Apart from the co-branded credit cards that the bank offers in collaboration with another brand, HDFC credit cards can be classified into two categories on the basis of their reward structure- Reward Points based credit cards and Cashback based credit cards.
HDFC Reward Points Credit Cards
As is obvious from the name itself, Reward Points based credit cards earn Reward Points that are redeemable for AirMiles, flight/hotel bookings, products/vouchers and cashback (adjustment against the card’s statement balance). The monetary value of the Reward Points is different for different credit cards and also varies depending upon the type of redemption, for example, for a particular credit card, 1 Reward Point might be worth Re. 1 for redemption against flight ticket bookings, while it might be worth just Rs. 0.30 if adjusted against the card’s monthly statement balance (i.e. redemption as cashback). Now, we will see the value of Reward Points in rupees for some of the popular HDFC Bank credit cards-
HDFC Infinia Metal Edition Credit Card
It is the most premium credit card offered by HDFC. The card earns 5 Reward Points per Rs. 150 spent and up to 10x Reward Points on SmartBuy. The Reward Points earned on the Infinia Credit Card can be redeemed for AirMiles, flight/hotel bookings, products/vouchers amd Apple/Tanishq vouchers. The following table shows the value of the Reward Points earned on HDFC Infinia Credit Card in rupees for different redemption categories-
|Value of 1 HDFC Infinia Reward Point|
|Hotel/Flight (SmartBuy)||Hotel/Flight (SmartBuy)||Hotel/Flight (SmartBuy)||Hotel/Flight (SmartBuy)||Hotel/Flight (SmartBuy)|
|Re. 1||Re. 1||Re. 1||Re. 1||Re. 1|
HDFC Diners Club Black Credit Card
It is the second most premium offering by the bank after Infinia. Just like Infinia, Diners Club Black Credit Card also earns 5 Reward Points per Rs. 150 spent. The Reward Points earned on the Diners Club Black Credit Card can also be redeemed for AirMiles, flight/hotel bookings, products/vouchers and cashback. The redemption rate of Reward Points on HDFC Diners Club Black Credit Card is as per the following table-
|Value of 1 HDFC Diners Club Black Reward Point|
|Flights/Hotels on SmartBuy||Flights/Hotels on SmartBuy|
|Product Catalogue (vouchers/products)||Product Catalogue (vouchers/products)|
HDFC Regalia Credit Card
HDFC Regalia Credit is one of the most popular lifestyle credit cards in the Indian credit card market. Regalia Credit Card earns 4 Reward Points per Rs. 150 spent and up to 10x Points on SmartBuy. The Reward Points earned on the Regalia Credit Card can be redeemed for AirMiles, flight/hotel bookings, products/vouchers or cashback. The monetary value of Reward Points is as per the table below-
|Flights/Hotels on SmartBuy||Rs. 0.50|
|Product Catalogue (vouchers/products)||Up to Rs. 0.35|
HDFC IndiGo Co-branded Credit Cards
HDFC Bank offers two travel credit cards in partnership with IndiGo airline- IndiGo 6E Rewards XL HDFC Bank Credit Card and IndiGo 6E Rewards HDFC Credit Card. As these are IndiGo cobranded credit cards, the cardholders earn Reward Points as IndiGo 6E Rewards which can be redeemed for booking IndiGo flight tickets or IndiGo add-ons.
How to Redeem HDFC Credit Card Reward Points
The Reward Points earned on your HDFC Bank credit card can be redeemed for flight/hotel bookings, AirMiles of partner airlines, for purchasing products/vouchers from the bank’s catalog, cashback (adjustment against the card’s statement balance) and Apple/Tanishq vouchers (only applicable for the Infinia Credit Card). HDFC Reward Points can be redeemed only up to two years from the date of accrual and expire thereafter. We will now discuss how you can redeem the Reward Points on your HDFC Bank credit card.
Redemption of Reward Points for Flight/Hotel Bookings
The Reward Points earned on your HDFC Bank Credit Card can be redeemed for flight/hotel bookings via the flight/hotel bookings page via SmartBuy or through the bank’s netbanking service. It is worth noting that only a maximum of 70% of the total amount can be paid via SmartBuy and the rest of the amount is to be paid by the cardholder using their HDFC credit card.
Redemption of Reward Points for AirMiles
HDFC Reward Points can also be redeemed against partner airlines’ AirMiles. You can redeem the Reward Points earned on your HDFC Bank credit card against Club Vistara Points, Kris Flyer Miles and Intermiles.
To redeem the Reward Points on your HDFC credit card, you must first register for the airline’s frequent flyer program. Once registered, you can transfer the Reward Points accrued on your HDFC credit card as Airmiles the partner airline’s frequent flyer program through HDFC credit card net banking by following the steps given below-
- Go to the HDFC Internet Banking portal and log in with your credentials.
- Click/tap on Credit Cards-> Enquire-> Redeem Reward Points. A new window will open.
- Now if you have not registered for the Frequent Flyer program you wish to redeem your Reward Points against, you must first register for the same by going to the Frequent Flyer Registration in the AirMiles menu.
