MoneyBack+ and Millennia are two popular cash-back credit cards from HDFC Bank. The MoneyBack+ is a revamped upgrade that was launched recently in place of the old MoneyBack. Given that, HDFC Bank allows only one credit card per customer which one to go for when we have both options. Here is a detailed comparison of the HDFC Bank MoneyBack+ vs Millennia credit cards to help you decide.
Fees and Charges
| MoneyBack+ Credit Card | Millennia Credit Card | |
|---|---|---|
| Joining/Renewal Fee | Rs 500 plus taxes | Rs 1000 plus taxes |
| Welcome/Renewal Benefit | 500 CashPoints on fee realization | 1000 CashPoints on fee realization |
| Renewal Fee Waiver | Rs 50000 spend | Rs 1 Lakh spend |
Though the product pages of Millennia and MoneyBack+ mention a joining/renewal fee, they are issued Lifetime Free in most cases. HDFC Bank is issuing these Lifetime Free currently as well.
Rewards
Millennia is the better rewarding cashback credit card. Both MoneyBack+ and Millennia earn CashPoints for spending. But the key difference is the value of one CashPoint. For Millennia, 1 CP = Rs 1 but for MoneyBack+ it is 1 CP = 25 paise.
| Category | MoneyBack+ Credit Card | Millennia Credit Card |
|---|---|---|
| Spends on Amazon, Flipkart, and Swiggy | 3.3% Cashback up to Rs 625 per month | 5% Cashback up to Rs 1000 per month |
| Spends on BookMyShow, Cult.fit, Flipkart, Myntra, Sony LIV, Tata CLiQ, Uber & Zomato | 0.3% Cashback | 5% Cashback up to Rs 1000 every month (same cap as the above category) |
| Spends on BigBasket and Reliance Smart SuperStore | 3.3% Cashback up to Rs 625 per month (same cap as the first category) | 1% Cashback up to Rs 1000 per month |
| Wallet Loads | No Rewards | 1% Cashback – Same Rs 1000 cap as above |
| Milestone Rewards | Gift vouchers worth Rs 500 on spends of Rs 50000 in each calendar quarter | Gift vouchers worth Rs 1000 on spends of Rs 1 Lakh in each calendar quarter |
Smartbuy Rewards
Both Millennia and MoneyBack+ get the same rewards on Smartbuy purchases. The cap on cashback is Rs 1000 per calendar month.
| Shopping Category | Cashback on Millennia and MoneyBack+ |
|---|---|
| IGP.com | 10% |
| Amazon | 5% |
| Flights (Cleartrip and Yatra) | 5% |
| Hotels (Cleartrip and MakeMyTrip) | 5% |
| IRCTC | 5% |
| Redbus | 5% |
| Instant Vouchers | 5% |
| Apple Tresor | 5% |
| Flipkart | 1% |
Redemption Options
| Redemption Option | MoneyBack+ Credit Card (Value of 1 RP) | Millennia Credit Card (Value of 1 Cashpoint) |
|---|---|---|
| Smartbuy (Flights/Hotels) | 25 paise | 30 paise |
| Cashback | 25 paise | Rs 1 |
Airport Lounge Access
Only Millennia credit card gets complimentary domestic airport lounge access. The access is capped at 2 visits per quarter.
Verdict: Which card is better – MoneyBack+ vs Millennia?
The Millennia credit card is the best cashback credit without any doubt. The MoneyBack+ card can be a stepping stone to Millennia if you cannot get Millennia right away. If you are offered Millennia, take it over MoneyBack+ without any question. Do check out the complete reviews of MoneyBack+ and Millennia if you have not seen them yet.
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