In-depth review
Shoppers Stop HDFC Bank Credit Card
A ₹299 store companion card that pays for itself on day one — the welcome kit alone is a ₹500 voucher plus a ₹350 Silver Edge membership. 3% at Shoppers Stop with points worth a full ₹1 against store vouchers, and it links to UPI. Outside that, it is weak: points fall to ₹0.20, eight categories earn nothing, and there is no fee waiver.
Read the full review →Key features
What this card is built to do — the highlights that actually matter.
Welcome Benefit
~₹850 in vouchers, points or cashback in year one — usually conditional on a first spend within 30–90 days
3 points/₹100 on Online Shopping (~3% value)
3% Reward Points on Shoppers Stop spends in-store and online (min ₹150/txn), capped 500 RP/month
1% on Other
1% Reward Points on non–Shoppers Stop spends (min ₹150/txn), capped 1,000 RP/month; 1 RP = ₹1 only against Shoppers Stop vouchers, ₹0.20–0.25 elsewhere
Milestone Bonus
~₹1,500 in bonus rewards on hitting annual spend milestones
UPI Linked
Pay UPI QR codes from your credit line. What UPI payments earn can depend on the app you pay through, so check the rewards details.
Regular Shoppers Stop shoppers who will redeem points against Shoppers Stop vouchers at ₹1 each and want a low-fee RuPay card that also earns on UPI scan-and-pay.
Full reward structure
What you earn on every rupee, per spend category — as of 11 Oct 2026. Rates assume 1 pt = ₹1.00. How we value points →
| Category | Type | Rate | Monthly cap |
|---|---|---|---|
| Online Shoppingonly at Shoppers Stop stores and shoppersstop.com (identified by Shoppers Stop terminal/merchant IDs) | reward points | 3%3 pts/₹100 × ₹1.00 | ₹500 |
| Other | reward points | 1%1 pts/₹100 × ₹1.00 | ₹1,000 |
Online Shopping: 3% Reward Points on Shoppers Stop spends in-store and online (min ₹150/txn), capped 500 RP/month · Shoppers Stop stores and shoppersstop.com (identified by Shoppers Stop terminal/merchant IDs)
Other: 1% Reward Points on non–Shoppers Stop spends (min ₹150/txn), capped 1,000 RP/month; 1 RP = ₹1 only against Shoppers Stop vouchers, ₹0.20–0.25 elsewhere
Earns nothing on: Fuel · Rent · Groceries · Wallet Loads · Government & Tax · EMI Conversions · Insurance · Tax · Jewellery · Liquor stores · Bakeries · Cash Advances
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 11 Oct 2026.
| Charge | Amount |
|---|---|
| Annual fee (incl. 18% GST) | ₹353 |
| Joining fee (incl. 18% GST) | ₹353 |
| Finance charge (APR) | 3.75% p.m. |
| Forex markup | 3.5% |
Perks & benefits
Estimated annual value beyond rewards — ~₹2,000/yr in total.
1% fuel surcharge waiver (₹400–₹5,000 per txn), capped ₹250/statement cycle; fuel spends earn no Reward Points
Weekend offer — ₹500 in Reward Points for a single Shoppers Stop purchase of ₹15,000+ on Fri–Sun; max once a month and 5 times a year (up to ₹2,500/year)
Should you get it?
- Best for: Regular Shoppers Stop shoppers who redeem points as Shoppers Stop vouchers, First-time cardholders wanting a low-fee RuPay UPI card with a store tie-in
- Entry tier — great for first-time and lower-spend users.
- Strongest value if you spend heavily on everyday spends (1% back; 3% only at Shoppers Stop stores and shoppersstop.com (identified by Shoppers Stop terminal/merchant IDs)).
Pros & cons
✓ Pros
- 3% Reward Points at Shoppers Stop with 1 RP = ₹1 against Shoppers Stop vouchers
- ₹850 welcome kit — a ₹500 voucher plus a ₹350 Silver Edge membership — against a ₹299 fee
- Weekend offer adds up to ₹2,500/year in points on big Shoppers Stop bills
- RuPay card links to UPI for scan-and-pay and still earns 1%
✕ Cons
- Points are worth only ₹0.20–0.25 outside Shoppers Stop voucher redemption
- Supermarkets, fuel, rent, wallet loads, government, EMI, insurance and jewellery earn nothing
- Earning is capped at 500 RP/month at Shoppers Stop and 1,000 RP/month elsewhere
- No published spend-based waiver for the ₹299 annual fee
- ₹50 fee on cashback redemption and ₹99 + taxes on catalogue redemption
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
- 📄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.
