HDFC Bharat Cashback Credit Card Review

We invite you to explore our comprehensive evaluation of the HDFC Bank Bharat Credit Card! Recently launched by HDFC Bank, this captivating new credit card aims to offer customers remarkable benefits and privileges. The HDFC Bank Bharat Credit Card, a cashback card, presents an impressive 5% monthly cashback on an array of handpicked merchant categories such as mobile recharges, bill payments, groceries, and even fuel.

Additionally, cardholders can enjoy a 1% fuel surcharge waiver, further enhancing their savings at the pump. For those who frequently travel by train, there’s an attractive 5% monthly cashback on railway tickets booked through IRCTC. With a joining fee of just Rs. 500 plus applicable taxes, this card offers a host of benefits that make it an appealing choice for individuals seeking to maximize their savings and enjoy a rewarding credit card experience.

In this review, we will delve deeper into the offerings of the HDFC Bank Bharat Credit Card, providing you with valuable insights to help you make an informed decision.

Features and Benefits

• Suited for Payment Platform Users: The HDFC Bank Bharat Credit Card is specifically designed for individuals who frequently make payments through platforms like PayZapp, SmartBUY, and EasyEMI. It caters to the needs of users who prefer convenient digital transactions.
• Cashback on Various Spends: This credit card offers cashback on a wide range of expenditures, including groceries, bill payments, recharges, and fuel. By using the HDFC Bank Bharat Credit Card for these expenses, cardholders can enjoy attractive cashback rewards.
• Zero Lost Card Liability: In case of card loss or theft, HDFC Bank provides a robust security feature. If you promptly report the loss to the bank within 24 hours, you will not be held liable for any unauthorized transactions made on your card.
• Fuel Surcharge Waiver: Cardholders are entitled to a 1% fuel surcharge waiver on fuel transactions of Rs. 400 or more at any fuel station in India. The waiver amount is capped at Rs. 250 for each billing cycle, helping to save on fuel expenses.
• Insurance Benefit: With the HDFC Bank Bharat Credit Card, you can enjoy the added assurance of an accidental death cover insurance of up to Rs. 50 Lakhs. This benefit provides financial protection for unforeseen circumstances, giving you peace of mind.
• Spend-Based Waiver: If you are able to spend Rs. 20,000 or more in the previous year using your HDFC Bank Bharat Credit Card, the annual fee of Rs. 500 will be waived off. This spend-based waiver rewards regular card usage and offers cost savings for active users.

HDFC Bharat Credit Card Rewards

The HDFC Bank Bharat Credit Card offers a range of rewarding benefits, allowing cardholders to maximize their savings and enjoy cashback on various transactions. Let’s explore the enticing rewards offered by this credit card:

Category A Transactions

• Earn a generous 5% monthly cashback on specific Category A transactions. These transactions include fuel expenses, railway ticket bookings through IRCTC, grocery purchases, bill payments, and mobile recharges.
• The maximum cashback you can earn on all combined Category A transactions is capped at Rs. 150.
• With these attractive cashback rewards, you can significantly reduce your expenses in key spending areas.

Category B Transactions

• Additionally, the HDFC Bank Bharat Credit Card offers a 5% monthly cashback on Category B transactions.
• Category B transactions include payments made through popular platforms such as PayZapp, SmartBuy, and EasyEMI.
• Similar to Category A, the maximum cashback you can earn on all combined Category B transactions is capped at Rs. 150.
• By utilizing these digital payment platforms, you can earn cashback on a wide range of purchases, further enhancing your savings.

HDFC Bank Bharat Credit Card: Fees and Charge

When considering the HDFC Bank Bharat Credit Card, it is essential to be aware of the associated fees and charges. Understanding these fees will help you manage your finances effectively. Here are the key fees and charges associated with this credit card:

Joining and Annual Fee

• The HDFC Bank Bharat Credit Card has a joining fee and an annual fee, both set at Rs. 500.
• This nominal fee structure makes the card accessible and affordable for users.

Foreign Currency Markup Fee

• For transactions made in foreign currencies, the HDFC Bank Bharat Credit Card imposes a foreign currency markup fee of 3.5%.
• It’s important to consider this fee if you frequently make purchases or travel abroad.

Monthly Interest

• The HDFC Bank Bharat Credit Card charges a monthly interest rate of 3.6%, which translates to an annual interest rate of 43.2%.
• It is crucial to be mindful of this interest rate and ensure timely payments to avoid unnecessary interest charges.

Cash Advance Charges

• In the event of cash advances, the HDFC Bank Bharat Credit Card imposes a cash advance fee of 2.5% of the transaction amount or Rs. 500, whichever is higher.
• It is advisable to limit cash advances due to the associated charges.

