Recently HDFC Bank has tied up with Swiggy and launched a new credit card named HDFC Swiggy Credit Card. This credit card has been specially launched by HDFC Bank to provide benefits to Swiggy customers and it is an entry level credit card. Now, how can this best credit card of HDFC be beneficial for you and whether you should apply for this credit card or not, we will know all this in this article today. As you all know that every bank launches each of its credit cards by targeting a specific type of customers, so today we will talk about the people by targeting whom HDFC Bank has launched this credit card?
A Quick Overview of HDFC Swiggy Credit Card:
| Features | HDFC Swiggy Credit Card |
| Joining Fee | ₹500 /- + Applicable Charges |
| Annual Fee | ₹500 /- + Applicable Charges |
| Annual Fee Waived Off | If you spend ₹ 2,00,000 or more within a year, prior to your Credit Card renewal date, you can have your renewal fee completely waived. |
| Eligibility | For salaried Person: Age: Min 21 years & Max 60 Years Net Monthly Income > ₹25,000 For Self Employed: Age: Min 21 years & Max 65 Years ITR > Rs 6 Lakhs per annum |
| Welcome Benefit | Get complimentary Swiggy one Membership for First 3 Months |
| Additional Features | 10% Cashback on Swiggy application. Click here for more details 5% Cashback on online spends across online MCCs. Click here for MCCs details. 1% Cashback on other categories. Click here for more details. |
| Contactless Payment Enabled | Yes |
Detailed Review Of HDFC Swiggy Credit Card:
Welcome Benefit:
After taking this credit card, you get membership of Swiggy One for the first three months whose value is Rs. 1199 and this is a one time benefit, next year you will not get this benefit.
Annual Fee and Eligibility:
Joining and Annual Fee of this credit card is ₹500+GST. If you spend more than two lakh rupees in a year using this credit card, then your annual fee is waived off.
Talking about the eligibility for this card, if you are a salaried person then your age should be between 21 to 60 years and your monthly income should be ₹ 25,000 or more, only then you will be eligible for this card.
And if you are a Self-Employed person, then you should have ITR of ₹ 6,00,000 or more and your age should be between 21 to 65 years.
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Reward System:
The main benefit of this credit card is its rewards system. You do not get any extra benefits on this credit card.
| Spends Category | Cashback Rate | Capping | Exclusion |
| Swiggy Application (Food Ordering, Instamart, Dineout & Genie). | 10% | Rs. 1500 Per Billing Cycle | Swiggy Money Wallet, Swiggy Liquor, Swiggy Minis |
| Online Spends Across Top Brands/Categories* | 5% | Rs. 1500 Per Billing Cycle | Describe Below |
| Other Categories (Online & Offline) | 1% | Rs. 500 Per Billing Cycle | Fuel, Rent, EMI, Wallet, Jewellery, Government Payment |
Through this credit card, you get 10% cashback on whatever you spend on Swiggy application. But on this you get to see a capping of Rs 1500 per billing cycle. Now, on this 10% cashback offer, you also get to see exclusion on some transactions on which you do not get this 10% cashback. This transactions category is Swiggy Money Wallet, Swiggy Liquor, Swiggy Minis etc.
If you spend on top brands or categories or do online shopping, you get 5% cashback on this HDFC Swiggy Credit Card. Now whether you shop on Amazon, Flipkart or any other online e-commerce store, you will get 5% cashback there. But here you will not see this offer on Groceries because they have already selected their Instamart platform for Groceries. Therefore, if you purchase grocery products anywhere else except Instamart, you will not get this cashback there.
You also get a capping of Rs 1500 on cashback for online spends. Now on which categories you get this 5% cashback, you can see below –
| Category | MCC |
| Apparels | 5137,5139,5611,5621,5631,5641,5651,5655,5661,5691,5697,5699,5948 |
| Department Store | 5200,5300,5311,5331,5949,5973 |
| Electronics | 1731,5045,5046,5065,5099,5722,5732,5734,5946,7372,7622,7623,7629,7631 |
| Entertainment | 4411,4899,5193,5992,7032,7033,7333,7832,7911,7922,7929,7933,7991,7996,7997 |
| Home Décor | 5198,5211,5231,5251,5712,5713,5714,5718,5719,5950,7641 |
| Pharmacies | 5122,5912,5975,8042,8043 |
| Personal Care | 5977,7230,7297,7298 |
| Local Cabs | 3351,3359,3387,3389,3390,3393,3395,4121 |
| Online Pet Stores | 5192,5733,5735,5941,5942,5945,5995,7829,7941 |
| Discount Stores | 5399 (Flipkart, Amazon, Meesho, Ajio) |
Apart from this, if you spend online or offline in any category, then you get 1% cashback on this card and in this too you are given a capping of Rs 500 per billing cycle. Now here too you are not given this 1% cashback in some categories which are as follows – Fuel, Rent, EMI, Wallet, Jewellery, Government Payment etc.
HDFC Swiggy Credit Card Cash Back and Redemption:
The cashback you get by using this credit card is not available as statement credit. Whatever cashback you earn from this card you will get in the form of Swiggy Money. And its biggest drawback is that you can use this cashback only on Swiggy. You will be able to use the cashback you have earned only on these categories: Instamart, Food Ordering, Dineout & Genie.
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Right now here you can understand that this is a True Co-Branded Credit Card in which you are completely bound that whatever cashback you earn from here, you will have to spend it on us again. So if you are a Swiggy fanboy, then this credit card will be suitable for you only.
Cashback utilization in this credit card has become very limited because here you cannot convert cashback into real money. And in such a situation, it is possible that you may have to order unnecessary food on Swiggy, so if most of your food and groceries related expenses are spent on Swiggy, then this card can be beneficial for you.
The best utilization of cashback earned from this credit card can be done through Swiggy Instamart. Because through Instamart you can order things used daily at home. But the problem here is that Instamart is not available everywhere. You will find Instamart’s service to be very limited, you will see it more in big cities like Metro Cities.
Whatever cashback you make here will remain valid in your Swiggy account only for 1 year and if you do not utilize your cashback for 1 year, then it will expire without any use.