HDFC Bank MoneyBack Credit Card Review

HDFC Bank MoneyBack Credit Card Review

The HDFC MoneyBack credit card was introduced by HDFC Bank in September 2021, and it competes with several entry-level Axis Bank and SBI credit cards, both of which have performed well in the credit card market. This card offers instant cashback on every transaction, as well as a few other benefits.

HDFC Bank MoneyBack Credit card is ideal for folks who are just getting started and are looking for a credit card that offers rewards points that can be used for statement credit as well. Almost anyone can apply for this card, which has a fairly simply eligibility criteria. Here is our review of the HDFC Bank MoneyBack Credit Card, where we delve deep into the pros, cons, rewards, cashback, and more. We attempt to answer the question of whether you should get one for yourself or not?

HDFC Bank MoneyBack Credit Card Review 2022


  • For every Rs 150 paid, you will receive 2 Reward Points.
  • Earn 2X Reward Points, or 4 Reward Points, for every Rs. 150 spent online. Every quarter, spend Rs. 50,000 and receive a gift voucher worth Rs. 500. In a year, you can earn up to Rs. 2,000 in gift cards.
  • Interest-Free Credit Period: HDFC Bank MoneyBack Credit Card offers up to 50 days of interest-free credit from the date of purchase


  • Only 50% of the booking cost can be redeemed with this credit card through HDFC Bank’s Smartbuy portal on air and hotel bookings.
  • Monthly reward cap is highly restrictive.

Rewards and cashback

  • Each time you spend INR 150, you will receive 2 reward points.
  • For online buying, up to 2X points are available. This translates to 4 reward points for every Rs 150 spent online (maximum 500 reward points per month)
  • A gift voucher of Rs 500 will be given to customers who spend Rs 50,000 in a calendar quarter.
  • Waiver of 1% fuel surcharge at all petrol stations in India (on a minimum transaction of 400 rupees). CashBack maximum of Rs. 250 every statement cycle)
  • 500 Bonus Points (applicable only on payment of membership fee)
  • If you spend Rs. 50,000 or more in the first year, the renewal membership charge is waived.

Fees and charges

  • Joining fees: Rs. 500 + GST
  • Annual fees Rs. 500 + GST
  • Interest rate – 3.49% per month (41.88% per annum).

Who should get an HDFC Bank MoneyBack Credit Card?

If you shop online frequently, the HDFC MoneyBack Credit Card may be a good choice for you because you’ll get twice the points on every purchase. This card is a great alternative for those who are new to the lending world and wish to begin their journey with a card having a low annual fee. The benefits of this credit card are more than justified for a fee of only Rs. 500. As a result, you should think about purchasing this card if

  1. You’re a newbie who wants to try out an entry-level credit card.
  2. You shop frequently both online and offline.
  3. You want to earn points that can be exchanged for cash.
  4. You wish to improve your credit score but are unable to obtain other credit cards.

Eligibility criteria


Minimum age is 21 years old and maximum age is 60 years old


Gross monthly income of more than Rs 25,000 for salaried applicants.

ITR of 6 lakhs or more per year for self-employed applicants.


  • PAN Card,
  • Aadhaar Card,
  • Driver’s License
  • Passport
  • Voter’s ID,
  • Overseas Citizen of India Card
  • NREGA Job Card
  • UIDAI Letters, or any other government-issued photo ID.
  • Account Statement, or any other government-approved address
  • The most recent one or two salary slips (not older than three months)
  • The most recent Form 16, and the most recent three months’ bank statement


HDFC MoneyBack Credit Card is one of the top cashback credit cards in India, offering reward points on all retail purchases with a few limitations, one of which is government payments. As mentioned, it is a great option as a first credit card and can be used to build your credit score for more rewarding, premium credit cards in the future.

Ratings and Reviews

Cashback and Rewards – 3/5 On merchant outlets/stores, you only get 0.4 percent Cashback. Cashback of 0.8 percent on all online retail purchases. On top of that, the monthly caps are highly restrictive, which means you can’t make much returns from hefty spends.

Fees and charges 4/5 If you spend Rs. 10,000 in the first 90 days after receiving your card, the first-year cost is waived, and the renewal price is waived if you spend Rs. 50,000 in a year. This is fairly easy to accomplish.

Eligibility 4/5 A simple eligibility condition is one of the key reasons for its popularity (low-income requirement). With a salary of Rs 25,000, you can get access to this card.

Overall 3.5/5 You will earn reward points for every purchase you make, which can be turned into straight cashback into your credit card account.  The best part about the card is that you get 2X reward points when you spend money online. So, if you make a lot of online purchases, this is a good credit card for beginners.


What is the minimum & maximum limit of HDFC MoneyBack credit card?

The bank determines the credit limit based on a number of factors, including the cardholder’s credit score, annual income, and age. The credit limit will be communicated to you by the bank once you have applied for the credit card and it has been approved.

How can I redeem my reward points on an HDFC MoneyBack card for cash?

HDFC reward points can be converted to cash through Internet Banking. After logging in, you’ll notice a button to convert reward points to cash under the redemption portal. Within 7 working days, the cash credit is credited into your account.

What is the annual fee of the HDFC MoneyBack Credit card?

The annual fee of HDFC Bank MoneyBack Credit Card is Rs. 500+GST, waived off on spends of over Rs 90,000 in a year.

What are the pros and cons of having an HDFC MoneyBack Credit card?


  • 2 points for every Rs.150 bought in stores, 4 points for every Rs.150 purchased online
  • If you spend Rs. 20,000 in the first 90 days after card activation, the first-year cost is waived, and the renewal price is waived if you spend Rs. 50,000 in a year.


  • The monthly caps on cashback are highly restrictive.
  • No complimentary airport lounge access
  • A 3.5 percent foreign exchange markup fee (other HDFC cards like Regalia charge a low foreign exchange markup fee of 2 percent)
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