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HDFC Bank launched the UPI Rupay Credit Card that works with the motto ‘Credit + Convenience’, where the credit card is linked to the cardholder’s UPI ID and can be used to make UPI transactions. HDFC Bank is the first private sector financial institution to make their credit card live on UPI.
By linking their credit card with their UPI ID, cardholders can use the RuPay credit card with the BHIM and all other UPI-enabled applications. Linking of the credit card with a UPI ID will allow secure and safe transactions by HDFC Bank customers.
Cardholders will get reward points for UPI payments with this credit card and HDFC Bank launches the UPI RuPay card virtually and no physical card is sent.
Features & Benefits
Let’s know about the features and benefits associated with this credit card .
Renewal Offer
The UPI RuPay credit card comes with a joining and renewal fee of Rs. 250 plus taxes. However, you can get a renewal fee waiver on spending Rs. 25,000 or more in the card anniversary year.
Linking with UPI Apps
The HDFC Bank RuPay credit card can be linked to multiple UPI apps like Paytm, MobiKwik, BHIM, etc. and you can get reward points on your UPI transactions made with your credit card. Follow these steps to link your credit card with your UPI apps –
- Open the UPI apps like Paytm, BHIM, MobiKwik, etc.
- Register your UPI RuPay credit card through your PIN.
- Make UPI transactions through your credit card and earn several benefits
Reward Points Accrual
- Get 3% Cashpoints on Supermarket, Grocery, Dining, and PayZapp spends, capped at a maximum of 500 Points per month.
- Get 2% Cashpoints on your Utility spends capped at a maximum of 500 points per month.
- Get 1% Cashpoints on all other spends excluding fuel, EMI, wallet reloads, rent, and government categories. The rewards are capped at 500 points per month. These reward points are valid for both UPI as well as normal spends made by the UPI RuPay card.
Reward Points Redemption
- You can redeem Cashpoints against the card balance, where 1 Cashpoint = Rs. 0.25. You can redeem a maximum of 50,000 Cashpoints per month against the card balance and must have atleast Rs. 500 worth of Cashpoints to make the redemption.
- You can redeem Cashpoints against Hotel/Flight bookings and against products or vouchers at SmartBuy portal, where 1 Cashpoint = Rs. 0.25. You can redeem 50% of the value for hotel/flight bookings and 70% of the value for products or vouchers, the rest amount must be paid with the credit card. Also, you can redeem a maximum of 50,000 Cashpoints per month on these categories.
- The Cashpoints earned by you are valid for 2 years from the transaction date after which they will expire.
Interest Free Period
With the UPI RuPay credit card, you get 50 days of interest free period, from the transaction date. It depends on when the merchant submits the charge.
Bottom Line
With the UPI RuPay credit card, HDFC Bank is now the first private bank to allow secure and safe UPI payments through a credit card. Cardholders just have to link their credit card with their UPI apps and they can start making payments and earning reward points for it.
The linking of credit card with UPI apps will allow customers more convenience and flexibility to make payments and get rewarded for it. With the UPI RuPay credit card, people can make QR-based payments directly with their credit card on the UPI apps.
Also, this change will boost the adoption of UPI across multiple businesses and personal users thanks to its seamless payment experience.
