Are you looking for a budget credit card that provides you premium benefits, which is more than value for money, then look at this article. Here in this article, we will talk about a credit card that can fulfill this requirement. In today’s article, we are going to talk about the HDFC Business Platinum Credit Card. This is one of the best credit cards which provide cashback, reward points, international benefits, etc. many more in a single card which you can issue with a shallow price point.
Later in this article, we discuss all the features, benefits, charges, and many more that you should know before issuing this card. So if you think about issuing this card now or in the future, the review in this article will be beneficial.
Key Features And Highlights
- This card is famous for giving cashback, benefits on your international spending, airport lounge access, and many more at a deficient charge. We can say that this card provides premium class features on a significantly lower budget on the other ward.
- Here you can join the service by just paying Rs. 299/- and additional GST charges as per rule of Govt. of India. Also, the company charges the same amount of rupees from the second year onward as an annual fee.
- Now let’s discuss the cashback that you get after joining the service. If your account balance is Rs. 50,000/- or more than it, then you earn a 1% cashback from all the retailer shops by just using this card. If your minimum balance is Rs. 10,000/- only then also you earn cashback from all retail expenses, and here you get 0.5% as a cashback amount.
- Besides this, the company provides a waiver on your fuel surcharge. If you use this card on the fuel transaction, you get these features. Using this feature, you also save some money from your essential spending.
- This card service also provides airport lounge access, Zero liability charges, and many more to their cardholders. Now you can check the following table for your better understanding.
The reward points system is also imposing. You can earn cashback by just using this card at your daily expanse. When you use this card on various spending, you get a 1% cashback when your minimum account balance is Rs. 50,000, and if your minimum balance is Rs. 10,000, you get a 0.5% cashback on every spends.
Who Should OPT For This Credit Card?
One of the most important questions that may come to your mind is who should opt for this credit card. If you are looking for a credit card at a very affordable price point but want some premium benefits, you should go for this card. This card is truly a value for a money credit card where you get some premium benefits by just paying a minimal amount.
What Makes This Credit Card Better From Other Credit Cards?
This card is not a premium card that provides you with hundreds of benefits. But this is the card that provides you with some basic benefits and some specific premium benefits with a meagre annual and renewal fee. That’s why almost every general Indian citizen can afford this card. And this is the area where it beat almost every card available in the market with a higher cost.
Features And Benefits
Let’s talk about the features and benefits of this card. This is the most important segment from which you can decide whether you should issue this card. Here you get all the benefits which actually worth more than enough in this price segment. Now, check the following points, from where you come to know about all the company’s features and benefits to their cardholders.
This is the most interesting and key feature of this card. When you use this card on various spending, you get a 1% cashback when your minimum account balance is Rs. 50,000, and if your minimum balance is Rs. 10,000, you get a 0.5% cashback on every spends.
ii. Cashback On Your International Spend
This is also an imposing feature that helps a lot of foreign travellers to save their money. If you spend Rs. 10,000 or more in a statement cycle, then you get a 1% cashback on your total spending amount.
iii. Annual Fee Waiver
If the total transaction amount is Rs. 30,000 or more than in a year by using this card, you get the waiver on your annual fee. This is also a handy feature that the company provides to its cardholders.
iv. A Waiver On Fuel Surcharge
If you use this card on your fuel transaction, you get a waiver on your fuel transaction. If the total amount of transaction is in between Rs. 400-5000, then you get a waiver on fuel surcharge. Here you get up to Rs. 500 discount in a month.
v. Airport Lounge Access
The cardholders get exclusive deals and offer on the airport lounge. Here the cardholders get access to use the airport lounge around the whole of India.
vi. Foreign Currency Mark-Up Fee
Here you also get the benefit of foreign currency transactions. But for this, you have to pay a 3.5% mark-up fee on your total transaction amount.
vii. Extra Benefit On International Spend
You can also use this card for your international spending. If you spend Rs. 10,000 or more than 10,000, you get a minimum of 1% cashback on your total transaction amount. But this offer is valid on the transaction of each statement cycle.
viii. Card Lost Liability
This is another great feature that the company provides to its cardholders. If you lost your card mistakenly, you have to contact the HDFC bank’s customer care immediately. If you contact customer care within one day, then you carry zero liability on your lost card.
ix. Pay Utility Bills
Using smart pay with your HDFC Business Platinum Credit card, you can enjoy cashback features and get credit free period. Using Visa bill pay now, you have to face no headache of offline bill payments, fill up the forms or writing cheques, etc.
This is one of the most important segments that you should check carefully before issuing any card. This paragraph talks about all kinds of fees you have to pay before or after joining the service.
Here check the below table where we discuss all kinds of charges related to this card service.
Eligibility And Required Documents
If you want to apply for this card, the first criteria is that you have to be an Indian resident. And besides this, the applicant age must be between 18-65 years. Here is the table where we discuss the eligibility criteria.
How To Apply For This Credit Card?
The application process is straightforward, like other credit cards which belong to this bank. You can apply it both online and offline. If you want to apply online, you have to go to the official website of HDFC bank. Here you find all the guidelines and all related to the application process. Then fill the application form carefully with your proper information and finally submit it for further procedure. That’s it. After that, the bank officials will contact you via your given mobile number or your Email id.
You can also apply it offline. You have to visit the nearest branch of HDFC bank, and here the bank officials help you in this process.
1. What is the rate of interest applicable for revolving credit balance on it?
The rate of interest is 3.4% per month at the time of issue. But later it is changeable as per your spending.
2. How can one pay the HDFC business platinum card membership fee?
The fee for the first year of membership is included in your first billing statement.
3. What is the rate of foreign exchange mark-up fee on this card?
The interest rate is 3.5% on your total transaction amount.
4. What I have to do if my card is stolen or lost?
If your card is lost or stolen, you have to contact the customer care service of HDFC bank immediately. By informing them, they take the necessary actions immediately and block the service of your card instantly.
So, that’s the overall discussion of this card. By reading the whole article, I hope you come to know the features, benefits, advantages, and disadvantages of this card. But the one thing that we have to say to you is that if your card budget is low, you want some premium-like features, this card is the ultimate solution. Here you get some very premium features in a shallow price segment that any other credit cards are available in the market.
That’s all for today. Stay tuned with us for getting such more interesting card reviews.