HDFC MoneyBack+ Credit Card

The HDFC Moneyback+ Credit Card is a upgraded version of their regular Moneyback Card. It lets you earn extra reward points when you shop at popular places like Amazon, Flipkart, BigBasket, Swiggy, and others. What's unique is that you also get more rewards when you use EMI for big purchases. So, if you spend a lot, this card might be a good choice for you. Here's what you should know to decide if it's the right card for you.

Key Highlights of HDFC MoneyBack+ Credit Card

HDFC MoneyBack+ Credit Card
Best Suited For Rewards
Joining Fee Rs. 500
Renewal Fee Rs. 500 (Waived off on spending Rs. 50,000 in a year)
Minimum Income Requirement
  • Salaried: Rs. 20,000 p.m.
  • Self-employed: ITR>Rs. 6 lakh p.a.
Welcome Benefit 500 CashPoints on the payment of joining fee
Best Feature 10X CashPoints on Amazon, Swiggy, BigBasket, Reliance Smart SuperStore & Flipkart

Earn up to 10X Reward Points

With the HDFC Moneyback+ Credit Card, you can earn rewards in the form of CashPoints, and here's how it works:

  • Earn 10X CashPoints on transactions at Flipkart, Amazon, Swiggy, Reliance Smart SuperStore, and BigBasket.
  • Get 5X CashPoints when you use EMI at various merchant locations.
  • Collect 2 CashPoints for every Rs. 150 spent on other categories, excluding fuel, wallet reload, prepaid card loads, and voucher purchases.

Apart from the CashPoint earning rates across different categories, cardholders should also consider the following terms and conditions:

  • For the 5X and 10X categories, cardholders can accumulate a maximum of 2,500 CashPoints in a calendar month.
  • EMI transactions, even when conducted with the 10X category merchants, will only yield 5X CashPoints.
  • Rent payments and government-related transactions will not generate any CashPoints.
  • CashPoints for grocery transactions are limited to 1,000 CashPoints in a month.

CashPoint Redemption

  • CashPoints can be redeemed for a statement credit at a rate of 1 CashPoint = Rs. 0.25. To initiate a redemption, a minimum of 2,000 CashPoints must be available in your account.
  • Cardholders can use their CashPoints to buy things on the SmartBuy Platform or book travel and hotels. When they do this, 1 Reward Point (RP) is worth Rs. 0.25.
  • Unused CashPoints will expire in 2 years

Welcome, Renewal and Milestone Benefits

Cardholders can receive extra CashPoints when they join, renew, or reach specific spending milestones, as follows:

  • 1. 500 CashPoints when paying the joining fee
  • 2. 500 CashPoints when renewing the card
  • 3. A 500 Rs. gift voucher when achieving quarterly spending of Rs. 50,000 or more.

Other Benefits of HDFC MoneyBack+ Credit Card

  • Welcome Benefit: Upon activation, you receive a welcome benefit of 500 CashPoints, which is equivalent to approximately Rs. 125 (where 1 CashPoint = Re. 0.25).
  • Zero Lost Card Liability: If your card is lost, you won't be held liable for any fraudulent transactions. Be sure to report the loss promptly to HDFC Bank Credit Card customer care, available 24x7.
  • EMI Conversion: You can convert significant purchases into manageable EMIs after making the purchase.
  • Contactless Payments: The card allows for contactless payments without needing to enter the Credit Card PIN, up to a maximum of Rs. 5,000 for a single transaction.
  • Fuel Surcharge Waiver: You can enjoy a 1% fuel surcharge waiver on transactions ranging from a minimum of Rs. 400 to a maximum of Rs. 5,000. The waiver is limited to Rs. 250 per statement cycle.

Below mentioned are the fees and charges applicable to HDFC Bank MoneyBack+ Credit Card:

Fee Type Details
Joining Fee Rs. 500
Annual / Renewal Fee Rs. 500 (Waived off on spending Rs. 50,000 or more in a year)
Finance Charges 3.6% p.m. (43.2% p.a.)
Over limit charges 2.5% of the over-limit amount (minimum Rs.500)
Payment return charges 2% of payment amount (minimum Rs.450)
Cash processing fee Rs. 100
Late Payment Charges For Statement Balance
  • Less than Rs. 100 – Nil
  • Rs.100 to Rs.500 – Rs.100
  • Rs.501 to Rs.5,000 – Rs.500
  • Rs.5,001 to Rs.10,000 – Rs.600
  • Rs.10,001 to Rs. 25,000 – Rs.800
  • Rs. 25,001 to Rs. 50,000 – Rs. 1,100
  • More than Rs. 50,000 – Rs. 1,300
Reissue of lost, stolen or damaged card Rs.100
Interest rate 3.49% per month
Foreign currency transaction fee 3.5%
Cash withdrawal fee 2.5% of the withdrawn amount (Minimum Rs.500)
Cash advance limit 40% of the credit limit
Rewards redemption fee Rs.99 per request

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The applicant must fulfill the below-mentioned eligibility criteria to apply for this HDFC Bank MoneyBack+ Credit Card:

Criteria Details
Age Requirement Min. 21 years to Max. 60 years (Max. 65 years for self-employed)
Minimum Income
  • For Salaried: Rs. 20,000 p.m.
  • For Self-employed: ITR > Rs. 6 lakh p.a.
Documents Required Click here for the list of documents

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The HDFC MoneyBack+ card is a good choice for those starting out because it has a low monthly income requirement of Rs. 25,000. It gives you benefits on everyday expenses like groceries through BigBasket, shopping on Flipkart and Amazon, dining with Swiggy, and purchases at Reliance Smart SuperStore.

