HDFC Bank is the largest private sector bank in India and it recently introduced the HDFC Bank UPI RuPay Credit Card that allows cardholders to link the card with their UPI ID and make transactions on UPI apps like Paytm, Mobikwik, PhonePe, Google Pay, etc. This is the first time that a credit card can be linked with UPI and used to make transactions.
This card is launched by HDFC Bank to offer both convenience and easy credit to their customers as it allows safe and secure transactions on BHIM and other UPI apps. The UPI RuPay credit card offers up to 3% cashback on both UPI and regular transactions on certain spend categories. One thing about this card is that you just get it virtually and no physical card will be delivered to you.
- Joining Fee- Rs. 250 plus taxes
- Renewal Fee- Rs. 250 plus taxes
- Best Suited For- Shopping
- Reward Type- Reward Points
- Welcome Benefits- NA
Rewards and Benefits
- Movie & Dining- 3% Cashpoints on Dining spends
- Rewards Rate- 3% Cashpoints on groceries, dining, and supermarket spends, 2% Cashpoints on utility spends- 1% Cashpoints on other spends, with some exclusions
- Reward Redemption- The Cashpoints can be redeemed against card statement balance, hotel and flight ticket bookings, on the Smartbuy rewards portal, where 1 Cashpoints = Rs. 0.25
- Travel- NA
- Golf- NA
- Domestic Lounge Access- NA
- International Lounge Access- NA
- Insurance Benefits- NA
- Zero Liability Protection- Cardholders are not liable for fraud transactions if they report about the card loss or theft in a timely manner
Fees & Charges
- Spend based Waiver- Renewal fee is waived off on spending Rs.25,000 or more in the previous year
- Rewards Redemption Fee- Rs. 99 plus taxes
- Foreign Currency Markup- 3.5% of the transactions amount
- Interest Rates- 3.6% per month or 43.2% per annum
- Fuel Surcharge- NA
- Cash Advance Charge- 2.5% of the withdrawal amount or Rs. 500, whichever is higher
- Add-on Card Fee- Nil
Product Details
- 3% Cashpoints on supermarket, dining, grocery, and PayZapp spends
- 2% Cashpoints on Utility spends
- 1% Cashpoints on other spends excluding some spend categories
- Up to 50 days of interest-free credit period
- Renewal fee waiver on spending Rs. 25000 or more in the previous year
HDFC Bank UPI RuPay Credit Card – Features and Benefits
The UPI RuPay Credit Card by HDFC Bank is the first one that can be linked to your UPI ID and used to make payments on apps like Paytm, PhonePe, Mobikwik, etc. You also get cashback on both regular as well as UPI transactions with this credit card. Let’s know more about the features and benefits of this card –
Virtual Card
The UPI RuPay credit card is only issued virtually and you will not get any physical credit card to use. Your card will automatically be registered in your HDFC Bank MyCards section so that you can check out its details and use it conveniently whenever you wish to.
Link with UPI Applications
You can easily link the credit card with UPI applications like Mobikwik, Paytm, BHIM, PhonePe, etc. and be rewarded for UPI payments made with the card. Here is how you can link your card with the app –
- Open Paytm, PhonePe, Google Pay, or any other UPI app
- Use your credit card PIN to register the card in the app
- Make UPI payments with your card and earn Cashpoints
Reward Points
You earn Cashpoints on both regular as well as UPI payments made with the card –
- 3% Cashpoints on your grocery, supermarket, dining, and PayZapp spends, capped at 500 Cashpoints maximum every month
- 2% Cashpoints on utility spends, capped at 500 Cashpoints maximum every month
- 1% Cashpoints on other spends, capped at 500 Cashpoints maximum every month.
Exclusions on Reward Points
CashPoints shall not be eligible for the following spends on the card,
- Fuel Spends
- Rent Payments and Govt Related Transactions
- Wallet loads / Gift or Prepaid Card load/ Voucher purchase
- Cash Advances
- Payment of Outstanding Balances
- Payment of card fees and other charges
- All types of EMI transactions
Rewards Redemption
You can redeem Cashpoints against your card statement balance at 1 Cashpoint = Rs. 0.25, provided you have a minimum of Cashpoints worth Rs. 500. The maximum number of Cashpoints you can redeem on this category is 50000 per month.
Redeem Cashpoints against flight/hotel bookings or against gift vouchers or products at the Smartbuy rewards portal at 1 Cashpoint = Rs. 0.25. For flight/hotel bookings, you can redeem 50% of the value, and for products and vouchers, you can redeem 70% of the value with Cashpoints. The rest amount has to be paid with your credit card. Also, you can redeem 50000 Cashpoints maximum per month on these categories
Spend-Based Waiver
You can get the renewal fee of the credit card waived off by spending Rs. 25,000 or above in the previous year.
Interest-Free Period
You get around 50 days of interest-free credit period on the credit card from the purchase date. It depends on when the merchant submits your charge.
HDFC Bank UPI RuPay Credit Card – Fees and Charges
Let us take a look at the fees and charges associated with the HDFC Bank UPI RuPay credit card –
- The joining and renewal fee of the credit card is Rs. 250 plus taxes
- The card charges an interest rate of 3.6% per month and 43.2% per annum
- The card has a forex markup charge of 3.5% per transaction
- The cash withdrawal fee with the card is 2.5% of the amount or Rs. 500, whichever is higher
Conclusion
If you are someone who regularly uses UPI for payments then you can certainly opt for the RuPay credit card as it can be linked to UPI apps and can be used to make secure transactions. Available at a low annual fee, you get rewarded in the form of Cashpoints whenever you make regular or UPI transactions using the credit card.
You can earn 3% on your groceries, dining, and supermarket spends and 2% on your utility spends. Also, you can get a renewal fee waiver on spending Rs. 25000 or more in the previous year. The reward points earned by you can be redeemed against a number of choices at 1 Cashpoint = Rs. 0.25. Therefore, the UPI RuPay credit card is a great choice for those who are regular UPI users.
