HDFC Bank Biz First Credit Card
MyRupaya Ratings
Product Details
Credit Card Name :
HDFC Bank Biz First Credit Card
Bank Name :
HDFC Bank
Type :
Business Credit Card
Interest Rate :
3.75% monthly, 45.0% annually
Eligibility :
The applicant must be a self-employed Indian citizen.
The applicant must be aged between 21 yrs. to 65 Yrs.
Annual ITR above Rs 6 Lakhs
Pros
Welcome benefit: A gift voucher worth Rs.250 on making one transaction within the first 37 days of card issuance. The gift voucher is redeemable on top brands like Amazon, Swiggy & more.
Reward system: 3% cash points on EMI spend, a maximum of 1,000 cash points/calendar month. Effective cashback rate: 0.45%. 2% cash points on Utility bills, Electronics, SmartPay & Payzapp transactions, a maximum of 500 cash points/calendar month. Effective cashback rate: 0.3%. 1% cash points on all other spends including UPI spends, maximum 500 cash points/calendar month. Effective cashback rate: 0.15%.
Milestone Benefit: Users will earn 2000 cash points every quarter on quarterly spending of INR 75,000 & above ( All retail spending excluding rent and petrol).
Users can maximize business savings by (a) making GST payments. (b) Paying Income Tax/ Advance Tax. (c) Availing up to 40% savings on business travel and software purchases on smartbuy.
UPI payment benefits.
Fuel surcharge waiver: 1% fuel surcharge waiver at all fuel stations across India.
Dining Benefits: Users will get up to 20% savings on all restaurant bill payments with Swiggy Dineout on paying via the Swiggy App.
Users can avail business insurance package starting at an annual premium of Rs.3,785.
Cons
A maximum of 15,000 cash points can be earned in a statement cycle.
A minimum of 2500 cash points is needed to redeem cash points.
Unredeemed cash points will expire after 2 years of accumulation.
No airport lounge access.
Pros & Cons
Welcome Benefits
As a welcome benefit users will get a gift voucher worth INR 250 on making one transaction within the first 37 days of card issuance. This gift voucher can be redeemed on top brands like Amazon, Swiggy & more.
Rewards System
3% cash points on EMI Spends, maximum 1,000 cash points/calendar month. Effective cashback rate: 0.45%.
2% cash points on Utility bills, Electronics, SmartPay & Payzapp transactions, maximum 500 cash points/calendar month. Effective cashback rate: 0.3%.
1% cash points on all other spends including UPI spends, maximum 500 cash points/calendar month.
Effective cashback rate: 0.15%.
A minimum of 2500 cash points is needed to redeem cash points against the statement balance.
A maximum of 15,000 cash points can be earned in a statement cycle.
Unredeemed cash points will expire after 2 years of accumulation
International Forex Markup
3.50%
Welcome Benefits and Reward System
Special Features
Fuel surcharge waiver.
Dining benefits.
Business insurance package
Eligibility Criteria
The applicant must be a self-employed Indian citizen.
The applicant must be aged between 21 yrs. to 65 Yrs.
Annual ITR above Rs 6 Lakhs
Benefits
Great travel benefits.
Great dining benefits.
Business insurance benefits.
Speical Feature, Eligibility and Benefits
How to apply for Credit Card?
Online Application:
Visit the HDFC Bank website: Go to https://www.hdfcbank.com/personal/pay/cards/business-credit-cards/biz-first
Click on the "Apply Now" button.
Fill in the required personal and business details.
Upload the necessary documents (ITR, GST returns, bank statements, etc.).
Submit the application.
Through HDFC Bank Branch:
Visit your nearest HDFC Bank branch.
Request an application form for the Biz First Credit Card.
Fill in the required details and submit it along with the necessary documents.
Contact Details
Toll-Free: 1800 202 6161\ 1860 267 6161
Email: customerservices.cards@hdfcbank.com
Account Opening and Procedure
Recommended Credit Cards
Pros:-
Change the text to include your own content. Adjust the font, size or scale to customize the style.
Cons:-
Welcome benefit: A gift voucher worth Rs.250 on making one transaction within the first 37 days of card issuance. The gift voucher is redeemable on top brands like Amazon, Swiggy & more.
Reward system: 3% cash points on EMI spend, a maximum of 1,000 cash points/calendar month. Effective cashback rate: 0.45%. 2% cash points on Utility bills, Electronics, SmartPay & Payzapp transactions, a maximum of 500 cash points/calendar month. Effective cashback rate: 0.3%. 1% cash points on all other spends including UPI spends, maximum 500 cash points/calendar month. Effective cashback rate: 0.15%.
Milestone Benefit: Users will earn 2000 cash points every quarter on quarterly spending of INR 75,000 & above ( All retail spending excluding rent and petrol).
Users can maximize business savings by (a) making GST payments. (b) Paying Income Tax/ Advance Tax. (c) Availing up to 40% savings on business travel and software purchases on smartbuy.
UPI payment benefits.
Fuel surcharge waiver: 1% fuel surcharge waiver at all fuel stations across India.
Dining Benefits: Users will get up to 20% savings on all restaurant bill payments with Swiggy Dineout on paying via the Swiggy App.
Users can avail business insurance package starting at an annual premium of Rs.3,785.
A maximum of 15,000 cash points can be earned in a statement cycle.
A minimum of 2500 cash points is needed to redeem cash points.
Unredeemed cash points will expire after 2 years of accumulation.
No airport lounge access.
Federal Bank Wave Credit Card
The Federal Bank Wave Credit Card is a decent option for those looking for a free, no-frills credit card for domestic transactions with a focus on utility bill payments through UPI. However, if you travel internationally frequently, require a wider range of reward redemption options, consider other cards.
Abhijeet Saxena
Abhijeet Saxena
Nalsar University of Law
Ex- Senior Associate, Shardul Amarchand Mangaldas, Delhi
Ex - Khaitan & Co. Bengaluru,
Ex - National Stock Exchange, Mumbai,
Ex - Argus Partners, Mumbai
Product Review
Fees & Charges
Joining fee: INR 500/- plus taxes.
Annual fee: INR 500/- plus taxes.
Foreign currency markup: 3.50%.
Fuel surcharge: 1% subject to a minimum transaction of INR 400 and a maximum transaction of INR 5000.
Cash advance fee: 2.5% or INR 500 whichever is higher.
Late payment charges: INR 100 to 1300.
Reward redemption fee: INR 99 per redemption request.
Interest rate: 3.75% monthly, 45.0% annually.
Fuel Surcharge
Fuel surcharge is 1% at all fuel stations across India, only for a minimum transaction of ₹400 and a maximum transaction of ₹5000. The maximum cashback per statement cycle is INR 250.
Billing Cycle
Up to 55 days