HDFC Bank Multicurrency Platinum ForexPlus Chip Card
The HDFC Multicurrency Platinum ForexPlus Chip Card is a prepaid travel card from HDFC Bank that lets you load money in 22 different foreign currencies like USD, Euro, Pound, Dirham, and more. It’s made for people traveling abroad for work, holidays, or medical reasons. There is no annual fee, but you’ll need to pay a one-time fee of Rs. 500 (plus taxes) when you get the card. Each time you reload the card, a small fee of Rs. 75 is charged. The card also helps protect you from currency exchange rate changes while you're traveling.
While this card doesn’t offer cashback or reward points, it does give some useful benefits. For example, you can get Amazon vouchers when you reload the card with at least USD 1,000. You’ll also get better forex rates if you load the card online, and there's a 24x7 concierge service to help with travel support. However, compared to other options like HDFC’s MakeMyTrip ForexPlus Card, this one offers fewer travel benefits such as lounge access or travel deals. Still, HDFC Multicurrency Platinum ForexPlus Chip Card a good option if you want a simple and safe way to carry multiple currencies while traveling.
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.
HDFC Bank Multicurrency Platinum ForexPlus Chip Card – Key Features
The HDFC Bank Multicurrency Platinum ForexPlus Chip Card is a convenient travel card for Indians who travel abroad. It supports 22 currencies, making international transactions easy and safe. Along with multiple currency support, it offers travel assistance, insurance, and special offers, helping make your trips hassle-free.
Welcome Benefits
When you load a minimum of USD 1,000 (or equivalent), the card issuance fee of ₹500 is waived. Additionally, you can get an Amazon voucher worth ₹1,500 if you load or reload at least USD 1,500. This makes the card useful for both first-time and frequent travelers.
Travel Benefits
The card offers several travel-related benefits:
- Lower forex rates: You save ₹0.20 per unit when loading the card online.
- Emergency cash support: Available worldwide if your card is lost or not working.
- Global concierge service: Helps with flight bookings, hotel reservations, and gift or flower delivery.
- Medical support: Assistance in finding hospitals and doctors abroad.
These features make traveling easier and safer, giving you peace of mind during your trips.
Insurance Benefits
The card comes with insurance coverage against accidents, card misuse, and loss of baggage, documents, or cash. The coverage includes:
| Type of Insurance | Single Currency Card | Multi-Currency Card |
|---|---|---|
| Card misuse (skimming/counterfeit) | ₹5 lakh | ₹5 lakh |
| Road or rail accidents (death) | ₹2 lakh | ₹5 lakh |
| Air accidents (death) | ₹5 lakh | ₹25 lakh |
| Lost check-in baggage | ₹20,000 | ₹20,000 |
| Lost personal documents | ₹50,000 | ₹50,000 |
| Loss of cash in transit | ₹60,000 | ₹60,000 |
Loading and Reloading the Card
You can add money to your card in two ways:
- Online: Using HDFC net-banking or mobile app.
- Offline: Visit any HDFC branch with the Forex reload form, Form A2, and a cheque or cash for the reload.
The card can be loaded in 22 currencies, including USD, EUR, GBP, AUD, CAD, JPY, SGD, AED, and more.
Fees and Charges
Here’s what you need to know about fees:
- Card issuance fee: ₹500 + GST (waived on minimum loading).
- Reload fee: ₹75 + GST each time.
- Foreign currency transactions: No extra charge for transactions in the loaded currency. Cross-currency usage charges 2%.
- Cash withdrawals: USD 2 (or equivalent) per ATM withdrawal.
These fees are reasonable and transparent, making the card cost-effective for travelers.
Eligibility
The card is easy to get, even for non-HDFC customers.
- You must be 18 years or older.
- You should have a valid passport and visa before travelling.
Required Documents
To apply, you need:
- Self-attested passport copy
- Self-attested visa and ticket copy
- Address proof if different from passport (Aadhaar, PAN, or utility bills)
- Bank statement, passbook, or cancelled cheque as proof of payment
How to Apply
You can apply online or offline:
- Online: Go to HDFC Bank website → Pay → Cards → Forex Cards → Multicurrency Platinum ForexPlus Card → Apply Online → Fill in details.
- Offline: Visit your nearest HDFC branch with documents and fill out the physical form.
HDFC Multicurrency Platinum ForexPlus Chip Card Review
The HDFC Multicurrency Platinum ForexPlus Chip Card is a useful travel card for anyone visiting multiple countries. It allows you to load money in 22 currencies, offers insurance, emergency support, and special offers like Amazon vouchers. While it may not have extra perks like airport lounge access, it is safe, reliable, and easy to use for international travelers.
If you are planning a trip abroad, the HDFC ForexPlus Card is a practical choice to manage your money, avoid high foreign exchange charges, and travel with confidence.
How many currencies can I load onto this HDFC Multicurrency Platinum ForexPlus Chip Card?
You can load 22 currencies on the HDFC Multicurrency Platinum ForexPlus Chip Card. This helps protect you from currency exchange rate changes.
Do I need to pay an annual fee for the card?
There’s no annual fee, but you’ll need to pay a one-time issuance fee of Rs. 500 (plus GST) when you get the card.
What should I do if my VISA is on arrival?
You can still apply for the card by submitting your ticket.
Do I get any shopping benefits with the HDFC Multicurrency Platinum ForexPlus Chip Card?
Yes, when you load AED 4,000 onto the card, you’ll receive a Dubai Shopping Voucher worth AED 300.
Do I have to pay any extra charges on foreign currency transactions?
There’s no fee for using the currency you loaded on the card. But if you make a transaction in a different currency, a 2% cross-currency charge will apply.
Do I get airport lounge access with the card?
No, this card does not offer access to airport lounges.
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