiver – 1% Fuel Surcharge waiver if minimum transaction value above ₹400 & maximum transaction value bewlow ₹5,000 subject to a maximum waiver of ₹250 per billing cycle.
• Zero lost Card liability – Zero Liability on fradulent transactions made from your credit card after it was lost if you have already reported the loss of card on their 24 hour call centre.
• ​​​Dining Benefits – Good Food Trail program which offers 20 % off (inclusive of Restaurant and Swiggy Discount) on your restaurant bill payments made via Swiggy Dineout.

HDFC Moneyback Plus Credit Card Lounge Access

There is no lounge access on this credit card as it an entry level credit card.

How to apply for HDFC MoneyBack Plus Credit Card?

• Visit https://applyonline.hdfcbank.com/cards/credit-cards.html and start the process by entering your mobile number.
• Proceed with the credit card application with all details and on completion you will be sent a link for Video KYC.
• For offline application, you can visit the nearest HDFC Bank branch, and fill up the offline credit card application form and submit it to the bank’s official.

MoneyBack Plus Credit Card Eligibility

• Age: 21 years to 60 years of age.
• Income: salaried individuals – Rs.20,000 per month and above, self-employed Rs.6 lakh p.a.
• Nationality: The applicant should be an Indian.

Documents Required for MoneyBack Plus Credit Card

• Identity Proof: Permanent Account Number (PAN) Card, Passport, Aadhar Card, Voter ID Card, Driving License, Person of Indian Origin (PIO) Card.
• Address Proof: Passport, Voter ID Card, Aadhar Card, Driving License, Ration Card, Electricity Bill, Bank Account Statement, or Property Registration Document.
• Income Proof: Last two months’ salary slips, Form 16, and the Previous three months’ bank account statement.

Rewards Program for MoneyBack Plus Credit Card

Range of ₹0.33 – ₹3.33 on every ₹100 spent

1 Cash Point is equal to ₹0.25 and the base reward rate is 2 cash points per ₹150 spent, meaning 1.33 cash points per ₹100 spent, meaning ₹0.33 per ₹100 spent. The highest multiplier on select brands is 10x cash points which means you would be able to get ₹3.33 as rewards per ₹100 spent on brands like Amazon, BigBasket , Flipkart, Reliance Smart SuperStore & Swiggy. You also get 5x cash point on EMI spends at merchant locations.

Note:

• Rent Govt Related transactions won’t earn reward points.
• Reward points on Grocery capped to 1,000 reward points per month.

HDFC MoneyBack Plus Credit Card Review Conclusion

HDFC MoneyBack+ is a resonably crafted credit card which is well suited for first time credit users due to  it’s relatively relaxed eligibility criteria and good reward rates on popular brands. It can be a great choice to start credit journey without opting for a hefty annual fee burden. Another card that we would suggest in this category would be SBI Cashback Card.