Being aware of the fees and charges associated with the HDFC Bank Bharat Credit Card allows you to plan and manage your finances effectively. By understanding the joining and annual fee, foreign currency markup fee, monthly interest rate, and cash advance charges, you can make informed decisions and utilize the card in a manner that aligns with your financial goals.

Eligibility Criteria for HDFC Bharat Credit Card

To be eligible for the HDFC Bank Bharat Credit Card, applicants need to meet certain criteria set by the bank. These requirements ensure that the card is issued to individuals who fulfill the necessary financial and age-related conditions. Here are the minimum eligibility criteria for this credit card:

Salaried Employee

• Age: Applicants should be between 21 and 60 years of age.
• Income: Salaried individuals need to have a minimum monthly gross income of Rs. 12,000 to meet the eligibility criteria.

Self-employed Individual

• Age: Self-employed individuals should fall within the age range of 21 to 65 years.
• Income: For self-employed applicants, a minimum annual Income Tax Return (ITR) of Rs. 2 lakhs per annum is required to fulfill the eligibility requirements.

These eligibility criteria provide a framework for individuals to determine whether they meet the necessary conditions to apply for the HDFC Bank Bharat Credit Card. It is essential to consider your age and income level based on your employment type (salaried or self-employed) before applying for this credit card. By meeting the eligibility criteria, you can enhance your chances of obtaining the HDFC Bank Bharat Credit Card and enjoy its benefits and features.

How to Apply for HDFC Bharat Credit Card?

Applying for the HDFC Bharat Credit Card is a simple and convenient process, allowing individuals to choose between online and offline methods based on their preference. Here are the steps to apply for this credit card:

Offline Application

• Visit the nearest HDFC Bank branch with all the necessary documents.
• Fill out the physical application form provided by the bank.
• Submit the completed application form along with the required documents to initiate the application process.

Online Application

• Access the official website of HDFC Bank through a web browser.
• Navigate to the ‘Borrow’ section and select ‘Credit Cards.’
• Locate and choose the HDFC Bharat Credit Card from the available options.
• Click on the ‘Apply Now’ button to proceed with the online application.
• Fill in the digital application form with accurate and relevant details.
• Review the provided information and submit the application form online.

By following these steps, applicants can easily apply for the HDFC Bharat Credit Card either online or offline, based on their convenience. Whether you prefer the flexibility of applying online from the comfort of your home or prefer a personal visit to the bank branch, HDFC Bank offers multiple application channels to accommodate your preferences.

Also read:

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FAQs

Is the HDFC Bharat Cashback Credit Card suitable for first-time credit card users?

Yes, the HDFC Bharat Cashback Credit Card is considered suitable for new credit card users. It has a relatively low joining fee and offers cashback rewards on essential spending categories, making it an attractive option for beginners.

What is the cashback rate offered by the HDFC Bharat Cashback Credit Card?

The HDFC Bharat Cashback Credit Card provides a cashback rate of 5% on selected merchant categories, including fuel expenses, railway ticket bookings, groceries, bill payments, and mobile recharges.

Is there a foreign currency markup fee associated with the HDFC Bharat Cashback Credit Card?

Yes, the HDFC Bharat Cashback Credit Card charges a foreign currency markup fee of 3.5% for transactions made in foreign currencies.

What is the maximum cashback limit on the HDFC Bharat Cashback Credit Card?

The maximum cashback limit for combined transactions in Category A and Category B is capped at Rs. 150 each, allowing cardholders to earn up to Rs. 300 in cashback per month.

Conclusion

The HDFC Bank Bharat Credit Card is an affordable and practical choice for individuals seeking a credit card with cashback benefits. With its attractive cashback rate of 5% on selected merchant categories, this card is ideal for those who value cashback rewards. Moreover, the card offers a fuel surcharge waiver, providing additional savings at the pump. If you frequently make purchases through payment platforms like PayZapp, SmartBUY, or EasyEMI, the HDFC Bank Bharat Credit Card is well-suited to your needs.

Priced at just Rs. 500, this credit card is a basic option that allows you to establish and build your credit history. It serves as an excellent starting point for individuals embarking on their credit card journey. By using the HDFC Bank Bharat Credit Card responsibly and making timely repayments, you can not only enjoy cashback benefits but also enhance your credit profile.

Overall, the HDFC Bank Bharat Credit Card is a reliable choice for those seeking a pocket-friendly credit card with cashback rewards. It provides a valuable opportunity to earn cashback on your transactions while establishing a positive credit history.

Author: Vedanti KiranVedanti is a female finance writer, currently pursuing her studies at Hansraj College. She has a passion for writing and travelling, and her articles on the stock market, finance, investment, and cryptocurrency are well-researched and informative. With her unique perspective on the world of finance, Vedanti is a go-to source for those seeking insights into the world of finance.