Introduction
The Swiggy HDFC Credit Card is a co-branded credit card launched by HDFC Bank in collaboration with Swiggy, Indiaโs leading food delivery platform. Designed to cater to the needs of avid Swiggy users, this card offers substantial cashback rewards on transactions made through the Swiggy app, including food orders, grocery shopping via Instamart, dining out, and using Swiggy Genie for various errands. Additionally, the card provides competitive cashback rates on other online spends, making it an attractive option for frequent online shoppers. With a nominal annual fee and a range of features tailored to enhance the user's dining and shopping experience, the Swiggy HDFC Credit Card aims to deliver exceptional value and convenience.
Joining Benefits of Swiggy HDFC Bank Credit Card
- Welcome Benefit:
- Complimentary Swiggy voucher worth โน500 upon card activation.
- Cashback on Swiggy:
- 10% cashback on all Swiggy spends, including food delivery, Swiggy Genie, and Swiggy Instamart.
- Cashback on Online Spends:
- 5% cashback on other online transactions.
- Cashback on Other Spends:
- 1% cashback on all other purchases.
- Dining Discounts:
- Up to 20% off at partner restaurants through HDFC Bankโs Dining Delights program.
- Fuel Surcharge Waiver:
- 1% waiver on fuel surcharge at all petrol pumps across India.
- Annual Fee Waiver:
- Annual fee waived on spending โน1 lakh in a year.
- Interest-Free Period:
- Up to 50 days of interest-free credit.
- Exclusive Offers:
- Special discounts and offers on shopping, travel, and entertainment through HDFC Bankโs partnerships.
- Security Features:
- Advanced security features with EMV chip technology and zero liability on lost card.
Card Features and Benefits
The Swiggy HDFC Credit Card comes packed with a variety of features and benefits designed to provide significant value, particularly for those who frequently use Swiggyโs services. Below are the key features and benefits:
- Cashback Rewards:
- 10% Cashback on Swiggy: Users earn 10% cashback on all transactions made through the Swiggy app, including food ordering, Instamart grocery shopping, Dineout dining reservations, and Swiggy Genie services.
- 5% Cashback on Online Spends: The card offers 5% cashback on online purchases across various merchant categories, making it beneficial for online shopping enthusiasts.
- 1% Cashback on Other Categories: For all other spends, cardholders receive 1% cashback. However, there are certain exclusions and capping on this cashback, details of which can be found on the HDFC Bank website.
- Welcome Benefit:
- Complimentary Swiggy One Membership: New cardholders receive a complimentary 3-month Swiggy One membership upon card activation. This membership provides unlimited benefits, including free delivery and exclusive discounts on Swiggy orders across restaurants, Instamart, and Genie.
- Zero Lost Card Liability:
- In case of loss or theft, cardholders have zero liability for any fraudulent transactions, provided the loss is reported immediately to HDFC Bank's 24-hour call centre.
- Interest-Free Credit Period:
- The card offers an interest-free credit period of up to 50 days from the date of purchase, subject to the timely submission of charges by the merchant.
- Revolving Credit:
- Cardholders can avail themselves of revolving credit at a nominal interest rate, providing flexibility in managing repayments.
- Contactless Payments:
- The card supports contactless payments for transactions up to โน5000, enhancing convenience and security for in-store purchases.
- Smart EMI Facility:
- Large purchases can be converted into easy monthly installments (EMIs), making high-value transactions more manageable.
- Balance Transfer on EMI:
- Cardholders can transfer the outstanding balance from other credit cards to the Swiggy HDFC Credit Card and repay in EMIs at competitive interest rates.
- Mastercard Golf Benefits:
- Enjoy access to golf courses worldwide, with 12 free lessons per year and 4 complimentary rounds of green fees per calendar year. Additional discounted golf services are available at 50% of the green fee beyond the complimentary sessions.
Pricing and Plans
The Swiggy HDFC Credit Card offers competitive pricing and several opportunities to offset the annual fees through regular use. Here is a detailed breakdown:
- Joining Fee:
- The card comes with an initial joining fee of โน500 plus applicable taxes. This fee is charged when the card is first issued.
- Renewal Membership Fee:
- An annual renewal fee of โน500 plus applicable taxes is charged on the cardโs anniversary date.
- Fee Waiver:
- Cardholders can have the renewal fee waived off by spending โน2,00,000 or more in a year before the cardโs renewal date. This makes the card effectively free for high-spending individuals.
