FAQ: What Is Money Back Credit Card?


What is HDFC money back credit card?

HDFC Money Back Credit Card is an exclusive credit card which ensures maximum Cashback as compared to others in the similar segment. The card gives its bearer multiple opportunities to earn moneyback rewards. These Reward Points can be redeemed for exciting gifts and attractive offers.

What does it mean when you get cash back on a credit card?

Credit card cash back rewards are bonuses provided to credit card customers when they use their cards to make purchases. Cash back rewards operate on a percentage basis. An example: If you have a card with a purchase rewards rate of 1.5% and you make $100 in purchases, you would earn $1.50 in cash back.

What is the limit of money back credit card?

HDFC Moneyback Credit Card Fees & Charges

Type of fee/charge Amount
Cash advance limit 40% of the credit limit
Rewards redemption fee Rs.99 per request
Late payment charges Less than Rs.100 – None Rs.100 to Rs.500 – Rs.100 Rs.501 to Rs.5,000 – Rs.400 Rs.5,001 to Rs.10,000 – Rs.500 Rs.10,001 and above – Rs.750
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How does HDFC credit card cashback work?

The cashback, once an order is successfully paid, will be credited to the user’s HDFC credit card account within a period of 7 days. The offer cannot be clubbed with the Education Program offers and is valid only on a single item purchase once per card.

Is HDFC MoneyBack credit card lifetime free?

HDFC MoneyBack Credit Card This is one of the best low-fee credit cards in the market and its benefits are no less than the benefits of a lifetime free credit card. Given below are some of its key highlights: Earn 2 reward points per Rs. 150 and get twice the rewards on online spends.

Is HDFC MoneyBack credit card good?

Hdfc Moneyback Credit Card is one of the best cashback credit cards available in the India which gives reward points on all retail spends with few exceptions like government bills and such. Tip: If your monthly expenses are less, you can also use HDFC platinum DEBIT card to avail 1% cashback up to Rs. 750 per month.

Is cash back good or bad?

Getting a credit card that offers cash back always sounds like a good idea. However, you need to keep in mind that they are not going to give you cash back on every purchase that you make. Even if they claim to give you cash back on every purchase, they will only give you up to a certain amount per transaction.

Which credit card has best cash back?

Best Cash Back Cards – Cash in with July 2021’s Top Offers: Wells Fargo Active Cash ℠ Card: Best for 2% cash rewards. Blue Cash Preferred® Card from American Express: Best for groceries. Capital One Quicksilver Cash Rewards Credit Card: Best for 1.5% cash back. Citi Custom Cash ℠ Card: Best for automatic bonus category.

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Is a cash back credit card worth it?

Most major credit cards offer rewards —but are rewards credit cards worth it? In most cases, yes. When used responsibly, a rewards credit card can help you save money on everything from travel bookings to Amazon purchases.

How do I pay back credit card?

Check the interest rate section of your statements to see which credit card charges the highest interest rate, and concentrate on paying that debt off first. Pay off the card with the smallest balance first, then take the money you were paying for that debt and use it to pay down the next smallest balance.

How do I increase my credit card limit?

How can you increase the credit limit on your Credit Card?

  1. Boost Your Credit Score.
  2. Repay dues on time.
  3. Be careful about the Credit Utilisation Ratio.
  4. Show proof of increase in income.
  5. Reduce the financial obligations you have.
  6. Apply for a new card.

Can you get money back from credit card?

There are many reasons you might want to return a purchase and get your money back. If you bought the item with a credit card, you ‘ll get reimbursed in the form of a credit card refund. A credit card refund happens when you return a product you purchased using a credit card and get a credit to your account.

How do credit card cashback works?

Each time you use the card, you earn a percentage of your spend back in the form of cashback. Most cashback cards credit the amount you earned onto your statement, reducing your credit card bill. Some cards send the cashback to a bank account so you can spend it, or let you convert it to points or vouchers.

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Can I convert HDFC reward points to cash?

Yes, you can convert your HDFC Bank credit card reward points to cash, but it is not available on all cards. The amount will be added to your credit card account, which can be used to pay the outstanding principal. You must also remember that for each redemption, the bank charges a fee of Rs. 99.

How can I get cash from HDFC credit card?

How to Withdraw Cash Using an HDFC Credit Card?

  1. Visit HDFC ATM.
  2. Insert your credit card, enter your PIN.
  3. Select your preferred language.
  4. From the options, select ‘ Cash withdrawal’
  5. Enter the amount and press ‘Confirm’

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