HDFC Bank Easy EMI Credit Card
The HDFC Bank Easy EMI Credit Card is a great choice for anyone looking to save money while shopping. It comes with a joining fee of Rs. 500 and offers exciting welcome perks like 500 CashPoints and gift vouchers worth Rs. 1,000. You can get 5% cashback when shopping via Payzapp & SmartBuy, 2.5% cashback on other online purchases, and 1% cashback on offline purchases. This means you’ll enjoy savings on almost all your spending.
The cashback you earn is given as CashPoints, which can be redeemed for your statement balance at a rate of 1 CashPoint = Re. 1. You can also use these points for other purposes at different rates. One big advantage of this card is that if you meet certain spending limits, the Rs. 500 joining and renewal fees are waived. Plus, automatic EMI conversions on eligible purchases make managing expenses easier. It’s a smart option for anyone who wants to maximize savings and enjoy hassle-free shopping.
Rewards and Benefits
Fees & Charges
What should you consider before applying for a credit card in India?
Key Considerations Before Applying for a Credit Card in India:
- Eligibility Criteria: Ensure you meet the eligibility requirements, which typically include age, income, credit score, and employment status as defined by the issuing bank or financial institution.
- Credit Score: A strong credit score can significantly improve your chances of approval and result in more favorable terms, such as lower interest rates or higher credit limits. Verify that your credit score is healthy before applying.
- Interest Rates and Fees: Compare the annual percentage rates (APR), processing fees, late payment penalties, and foreign transaction charges associated with various cards. These costs can vary widely and impact the overall value of the card.
- Rewards and Benefits: Evaluate the rewards, cashback, discounts, or other perks offered by the card to ensure they align with your spending patterns. Some cards may provide better benefits in specific categories, such as travel, shopping, or dining.
- Credit Limit: Review the credit limit offered by the card to ensure it meets your financial needs. Avoid applying for cards with excessive limits if you are concerned about managing debt, as this can lead to higher interest charges.
- Repayment Terms: Understand the repayment structure, including the minimum payment amount, payment due dates, and any associated penalties. Being clear about these terms can help you manage payments effectively and avoid interest buildup.
- Card Type and Features: Choose a card type that matches your specific needs—whether standard, premium, or specialized cards like those offering travel rewards or dining privileges. Ensure the features of the card align with your lifestyle and spending habits.
- Bank’s Reputation: Opt for a financial institution with a proven reputation for customer service and transparency. Consider researching customer reviews and assessing their support channels to ensure reliable service.
- Hidden Charges: Be aware of any hidden fees, including annual fees, balance transfer charges, foreign transaction fees, or cash withdrawal charges. These can add up over time and affect the overall cost-effectiveness of the card.
- Credit Utilization: Maintain a balance within your credit limit to avoid high credit utilization ratios, which can negatively impact your credit score. Responsible use of credit is essential for maintaining financial health.
- Long-Term Financial Plans: Consider how the credit card fits into your overall financial strategy. Avoid accumulating unnecessary debt and choose a card that supports your long-term financial goals without adding financial strain.
Is there a benefit on fuel purchases?
Yes, the card offers a 1% fuel surcharge waiver, helping you save on fuel expenses.
How can I track my HDFC credit card application?
You can track your application status by entering your 16-digit reference number along with your mobile number, date of birth, or application form number at the HDFC Credit Card Tracker.
Can the renewal fee be waived off?
Yes, if you spend Rs. 50,000 or more in a year, the renewal fee for the following year will be waived.
Is there an interest-free credit period?
You can enjoy a credit period of 20 to 50 days without any interest if you clear your previous month's dues in full.
Which categories can I use this card for?
This card can be used for a wide range of expenses, such as travel, movie tickets, shopping, and apparel purchases.
Can small transactions be converted to EasyEMI?
No, only transactions above Rs. 10,000 are eligible for EasyEMI conversion.
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