HDFC Millennia Credit Card vs HDFC EasyEMI Credit CardHDFC Millennia Credit Card vs HDFC EasyEMI Credit Card

HDFC Millennia vs HDFC EasyEMI Credit Card

The HDFC Millennia Credit Card is a top choice among entry to mid-level shoppers, ideal for young professionals and credit novices, commonly known as millennials. This card provides a wide range of perks tailored to their needs. On the other hand, the EasyEMI Credit Card is designed for young professionals with modest incomes, allowing purchases over Rs. 10,000 to be automatically converted into EMIs, focusing on making purchases more affordable.

The Millennia and EasyEMI credit cards share several features, such as a 5% cashback at select partner brands (Millennia offers a broader range). Both provide 1% cashback on offline transactions. Initially more alike, Millennia underwent changes, enhancing cashback to 5% at a broader partner network with a higher cap (Rs. 1,000), while reducing online spend cashback to 1% at non-partner merchants.

Advantages and Characteristics of HDFC Millennia Credit Card and HDFC EasyEMI Credit Card

HDFC Millennia Credit Card:

  1. HDFC Millennia Credit Card offers CashPoints as cashback, credited monthly.
  2. Redeem CashPoints for statement balance, flights/hotels (via SmartBuy), or products/vouchers.
  3. Transfer CashPoints to partner airlines’ frequent flyer programs.
  4. Welcome benefit: 1,000 CashPoints on joining after fee realization.
  5. 5% cashback at select brands; 1,000 CashPoints limit per cycle.
  6. 1% cashback on other transactions (excluding fuel); 1,000 CashPoints limit per cycle.
  7. CashPoints’ monetary values vary based on redemption category.
  8. The CashPoints have a validity period of two years, and any unused ones will expire after this duration.

HDFC EasyEMI Credit Card:

1. EasyEMI Card Overview:

  • Entry-level credit card with Rs. 500 annual fee (plus GST).
  • Unique feature: Purchases above Rs. 10,000 automatically converted into EMIs.

2. Cashback Features:

  • Cashback processed as CashPoints.
  • Redemption options: Cashback (Rs. 1), Product Catalog (Rs. 0.30), Flights/Hotel Bookings via SmartBuy (Rs. 0.30).

3. Cashback Rates and Caps:

  • 5% cashback on Amazon, Flipkart, and SmartBuy flight/hotel bookings (min. transaction Rs. 2,000).
  • Max 750 CashPoints at 5% rate per month (first 6 months: max 1,000 CashPoints per month).

4. Welcome Benefit:

  • Receive 500 CashPoints upon enrollment, contingent upon the realization of the joining fee.

5. Additional Cashback Details:

  • 2.5% cashback on other online spends (except wallet uploads) at non-partner merchants.
  • Max Rs. 750 cashback per month, min. transaction Rs. 2,000.

6. Wallet and Offline Transactions:

  • 1% cashback on wallet reloads and offline transactions.
  • Max Rs. 750 cashback per month, min. transaction Rs. 100.

Comparison between HDFC Millennia Credit Card and HDFC EasyEMI Credit Card

HDFC Millennia Credit Card:

1. Reward Rate:

  • 5% cashback on Amazon, Flipkart, Myntra, BookMyShow, Cult.fit, Sony LIV, Swiggy, Tata CLiQ, Uber, and Zomato.
  • 1% cashback on other online/offline spends.
  • Max 2,000 CashPoints per statement cycle.
  • 5% cashback on Amazon, Flipkart, flight bookings, and hotel reservations.
  • 2.5% cashback on other online spends.
  • 1% cashback on wallet reloads and offline transactions.
  • Min. transaction Rs. 2,000 for 5% and 2.5%, Rs. 100 for 1%.

2. Reward Redemption:

  • 1 CashPoint = Re. 1 (cashback).
  • 1 CashPoint = Rs. 0.30 (product catalog, SmartBuy).
  • 1 CashPoint = Rs. 0.30 (flight/hotel bookings via SmartBuy).
  • 1 CashPoint = Rs. 0.30 (AirMiles) [Not allowed for redemption].

3. Welcome/Renewal Benefits:

  • 1,000 CashPoints on joining fee payment.
  • 500 CashPoints as Welcome Benefit on joining fee realization.

4. Milestone Benefits:

  • Rs. 1,000 gift voucher on Rs. 1,00,000 spends in a quarter.
  • Receive a Rs. 1,000 gift voucher when you spend Rs. 1,00,000 quarterly, but this offer is applicable only for the first year.

