HDFC Bank and Swiggy recently launched a co-branded credit card, the Swiggy HDFC Bank Credit Card. This is the first co-branded credit card from the food delivery cum grocery delivery giant, Swiggy. Let's first check the card details.
Fees:
Annual Fees: Rs. 500 + GST
Annual Fee Waiver Criteria: Spend ₹2L in a year.
Welcome Benefits:
Complimentary Swiggy One Membership for 3 months (onetime benefit)
This is a very basic credit card, so it doesn't have any specific main benefits associated with it. Let's check its reward system.
Reward System:
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 | See The Below Chart* |
Other Categories (Online & Offline) | 1% | Rs. 500 Per Billing Cycle | Fuel, Rent, EMI, Wallet, Jewellery, Government Payment |
List Of 5% Cashback Categories With Merchants Category Code (MCC):
* Please note that only selected merchants mapped under the below list of MCCs are eligible for 5% Cashback Category.
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 Decor | 5198,5211,5231,5251,5712,5713,5714,5718,5719,5950,7641 |
Medical Stores & Pharmacies | 5122,5912,5975,8042,8043 |
Personal Care | 5977,7230,7297,7298 |
Local Cabs | 3351,3359,3387,3389,3390,3393,3395,4121 |
Pet Stores & Supplies | 5192,5733,5735,5941,5942,5945,5995,7829,7941 |
Discount Stores | 5399 |
You'll receive cashback in the form of "Swiggy Money," and it will be valid for one year from the date of earning the cashback.
You can redeem your Swiggy Money earned via the Swiggy HDFC Bank Credit Card on the Swiggy application on the following Swiggy platforms:
- Food ordering
- Instamart
- Dineout
- Genie
Eligibility Criteria:
Salaried:
- Age: 21 to 60 years
- Income: Rs. 25,000 Per month or more.
Self-Employed:
- Age: 21 to 65 years
- Income: ITR Of Rs. 6,00,000 or more.
Application Link:
https://bit.ly/TFHDFCSW
This is a very basic credit card with its main benefit lying in its reward system. By spending Rs. 15,000 a month on the Swiggy app, you can earn Rs. 1500 cashback. Additionally, you can earn 5% cashback from various online websites like Amazon, Flipkart, Myntra, Online Medicine Ordering Websites, and others listed under MCCs (Merchant Category Codes).
If you spend Rs. 10,000 on Swiggy (for food and grocery delivery) and Rs. 15,000 on other 5% merchants (Amazon/Flipkart/Myntra/Online Medicine/etc) per month, you can earn a total of Rs. 1,750 cashback each month. That's Rs. 21,000 cashback in a year against Rs. 3 lakh worth of spends, which is equivalent to 7% cashback.
However, the only drawback of this credit card is that you can only redeem your cashback on the Swiggy app, limited to food delivery, dining, grocery delivery, or Swiggy Genie (local parcel delivery). If you are comfortable with this type of redemption, this card is a good choice. Otherwise, if you prefer real cashback, you may want to consider the HDFC Bank Millennia Credit Card or other credit cards in the same category.