HDFC MoneyBack Plus Credit Card

About HDFC MoneyBack Plus Credit Card

Are you still using your debit card for every purchase and missing out on rewards? If you are just starting your career or looking for your first "real" credit card, the HDFC MoneyBack Plus Credit Card is a logical first step.

This card is built for simplicity. It offers a clear value proposition where your points actually mean something. With a potential annual saving of up to  ₹20,343, it turns your regular monthly bills and shopping into tangible rewards. No complex math is required here. Just spend, earn, and redeem.

This card is ideal for salaried professionals earning at least  ₹20,000 per month who want a low-cost entry into the HDFC ecosystem. It provides a balanced mix of shopping rewards, dining discounts, and fuel savings without a high price tag.

What makes it stand out:

• Easy Waiver: Unlike premium cards with massive spending targets, you only need to spend  ₹50,000 in a year to get your annual fee waived.
• Instant Welcome: You get 500 CashPoints just for paying your joining fee, helping you start your rewards journey on day one.
• Dining Perks: Enjoy a flat 10% discount on Swiggy Dineout, making your weekend meals significantly cheaper.

Quick Check: To qualify, you need to be between 21 and 60 years old with a steady monthly income of  ₹20,000 and a credit score (CRIF) of at least 720.

Let's break down why this card deserves a spot in your wallet:

Key Benefits and Features of HDFC MoneyBack Plus

The HDFC MoneyBack Plus Credit Card is designed to be a "workhorse" card. It covers your daily essentials while keeping the costs low. Here is a detailed look at the perks:

Welcome and Activation Benefits

When you join and pay your membership fee of  ₹500, HDFC credits 500 CashPoints to your account. Since each point is worth  ₹0.25, you effectively get  ₹125 back immediately. Note that you must make a minimum transaction of  ₹100 within the first 30 days of receiving your card to ensure you are eligible for rewards and to keep the card active.

Fees and Annual Fee Waiver

The card comes with a joining fee of  ₹500 and an annual fee of  ₹500. However, HDFC makes it very easy to avoid this cost. If you spend  ₹50,000 or more in a year, the bank waives the  ₹500 annual fee for the next year. For most users, spending about  ₹4,200 a month on groceries, bills, and fuel is enough to make this card effectively free.

Reward Redemption Options

Your CashPoints are versatile. You can use them in four main ways:

• Cashback: Convert points directly into statement credit. You need at least 2,000 points (worth  ₹500) to redeem.
• SmartBuy Travel: Book flights and hotels at a rate of 1 point =  ₹0.25. You can pay up to 50% of your booking value using points.
• Vouchers and Products: Use the rewards catalog for gift vouchers or products, where points can cover up to 70% of the value.
• Redemption Rate: Across most categories, 1 Reward Point equals  ₹0.25.

Dining Discounts

If you enjoy eating out, this card offers a 10% additional discount on Swiggy Dineout. Simply use the code "HDFCCARDS" when paying through the Swiggy app at participating restaurants. This is a great way to stack savings on top of existing restaurant offers.

Fuel Surcharge Waiver

While fuel spends do not earn reward points, you do save on the surcharge. You get a 1% waiver on fuel transactions between  ₹400 and  ₹5,000. This is capped at  ₹250 per statement cycle, which is quite generous for a basic card.

Smart EMI and Brand Offers

For those big-ticket purchases like a new phone or laptop, you can use the Smart EMI feature to convert your spends into manageable monthly installments. The card also gives you access to various merchant-specific EMI offers throughout the year.

HDFC MoneyBack Plus Credit Card Eligibility Criteria

Before you apply, ensure you meet these specific requirements to increase your chances of approval:

For Salaried Individuals

• Age: You must be between 21 and 60 years old.
• Income: A minimum net monthly income of  ₹20,000 is required.
• Credit Score: A CRIF score of 720 or higher is generally expected.

For Self-Employed Individuals

• Age: You must be between 21 and 65 years old.
• Income: Your annual income (ITR) should be at least  ₹6 Lakhs per annum.
• Credit Score: A CRIF score of 720 or higher.

How to Apply?

The application process for the HDFC MoneyBack Plus Credit Card is straightforward. Follow these steps:

1. Visit the official HDFC Bank website or a partner portal.
2. Navigate to the "Credit Cards" section and find the MoneyBack Plus variant.
3. Click on "Apply Online" and enter your mobile number.
4. Ensure you meet the minimum income requirement of  ₹20,000 (salaried) or  ₹6 LPA (self-employed) during the digital check.
5. Fill in your personal details, including your PAN card number and employment information.
6. Upload the necessary digital documents if prompted.
7. Complete the Video KYC (if available) or wait for a bank representative to contact you for physical verification.

