HDFC Bank Millennia Credit Card
A cashback credit card by HDFC Bank, the Millennia Credit Card targets the Gen-Y – the ‘90s kids or the millennials. Being a basic credit card, this is charged an annual fee of Rs. 1,000. Keeping its target customers in mind, HDFC Bank offers a 5% cashback on Amazon, BookMyShow, Cult.fit, Flipkart, Myntra, Sony LIV, Swiggy, Tata CLiQ, Uber, and Zomato, and a cashback of 1% on all other online and offline spends.
As the card gives you a reward rate of 5% on Amazon and Flipkart, you are essentially getting the benefit of both Amazon Pay ICICI and Flipkart Axis Credit Card (and much more) in one card. The cashback earned with the card is processed as CashPoints, which can be redeemed against the card’s statement balance for flight/hotel reservations or for purchasing products from the HDFC product catalog. Also, the card offers great gift vouchers for meeting the milestone spend every quarter.
In addition to receiving cashback, you will also be granted free access to lounges at domestic airports in India. However, due to recent devaluation, you will now need to spend Rs. 1 lakh each quarter in order to access these lounges. Keep reading our HDFC Bank Millennia Credit Card review to know more about the card, its offerings, fees and charges, and other information.
Rewards and Benefits
Movie & Dining
Up to 20% discount at partner restaurants with complimentary Swiggy Dineout
Rewards Rate
5% cashback (as CashPoints) at select partner online merchants and 1% cashback (as CashPoints) on all other spends (except fuel, rental, and govt. related transactions)
Reward Redemption
Rewards processed as CashPoints, 1 CP = Re. 1 while redeeming against statement balance of credit card and 1 CP = Rs. 0.30 while redeeming against products and vouchers in the product catalogue, and against flight/hotel booking.
Travel
4 complimentary airport lounge access every year, 1 per quarter
Golf
N/A
Domestic Lounge Access
1 Domestic Airport Lounge Access Every Quarter (4 Each Year)
International Lounge Access
N/A
Insurance Benefits
N/A
Zero Liability Protection
Zero liability of the credit cardholder in case of fraudulent transactions after you have reported about the loss or theft of the card to the bank.
Fees & Charges
Spend Based Waiver
The renewal fee is waived off if the cardholder spends Rs. 1 Lakh or more in the previous year.
Rewards Redemption Fee
Rs. 99 per redemption request (plus applicable taxes)
Foreign Currency Markup
3.5% (plus applicable taxes)
Interest Rates
3.6% per month (or 43.2% per annum)
Fuel Surcharge
1% Fuel surcharge which is waived if you spend minimum Rs 400 in single transaction. The maximum CashBack is capped at Rs. 250 per payment cycle.
Cash Advance Charges
2.5% of the transaction amount, subject to a minimum fee of Rs. 500
Add-on Card Fee
Nil
Pros/Cons
Pros
Get high 5% cashback on partner merchants like Myntra, Amazon, Zomato, Swiggy, Uber, etc.
Get access to 4 complimentary domestic airport lounges with the card
Renewal fee waiver on spending Rs. 1 Lakh in the card anniversary year
Cons
You earn a low 1% cashback on offline/online spends at non-partner merchants
The accelerated Cashpoints are capped at 1000 per statement cycle and you can earn 1000 Cashpoints at the normal 1x rate.
Minimum 500 Cashpoints are needed to redeem against the card statement balance
HDFC Millennia Credit Card is the most popular and perhaps one of the best cashback credit cards present currently in the market of credit cards in India. What makes this card so popular is not only its high reward rate (up to 5% cashback as CashPoints on shopping at popular merchants like Amazon, Flipkart, Myntra, etc.) but also the high rate of redemption of Cash Points as cashback, i.e., adjustment against the statement balance of credit card- 1 CashPoint = Re. 1 on adjustment against the card’s outstanding balance.
Another point that makes this credit card the most popular cashback credit card is that the monthly max capping on the cashback that can be earned on the HDFC Millennia card is higher than most other cashback cards- 2,000 CashPoints per month (1,000 CashPoints at accelerated rate and 1,000 CashPoints at normal rate).
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