- 🎁Shoppers Stop vouchers at 1 RP = ₹1 (best value; points valid 2 years)
- 🎁Statement credit at 1 RP = ₹0.20 (min 500 RP, ₹50 redemption fee)
- 🎁Product catalogue at up to ₹0.25/RP (₹99 + taxes handling fee) or airmiles at ₹0.25
- 🎁SmartBuy flights/hotels at ₹0.20/RP, up to 50% of booking value
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
Reward Points are worth ₹1 only against Shoppers Stop vouchers — redeem any other way and the value falls to ₹0.20–0.25 — and HDFC publishes no spend-based waiver for the ₹299 annual fee.
Frequently asked questions
What is the reward point ratio on the Shoppers Stop card?
What is one Reward Point worth?
Is the ₹299 annual fee waived on spends?
Can I link the card to UPI?
What is the weekend offer?
How has the Shoppers Stop HDFC Bank Credit Card changed over time?
Has the Shoppers Stop HDFC Bank Credit Card been devalued recently?
When did the Shoppers Stop HDFC Bank Credit Card's fees last change?
How did the Shoppers Stop HDFC Bank Credit Card change in 2025?
The bottom line
Judged as a Shoppers Stop loyalty card, the maths is easy — the ₹500 welcome voucher plus ₹350 Silver Edge membership more than covers the ₹299 fee in year one, and 3% back at ₹1 a point is a genuine 3% for anyone who shops there even a few times a year. Judged as an everyday card it is weak — points drop to ₹0.20 outside Shoppers Stop vouchers, supermarkets and fuel earn nothing, and there is no published fee waiver. Take it as a store companion card, not a primary card.
How this page was built
Counted from this card’s own record: 2 earn rules, 2 of them capped, 1 paid only at named merchants, the spends listed as earning nothing and 2 recorded perks.
Last updated 11 Oct 2026.
Sources & verification
Fees, reward rates, and benefits for the Shoppers Stop HDFC Bank 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 11 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.
Shoppers Stop HDFC Bank Credit Card
A ₹299 store companion card that pays for itself on day one — the welcome kit alone is a ₹500 voucher plus a ₹350 Silver Edge membership. 3% at Shoppers Stop with points worth a full ₹1 against store vouchers, and it links to UPI. Outside that, it is weak: points fall to ₹0.20, eight categories earn nothing, and there is no fee waiver.
Shoppers Stop Black HDFC Bank Credit Card
The ₹4,500 premium tier: 7% at Shoppers Stop with points worth a full ₹1 against store vouchers, 16 domestic and 8 international lounge visits a year, and a welcome kit that covers the fee in year one. The catch is year two — there is no spend-based waiver at all, so the card has to return ₹4,500 on its own every year after.
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 2022 · 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
2025
- ▼ 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
- ▼ RewardEffective 1 Jul 2025
Insurance reward points capped, online gaming stops earning
Insurance uncapped on most cards; online skill-based gaming earned points→Insurance capped at 2,000 reward points a month (5,000 on Diners Black, 10,000 on Infinia); online skill-based gaming earns nothing
HDFC's MITC: "With effect from 1st July 2025, Reward Points accrued for insurance transactions will have a maximum cap of... 2000 per month for all other credit cards" and "With effect from 1st July 2025, Online Skill-Based gaming transactions will not earn Reward Points/CashPoints on all the cards." Insurance premiums are a common way to hit a milestone quickly, so the cap matters more than its size suggests.
Verification: HDFC Bank ↗ · Confidence: High
2024
- ▼ FeeEffective 1 Aug 2024
Bank-wide HDFC fee revision: ₹50 redemption fee + 1% utility fee
No reward-redemption fee; no utility surcharge→₹50 per statement-credit redemption; 1% on utility spends over ₹50,000
As part of a portfolio-wide HDFC repricing effective 1 August 2024, statement-credit / cashback reward redemptions began attracting a ₹50 fee, and a 1% fee was applied to utility transactions above ₹50,000. The change hit all HDFC reward-earning cards including co-brands; on this card the ₹50 fee applies when Reward Points are redeemed as cashback rather than as Shoppers Stop vouchers. ⚠ The utility cap has since moved: this event originally recorded "capped ₹3,000 per billing cycle", and HDFC's current MITC (updated 21 July 2026) states "Fee capped at Rs 4999 per month" on utility spends "exceeding Rs 50,000 per Calendar month". The ₹3,000 figure is the 2024 state and the ₹4,999 one is current; the phrasing also shifted from billing cycle to calendar month.
Verification: CardAdvisor Research · 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-shoppers-stop#value-timeline">Shoppers Stop HDFC Bank Credit Card value timeline</a>, CardAdvisor (CC BY 4.0).
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