Card processing takes 7-10 working days after successful verification and document submission.

Credit Limit: What to Expect

Credit limits are assigned based on your income, credit score, and existing banking relationship. For this specific card profile, limits range from  ₹40,000 to  ₹1,50,000 depending on your creditworthiness.

For an entry-level card like the MoneyBack Plus, the bank looks at your debt-to-income ratio. If you have a clean repayment history and meet the  ₹20,000 monthly income mark, you can expect a limit that comfortably covers your monthly lifestyle expenses. You can request a limit increase after 6-12 months of disciplined usage.

Comparison Table: HDFC MoneyBack Plus vs. Competitors

To help you decide, here is how this card stacks up against other popular entry-level cards in the market:

If your goal is to have a card that pays for itself with very low annual spending, the HDFC MoneyBack Plus is the clear winner due to its  ₹50,000 waiver threshold. However, if you are a heavy Amazon shopper, the SBI SimplyClick might offer more accelerated points for that specific merchant.

Documents Required for HDFC MoneyBack Plus Application

You'll need to submit the following documents when applying:

For Salaried Applicants

• Identity Proof: PAN Card (mandatory), Aadhaar Card, Passport, Voter ID, or Driving License.
• Address Proof: Aadhaar Card, Passport, Utility Bills (not older than 2 months), or Rent Agreement.
• Income Proof: Latest 3 months' salary slips and 6 months' bank statements showing salary credits.
• Employment Proof: Office ID card or employment letter.

For Self-Employed Applicants

• Identity Proof: PAN Card (mandatory), Aadhaar Card, Passport, Voter ID, or Driving License.
• Address Proof: Aadhaar Card, Passport, or Property Documents.
• Income Proof: Latest 2 years' ITR with computation of income and 6 months' bank statements.
• Business Proof: Business registration certificate, GST registration, or Shop Act License.

Note: All documents must be self-attested. The bank may request additional documents during verification.

Who Should Get This Card?

Should you get this card? Here is who benefits most from the HDFC MoneyBack Plus:

The "First-Time" Card User

If you are an IT professional earning  ₹25,000 monthly and this is your first credit card, this is a perfect match. You likely spend  ₹5,000- ₹7,000 a month on groceries and dining. By hitting the  ₹50,000 annual spend, you never pay a fee, and you build a credit history with India's largest private bank.

The Swiggy Enthusiast

If you dine out or order in via Swiggy regularly, the 10% Dineout discount via the HDFCCARDS code provides instant gratification. It is a simple, no-nonsense way to save  ₹200- ₹500 every month on food alone.

The Budget-Conscious Household

For those who want a card for utilities and fuel but hate high annual fees, this works well. The 1% fuel surcharge waiver and the low waiver target mean you can use this card for basic necessities without worrying about the cost of owning the card.

You might want to skip this card if:

• You travel frequently and want airport lounge access (this card does not offer lounge benefits).
• You spend over  ₹50,000 every single month (you should look at HDFC Regalia or Millennia for better rewards).

BankKaro Expert Review

Based on the card's features, the HDFC MoneyBack Plus excels as an entry-level "starter" card. It doesn't try to be a luxury travel card, and it doesn't pretend to offer elite perks. Instead, it focuses on what a new credit user actually needs: low fees, easy waivers, and practical dining discounts.

The biggest limitation is the redemption value of points. At  ₹0.25 per point, you need to accumulate a significant number of points before they feel substantial. Additionally, the list of excluded spends (Rent, Insurance, Government payments) is quite long, so you won't earn rewards on those specific categories.

Our Verdict: Choose this card if you earn between  ₹20,000 and  ₹40,000 and want a reliable primary card from HDFC. It is a fantastic tool to learn how credit works while earning back enough to cover your annual costs and then some. However, once your income crosses the  ₹50,000 per month mark, you should look to upgrade to a higher variant like the HDFC Millennia for better cashback rates.

Terms and Conditions

Please keep the following terms in mind for the HDFC MoneyBack Plus Credit Card:

• The bank may offer a different card variant based on your eligibility. Please carefully read the features of the card offered before submitting your application.
• A minimum transaction of  ₹100 within 30 days is required to activate the card, otherwise, you won’t be eligible for the rewards.
• Reward points are not earned on exclusions such as rent payments, fuel, insurance, EMI transactions, and wallet loads.
• Cashback redemption is subject to a minimum of 2,000 points.