In the fast-paced world of credit cards, the HDFC Bank Swiggy Credit Card has emerged as a game-changer, especially for food enthusiasts looking to reap rewards on their dining expenses. This card’s unique selling point (USP) lies in the lucrative cashback it offers for Swiggy expenditures, making it a delightful choice for those who frequently indulge in food orders, Instamart, and Dineout. But that’s not all; it also extends its cashback benefits to various online purchases, including apparel and electronics. In this comprehensive review, we’ll dissect the Swiggy Credit Card and provide you with all the essential information you need to make an informed decision.
Table of Contents
Fees and Charges
| Fee/Charge | Amount (Rs.) |
|---|---|
| Joining Fee | Rs. 500 + GST |
| Welcome Gift | 3 months Swiggy One membership |
| Annual Fee | Rs. 500 + GST |
| Renewal Benefit | None |
| Annual Fee Waiver | On spends of Rs. 2 Lakhs in a membership year |
While the card’s annual fee of Rs. 500 is reasonable, it would have been ideal if it also included the 3-month Swiggy One membership upon renewal, providing added value for cardholders.
Cashback
The cashback offerings of the HDFC Swiggy Credit Card are undeniably generous, making it an attractive choice for those who love dining out or ordering in. Here’s a breakdown of the cashback rates and their respective caps:
| Spend Category | Cashback | Max Cap Per Billing Cycle (Rs.) |
|---|---|---|
| Swiggy Spends (Food Orders, Instamart, Dineout, and Genie) | 10% | Rs. 1500 |
| Online Spends (Apparels, Department Stores, Electronics, Entertainment, Home Decor, Medical Stores & Pharmacies, Personal Care, Local Cabs, Pet Stores & Supplies, Discount Stores) | 5% | Rs. 1500 |
| Other Spends | 1% | Rs. 500 |
| Excluded Categories | No cashbacks | – |
The 5% benefit on online spending eliminates the SBI Cashback Credit Card with added dining benefits with similar renewal spending criteria of 2 Lakhs and low renewal fees of Rs. 500 + GST compared to Rs. 999 + GST on the SBI Cashback credit card. But the SBI card gives lounge access which this misses majorly.
Important T&C of HDFC Swiggy Credit Card
These cashback caps are quite appealing, making the credit card a compelling choice for those who love dining out and shopping. It’s important to note that the minimum transaction value to qualify for cashback on the Swiggy Credit Card is Rs. 100.
However, it’s worth mentioning a small footnote in the terms and conditions. It states that the cashback is only applicable to selected merchants, although there is no official list of these merchants. While Amazon and Flipkart are confirmed to be included, other e-retailers may not be eligible.
You can apply for multiple co-branded HDFC credit cards. I already have HDFC Diners Black as primary and HDFC TataNeu Infity and this card is under my account.
Cashback Redemption
The cashback earned with this card is credited as “Swiggy Money.” It’s important to note that this cashback is not in the form of a direct statement credit. Swiggy Money can be utilized for various purposes, including food orders, Instamart, Dineout, and Genie spends on the Swiggy app.
To maximize your benefits, Swiggy Money with the closest expiry date will be utilized first, ensuring you get the most out of your rewards. Keep in mind that Swiggy Money expires one year from the date of earning.
Complimentary Airport Lounge Access
It’s important to note that the Swiggy Credit Card does not offer complimentary airport lounge access. This is in line with the trend of many entry-level credit cards reducing or eliminating such benefits.
Other Benefits and Charges
| Benefit/Charge | Details |
|---|---|
| Fuel Surcharge Waiver | Not available |
| Foreign Currency Transaction Charges | 3.5% + GST |
| Finance Charges | 3.6% per month / 43.2% annually |
HDFC Swiggy Credit Card Review
Summary
The Swiggy Credit Card offers enticing cashback rewards, especially for those who frequently order food or shop online. With the ability to earn up to Rs. 1500 cashback per billing cycle on Swiggy spends and online purchases, it’s a solid choice for individuals who prioritize dining and shopping experiences.
However, it’s important to acknowledge some of its limitations, including the absence of airport lounge access and the fact that cashback is provided in the form of Swiggy Money. Additionally, the cashback redemption process is limited to the Swiggy app.
If you are a food enthusiast who enjoys ordering in or dining out, the Swiggy Credit Card has the potential to provide substantial savings. While it lacks certain features like airport lounge access and a fuel surcharge waiver, it remains a competitive option in the entry-level credit card category.
In the ever-evolving landscape of credit cards, the Swiggy Credit Card adds flavour to the mix, catering to the preferences of foodies and online shoppers. If you’ve been considering a credit card that complements your dining and online shopping habits, this card is definitely worth exploring.