- If you have already registered for any of the Frequent Flyer programs, click/tap on AirMiles Redemption.
- Select the airline, your frequent flyer number, and enter your name and your credit card’s expiry date on the next page that opens. Your HDFC Reward Points will be transferred to your Frequent Flyer account.
Redemption of Reward Points for products/vouchers
The Reward Points earned on HDFC Infinia, Diners Club Black and Regalia credit cards can be redeemed for vouchers/products on the SmartBuy portal, while those earned on other HDFC credit cards can be redeemed only via HDFC internet banking. To redeem the Reward Points on SmartBuy-
- Visit the SmartBuy home page and click/tap on Instant Vouchers at the top of the window.
- A new window will open. Here you can see all the brands whose gift vouchers are available on SmartBuy. Select the brand whose voucher you wish to purchase.
- On the next page, choose the denomination of the voucher and add it to your cart.
- Now check out using your Reward Point balance in your credit card account.
To redeem the HDFC Reward Points on your other HDFC Bank credit cards-
- Visit the HDFC net banking portal and log in with your credentials.
- Now under the Enquire tab, click/tap on Redeem Reward Points.
- Choose to redeem the Reward Points for products/vouchers and select the product/voucher of your choice and check out using the Reward Points balance in your credit card account.
Redemption of Reward Points for Apple/Tanishq Vouchers
This redemption is available only on the Infinia and Infinia Metal Edition Credit Card. You can redeem the Reward Points earned on your HDFC Infinia Credit Card for Apple/Tanishq vouchers through HDFC net banking.
Redemption of Reward Points for Cashback
You can also convert the Reward Points that you have earned on your HDFC credit card into cashback that is adjusted against the next month’s statement of your credit card. This option is available through HDFC internet banking service. To redeem your HDFC credit card Reward Points for cashback-
- Login to HDFC internet banking with your credentials.
- Now under the Enquire menu, select Redeem Reward Points and select Cashback as the redemption option.
- On the next page, you will be able to see the total number of Reward Points in your credit card account and the INR equivalent of the same.
- Enter the number of Reward Points you wish to redeem in the designated field and click/tap on Proceed.
HDFC Cashback Credit Cards
Cashback Credit Cards by HDFC Bank earn cashback in form of CashPoints, which can also be redeemed for flight/hotel bookings, AirMiles, product catalogs and cashback. The redemption value of CashPoints for cashback (adjustment against the card’s statement balance) is usually more than that of Reward Points. Following are some of the most popular HDFC credit cards with a cashback structure-
HDFC Millennia Credit Card
Targeted towards millennials, the Millennia Credit Card by HDFC is one of the most popular offerings by the bank in the mid-range segment. The card earns 5% cashback at partner online brands including Amazon and Flipkart and 1% cashback on all other spends with the card. The cashback is credited as CashPoints that are redeemable for a variety of spends. The following table shows the redemption rate of CashPoints against different redemption categories-
|Product Catalog||Flights/Hotels on Smartbuy||Cashback||Airmiles|
|Rs. 0.30||Rs. 0.30||Re. 1||0.30 AirMiles|
HDFC MoneyBack+ Credit Card
HDFC MoneyBack+ Credit Card is an entry-level cashback credit card by the bank. MoneyBack+ Credit Card earns 2 CashPoints per Rs. 150 spent with the card. You earn 5x CashPoints on EMI transactions at partner outlets and 10x CashPoints on partner brands including Amazon and Flipkart. Just like other HDFC credit cards, the CashPoints earned on the MoneyBack+ Credit Card can also be redeemed for AirMiles, products/vouchers, flight/hotel bookings and cashback. The monetary value of the CashPoints earned on HDFC MoneyBack+ Credit Card is Rs. 0.25 irrespective of the redemption category.
HDFC EasyEMI Credit Card
The EasyEMI Credit Card is another entry-level cashback credit card by HDFC Bank. The card earns you a cashback of 5% on online spends at partner merchants including Amazon and Flipkart, 2.5% cashback on all other online purchases and 1% cashback on all offline spends with the card. The cashback, like other cashback-based cards by HDFC, is credited as CashPoints to the credit card account which are redeemable as per the following table-
|Value of 1 HDFC EasyEMI CashPoint|
|Product Catalog||Product Catalog||Product Catalog|
|Rs. 0.30||Rs. 0.30||Rs. 0.30|
As you can see, almost all credit cards by HDFC Bank offer at least a decent reward rate depending upon their annual fee and eligibility criteria. Premium credit cards that come with a higher annual fee obviously offer a higher reward rate, while entry-level cards that come with a nominal annual fee offer a much lower reward rate. The monetary value of Reward Points earned on two of the bank’s most premium credit cards- Infinia and Diners Club Black is up to Re. 1/Point. CashPoints earned on the Millennia Credit Card are also valued at Re. 1 per CashPoint.
Credit cards with a Reward Points structure always offer a lower reward rate on redemption of Reward Points as cashback, while those credit cards that earn CashPoints, usually offer a higher reward (or an equal reward rate) on redemption of the Reward Points against cashback (adjustment against the card’s monthly statement balance).