HDFC Bank MoneyBack+ Credit Card Review

HDFC MoneyBack+ is an entry level credit card that provides a good cashback reward rate on your spends.

HDFC MoneyBack+ credit card comes with an annual fee of Rs. 500. However, in most cases, the card is issued as a lifetime free card. You can avail this lifetime free card by meeting your spending conditions for the first 90 days of your card membership.

Key Highlights of HDFC MoneyBack+ Credit Card

500 CashPoints as a welcome gift on activating your HDFC credit card.
Earn 2 CashPoints for every Rs. 150 spent with the card (except for fuel, wallet reloads, prepaid card reloads and voucher purchases).
Earn 10X CashPoints on partner brands such as Amazon, Flipkart, Reliance Smart Store, Big Basket, and Swiggy.
Get 5X CashPoints for EMI transactions at select merchant outlets.
Enjoy a gift voucher worth Rs. 500 on spends of Rs. 50,000 in a calendar quarter (max benefit of Rs. 2,000 in a year).
Avail of a waiver on the annual fee on an annual expenditure of a minimum of Rs. 50,000.
Get up to 15% off on dining at over 2,000 premium restaurants in select cities.
Receive a 1% waiver on fuel surcharge.

Fees & Charges of HDFC MoneyBack+ Credit Card

Joining fees: Rs. 500
Annual Fees: Rs. 500
Spend Based waiver: Annual fees waived off on spending Rs. 50,000 or more in the previous year.
Welcome Bonus: 500 CashPoints, Also get 500 cash points on every year card renewed.

HDFC MoneyBack+ Credit Card CashPoints/Cashback

Reward Points/ CashPoints

The credit card offers 20 Reward Points for every Rs. 150 spent which is 3.33% reward rate. (1CP = 25 paise)
The validity period of cash points is 2 years from the date of accumulation.
No Cash Points are accrued on fuel transactions, wallet reloads, prepaid card reloads, and voucher purchases.

Spend Category	Rewards	Maximum Capping	Cashback Return Value
Spend on partner brands such as Amazon, Flipkart, Reliance Smart Store, Big Basket, and Swiggy.	20 CashPoints per Rs. 150 spent	2500 points per month	3.3%
EMI spends	10 CashPoints per Rs. 150 spent	2500 points per month	1.7%
All other spends	2 CashPoints per Rs. 150 spent	No Max Cap	0.3%

Cashback Redemption Value

You need to minimum cashpoints required for redemption are 2000.
You can redeem the cashpoints for statement credit or flights/hotel booking on Smartbuy.
Redemption for flights or hotels on Smartbuy may not be the best option as the same value can be obtained by opting for statement credit.

Redemption Category	Value of 1 CP
Cashback	1 Cash Point = Re. 0.25
Flights/Hotels on SmartBuy (Max 50% of booking amount)	1 Cash Point = Re. 0.25
Product Catalouge (vouchers/products)	1 Cash Point = Re. 0.25
Airmiles	1 Cash Point = 0.25 AirMile

HDFC Smartbuy Rewards Program

Like other HDFC Bank Infinia credit cards, HDFC MoneyBack+ credit card is also eligible for the Smartbuy platform cashback program. However, the maximum cashback limit for Smartbuy on this card is capped at Rs. 1000 per calendar month.

Shopping Category	Cashback
Flights (Cleartrip/Yatra), Hotels (Cleartrip/Makemytrip), Amazon, IRTC, Redbus, Instant Vouchers, Apple Tresor.	5%
Flipkart	1%

Benefits of HDFC MoneyBack+ Credit Card

Milestone Benefits

You can earn a gift voucher worth Rs. 500 on expenditure of Rs. 50,000 or more in a quarter, which means you can get gift vouchers worth Rs. 2,000 in a year.
Additionally, you get 1% extra return over the regular cashback.
You can choose gift vouchers like Big Basket, BookMyShow, Uber, Pizza Hut and PVR.

Dining Benefits

Avail discounts up to 15% on dining at more than 2,000 premium restaurants by paying through your HDFC MoneyBack+ credit card.

Fuel Surcharge Waiver

Enjoy a 1% waiver on fuel surcharge for fuel purchases with maximum waiver cap is Rs. 250 per billing cycle. If you want to get maximum fuel benefits you can apply the best fuel credit card in India.

Forex Markup Fees

3.5 % of the transacted amount.

Rewards Redemption Fee

Rs. 99 per redemption request.

Eligibility Criteria for HDFC MoneyBack+ Credit Card

The HDFC MoneyBack+ Credit Card is advantageous as it can be issued even to customers without a credit score.

For salaried individuals

The applicant must be an Indian resident.
The applicant’s age should be between 21 and 60 years.
The applicant should have a monthly salary of at least Rs. 25,000.

For self-employed individuals

The applicant must be an Indian resident.
The applicant’s age should be between 21 and 65 years.
The applicant’s annual income as per ITR should be above Rs. 6.00 lakhs.

Documents Required

Identity Proof – PAN Card, Passport, Aadhar Card, Driving Licence, Voters’ Id.
Address Proof – Utility bills, Aadhar Card, Passport, Driving Licence.
Income Proof – Latest bank statements/3 months’ salary slips, and latest ITR.

Best Alternate

If you already have an HDFC MoneyBack+ credit card, you should upgrade your credit card with HDFC Millennia for a better cashback return. Millennia offers you 5% cash back on Amazon, Flipkart, Myntra, BookMyShow, Swiggy, Zomato, Sony LIV, and Uber.

For beginners, ICICI Amazon Pay credit card with zero membership fee offers a higher cashback return rate of 5% on Amazon spends.