Benefits of HDFC Bank UPI Rupay Credit Card
Rupay credit cards have gained immense popularity due to their seamless UPI payment integration. In line with this trend, HDFC Bank has introduced a new UPI Rupay Credit Card, which is exclusively available as a virtual credit card. The HDFC Bank UPI Rupay credit card offers CashPoints similar to the Millennia card, providing users with up to 3% CashPoints on various transactions, including UPI payments. This article presents a detailed review of the HDFC Bank UPI Rupay credit card, highlighting its rewards and benefits.
Charges
Joining Fee: Rs 250+GST / Zero
Annual Fee: Rs 250+GST
Type
Cashback
Reward Rate
0.25% to 0.75%
Issued On
Rupay
Fees & Charges
- Joining Fee: Rs 250+GST / Zero (Free for the first year)
- Welcome Benefit: None
- Annual Fee: Rs 250+GST
- Annual Fee Waiver: Spend Rs 25,000 in a membership year
- Renewal Benefit: None
HDFC Bank UPI Rupay Credit Card Review: Fees & Charges
Rewards
| CATEGORY | CASHPOINTS | RETURN | MAX CASHPOINTS |
|---|---|---|---|
| Groceries, Supermarkets | 3% | 0.75% | 500 per calendar month |
| Dining & PayZapp | 3% | 0.75% | 500 per calendar month |
| Utilities | 2% | 0.50% | 500 per calendar month |
| Other Spends | 1% | 0.25% | 500 per calendar month |
| Rent, Wallet, Gift Vouchers | 0% | NIL | – |
| EMI, Fuel & Govt. Services | 0% | NIL | – |
HDFC Bank UPI Rupay Credit Card Review: Rewards
The HDFC Bank UPI Rupay credit card offers a reward rate ranging from 0.25% to 0.75%. This reward rate is relatively lower compared to other credit cards available for UPI transactions. For instance, the HDFC Bank Tata Neu Plus and Infinity variants provide rewards of 1% and 1.5% respectively, while the Snapdeal BoB credit card offers 1% rewards on UPI transactions. Given this, it is quite surprising to see HDFC Bank launch a virtual credit card for UPI transactions with a lower reward rate.
CashPoints Redemption
One crucial aspect to note is that the value of 1 CashPoint on the HDFC Bank UPI Rupay credit card is 25 paise. These CashPoints can be redeemed for statement credits and various other options through HDFC Bank Netbanking.
Here are some key details regarding CashPoints redemption:
- Minimum CashPoints balance required for redemption: 2000
- CashPoints are valid for 2 years from the date of credit
- CashPoints can also be redeemed for travel benefits such as flight and hotel bookings, as well as rewards catalogs on the SmartBuy portal. In this case, the value of 1 CashPoint remains 25 paise. Additionally, the standard 70:30 restriction applies, allowing users to pay up to 70% of the flight/hotel/reward value with CashPoints, while the remaining amount needs to be paid by credit card.
- The best option for redemption is a statement credit, as it offers the same value.
Complimentary Airport Lounge Access
Unfortunately, the HDFC Bank UPI Rupay credit card does not provide any complimentary airport lounge access.
- Domestic Airport Lounge Access: Not Available
- International Airport Lounge Access: Not Available
Other Benefits and Charges
- Fuel Surcharge Waiver: Not Available
- Foreign Currency Transaction Charges: 3.5%+GST
- Finance Charges: 3.60% per month / 43.20% annually
Final Thoughts
If you require a Rupay credit card for foreign transactions, it is recommended to explore options such as the Tata Neu Infinity, Plus, and SNAPDEAL BoB credit cards. However, it’s worth noting that all these options have a rewards cap on UPI transactions. Therefore, if you have already reached the rewards cap on your existing Rupay credit card, the HDFC Bank UPI Rupay credit card can be considered as a viable alternative.