Tata Neu Infinity HDFC Bank Credit Card Review 2023

 

Tata Neu Infinity HDFC Bank Credit Card Review 2023

Following the lifting of the RBI ban, HDFC Bank has been consistently augmenting its credit card offerings. In conjunction with the Paytm and Emirates collaborations, the bank has now joined forces with Tata Neu (operated under Tata Digital) to unveil two co-branded credit cards: the Tata Neu HDFC Bank Infinity Credit Card and the Tata Neu HDFC Plus Credit Card. 

The premier option is the Infinity variant, boasting a multitude of exclusive advantages spanning diverse categories. Sporting a rewarding rate of up to 10%, it stands as a noteworthy contender among top shopping credit cards accessible in the Indian market.

The card's merits extend beyond shopping, encompassing enticing perks across various realms including travel, insurance, and lifestyle. Cardholders relish complimentary access to both domestic and international airport lounges.

Additionally, the card encompasses features such as air accident insurance coverage, card liability protection, and an array of other advantages. For an in-depth insight into the Tata Neu HDFC Bank Infinity Credit Card, its features, as well as fees and charges, continue perusing below:

Fees and Eligibility:

- Joining/Annual fee: Starting at 499 INR, plus applicable taxes. Waived with annual spending surpassing 100,000 INR.

- Minimum Monthly Income: 25,000 INR. For self-employed individuals, an annual income tax return of 600,000 INR is required.

Rewards and Benefits:

- Standard Reward Rate: 1% in Neu Coins for all expenditures excluding fuel, wallet reloads, and smart EMI transactions.

- Accelerated Reward Rate: 1% in Neu Coins for transactions involving Tata Neu and partnered Tata brands.

- No rewards for rent payments, government expenses, prepaid card purchases, gift card purchases, or voucher acquisitions.

- Grocery transactions are capped at 2,000 Neu Coins monthly.

- Neu points remain valid for one year.

Lounge Access:

- Domestic: Access to 4 domestic lounges, with a maximum of 1 per quarter.

- International: None.

Impressions on HDFC Tata Neu Credit Cards:

Positive Aspects:

Double Dip on Tata Neu App: HDFC Tata Neu credit cards offer the opportunity for a double dip on the Tata Neu app. The app provides a 5% cashback in Neu Coins for nearly all purchases conducted via the app. 

This translates to potential earnings of 7% (5% app feature + 2% card feature) for HDFC Tata Neu Plus Credit Card and an impressive 10% (5% app feature + 5% card feature) for HDFC Tata Neu Infinity Credit Card. These bonuses are bestowed on top of ongoing offers within Tata Neu brands. Frequent users of the Tata Neu app would find these credit cards particularly compelling.

Notable Savings on Utility Bill Payments: Accelerated rewards, namely 2% for the Plus card and 5% for the Infinity card, are also applicable to payments executed via Tata Pay. Consequently, settling utility bills through HDFC Tata Neu credit cards on the Tata Neu app results in a 2-5% reduction.

Rupay Option: HDFC Tata Neu credit cards are additionally accessible through the Rupay platform. Remarkably, the reward rate and features are consistent across Visa and Rupay variants. Furthermore, Rupay credit cards are now compatible with UPI, allowing for seamless scanning and payment using the credit card. However, rewards for UPI expenditures are capped at 500 Neu Coins per month.

Dual Card Possibility: HDFC Bank formerly adhered to a one-customer-one-credit-card policy. This stance has evolved with the introduction of this credit card, enabling customers to hold two HDFC credit cards. Thus, individuals need not close their existing HDFC card should they opt to apply for this new one.

Favorable Point Calculations: The computation of reward points is straightforward and favors cardholders. For instance, a 250 INR expense on a partner Tata brand using the Infinity credit card qualifies for a 5% reward rate. This amounts to 5% * 250 = 12.5 reward points, rounded to 13 points, effectively yielding a 5.2% reward rate.

Negative Aspects:

Omissions Among Popular Tata Brands: The HDFC Tata Neu credit card features an array of partner Tata brands, including 1Mg, BigBasket, Croma, Air Asia, Tata Cliq, IHCL, Westside, Qmin, Tata Play, and Cult. From January 1st, 2023, Titan and Tanishq have been added, providing additional Neu Coins. 

Notably absent are several other well-known Tata brands, such as Air India and Vistara (capturing approximately 20% of the Indian aviation market).

Consequently, expenditures within these excluded brands yield only base reward points on the credit cards. The hope remains that these brands will be incorporated in the future, although for now, such a shortfall is acknowledged.

Time Constraint on Neu Coins: Tata Neu coins are restricted to a one-year validity period and are applicable solely within the Tata Neu app or for payments made through the Neu app. This necessitates a continual earn-and-redeem approach, precluding extended accumulation and subsequent redemption.

Fair Usage Policy: While not inherently negative and, in fact, a positive attribute enhancing the product's sustainability and guarding against feature abuse, users must bear in mind monthly and yearly spending limits imposed on all partner Tata brands for both Plus and Infinity credit cards.

Comparison with SBI Cashback Credit Card:

Comparisons naturally arise between HDFC Tata Neu credit cards and the renowned SBI Cashback credit card. The interactive calculator below facilitates such a comparison.

The HDFC Tata Neu Infinity credit card demonstrates superiority over the SBI Cashback credit card in simulated expenditures. Particularly following the SBI Cashback card's devaluation, its appeal is notably diminished outside online payments.

Feel free to input your monthly expenses into the calculator to determine the credit card offering the most favorable reward rate.

In Conclusion:

Tata HDFC Neu credit cards prove an evident choice for individuals engaged in regular spending within the Tata ecosystem. This notably applies to transactions with BigBasket, 1mg, Croma, Cliq, Westside, among others. However, even for those beyond this category, acquiring Tata Neu credit cards is recommended. Opting for the Rupay variant and transitioning UPI transactions to the credit card holds merit. Additionally, the 5% Neu Coins on utility bill payments should not be overlooked.

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