- Exclusions for Fee Waiver Eligibility:
- Certain types of transactions do not count towards the โน2,00,000 spend threshold for the renewal fee waiver. These include:
- Cash on Call transactions
- Balance Transfer transactions
- Cash Withdrawals
- Certain types of transactions do not count towards the โน2,00,000 spend threshold for the renewal fee waiver. These include:
User Experience
The Swiggy HDFC Credit Card is designed to enhance the user experience, particularly for those who frequently utilize Swiggyโs services. Below are key aspects of the user experience:
- Ease of Card Activation:
- Card activation is straightforward and can be completed by making a transaction using the credit card, setting the PIN via OTP or IVR, and enabling card controls such as online transactions and international usage. The process is designed to be user-friendly and quick.
- Swiggy One Membership:
- Upon activation, cardholders receive a complimentary 3-month Swiggy One membership. This membership is a significant perk, offering free delivery, exclusive discounts, and other benefits across Swiggy services. The membership can be claimed through the Swiggy app within 2-3 days of card activation, providing immediate value.
- Cashback Redemption:
- The cashback earned on transactions is automatically credited as a statement credit starting from June 21, 2024. This makes it easy for users to utilize their rewards without additional steps. However, transactions made using Swiggy Money Wallet, Swiggy Minis, Swiggy Liquor, and any other excluded categories will not earn cashback.
- Transaction Convenience:
- The card supports contactless payments for transactions up to โน5000, facilitating quick and secure payments at retail outlets. For transactions above โน5000, entering the PIN adds an extra layer of security.
- Customer Support:
- HDFC Bank provides robust customer support with a dedicated 24-hour call centre to assist cardholders with any issues, including reporting lost cards to ensure zero liability on fraudulent transactions.
- Rewards and Benefits Utilization:
- The card's cashback structure and complimentary membership align well with the spending habits of frequent Swiggy users. The 10% cashback on Swiggy transactions and 5% cashback on other online spends make it highly rewarding for its target audience.
- User Interface and App Integration:
- Integration with the Swiggy app allows users to easily track their Swiggy One membership benefits and access exclusive offers. This seamless integration enhances the overall user experience by providing convenient access to benefits and rewards.
Additional Perks and Benefits
In addition to its primary features and rewards, the Swiggy HDFC Credit Card offers several additional perks and benefits that enhance its overall value proposition:
- Zero Lost Card Liability:
- Cardholders are protected against fraudulent transactions if their card is lost or stolen, provided they report the loss immediately to HDFC Bankโs 24-hour call centre. This zero liability feature ensures peace of mind and financial security.
- Interest-Free Credit Period:
- The card offers up to 50 days of interest-free credit from the date of purchase, subject to the timely submission of charges by the merchant. This feature provides cardholders with flexibility in managing their finances and paying off balances without incurring interest charges.
- Revolving Credit:
- Cardholders can avail themselves of revolving credit at a nominal interest rate. This allows users to carry forward a portion of their outstanding balance to the next billing cycle, offering financial flexibility in times of need.
- Smart EMI Facility:
- Large purchases made using the Swiggy HDFC Credit Card can be converted into easy monthly installments (EMIs). This facility enables cardholders to manage high-value transactions more conveniently and without financial strain.
- Balance Transfer on EMI:
- Cardholders can transfer outstanding balances from other credit cards to the Swiggy HDFC Credit Card and repay in EMIs at competitive interest rates. This feature can help in consolidating debts and managing repayments more effectively.
- Mastercard Golf Benefits:
- The card provides access to golf courses worldwide, including 12 free lessons per year and 4 complimentary rounds of green fees per calendar year. Beyond the complimentary sessions, cardholders can avail themselves of discounted golf services at 50% of the green fee. This benefit is particularly appealing to golf enthusiasts and adds a premium touch to the cardโs offerings.
- Comprehensive Customer Service:
- HDFC Bankโs customer service is accessible via a dedicated helpline (+1800 102 6263), ensuring that cardholders receive prompt and efficient support for any queries or issues related to their credit card.
