HDFC Business Money Back Credit Card Review:

If someone asks me, one word for luxury, along with affordability, then the first thing that comes into my mind is HDFC’s Business Money back Credit Card.

It is one of the best low annual fee business credit card offered by HDFC Bank. Appropriate for all types of business-centric transaction, the card not only offers high reward points but also huge cash backs on transactions.

HDFC Business Money Back Credit Card features-

Card Type—Cash back & Reward point

Joining Fees—- Rs.500/-

Renewal Fees—- Rs 500/-

Foreign Currency Markup— 3.5% per currency conversion.

Interest Rate— 3.6% per month

Cash Advance charge— 2.5% of the withdrawal amount subject to a minimum charge of Rs 500.

HDFC Business Money Back Credit Card Benefits for Business:

1) Interest free credit period for up to 50 days.

2) Users will be benefited by 5% monthly cash back on business essential spends like electricity bills, telephonebills, Government tax. Hassle free tax payment through credit card. Where, the max cash back is of Rs.250/- on minimum monthly spends of Rs.10, 000.

3) Double cash back (5%) on business essential spends for HDFC current account holder. Which is Rs.500/- on min monthly spend of Rs.10, 000 in first year and Rs 250/-from second year onwards.

4) With Easy EMI options on the credit card business owners can buy interiors, furniture, electronics, ACs in bulk for the business.

5)  User’s will get access to Pre approved instant loans and cash withdrawal facility on the card.

Smart EMI Option — The card offers option to convert large purchases through the card into  Smart EMI .The purchases include —Insurance, groceries, medical, petrol, utility , apparel,  education, electronics, travel.

Renewal Fee Waiver— One can get the renewal fee waived off for next year on a spending of Rs.50, 000/- in 12 months.

Dining Benefits— Saving of up to 20% on dinning bills paid through DineoutPay. Maximum discount per card per month is Rs.300/- .

Fuel Surcharge waiver—1% fuel surcharge waiver at all fuel stations across India, with minimum transaction of Rs.400/- and maximum of Rs.5000/-. Maximum cash back of Rs 250/- per cycle.

Zero  lost card liability— If the card gets lost , report should be done immediately to the 24 hour call centre  , then the user will have a zero liability on any fraudulent transactions made from the card.

Milestone Benefits— One can earn 25, 00 bonus reward points on annual spends of Rs.1,80,000/-

Utility Bill payments— Users can register the credit card with SmartPay ( HDFC’s utility bill payment service).This ensures that all the utility bills are paid on time conveniently and easily .Cash back of Rs. 1800/-in 1^st year and e-vouchers worth Rs.800 for adding 2 or more bills on Smart Pay.

HDFC Business Money Back Credit Card Reward points:

Although there is no such Welcome Benefits for this card ,and also no facility for lounge access , no insurance benefits, and other luxury items such as golf pass ,travel and hotel allowances are not included in this card but,

1) With this card one can earn 2X Reward, which is 4 Reward points on every Rs. 150/- spent online.

2) Also, 2X Reward Points on all other retail spends for every Rs.150/- spent ,but spends on wallet ,EMI, and petrol is excluded.

3) And 5X Reward points on Fuel (maximum 1000 points in a month). But this benefit is applicable on freshly issued card, i.e. for the first year only.

4) Bonus 25, 00 Reward Points on Rs 1.8 lakhs spends in anniversary years.

5) 50 days of free credit period if one uses the HDFC card to make payment to all vendors and suppliers bill, and Also GST payment.

6) All the Reward points can be redeemed as cash backs but minimum number of points needed for redemption is 2500.  (100 Reward Points = Rs 20 and must be redeemed within two years)

7) Lastly, reward redemption fees of Rs.99/- is needed for every redemption request.

Eligibility—

. A self employed Indian citizen

. Age limit= 21 yrs- 65 yrs

. Annual ITR above Rs.6 Lakhs.

Documents needed—

Documents required must present as a proof of identity, address proof and a income proof.

.   KYC documents such as PAN, Aadhar, Voter Id, Passport, Driving license etc.

. Income tax returns with computation sheets.

. One photograph

Process of application for the card—

1.  Visit the official site of HDFC bank
2.  In the section BORROW select CARD and then select CREDIT CARD.
3. Then under the category of BUSINESS CREDIT CARD select the HDFC BUSINESS MONEYBACK CREDIT Card.
4. Click on apply now and fill the form given.

Conclusion —

Thus, the card becomes a Hobson’s choice for every business professional who not only wants to earn reward points on every business transaction but also attain good cash back along with other additional benefits.