Rupay credit cards are popular right now thanks to the ability to make UPI payments. HDFC Bank has launched a new UPI Rupay Credit Card that will be available only as a virtual credit card. The HDFC Bank UPI Rupay credit card offers CashPoints like the Millennia. We get up to 3% CashPoints on spends including UPI transactions. Here is a review of the HDFC Bank UPI Rupay credit card with its rewards & benefits.
Fees & Charges
| Joining Fee | Rs 250+GST / Zero (FYF) |
| Welcome Benefit | None |
| Annual Fee | Rs 250+GST |
| Annual Fee Waiver | Spend Rs 25000 in a membership year |
| Renewal Benefit | None |
Rewards
| Category | CashPoints | Return | Max CashPoints |
|---|---|---|---|
| Groceries, Supermarkets Dining & PayZapp | 3% | 0.75% | 500 per calendar month |
| Utilities | 2% | 0.50% | 500 per calendar month |
| Other Spends | 1% | 0.25% | 500 per calendar month |
| Rent, Wallet, Gift Vouchers EMI, Fuel & Govt. Services | 0% | NIL |
The effective reward is between 0.25% to 0.75. This is much lesser than what other credit cards offer on UPI transactions. HDFC Bank Tata Neu Plus and Infinity variants provide 1% and 1.5% respectively. Snapdeal BoB credit card also offers 1% rewards on UPI transactions. So, it is surprising to see HDFC Bank launch a virtual credit for UPI with a low reward rate.
CashPoints Redemption
The critical point to note here is that the value of 1 CashPoint is 25 paise for the HDFC Bank UPI Rupay credit card. We can redeem for a statement credit and other options by logging into HDFC Bank Netbanking.
- The minimum CashPoints balance required for redemption is 2000
- CashPoints are valid for 2 years from the date of credit
- CashPoints can also be redeemed against travel benefits like flight and hotel bookings, and rewards catalogs on the SmartBuy portal. The value for 1 CashPoint in this case is also 25 paise. The standard 70:30 restriction also applies here. So, we can pay up to 70% of flight/hotel/reward value with CashPoints. The rest needs to be paid by credit card.
- The best option is to redeem for statement credit as we get the same value.
Complimentary Airport Lounge Access
HDFC Bank UPI Rupay credit card does not offer any complimentary airport lounge access.
- Domestic Airport Lounge Access: Not Available
- International Airport Lounge Access: Not Available
Other Benefits and Charges
- Fuel Surcharge Waiver: Not Available
- Foreign Currency Transaction Charges: 3.5%+GST
- Finance Charges: 3.60% per month / 43.20% annually
Final Thoughts
If you need a Rupay credit card for making foreign transactions, the Tata Neu Infinity, Plus and SNAPDEAL BoB credit cards are the ones you should first check out. But, all these options do have a cap when it comes to rewards on UPI transactions. So, if you are hitting the rewards cap on your existing Rupay credit then you can look at the HDFC Bank UPI Rupay credit card as the next option.
Frequently Asked Questions
No, we do not get a welcome benefit on this card. We currently have an FYF offer to get it for a zero joining fee.
No, there is no complimentary airport lounge access on this card.
No, there is no fuel surcharge waiver on this card.
Yes, we get an annual fee waiver on spending Rs 25000 in a membership year.
HDFC Bank UPI Rupay Credit Card
3 thoughts on “HDFC Bank Rupay Credit Card”
I read that making fuel payment via UPI does not have a surcharge, so there is no surcharge on fuel payment hence no waiver needed for fuel surcharge.
That’s right.
a cap when it comes to rewards on UPI transactions. So, if you are hitting the rewards cap on your existing Rupay credit then you can look at the HDFC Bank UPI Rupay credit card as the