Credit Card Reviews

One Of The Best Cash Back Cards in India: HDFC Freedom Card Review

One Of The Best Cash Back Cards in India: HDFC Freedom Card Review

Review of the HDFC Freedom Card

HDFC is known to have the right mix of credit cards, just about something for everyone. Although they concentrate more on the premium credit cards since that is where the money is, they also have given equal importance to basic cards. The HDFC Freedom card is one such card that ticks all the right boxes. For people who are just entering the credit card arena, a no-frills basic credit card that offers them reasonable benefits is good enough. Therefore, if you are someone who wants your credit card to offer free lounge access or complimentary concierge services, this one is not for you.

Let’s begin with the eligibility criteria for the HDFC Freedom card. Being a basic credit card, almost anyone with a HDFC bank account is eligible for the card. Additionally, if you are a salaried person, you should have a monthly salary of Rs.12000. If you are self employed, you should submit the Income Tax returns documents that show you have an annual income of Rs. 2 lakhs or more.

 

What are the major benefits and features of the HDFC Freedom card?

One should not be misled by the fact that it is a basic card and it won’t have much to offer in terms of benefits and features. In fact, the HDFC Freedom card offers much more than what a regular basic credit card does. And the best part about is that HDFC has included offers in niche areas like cashbacks for taxi bookings made via Ola and Uber. Let’s look at other major benefits

  • The HDFC Freedom card offers a 5% cashback in the following segments
    • Movies
    • Dining
    • Super Market
    • Bill Payment
    • Taxi

The maximum cashback that can be earned from the above categories is restricted to Rs. 150 per statement cycle.

  • Additionally, 5% cashback can be won in the following categories also
    • Easy EMI
    • Payzapp
    • Smart Buy

The maximum cashback that can be earned from the above categories is restricted to Rs. 150 per statement cycle.

  • Cashbacks earned from spending made in the above categories will be retained as points which can be redeemed later
  • For an average spender, thus, the HDFC Freedom credit card allows an easy savings of Rs.3600 annually.
  • In addition to this, it also fuel surcharge waive offs at fuel stations across the country. Maximum cashback from this scheme is restricted to Rs.250 per cycle. Also, the minimum transaction amount for this is Rs.400
  • Apart from the above, the HDFC Freedom credit card comes with all the standard security features as well as other features like zero liability on lost card, revolving credit, interest free credit of up to 50 days and so on.
Fees and other charges

The HDFC Freedom credit card comes at a very reasonable annual fee of Rs.500 which is among the lowest in this category. Interestingly, customers can have this fee waived off if they spend Rs.20000 or more in their previous year.

Bottom line

As you can see, the HDFC Freedom credit card offers you the bare minimum and it is not recommended if you want a credit card that will reward you handsomely for purchases. On the other hand, if you are only foraying into the world of credit cards and wants to take it slow by opting for a good basic card, then it does not get any better than this. It has all the right ingredients to give you a full credit card experience. The savings that can be made using this card is not trivial by any measure. On top of that, HDFC offers to waive off the annual fee if you spend Rs.20000 or more.

Therefore, you can see that the HDFC Freedom credit card has a very specific target base and for them, this is the best card that they can have.

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