HDFC Bank Credit Card .... Review on HDFC Bank Visa Credit Card

The credit card business has become highly competetive. You have agents barging in at all times trying to sell credit cards of some Bank or the other. I have been always weary of these agents. Not that I don't use credit cards. I have been using Credit cards since its inception in this country. And my usage of the cards is extremely high. Already saddled with many cards I try to avoid any agent trying to approach me.

But the story of HDFC Credit cards was different. I have been banking with HDFC Bank since April 2000 and am very pleasantly impressed with their services esp. the high tech ideas. I therefore gave an ear to the sales pitch of the HDFC agent.

Today I possess one more card - the HDFC VISA credit card.

The features that impressed me were

1. Double the Reward points - 2 points for every Rs. 100/-. Other cards offer only 1 point.

   
   




2. An initial credit period of 90 days. No interest for 90 days and you repay back just 5% of the bill amount. I could splurge on the card and keep my money in Fixed Deposits earning interest. After the 90 day period I will close the FD and clear the credit card dues. On Rs.60000/- spent I earn a cool Rs.1000/- Bank interest thru' this FD at 7%.

   
   




3. The lowest interest rate.

   
   




4. The facility to transfer from your HDFC Bank account to the Credit Card account online.

   
   

I thus summarise its advantages as under

H - High credit period

D - Double Reward points

F - Falling Interest rates

C - Credit Card

My only negative point for this card is the lack of online transaction viewing facility. This is surprising considering HDFC Bank is such a high tech bank.