Additionally, this card is perfect if you plan to buy expensive items and pay for them in installments because it gives you extra rewards even when you use the card for EMI transactions.

Among HDFC Bank's cards, the closest rivals to the MoneyBack+ card are the regular MoneyBack card and the Millennia card. The regular MoneyBack card is suitable for online spending but doesn't offer rewards as good as the MoneyBack+ version. On the other hand, the HDFC Millennia card is a strong alternative because it offers a 1:1 rewards-to-cashback ratio, which is quite competitive. However, it's important to note that the Millennia card has a higher annual fee, costing Rs. 1,000, whereas the MoneyBack+ card has a lower fee.

There are two main drawbacks to HDFC Moneyback+ Credit Card:

  • It does not provide any travel-related perks, nor does it offer enhanced rewards for purchases made with well-known travel companies.
  • Groceries and fuel are two of the most significant expense categories for most individuals. However, this card does not provide any rewards for fuel purchases, and the rewards for grocery spending are limited to a maximum of 1,000 reward points.

Hence, you should consider getting this card, if:

  • You frequently make purchases from the partner brands- Flipkart, Amazon, Swiggy, etc.
  • You are not looking for travel benefits or already have a travel credit card
  • You want a card that offers benefits in the form of reward points and does not charge high annual fee
  • You already have a credit card for fuel

To help you choose between the three HDFC Credit Cards mentioned above- Moneyback, Moneyback+ and Millennia, here is a comparison.

Comparison: Moneyback Vs. Moneyback+ Vs. Millennia

Parameters Moneyback Moneyback+ Millennia
Annual Fee Rs. 500 Rs. 500 Rs. 1,000
Income Eligibility Rs. 25,000 p.m. Rs. 20,000 p.m. Rs. 35,000 p.m.
Welcome Benefit 500 CashPoints 500 CashPoints 1,000 CashPoints
Reward Rate
  • Earn 2 Reward Points on every Rs. 150 spent
  • 2X Reward Points on all online spends
  • 10X CashPoints on Amazon, BigBasket , Flipkart, Reliance Smart SuperStore & Swiggy
  • 5X CashPoints on EMI Spends at select merchants
  • 5% Cashback on Amazon, BookMyShow,, Flipkart, Myntra, Sony LIV, Swiggy, Tata CLiQ, Uber and Zomato
Redemption Value Product Catalogue- up to Rs. 0.25 Flights/Hotels- Rs. 0.20 Cashback- Rs. 0.20 Airmiles- Rs. 0.25 1 Reward Point = Rs. 0.25 (for all redemption categories) Product Catalogue- up to Rs. 0.30 Flights/Hotels- Rs. 0.30 Cashback- Rs. 1 Airmiles- Rs. 0.30
Milestone Benefit Spend Rs. 50,000 in a quarter and get Rs. 500 gift voucher Spend Rs. 50,000 in a quarter and get Rs. 500 gift voucher Spend Rs. 1,00,000 in a quarter and get Rs. 1,000 gift voucher

If you are looking for a rewards credit card, then you can refer to the cards mentioned in the table below:

Credit Card Annual Fee Comparative Feature
SBI Prime Credit Card Rs. 2,999 10 rewards points on every Rs. 100 spent on dining, groceries, departmental stores, and movies
Citibank Rewards Credit Card Rs. 1,000 10 reward points on every Rs. 125 spent on apparel and departmental stores (online & in-store)
Standard Chartered Platinum Rewards Credit Card Rs. 250 5 reward points for every Rs.150 spent on dining, fuel and 1 reward point on other categories
HDFC Regalia Credit Card Rs. 2,500 4 reward points for every Rs. 150 spent via this credit card
HDFC Diners Club Privilege Credit Card Rs. 2,500 4 reward points for Rs. 150; 10X reward points on partner brands and 2X rewards on weekend dining

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1. How can I apply for HDFC MoneyBack+ Credit Card?

You have the option to apply for this credit card through both online and offline channels. To apply online, you can visit the official bank's website and complete the application form. On the other hand, if you prefer an offline approach, you can visit one of the nearest bank branches and consult with a representative to initiate the application process.

2. Which transactions are not eligible for earning CashPoints via HDFC MoneyBack+ Credit Card?

CashPoints are not available with a MoneyBack+ card for expenses related to fuel purchases, reloading prepaid cards, reloading digital wallets, acquiring vouchers, cash advances, settling outstanding balances, card fees, and other associated charges, as well as Smart EMI transactions.

3. What is the maximum CashPoint value I can earn with HDFC MoneyBack+ Credit Card?

The HDFC MoneyBack+ Credit Card has a monthly limit on the CashPoints you can earn. For transactions that offer 10X CashPoints on certain brands and 5X CashPoints on EMI payments, the maximum cap is set at 2,500 CashPoints per month, as per the card's terms and conditions.

4. Can I withdraw cash using my HDFC MoneyBack+ Credit Card?

Yes, you have the option to withdraw cash using your HDFC Bank MoneyBack+ Credit Card. However, please be aware that the bank imposes a cash advance fee, which amounts to 2.5% of the withdrawn sum or a minimum of Rs. 500, whichever is greater. Due to these higher fees, it is recommended to avoid cash withdrawals using your credit card whenever possible.

5. Can I earn fuel surcharge waiver on every transaction via HDFC MoneyBack+ Credit Card?

You can get a 1% fuel surcharge waiver on transactions ranging from Rs. 400 to Rs. 5,000 with a maximum waiver of Rs. 250 per statement cycle. This waiver applies to purchases at any petrol station in India that accepts this credit card.

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