Credit Card Showdown: HDFC MoneyBack Plus vs. HDFC MoneyBack – A Comprehensive Comparison

HDFC MoneyBack Plus is basically an extended version of the HDFC MoneyBack Credit Card that offers a different range of rewards and benefits across multiple categories. However, as both are based on similar structures like earnings, rewards, fees, etc., analysing the differences is quite a challenge. To help you make a decision in choosing the right card for you, we have listed the comparison between the two.

But firstly, to simplify your decision, there are some parameters that we have jotted down to ease out the selection process.

• Credit Score Requirements:

A CIBIL score of 700-750 and above is usually accepted by the banks to issue a credit card to an applicant. But, of course, it is subject to the applicant meeting all other eligibility requirements. The credit card application will be rejected in case you have a credit score of less than 750. Hence, In India it becomes important to determine your CIBIL score before applying for a credit card

• Use of the card:

Before applying for a credit card, one should consider the need for the card. For example, in the case of a frequent traveller, a travel rewards card should be chosen. In the case of a credit card is required for daily purchases, look for a flat-rate rewards card.

• Fees:

Some of the fees to be considered while applying for a credit card are:

• Annual Fees
• Balance Transfer Fees
• Late Fees
• Foreign Transaction Fees

• APRs:

The credit card’s APR represents the interest rate that will be charged. But there is no interest if the entire balance is paid off each month. A single card also can have multiple APRs, including:

• Ongoing APR
• Introductory 0% APR
• Penalty APR
• Cash Advance APR

• Rewards: 

The type of rewards that one would prefer will depend on your spending habits and your willingness to put in extra work for rewards. 

• Credit limit:

The credit card limit means the maximum amount that can be borrowed on the credit card. It depends on credit history, credit score, relationship with the issuer, and some other factors. 

Highlights of HDFC Moneyback and Moneyback Plus Credit Card

Features and Benefits of HDFC MoneyBack Credit Card

Mentioned below are the features of an HDFC Moneyback Credit Card:

• Earn 2 Reward Points on every INR 150 spent (it excludes wallet loads, prepaid card loads, fuel transactions, and voucher purchases)
• Earn 2X Reward Points which means 4 Reward Points on every INR 150 spent online*
• Every quarter, get a gift voucher worth INR 500 on spends of INR 50,000. Earn up to INR 2,000 worth of gift vouchers in a year.

• In the unfortunate event of loss of your HDFC Bank MoneyBack Card, there is zero liability for any fraudulent transactions that are made on your credit card, when it is reported immediately to the 24-hour call centre. 
• Get up to 50 days of interest-free period on your HDFC Bank MoneyBack Credit Card from the date of purchase (subject to the submission of the charge by the Merchant)
• Enjoy Revolving Credit on your HDFC MoneyBack Credit Card at nominal interest rate.
• Enjoy amazing dining benefits with the Good Food Trail program.
• Get up to 20 % savings on all your restaurant bill payments via Swiggy Dine Out (20k + restaurants) (Offer inclusive of Restaurant and Swiggy Discount). The offer is valid only on payments made via the Swiggy App.
• Get a fuel surcharge waiver of 1% on fuel transactions (Minimum transaction of ₹400, Maximum transaction of ₹5,000 and maximum waiver of ₹250 per statement cycle).
• 500 Cash Points that are applicable only on payment of membership fee
• Get INR 500 worth of gift vouchers on spending ₹50,000 and above in each calendar quarter 
• Get a waiver on renewal of membership fees when INR 50,000 or above is spent in the first year.
• Convert your big purchases into EMI once it gets completed.
• This card is enabled for contactless payments, convenient, facilitating fast, , and secure payments at retail outlets.
• To see if the Card is contactless, look for the contactless network symbol on your Card.
• Reward Points accumulated on HDFC Bank MoneyBack Card can be redeemed against the statement balance at the rate 1 RP = ₹0.20
• The Cardholder must have a minimum of 2,500 Reward Points for redemption against the statement balance.

Features and Benefits of HDFC MoneyBack+ Credit Card

Mentioned below are the features of an HDFC Moneyback Plus Credit Card:

• The cardholders get 500 CashPoints as a welcome bonus.
• Get 5X CP in case any payment is being made on Equated Monthly Installment, i.e. EMI.
• This card comes with Zero Lost card liability benefit, which clearly indicates that in case of the card being lost, they will not be held liable for any type of fraud, but the same should be notified to the bank via customer care service.
• If the cardholder spends INR 50,000 in the previous year, he/ she gets entitled to a membership fee waiver in the anniversary year along with a gift voucher of INR 500.
• Get a waiver of 1% on fuel surcharge.
• Get 10X CP on purchases made at Flipkart, Reliance Smart Store, Swiggy, BigBasket, and Amazon.
• Get a 15% discount on dining at over 2000 select restaurants across India.
• Convert your big purchases into low-interest EMIs.

Conclusion

In a nutshell, if the basic earning of an individual is INR 20,000, but overall, he/ she does not meet the eligibility criteria of HDFC MoneyBack, then he/ she must go for HDFC MoneyBack+. Indeed, it is also a beneficial card with more benefits and is a good deal as Moneyback+ is an extended and improvised version of MoneyBack. It is easier to avail of this card, and also it offers much more benefits, rewards, and cashback. 

So, undoubtedly, this card is beneficial in all ways and a better deal to go with.