Introduction:HDFC Bank Freedom Credit card is one of the reward credit cards which provides you with a large range of features and benefits. This credit card will provide you with reward points on each purchase you make along the accelerated reward points on your birthday spends and purchases, PayZapp spends and others too. Besides this, by making use of this Freedom Credit card, you will also be able to receive several benefits in other types of categories like insurance, fuel etc.
A guide to HDFC Bank Freedom credit card benefits, features
- You will be able to receive 5X reward points on grocery, dining, bookings for the railway, spends made on movie ticket purchases, taxi bookings.
- You can make the most of your birthday with 25X reward points on your expenses or spends which are made using this credit card.
- On all your spends which are made on SmartBUY and PayZapp, you will be able to receive 10X reward points.
- Gift voucher which is worth an amount of Rs.1,000 will be given to you by spending more than the amount of Rs.90,000/- per year.
- The renewal fee of this credit card will be waived off if your annual spends are more than the amount of Rs.50,000/-.
- There are 50 days of interest-free period offered on this credit card.
Benefits provided on reward points
- Welcome benefits will be provided on this credit card for 500 reward points.
- On the spends which are made on the occasion of your birthday, you will be able to receive 25X reward points.
- You will be able to receive 5X reward points on spends made on grocery, movies, taxis, dining, railway ticket bookings and spends by making use of your credit card.
- On all the purchases you make at PayZapp and SmartBUY, you will be able to receive reward points.
- On the payment of the renewal fee, you will be able to receive 500 reward points as a bonus on renewal.
Annual and renewal benefits
- On spending an amount of Rs.90,000 per year, you will receive a gift voucher which is worth an amount of Rs.1,000/-.
- The membership fee for the coming year will be waived off if an amount of Rs.60,000/- is spent in the year on your credit card.
Benefits on fuel
- There is a 1% waiver on fuel surcharge on all the purchases made on fuel ranging between Rs.400/- and Rs.5,000/- capped at 250 per statement cycle.
Limit on HDFC Bank Freedom credit card
The credit limit provided on HDFC Freedom credit card is completely decided by the bank. The bank will consider a few factors before providing you with a credit limit. Bank will check the credit score and credit report of the applicant along with the repayment schedules of the past and the current loans are also considered.
You may also like the HSBC Visa Smart Value Credit Card Benefits.
Benefits of Reward points provided on the HDFC Bank Freedom credit card
- With each amount of Rs.150/- spent on this credit card, you will be able to receive 1 reward point.
- You will receive 25X reward points on all the expenses made on your birthday.
- 10X reward points will be provided to you on purchases made at SmartBUY and PayZapp.
- On all the dining, movies, groceries, bookings on taxi and railway will get accelerated reward points of 5X.
- On the payment of your renewal fee, you will receive a bonus of 500 reward points.
- 500 points of welcome benefit will be given to you on payment of your annual fee.
Redeeming reward points earned on HDFC Freedom credit card
You will be able to redeem reward points earned by using both online and offline methods. If you want to redeem them offline, you will be required to download the reward redemption form from the official website of HDFC bank. The required details have to be filled and sent to the below address
HDFC Banks Cards Division
Post Box No.8654,
Chennai – 600041.
You can also consider signing in to your Net banking account and consider redeeming your reward points online too. For doing so, below are the steps you will be required to follow:
- Log in to the net banking of your HDFC using your credentials.
- After that, click on the tab “Credit cards”.
- Register your credit card and then click on “redeem reward points” and click “Continue”.
- The website will now redirect you to the redemption page of the rewards.
- Choose “Redeem reward points”.
- Select the category of the item you require.
- After that, select the points range to check several products.
- You can choose the items and then add them to the card for purchases.
- After selecting the required items, click on “View your shopping cart”.
- You will be required to read all the terms and conditions and make sure that you are checking that box.
- After that, click on “redeem”. The number for redemption order which is provided to you has to be noted down for future references.
You may be interested in Axis Buzz Credit Card Benefits.
HDFC Bank Freedom Credit card fees and charges
- An amount of Rs.500/- will be charged as an annual fee.
- There will be 50 days of the interest-free period.
- The minimum amount of repayment is 5% which would be subjected to a minimum amount of Rs.200/-.
- Charges made on revolving credit is 3.49% per month.
- Limit for cash advance will be 40% of the credit limit.
- If the outstanding balance amount is up to an amount of Rs.100/-, then there would be no late payment fee charged. An amount of Rs.100/- will be charged as a late payment fee if the outstanding balance amount is between the amounts of Rs.101/- to Rs.500/-. If the outstanding balance amount is between Rs.501/- to Rs.5,000/-, then an amount of Rs.500/- will be charged as a late payment fee. If the outstanding balance is between the amounts of Rs.5,001/- to Rs.10,000/-, then a late payment fee of Rs.600/- will be charged. If the outstanding balance amount is between the amounts of Rs.10,001/- to Rs.25,000/-, then a penalty of Rs.800/- will be charged. Any amount which is more than Rs.25,001/- will be charged with a late payment fee of Rs.950/-.
- There is no fee charged for an additional card.
- Charges made on payment return is 2% of the amount of payment which would be subjected to a minimum amount of Rs.450/-.
- Fee for rewards redemption is an amount of Rs.99/- per redemption request.
- Charges made on the over-limit account is 2.5% of the amount of over-limit which would be subjected to a minimum amount of Rs.500/-.
- Charges for the cash advance is 2.5% of the withdrawn amount which would be subjected to a minimum of Rs.500/-.
- Processing charges made for a balance transfer is 1% of the amount of balance transfer which would be subjected to a minimum amount of Rs.250/-.
- Processing charges made for outstation cheque will be Rs.25/- if the cheque value is up to an amount of Rs.5,000/- and Rs.50/- if the cheque value is beyond the amount of Rs.5,000/-.
- Fee for cash processing is an amount of Rs.100/-.
- Fee for reissue of a stolen or lost or damaged card is an amount of Rs.100/-.
- The fee charged on railway ticket purchase is 1.8% of the amount of transaction adding GST.
- Fee for transactions made on foreign currency is 3.5%.
- Charges made on fuel transactions is an amount of Rs.250/- per statement cycle will be waived off.
HDFC Freedom Credit card eligibility criteria
- If the primary cardholder is an individual who is working for a salary, then he/she must be between the age group of 21 to 60 years. Their gross monthly income should be above the amount of Rs.12,000/-.
- If you are a self-employed individual, then you should belong to the age group of 21 to 65 years. Your income tax returns should be more than the amount of Rs.2 Lakh per year.
- You can be either a resident of India or a non-resident of India.
- The cardholder of an add-on card should have an age of at least 15 years.
Required documentation to apply for a HDFC Bank Freedom credit card
- You should submit a copy of PAN card and Form 60.
- Application form which is completely filled.
- Income proof which consists of Form 16, latest payslips or Income Tax Returns.
- 2 Passport photos.
- Proof of address which can include a Passport, Aadhaar card, PAN card or a copy of any utility bills such as electricity bill, telephone bill etc.
- Proof of identity has to be submitted which includes PAN card, driving license, Aadhaar card.
- For more information visit any HDFC Bank in your area.