For the very first time, IDFC First Bank has launched a co-branded credit card. There are two cards launched by IDFC First Bank in collaboration with Hindustan Petroleum Corporation Limited. When we talk about the IDFC Bank HPCL First Power Plus Credit Card, this credit card helps you save up to Rs. 18,500 annually which is apparently enough to buy you around 175+ litres of fuel i.e.; you can get free fuel.
This credit card has many other benefits such as welcome gifts worth Rs. 1,650. There is no joining fee on this card, offer is valid till April 30th, 2023 and after that, an introductory fee of Rs. 499 plus applicable charges will be levied. This card has the most amusing lifestyle privileges such as complimentary domestic airport lounge access, up to 25% off on movie tickets, complimentary roadside assistance, and much more.
IDFC Bank HPCL First Power Plus Credit Card also helps you avail awesome deals and discounts throughout a wide range of popular partnered brands. Not only that but the interest rate for these cards is very low starting from 0.75% to 3.5% per month which makes it 9% to 42% annually.
To understand this credit card in a better way, a detailed view of the features of this card is as follows:
- Joining Fee- Rs. 499 plus applicable taxes
- Renewal Fee- Annual fee of Rs. 499.
- Best Suited For- Fuel
- Reward Type- Reward Points
- Welcome Benefits- Up to Rs. 500 cash back on your 1st HPCL fuel transaction above Rs. 500 and up to 5% cashback (up to Rs. 1,000 capped) on the transaction value of the first EMI.
Rewards and Benefits
- Movie & Dining- 25% off on movie tickets up to Rs. 100 once per month and Rs. 150 discounts on all orders above Rs. 500 with Swiggy.
- Rewards Rate- Save up to 5% as rewards on grocery and utility expenses of up to worth Rs. 2,000 per month, Save up to 5% as a reward on IDFC FIRST FASTag recharge max Rs. 1,000 per month, and 3X rewards on all other retail transactions.
- Reward Redemption- 3X rewards are equal to 3 reward points for every Rs. 150 spent i.e.; 1 RP = Rs. 0.75, HPCL Fuel and LPG – 24 rewards points on every Rs. 150 spent on grocery and utility bill, and IDFC FIRST FASTag recharge – 30 rewards for every Rs. 150 spent.
- Travel- Complimentary domestic airport lounge access once every quarter and Complimentary roadside assistance worth Rs. 1,399 four times a year.
- Golf- NA
- Domestic Lounge Access- Complimentary domestic airport lounge access once every quarter
- International Lounge Access- NA
- Insurance Benefits- The benefit of a personal accident loan cover of Rs. 2,00,000.
- Zero Liability Protection- Card liability is covered for Rs. 25,000 on lost cards.
Fees & Charges
- Spend based Waiver- Rs. 1,50,000 spends in the previous year.
- Rewards Redemption Fee- Rs. 99 on every redemption request
- Foreign Currency Markup- 3.5% on all international transactions
- Interest Rates- 0.75% to 3.5% per month and 9% to 42% annually
- Fuel Surcharge- 1% fuel surcharge waiver (capped at max. Rs. 10,0000 per month).
- Cash Advance Charge- Rs. 199 as a cash advance fee.
- Add-on Card Fee- Nil
Product Details
• Save up to 6.5% on fuel spends with the credit card.
Where you get 4% as a reward on your HPCL fuel and LPG spends (max capped at Rs. 10,000 per month), 1.5% as a payback reward with payment through HP Pay App (capped at max. Rs. 5,000 per month), and 1% fuel surcharge waiver (capped at max. Rs. 10,0000 per month).
• Save up to 5% as a reward on utility and grocery bills (max cap. Rs. 2,000 per month)
• Save up to 5% as rewards on IDFC FIRST FASTag recharge (max cap Rs. 1,000 per month)
• Get 3X rewards on all other miscellaneous retail transactions.
• Get up to Rs. 500 cashback on 1st HPCL transactions of Rs. 500 or above.
• 5% cashback of up to Rs. 1,000 on the transaction value of the first EMI.
