HDFC Forex Card : Earn 15,000 Bonus Points with This Smart Trick!

[CardTroller]

Are you wondering why everyone is suddenly applying for an HDFC Forex card?

As you all know, HDFC Bank is now offering 5X reward points on Infinia, Biz Black, and a few other cards for loading the HDFC Forex card. Bhavye has already written a detailed guide on this here: https://www.technofino.in/community/threads/hdfc-forex-card-load-5x-reward-points-offer.37561/

But why would people buy a Forex card and hold money if they aren’t planning to travel anytime soon?

Well, there’s a loophole! Don’t worry—it’s not illegal or unethical like some Axis Bank loopholes.

Here’s how it works:

1. Load your HDFC Forex card using an HDFC credit card, preferably Infinia or Biz Black, to earn 5X bonus reward points (up to 15,000 points).
2. After loading your Forex card, email HDFC Bank and inform them that your travel plans have been canceled and request a refund of your Forex card balance to your savings account.
3. HDFC Bank will process the refund at the prevailing exchange rate.

In this process, you will incur some exchange fees. To earn the full 15,000 bonus points, you might lose around ₹3,000 in exchange fees. However, in return, you’ll gain valuable 15K reward points.

Cheers, and enjoy this trick (Loophole)! 🎉

Credit: This loophole was originally shared by @RewardsAlert in his private group within the TechnoFino Community.

 

[arun4455]

As per this tnc, credit to the saving account would not be considered as reversal of the transaction?

 

[Batman]

Not a "loophole". HDFC Call support - both CC team and Forex team confirmed that this mechanism is by design. Money needs to be transferrable from Forex card to Bank account in accordance with RBI guidelines.

Calling it a loophole is incorrect. It doesn't need to be patched by the bank.

HDFC can choose not to offer 5x points in future for such cases, if this offer is ever available again. But the bank knew what they were doing. They went ahead with it anyway. Hence, not a loophole/trick.

 

[CodeCrusher]

did anyone try to get the amount back in savings account? what % of total amount is deducted?
And what’s the process to get it?

 

[thanix]

did anyone try to get the amount back in savings account? what % of total amount is deducted?
And what’s the process to get it?

I think it will be the buy rate of bank that day which will mostly be 2% less than market rate. You generally need to give a cash out request, either at branch or phone banking.

 

[CodeCrusher]

I think it will be the buy rate of bank that day which will mostly be 2% less than market rate. You generally need to give a cash out request, either at branch or phone banking.

So i just lose 2%?

 

[thanix]

So i just lose 2%?

Possibly 4% as there is mark up of almost 2% during buying. Banks make their money by arbitrage.

 

[sunit123]

Possibly 4% as there is mark up of almost 2% during buying. Banks make their money by arbitrage.

Also 2/3% loss due to appreciation of rupee depending on when he loaded...so total loss around 6/7%

 

[jamesdolan]

 

[drsel]

did anyone try to get the amount back in savings account? what % of total amount is deducted?
And what’s the process to get it?

You will lose 6 to 7% real money and also all the points will be reversed, if you transfer back to savings account.

 

[aashishnb]

Seems like a good strategy to copy and paste someone else's insider content, and repost it as your own!
View attachment 87217

I just have a few questions if someone can help me:
1. Why is there a withdrawal fee of 2.5%. Is this because they are treating it like a cash advance?
2. If yes, then wont we be charged interest also on the amount, because I seem to recollect that for cash advance we do not get free credit period.
3. If they charge 2.5% forex spread now, they will charge 2.5% forex spread on reversal of balance money back to card also?

4. Not linked, but for someone actually traveling abroad, would it not be better to just use the Infinia card & subscribe to the GVP, wherein net forex markup will be 2% & 1% of that will get back as points?

 

[Bhokaal]

4. Not linked, but for someone actually traveling abroad, would it not be better to just use the Infinia card & subscribe to the GVP, wherein net forex markup will be 2% & 1% of that will get back as points?

I prefer this and did it on my last trip.
Why do you say it is 1% back? it is the normal points around 3% plus 1% for GVP

 

[aashishnb]

I prefer this and did it on my last trip.
Why do you say it is 1% back? it is the normal points around 3% plus 1% for GVP

I meant 1% for the GVP where cost is 2%.

The normal ones that you get is separate in any case.