Comparative Analysis
The Swiggy HDFC Credit Card offers a unique set of benefits, particularly for frequent Swiggy users. To better understand its value, it is helpful to compare it against other popular credit cards in the Indian market. Below is a comparative analysis in table format:
| ๏ปฟFeature / Card | Swiggy HDFC Credit Card | HDFC Millennia Credit Card | ICICI Amazon Pay Credit Card | SBI SimplyCLICK Credit Card |
|---|---|---|---|---|
| Joining Fee | โน500 + taxes | โน1,000 + taxes | None | โน499 + taxes |
| Annual Fee | โน500 + taxes | โน1,000 + taxes | None | โน499 + taxes |
| Renewal Fee Waiver | Spend โน2,00,000 annually | Spend โน1,00,000 annually | Not applicable | Spend โน1,00,000 annually |
| Cashback on Partner Platforms | 10% on Swiggy | 5% on Amazon, BookMyShow, Myntra | 5% on Amazon | 5x rewards on Amazon, BookMyShow |
| Cashback on Online Spends | 5% | 2.5% on all online spends | 2% on non-Amazon online spends | 10x rewards on online spends |
| Cashback on Other Categories | 1% | 1% on all other spends | 1% on all other spends | 1 reward point per โน100 spent |
| Welcome Benefits | Swiggy One Membership (3 months) | 1,000 Cash Points | โน750 Amazon Pay balance | โน500 Amazon voucher |
| Interest-Free Period | Up to 50 days | Up to 50 days | Up to 48 days | Up to 50 days |
| Revolving Credit | Yes | Yes | Yes | Yes |
| EMI Conversion | Yes | Yes | Yes | Yes |
| Golf Benefits | Yes | No | No | No |
| Contactless Payments | Yes | Yes | Yes | Yes |
| Zero Lost Card Liability | Yes | Yes | Yes | Yes |
| Customer Service | 24-hour helpline | 24-hour helpline | 24-hour helpline | 24-hour helpline |
Pros and Cons
The Swiggy HDFC Credit Card offers several advantages and a few potential drawbacks. Here's a detailed look:
Pros
- High Cashback on Swiggy:
- 10% cashback on Swiggy transactions, including food orders, Instamart, Dineout, and Genie services, providing substantial savings for frequent users.
- Broad Online Cashback:
- 5% cashback on a wide range of online spends, making it beneficial for avid online shoppers.
- Low Annual Fee:
- The card has a relatively low annual fee of โน500 plus taxes, which can be waived upon spending โน2,00,000 annually.
- Welcome Benefit:
- Complimentary 3-month Swiggy One membership upon activation, offering free delivery and exclusive discounts.
- Zero Lost Card Liability:
- Protection against fraudulent transactions if the card is reported lost or stolen promptly.
- Interest-Free Credit Period:
- Up to 50 days of interest-free credit, offering flexibility in managing repayments.
- Additional Perks:
- Access to Mastercard Golf Benefits, including free lessons and complimentary rounds, enhancing the card's appeal to premium users.
- Convenient Payments:
- Supports contactless payments, making transactions quick and secure.
Cons
- High Spend Requirement for Fee Waiver:
- The โน2,00,000 annual spend requirement for the renewal fee waiver may be high for some users.
- Exclusions on Cashback:
- Cashback cannot be earned on transactions made using Swiggy Money Wallet, Swiggy Minis, Swiggy Liquor, and other excluded categories, limiting cashback opportunities.
- Limited Offline Benefits:
- The card's benefits are primarily geared towards online and Swiggy transactions, with fewer perks for offline or in-store spending.
- Potential Overspend Risk:
- Users might be tempted to overspend to meet the fee waiver threshold, leading to potential financial strain.
- Nominal Interest on Revolving Credit:
- While revolving credit offers flexibility, the interest rates can add up if balances are not paid off promptly.
| ๏ปฟFeature | Details |
|---|---|
| Type of Card | Credit Card |
| Annual Fee | โน500 + applicable taxes |
| Joining Fee | โน500 + applicable taxes |
| Reward Rate | 10% cashback on Swiggy transactions 5% cashback on online spends 1% cashback on other categories (with exclusions) |
| Renewal Rate | โน500 + applicable taxes (Fee waiver on annual spends of โน2,00,000 or more, with certain exclusions) |
Conclusion and Overall Rating
The Swiggy HDFC Credit Card stands out as a highly rewarding credit card for frequent users of Swiggy's services and online shoppers. With its significant cashback rates on Swiggy transactions and broad online spends, it offers substantial savings and value. The inclusion of a complimentary Swiggy One membership further enhances its appeal, providing additional benefits such as free delivery and exclusive discounts.
However, the card's high annual spend requirement for the fee waiver and limited offline benefits might not make it suitable for everyone. The exclusions on certain transactions for cashback and the potential risk of overspending to meet the fee waiver threshold are also considerations that potential users should keep in mind.
Key Highlights:
- Rewards and Benefits: 5/5
- Fees and Charges: 4/5
- User Experience: 4.5/5
- Additional Perks: 4.5/5
- Flexibility and Convenience: 4.5/5
The Swiggy HDFC Credit Card is best suited for individuals who frequently use Swiggy and make a significant amount of their purchases online. Its robust rewards program and additional perks make it a valuable addition to the wallet of any avid online shopper or Swiggy enthusiast. However, those who prefer offline shopping or have lower annual spending may find other cards more suitable.
