In-depth review
HDFC MoneyBack+ Credit Card
A competent entry-level cashback card — 10X CashPoints on Amazon, Flipkart, Swiggy, Reliance Smart and BigBasket, a ₹500 fee waived at ₹50,000, a 500-CashPoint welcome benefit (worth ₹100), and a ₹500 voucher for each quarter you spend ₹50,000. It was NOT spared 2026's HDFC devaluation — the earn denominator widened from ₹150 to ₹200 on 15 May 2026, and the CashPoint itself was cut to 20 paise on 1 November 2025. The trouble: HDFC's own Millennia covers more platforms and generally pays better (for a ₹1,000 fee against ₹500), and the MoneyBack+'s low CashPoint value caps its return. A fine first HDFC card, rarely the best one.
Read the full review →Key features
What this card is built to do — the highlights that actually matter.
Welcome Benefit
~₹100 in vouchers, points or cashback in year one — usually conditional on a first spend within 30–90 days
10 points/₹100 on Online Shopping (~2% value)
10X CashPoints (20 per ₹200, ~2.0% at ₹0.20/point) — capped 2,500 CashPoints/month. ⚠ HDFC also caps grocery at 1,000 CashPoints a month but prints that rule under the BASE-rate section, so whether it bites BigBasket and Reliance Smart inside the 10X tier is genuinely ambiguous. Assume it can.
0.2% on Other
2 CashPoints per ₹200 (~0.20% at ₹0.20/point) on all other spends. Fuel, rent, government, wallet/gift-card loads and EMI earn nothing. UPI earning applies only to the RuPay variant.
Annual Fee Waiver
Fee of ₹500 + 18% GST (₹590 all-in)/yr fully waived when you spend ₹50,000/year
Milestone Bonus
~₹1,000 in bonus rewards on hitting annual spend milestones
For entry users who shop the five 10X partner brands within the monthly cap and want a simple low-fee card.
Full reward structure
What you earn on every rupee, per spend category — as of 16 Oct 2026. Rates assume 1 pt = ₹0.20. How we value points →
| Category | Type | Rate | Monthly cap |
|---|---|---|---|
| Online Shoppingonly at Flipkart, Amazon, Swiggy, Reliance Smart, BigBasket | reward points | 2%10 pts/₹100 × ₹0.20 | ₹500 |
| Other | reward points | 0.2%1 pts/₹100 × ₹0.20 | — |
Online Shopping: 10X CashPoints (20 per ₹200, ~2.0% at ₹0.20/point) — capped 2,500 CashPoints/month. ⚠ HDFC also caps grocery at 1,000 CashPoints a month but prints that rule under the BASE-rate section, so whether it bites BigBasket and Reliance Smart inside the 10X tier is genuinely ambiguous. Assume it can. · Flipkart, Amazon, Swiggy, Reliance Smart, BigBasket
Other: 2 CashPoints per ₹200 (~0.20% at ₹0.20/point) on all other spends. Fuel, rent, government, wallet/gift-card loads and EMI earn nothing. UPI earning applies only to the RuPay variant.
Earns nothing on: Fuel · Rent · Wallet Loads · Government & Tax · EMI Conversions
These spends earn no rewards at all — not a reduced rate, and not the base rate. They are also normally left out of any milestone or fee-waiver calculation.
Fees & charges
The numbers that matter beyond rewards — verify on the issuer site before applying. Fees below are shown inclusive of 18% GST, as of 16 Oct 2026.
| Charge | Amount |
|---|---|
| Annual fee (incl. 18% GST) | ₹590 |
| Joining fee (incl. 18% GST) | ₹590 |
| Renewal benefitCredited each year the annual fee is charged; none in a year it is waived on ₹50,000 of spend. | ≈ ₹100 |
| Finance charge (APR) | 3.75% p.m. |
| Forex markup | 3.5% |
Perks & benefits
Estimated annual value beyond rewards — ~₹1,600/yr in total.
₹500 gift voucher (Swiggy/Myntra/Pizza Hut/Apollo etc. via GyFTR) each calendar quarter on ₹50,000 of net spend in that quarter — up to ~₹2,000 a year if you clear it every quarter
1% fuel surcharge waiver at all fuel stations (₹400–₹5,000 per txn), capped ₹250/statement cycle
Should you get it?