• Get up to Rs. 150 discount on orders above Rs. 500 on Swiggy
• Rs. 500 discount on Zoomcars rentals
• Up to 50% discount on domestic and international rental cars through Eco Rent-A-Car and EuroCard.
• Complimentary domestic airport lounge access per quarter (minimum monthly spending of Rs. 5,000)
• Get up to 25% off on movie tickets (Rs. 100 max cap per month)
IDFC HPCL FIRST Power Credit Card – Features and Benefits
Here are the main key feature and benefits provided by the IDFC First Bank –
Welcome Benefits
- You will get up to Rs. 500 cash back on your 1st HPCL fuel transaction above Rs. 500
- Get up to 5% cashback (up to Rs. 1,000 capped) on the transaction value of the first EMI.
Rewards Rate
- Save up to 5% as rewards on grocery and utility expenses of up to worth Rs. 2,000 per month.
- Save up to 5% as a reward on IDFC FIRST FASTag recharge (max cap Rs. 1,000 per month).
- Get up to 3X rewards on all other retail transactions
Movie and Dining
- Up to 25% off on movie tickets up to Rs. 100 once per month
- Get up to Rs. 150 discounts on all orders above Rs. 500 with Swiggy
Reward Redemption
- Here 3X rewards is equal to 3 reward point for every Rs. 150 spent i.e.; 1 RP = Rs. 0.75
- For HPCL Fuel and LPG – 24 rewards points on every Rs. 150 spent on grocery and utility
- For IDFC FIRST FASTag recharge you will get 30 rewards for every Rs. 150 spent.
- Rewards are not applicable on the HPCL fuel and LPG expenses beyond the maximum monthly capped amount.
Travel
- Complimentary domestic airport lounge access once every quarter on minimum monthly spends of Rs. 5,000.
- Complimentary roadside assistance worth Rs. 1,399 four times a year.
- Rs. 500 discount with ZoomCar rentals.
- Up to 50% discount on domestic and international rental cars with Eco Rent-A-Car and EuroCard
- You will also get the benefit of personal accident loan cover of Rs. 2,00,000.
Domestic Lounge Access
- Complimentary domestic airport lounge access once every quarter on minimum monthly spends of Rs. 5,000.
International Lounge Access
- N/A
Insurance Benefits
- Benefit of personal accident loan cover of Rs. 2,00,000.
Zero Liability Protection
- Card liability covered for Rs. 25,000 on lost cards.
Fees & Charges
Joining Fee
Rs. 499 plus applicable taxes but you will get the card at Zero joining fee before 30th April 2023 as an introductory offer.
Renewal Fee
Annual fee of Rs. 499 which can be waived upon reaching the milestone.
Spend-Based Waiver
This annual fee can be waived on crossing Rs. 1,50,000 spends in the previous year.
Reward Redemption Fee
Rs. 99 on every redemption request will be charged.
Foreign Currency Markup
3.5% of the amount on all international transaction
Interest Rates
This is a low-interest rate card starting from 0.75% to 3.5% per month which makes it 9% to 42% annually.
Fuel Surcharge
1% fuel surcharge waiver (capped at max. Rs. 10,0000 per month).
Cash Advance Charge
Rs. 199 will be charged as a cash advance fee.
Add-on Card Fee
No add-on card fee
How to apply for the IDFC Bank HPCL First Power Plus Credit Card?
Here are a few steps which can help you apply for this new IDFC credit card:
- Visit the official website of IDFC first bank.
- Go to the cards section and go to co-branded cards
- Look for IDFC Bank HPCL First Power Plus Credit Card.
- Fill in your details there and then apply.
Conclusion
IDFC Bank HPCL First Power Plus Credit Card is one of the very first credit cards by IDFC first bank which came into existence in collaboration with HPCL. This credit card is introduced in the market by mainly focusing on the market-consuming fuel at a more than average rate.
This card sure is very well suited with fuel but it has benefits proving that it can also help save money through normal shopping. For continuous travelers and people who refill their tanks pretty often, this credit card is a very good approach to saving money. This card not only saves fuel but has a lot of other benefits on Swiggy, movies, and even on rented cars.
