Review of the HDFC Platinum Edge Card
HDFC Platinum Edge Card refers to a premium cashback credit card, which features incredible privileges. It is the best card for folks that are into dining out and flying frequently. With this card, you stand to benefit from an array of benefits whenever you’re dining out either yourself or with your family. It is a great card for those who are passionate about traveling across the globe. One of the best attributes about the card is the fact that you can earn much better savings with cashback offers of your card. With this card, it’s highly possible to redeem cash against your outstanding amounts.
HDFC Platinum Edge
- Rs 15 = 100 Rewards Points
- Renewal Fee Reversal at 50,000 Rs. Spend
- Cash limits of 40% of card limit
Chances of Approval:
Here’s what you need to know about the eligibility for the HDFC Platinum Edge Card:
- Salaried Employee
- Maximum age is 60 years
- Minimum age is 21 years
- Maximum age – 65 years
- Minimum age – 21 years
Benefits and Features
You’ll enjoy 2 reward points for each 150 Rs. that you spend on the card. You have the option of accumulating your reward points and then redeeming all of them as cashback. When redeeming your points as cashback, you do it against outstanding amounts on your card.
Rs. 15 = 100 Reward Points
You can always redeem your points for air miles and exciting gifts from the exclusive rewards catalogue. You’ll be charged on the applicable redemption rate.
From 15th April 2016, it’s not possible to accrue your reward points for fuel transactions.
Another impressive feature of this card is the fact that it has a zero liability protection enabled. That goes miles in protecting the cardholder from any fraudulent transactions of her/his card.
It’s possible to revolve your credit facility at very low interest rates.
- Enjoy close to fifty days of an interest free period
- Save close to 1,800 Rs. annually if you’re spending Rs. 6000 on fuel monthly
- Obtain cash backs of up to 2,900 Rs. on all reward points collected
- Get renewal fee reversals anytime you spend 50,000 Rs. prior to expiry of your card’s validity
- Enjoy cash limits of 40% of credit limit on your card. You can always make cash withdrawals at any HDFC bank ATMs or the partner ATMs
- Once you spend 10000 Rs. on your card after the first ninety days of getting the card, you qualify to receive your maiden year annual fee reversed.
Do the accumulated reward points expire?
Reward points normally expire after two years from the accumulation date
Payment modes available
You can always repay the outstanding amounts on your card account through any of the following ways:
- Cash payments in any of HDFC Bank branches
- Bill desk facility
- NEFT fund transfer
- Standing instructions
- Net Banking or Phone Banking
For any cash withdrawals at any ATM abroad or in India, you’ll have to part with a cash advance of 2.5% or a minimum of Rs. 300, whichever is higher. That amount is usually levied by the bank.
Charges and Fees
- Renewal/Annual fee – 500 Rs.
- Cash Advance Limit – 40% of credit limit
- Reissue of damaged, stolen, or lost card – 100 Rs.
- Add on card fees – Nil
- Late payment charges – Up to 700 Rs.
Terms and Conditions
- Cashback is credited to your account within ten working days from date of receipt of the form
- Cashback will reflect only in the subsequent credit card statement
- The minimum 500 reward points will be available in your card account
- The maximum reward points that are available for redemption appear as per your last statement
- The redemption fee of 75 Rs. won’t be applicable as you redeem your points as cashback
What is for sure is that the HFDC Platinum Edge Card is one of the best credit cards that are available to Indians. It offers consumers countless reward points on many retail spends with some exceptions such as government bills. You can redeem your accumulated points at the applicable rate. One attribute that makes this card stand out is that it offers you reward points across multiple expenditures. With it, you can enjoy reward points all your spend categories. Unlike other credit cards, you can enjoy unlimited rewards. Nonetheless, you must always ensure you redeem the rewards within two years, as they tend to expire after that duration.
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