- Best for: HDFC account holder wanting simple cashback, Regular shopper on Amazon, Flipkart, Swiggy or BigBasket, Salaried earners above HDFC's ₹20,000-a-month bar whose primary bank is HDFC, Step-up from a basic HDFC debit card
- Entry tier — great for first-time and lower-spend users.
- Strongest value if you spend heavily on everyday spends (0.2% back; 2% only at Flipkart, Amazon, Swiggy, Reliance Smart, BigBasket).
Pros & cons
✓ Pros
- 10X CashPoints (~2.0%) on Flipkart, Amazon, Swiggy, Reliance Smart and BigBasket
- Simple statement-credit redemption (minimum 2,000 CashPoints, worth ₹400)
- 500 CashPoints each as welcome and renewal benefits
- ₹50K annual waiver is one of the easiest fee waivers in the HDFC portfolio
✕ Cons
- A CashPoint is worth ₹0.20 against the statement, not ₹1 — the headline 10X is really ~2.0%
- HDFC cut that from ₹0.25 on 1 November 2025, and widened both denominators ₹150 to ₹200 in May 2026
- No lounge access or lifestyle perks
- Designed for HDFC account holders — value outside HDFC ecosystem is limited
- 10X is capped at 2,500 CashPoints/month; outside the five partner brands you earn ~0.20%
Eligibility & documents
This is the figure for salaried applicants. Where HDFC Bank sets a separate one for the self-employed, its own eligibility page gives it.
Documents required
- 📄PAN card
- 📄Aadhaar / valid address proof
- 📄Latest 3 months bank statement
- 📄Income proof — salary slips (salaried) or ITR (self-employed)
- 📄Recent passport-size photograph
How to redeem rewards
Ways to convert what you earn into real value.
- 🎁Statement credit at ₹0.20 a CashPoint (₹0.25 before 1 Nov 2025) — minimum 2,000 CashPoints, ₹50 fee
- 🎁Online rewards catalogue (vouchers, merchandise) — ₹99 + taxes handling charge per redemption
- 🎁Flight & hotel bookings via SmartBuy
- 🎁Maximum 15,000 reward points earned per statement cycle; points lapse after 2 years
What your HDFC Reward Points are worth
Realistic value per point by redemption route — the difference is what most people leave on the table.
Standard catalogue & cashback
Brand & e-gift vouchers
₹0.50/pt on travel via SmartBuy on most HDFC cards; Infinia, Infinia Metal and Diners Club Black redeem at ₹1 there
CashPoints redeem at a low fixed ₹0.20 and everything outside the five 10X brands earns ~0.20% — for broad online spend, the Millennia usually beats it.
Frequently asked questions
What is 1 CashPoint worth?
What earns 10X?
Is there a minimum for redemption?
Is there any lounge access?
What is the annual fee waiver?
How has the HDFC MoneyBack+ Credit Card changed over time?
Has the HDFC MoneyBack+ Credit Card been devalued recently?
When did the HDFC MoneyBack+ Credit Card's fees last change?
How did the HDFC MoneyBack+ Credit Card change in 2026?
The bottom line
A reasonable entry card if you shop the 10X partners, but keep the maths honest: a CashPoint is worth ₹0.20 since 1 November 2025, so the headline 10X is ~2.0% and is capped at 2,500 points a month. Outside those brands it earns ~0.20% — fine as a starter, not a primary. Note the card did NOT escape the May 2026 revision: its base and 10X denominators both widened from ₹150 to ₹200.
How this page was built
Counted from this card’s own record: 2 earn rules, 1 of them capped, 1 paid only at named merchants, the spends listed as earning nothing and 2 recorded perks. The renewal fee is conditional — it is waived on a published spend target, so the fee you pay depends on what you spend.
Last updated 16 Oct 2026.
