The Tata Neu Plus HDFC Bank credit card is a co-branded credit card and is considered the lower variant among the two Tata Neu HDFC Bank credit cards available. This card is often offered as a Lifetime Free card to most users and provides a reward rate ranging from 1% to 2%, which is typical for entry-level credit cards. But is it truly worth considering the Tata Neu Plus HDFC Bank credit card for your Tata Neu and other expenses? Let’s delve into a comprehensive review of this credit card.
Fees and Charges
| Joining Fee | Rs 499+GST or FYF |
| Welcome Benefit | 499 NeuCoins |
| Annual Fee | Rs 499+GST or NIL |
| Annual Fee Waiver | Spend Rs 1 Lakh in a membership year |
The Tata Neu Plus HDFC Bank credit card comes with a Joining Fee of Rs 499+GST, which can also be waived as a Welcome Benefit, making the card Lifetime Free. The Annual Fee for this card is Rs 499+GST, but it can also be waived if you spend Rs 1 Lakh in a membership year.
Rewards
The reward structure for the Tata Neu Plus HDFC Bank credit card is as follows:
- Tata Neu and partner brands: 2%
- Utility Bill Payments and Recharges with Tata Pay: 2%
- All other spends (including merchant EMI and UPI): 1%
- Wallet, Gift Vouchers, Fuel, Rent, and Government Transactions: 0%
Partner brands include 1MG, Big Basket, Croma, Air Asia, Tata CLiQ, IHCL, Westside, Qmin, Tata Play, and Cult. However, rewards for Grocery transactions are capped at 1000 NeuCoins per calendar month, rewards for Insurance spending are capped at 2000 NeuCoins per day, and rewards for UPI spends are capped at 500 NeuCoins per calendar month.
The 2% reward rate on partner spending might not be as attractive compared to other entry-level credit cards. A higher reward rate on Tata Neu spending and other transactions would have made it more appealing. Other credit cards in the same annual fee range offer better rewards.
Fair Usage Policy: Caps on Tata Brand Merchants Rewards
The Tata Neu Plus credit card imposes a fair usage policy cap on its rewards, limiting commercial spends on the card. The caps apply to spends that earn 2% NeuCoins on Tata Partner brands and transactions.
| BRAND | MAX MONTHLY SPENDS ELIGIBLE FOR 2% NEUCOINS | MAX ANNUAL SPENDS ELIGIBLE FOR 2% NEUCOINS |
|---|---|---|
| Croma | Rs 3 Lakhs | Rs 9 Lakhs |
| Tata CLiQ | Rs 2 Lakhs | Rs 12 Lakhs |
| IHCL, Qmin, Air Asia | Rs 4 Lakhs | Rs 15 Lakhs |
| 1MG, Cult, Tata Play | Rs 1 Lakh | Rs 7.5 Lakhs |
| Bill Payments – Tata Pay | Rs 50000 | Rs 6 Lakhs |
| Big Basket | Rs 50000 | Rs 6 Lakhs |
| Titan, Tanishq | Rs 3 Lakhs | Rs 9 Lakhs |
HDFC Bank SmartBuy Offers for Tata Neu Plus Credit Card
Unlike other HDFC Bank credit cards, the Tata Neu Plus HDFC Bank credit card does not provide the 5% cashback or 5X rewards benefits on SmartBuy. Instead, it offers bonus NeuCoins for SmartBuy transactions at a lower rate. Through SmartBuy, you can earn a maximum of 1000 bonus NeuCoins per calendar month.
| CATEGORY | TATA NEU PLUS HDFC BANK CREDIT CARD (NEUCOINS) |
|---|---|
| IGP.com | 4% |
| Flights | 1% |
| Hotels | 4% |
| IRCTC | 1% |
| RedBus | 1% |
| Instant Vouchers | 1% |
| Apple Imagine Tresor | 1% |
| Flipkart | 1% |
Rewards Redemption
The Tata Neu HDFC Bank credit card statements display the NeuCoins earned per transaction. The earned NeuCoins are automatically transferred to the Tata Neu app within 7 days of statement generation. These NeuCoins can be used for purchases on any of the partner brands, where 1 NeuCoin equals Rs 1 for all brands.
Complimentary Airport Lounge Access
The Tata Neu Plus HDFC Bank Credit Card offers 1 visit/quarter for Airport Lounge Access in India, and the card variant (Visa or Rupay) determines the lounge access service provided by DreamFolks.
Key Benefits
- Fuel Surcharge Waiver: 1% waiver for transactions between Rs 400 and Rs 5000, with a maximum waiver of Rs 250 per statement.
- Foreign Currency Markup: 3.5%+GST
Final Thoughts
The Tata Neu Plus variant doesn’t appear to be an exciting credit card option, especially when it comes to the 2% rewards on Tata Neu spending. Other cashback credit cards could prove to be better choices. Even the Amex MRCC and Flipkart Axis Bank credit cards offer better rewards and benefits.
Considering the available options, we do not recommend the Tata Neu Plus credit card, even for Tata Neu spends. The Tata Neu Infinity variant presents itself as a much better and preferred choice over the Tata Neu Plus.