Today, we have many credit cards in India that provide good rewards for domestic spending. Yet, there are very few credit cards that can give similar rewards on international transactions. This is a category of spending that has kept increasing with more people traveling for work or vacations. In this aspect, the HDFC Bank Global Value program is a less discussed/known feature that is a great value add. Here is all about this program and its benefits:
What is the HDFC Bank Global Value Program?
It is an add-on ‘service’ that we can enable on selected HDFC Bank credit cards. It gives 1% extra cashback on international transactions.
|Joining/Renewal Fee||Rs 199 plus taxes|
|Welcome Benefit||500 Bonus RP on 1st international transaction|
Rewards and Benefits
|Cashback Benefits||1% Cashback on all International transactions|
|Maximum Cashback||Rs 1000 per statement cycle|
|Milestone Benefits||Rs 2,000 Yatra voucher on international spending of Rs. 1.5L in a year|
|Valid Credit Cards||All HDFC Bank credit cards|
To avail of this benefit, we need to always pay in foreign currency and not convert to INR at the PoS/payment gateway. This benefit is also applicable to foreign currency transactions made from India on international websites.
For the super-premium Infinia and DCB credit cards, the effective reward rate is 1.94% on international transactions with the Global Value program. This makes Infinia and DCB a good option when we need to spend on non-INR transactions.
- Standard Reward Rate on Infinia/DCB: +3.3%
- Foreign Currency Markup: -2% plus GST = -2.36%
- Global Value Program Cashback: +1%
- Net Reward Rate for international transactions: +1.94%
How to Enroll in HDFC Bank Global Value Program
We can SMS GVPYES to 5676712 from the registered mobile number or call customer service to place our request.
HDFC Bank has stopped taking SMS requests for enrolling in the program. Now, we need to call the phone banking or customer support team and request them to enroll our card in the program. It takes up to 5 business days to complete the enrollment.
I had opted into the Global Value program back when I got the Regalia credit card. With the upgrade to Infinia, it got added to the new card as well. For a fee of Rs 235 per year, we can get up to Rs 12000 cashback per year on international transactions.
It is worth enabling this program even if we make a couple of international transactions in a year. For someone who travels a lot, this is a great way to save on international spending!