Sources & verification
Fees, reward rates, and benefits for the HDFC MoneyBack+ Credit Card are taken from HDFC Bank's official Most Important Terms & Conditions (MITC) and fee schedule — see the card's official page. Last updated 16 Oct 2026. Reviewed by Devchandra Sah. Always confirm current details on the issuer's site before applying. How we research →
Independence. CardAdvisor is an independent editorial publication. We are not affiliated with, endorsed by, sponsored by, or authorised to act for HDFC Bank. All issuer names, product names, and payment-network marks are the property of their respective owners and appear here for identification and comparison only. Card faces shown on this site are our own original illustrations — we do not display or host issuer card artwork or logos.
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Guides and reviews related to this card.
HDFC MoneyBack+ Credit Card
A competent entry-level cashback card — 10X CashPoints on Amazon, Flipkart, Swiggy, Reliance Smart and BigBasket, a ₹500 fee waived at ₹50,000, a 500-CashPoint welcome benefit (worth ₹100), and a ₹500 voucher for each quarter you spend ₹50,000. It was NOT spared 2026's HDFC devaluation — the earn denominator widened from ₹150 to ₹200 on 15 May 2026, and the CashPoint itself was cut to 20 paise on 1 November 2025. The trouble: HDFC's own Millennia covers more platforms and generally pays better (for a ₹1,000 fee against ₹500), and the MoneyBack+'s low CashPoint value caps its return. A fine first HDFC card, rarely the best one.
HDFC Millennia Credit Card
The Millennia solves the Amazon-or-Flipkart dilemma by paying 5% on both — and on Swiggy and Zomato, Myntra and Tata CLiQ — ten brands at once, for a ₹1,000 fee that waives at a trivial ₹1 lakh. It came through 2026's HDFC devaluation untouched. The catch is a ~₹1,000 monthly cap that makes it superb for the moderate online spender and inefficient once your partner spending runs past ~₹20,000 a month.
Swiggy HDFC Bank Credit Card
10% back across the entire Swiggy super-app — food delivery, Instamart, Dineout — for a ₹500 fee, and it came through 2026's HDFC devaluations untouched (with a handy new 5% Cleartrip benefit added). For a regular Swiggy household the fee pays for itself in weeks. The one risk is total app dependence; pair it with a good general card.
HDFC Bank Freedom Credit Card
HDFC's oldest entry card, showing its age in 2026: a token ~0.075% base earn and a single real hook — 10X CashPoints (~0.75%) on exactly five brands, capped at 2,500 CashPoints a month. It only pays if your life clusters on BigBasket, BookMyShow, OYO, Swiggy and Uber; most people are better served by HDFC's own Pixel Go or a flat-cashback card.
IndianOil HDFC Bank Credit Card
A boring, effective, single-purpose fuel card — ~5% back as Fuel Points at IOCL outlets (India's largest pump network), plus 5% on groceries and bills, for a ₹500 fee that waives almost automatically. The keys to full value: redeem Fuel Points as fuel via IXRP (96 paise vs 20 paise elsewhere) and respect the monthly caps. For the IOCL commuter, it's the obvious, low-stakes choice.
Best Credit Cards for Online Shopping in India 2026
Platform-specific cards reach 7.5–10% on Myntra, Flipkart and Swiggy, while SBI Cashback pays a flat 5% across every online merchant. This guide separates the best broad online rate from the best rate available online — they are not the same card — and covers the caps and exclusions that decide which one you should actually hold.
Value timeline
Every real-world change to this card's rewards, fees and benefits we've tracked — newest first, each linked to its source.
Tracking since 2021 · last change May 2026
2026
- ▼ FeeEffective 15 May 2026
Dynamic currency conversion markup raised to 1.75%
1% markup→1.75% markup
HDFC's MITC: "Dynamic currency conversion Markup Fee: With effect from 15th May 2026, a Markup fee of 1.75% will be levied on all transactions carried out in Indian Currency at an international location or at merchants which are located in India but registered overseas." This is separate from, and stacks on top of, the card's ordinary foreign-currency markup. It is the charge you pay for accepting a terminal's offer to bill you in rupees while abroad - always decline that offer and pay in the local currency. It also catches India-based purchases from merchants registered overseas, which is easy to trigger without leaving the country. The PIXEL MITC dates the same change 17 May 2026.
