By Divya Shokeen
Updated On September 18, 2021

HDFC Bank Freedom Credit Card is a basic entry-level credit card by HDFC Bank targetted primarily at first time cardholders. It is a Reward Points based card and comes with a nominal membership fee of just Rs. 500 per annum. You can also get the renewal fee waived off on minimum spends of Rs. 50,000 in an anniversary year. You earn 1 Reward Point per Rs. 150 spent with this card and extra cashback on PayZapp and SmartBuy and on dining, movies, railway, groceries, and taxi spends. Read on to learn more about this entry-level offering by HDFC.

hdfc bank freedom credit card

Best Suited For

Shopping |

Joining Fee

Rs. 500 (plus applicable taxes)

Reward Type

Reward Points |

Product Details

  • Complimentary 500 Reward Points as a welcome benefit and every year the card membership is renewed.
  • Gift voucher worth Rs. 1,000 of the minimum annual expenditure of Rs. 90,000.
  • 25X Reward Points on birthday spends (maximum of 3000 bonus RPs).
  • 10X Reward Points on PayZapp and SmartBuy spends.
  • 5X Reward Points on spends on dining, movie, groceries, railway, and taxis.
  • 1 Reward Point per Rs. 150 on all other spends with the card.

Rewards and Benefits

Welcome Benefits

500 Reward Points as a welcome benefit

Movie & Dining

5X Reward Points dining and movie spends

Rewards Rate

1 Reward Point per Rs. 150 spent with the card, 25X Reward Points on birthday spends, 10X Reward Points on PayZapp and SmartBuy spends, 5X Reward Points on dining, movies, groceries, railway and taxi spends

Reward Redemption

The accumulated Reward Points can be redeemed for cashback (1 Point = 10 p), product catalog (1 Point = up to 15 p) or Flight and Hotels on Smartbuy (1 point = 10p).

Travel

N/A

Golf

N/A

Domestic Lounge Access

N/A

International Lounge Access

N/A

Insurance Benefits

N/A

Zero Liability Protection

Cardholder shall not be liable for any fraudulent transaction made with the card post reporting the loss of card to the bank

Fees & Charges

Joining Fee

Rs. 500 (plus applicable taxes)

Renewal Fee

Rs. 500 (plus applicable taxes)

Spend based Waiver

Renewal fee waived off if a minimum of Rs. 50,000 were spent in the previous year

Rewards Redemption Fee

Rs. 99 per redemption request (plus applicable taxes)

Rewards Redemption Fee

Rs. 99 per redemption request (plus applicable taxes)

Foreign Currency Markup

3.5% on the conversion amount (plus applicable taxes)

Interest Rates

3.6% per month (or 43.2% per annum)

Fuel Surcharge

1% fuel surcharge waived off at all filling stations across India for transactions between Rs. 400 and Rs. 5,000 (max waiver capped at Rs. 250 per month)

Cash Advance Charge

2.50% of the withdrawn amount (subject to a minimum charge of Rs. 500)

Add-on Card Fee

Nil

HDFC Bank Freedom Credit Card Welcome/Renewal benefit:

  • Get 500 bonus Reward Points as a welcome gift on the realization of the joining fee.
  • Get 500 bonus Reward Points every year the card membership is renewed, subject to realization of the membership fee.

HDFC Bank Freedom Credit Card Rewards:

  • 1 Reward Point per Rs. 150 spent with the card.
  • 25X Reward Points on birthday spends (max 3,000 additional Reward Points).
  • 5X Reward Points on dining, movies, groceries, railways and taxi spends.

Milestone Benefits:

  • Gift voucher worth Rs. 1,000 on the annual expenditure of Rs. 90,000 with the card.
  • Annual membership fee of Rs. 500 is waived off on a minimum annual expenditure of  Rs. 50,000.

Reward redemption:

  • The Reward Points earned on the HDFC Bank Freedom Credit Card can be redeemed for cashback, products (from the HDFC product catalog), or hotel/flight bookings. The redemption rate on different categories of spends is as per the following table-
Monetary value of Reward Point (in Rs)
Product Catalogue Flights/Hotel bookings (via SmartBuy) Cashback
Up to 0.15 0.10 0.10
  • A minimum of 2,500 Reward Points (in multiples of 500) is required for redemption against cashback.
  • You can pay only up to 50% of the transaction amount with Reward Points while booking flights/hotels on SmartBuy.

Fuel Surcharge Waiver:

1% fuel surcharge is waived off at all filling stations across India for transactions between Rs. 400 and Rs. 5,000 (max waiver capped at Rs. 250 per statement cycle)

Eligibility Criteria:

Applicant  Age  Salary/Income requirement
Salaried employees 21-60 years Net monthly income of Rs. 12,000 or above
Self-employed individuals 21-65 years Annual income of Rs. 2,00,000 or above.

Conclusion

Given its not-so-strict eligibility criteria, low membership fee and a decent reward rate across almost all categories of spends, the Freedom Credit Card by HDFC Bank can be considered a good pick for first-time cardholders. If you love going out for movies or dine-outs, this card earns you accelerated (5X) Reward Points on movie and dining spends. As far as travel benefits are concerned, you get accelerated Reward Points (5X) on railway and taxi spends as well. All these benefits combined make it one of the best offerings in the entry-level segment. What do you think of HDFC Freedom Credit Card? Do let us know in the comments. And if you’re an existing cardholder, feel free to share your experience.

FAQs:

No, HDFC Bank doesn’t provide complimentary domestic or international airport lounge access with the Freedom Credit Card.

HDFC Bank does not charge any fee for issuing up to 3 add-on credit cards.

HDFC Bank charges an interest of 3.6% per month on HDFC Bank Freedom Credit Card.

HDFC charges 3.5% of the transaction amount as a foreign currency mark-up fee on the Freedom Credit Card.

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