Verification: HDFC Bank ↗ · Confidence: High
- ▼ RewardEffective 15 May 2026
Earn rate cut ~25%: per ₹150 raised to per ₹200
20 CashPoints per ₹150 (10X); 2 per ₹150 (base)→20 CashPoints per ₹200 (10X); 2 per ₹200 (base)
Effective 15 May 2026 HDFC raised the CashPoints earning denominator from ₹150 to ₹200 on both the 10X partner spends and the 2-CashPoint base rate, cutting effective earn by ~25% (at the 20-paise point value in force since 1 Nov 2025, 10X fell from ~2.67% to ~2.00%; base from ~0.27% to ~0.20%). The 2,500-point monthly 10X cap and the five partner brands were unchanged. Some aggregators reported MoneyBack+ was spared, but the issuer's own T&C confirm it was included.
Verification: HDFC Bank ↗ · Confidence: High
2025
- ▼ RewardEffective 1 Nov 2025
CashPoint value cut to 20 paise for statement redemption
1 CashPoint = Rs 0.25→1 CashPoint = Rs 0.20
HDFC MITC: "With effect from 1st November 2025, the value for cashback redemption against the statement balance will be 20 paise per point for Money Back Plus, Biz Grow, Micro Enterprise Card, GIGA cards." A 20% cut to the card's realisable value on its main redemption route, taking the 10X rate from ~3.33% to ~2.67% and the base from ~0.33% to ~0.27% — both still on the ₹150 denominator in force on this date, which HDFC widened to ₹200 six months later. HDFC's own card T&C (published 15 May 2026) still prints "1 CashPoint = Upto Rs 0.25" - the "Upto" accommodates 20p, and the MITC is both newer and the regulatory document, so it governs. We carry 20p and disclose the conflict rather than picking a side silently.
Verification: HDFC Bank ↗ · Confidence: High
- ▼ FeeEffective 1 Jul 2025
1% fee added on rent, wallet loads and online gaming
No category surcharge on rent, wallet loads or gaming→1% on rent (cap Rs 4,999 per transaction); 1% on wallet loads and on online skill-based gaming above Rs 10,000 a calendar month (cap Rs 4,999 a month)
HDFC's MITC: "Rent Pay Transactions: W.e.f. 1st July 2025, 1% fee on transaction amount will be levied on rental transactions... Fee capped at Rs 4999 per transaction"; "Wallet Loading (excl PayZapp) - W.e.f. 1st July 2025, 1% fee will be levied on Wallet loading spends exceeding Rs 10,000 in a calendar month"; "Online Skill based Gaming - W.e.f. 1st July 2025, 1% fee... exceeding Rs 10,000 in a calendar month". These are charges on top of the fact that most HDFC cards already earn zero reward points on the same categories - you pay to spend, and earn nothing for it. PayZapp wallet loads are exempt from the wallet fee.
Verification: HDFC Bank ↗ · Confidence: High
- ▼ FeeEffective 1 Jul 2025
1% fee on utilities above Rs 50,000 and on third-party education payments
No surcharge on utility or education payments→1% on utility spends above Rs 50,000 a calendar month (cap Rs 4,999 a month); 1% on education paid through third-party apps
HDFC's MITC: "Utility Charges: 1% fee will be levied on utility spends exceeding Rs 50,000 per Calendar month for consumer cards... Fee capped at Rs 4999 per month"; "Education Charges: 1% fee... on Education transactions done through third party applications like (but not limited to) CRED, Nobroker, Cheq etc." Paying school or college fees DIRECTLY to the institution is not charged - only routing them through a third-party app is. A 1% fee also applies to fuel transactions above Rs 15,000.
Verification: HDFC Bank ↗ · Confidence: High
Each change links to the issuer's own document — bank T&C, MITC, notice, press release or product page — where one is public. Where the bank published nothing, it's marked CardAdvisor Research and verified against the card's current terms. Independent of the live terms shown above. This timeline is one card's slice of our market-wide change record across every tracked card.
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Source: <a href="https://cardadvisor.in/cards/hdfc-moneyback-plus#value-timeline">HDFC MoneyBack+ Credit Card value timeline</a>, CardAdvisor (CC BY 4.0).
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