5. Additional Benefits:

  • 2 domestic airport lounge accesses per quarter.
  • 20% discount at partner restaurants with Dineout Passport.

6. Special Feature: No specific special features mentioned.

7. Membership Fee: Rs. 1,000 per annum (waived off on Rs. 1 lakh annual spends).

8. Eligibility:

  • Min. monthly income: Rs. 35,000 (salaried), Rs. 6 lacs p.a. (self-employed).
  • Age: 21-60 years (salaried), 21-65 years (self-employed).

HDFC EasyEMI Credit Card:

1. Reward Rate:

  • 5% cashback on Amazon, Flipkart, flight bookings, and hotel reservations.
  • 2.5% cashback on other online spends.
  • 1% cashback on wallet reloads and offline transactions.
  • Min. transaction Rs. 2,000 for 5% and 2.5%, Rs. 100 for 1%.

2. Reward Redemption:

  • 1 CashPoint = Re. 1 (cashback).
  • 1 CashPoint = Rs. 0.30 (product catalog, SmartBuy).
  • 1 CashPoint = Rs. 0.30 (flight/hotel bookings via SmartBuy).
  • 1 CashPoint = Rs. 0.30 (AirMiles) [Not allowed for redemption].

3. Welcome/Renewal Benefits:

  • Rs. 500 per annum (waived off on Rs. 50,000 first-year spends).
  • You won’t have to pay a joining fee if you spend Rs. 20,000 within the initial 90 days.

4. Additional Benefits: No specific additional benefits mentioned.

5. Special Feature: All transactions above Rs. 10,000 automatically converted into EMIs (processing fee of Rs. 99, ROI 1.67% per month).

6. Membership Fee: Rs. 500 per annum.

7. Eligibility:

  • Min. monthly income: Rs. 10,000 (salaried), Rs. 6 lacs p.a. (self-employed).
  • Age: 21-60 years (salaried), 21-65 years (self-employed).

Which credit card suits you best?

HDFC Millennia Credit Card:

  • Ideal for young professionals and first-time cardholders.
  • Offers decent cashback rates and perks like airport lounge access and Dineout Passport membership.
  • Higher membership fee of Rs. 1,000 per annum.
  • Requires a monthly income of Rs. 35,000.

HDFC EasyEMI Credit Card:

  • No additional benefits but unique automatic conversion of purchases into EMIs.
  • Lower membership fee of Rs. 500 per annum.
  • Lower eligibility criteria with a monthly income requirement of Rs. 10,000.

Frequently Asked Questions (FAQs)

Q: What sets apart HDFC Millennia from HDFC EasyEMI Credit Cards?

A: HDFC Millennia card emphasizes cashback rewards, lounge access, and Dineout Passport benefits, whereas HDFC EasyEMI primarily focuses on seamlessly converting purchases into EMIs.

Q: How do the membership fees differ between HDFC Millennia and EasyEMI Credit Cards?

A: HDFC Millennia card carries a higher annual fee of Rs. 1,000, whereas HDFC EasyEMI has a lower fee of Rs. 500 per annum.

Q: What are the income criteria for HDFC Millennia and EasyEMI Credit Cards?

A: To qualify for Millennia, you need a minimum monthly income of Rs. 35,000, while EasyEMI requires a lower monthly income of Rs. 10,000.

Q: Are there any extra perks with HDFC EasyEMI Credit Card?

A: While EasyEMI doesn’t offer additional benefits, it automatically converts purchases into EMIs.

Q: Which card suits those who prefer paying in installments?

A: HDFC EasyEMI Credit Card is tailored for individuals who prefer making purchases in installments.

Q: Is HDFC Millennia Credit Card better for higher-income earners?

A: Yes, Millennia is more suited for higher-income individuals, offering extra perks and rewards.

Q: Are there similar HDFC credit cards for comparable applicants?

A: Yes, HDFC Freedom Credit Card and HDFC MoneyBack+ Credit Card are alternatives for similar applicants.

Q: What factors should one consider when choosing between these two cards?

A: When deciding between Millennia and EasyEMI, consider income level, spending habits, and preference for additional benefits.

Q: Is there a noticeable difference in reward rates between HDFC Millennia and EasyEMI Credit Cards?

A: Millennia provides cashback, making it more rewarding compared to EasyEMI, which focuses primarily on EMI features.

Q: Can EasyEMI Credit Card be suitable for individuals with lower incomes?

A: Yes, EasyEMI is a viable choice for those with lower incomes, offering the flexibility to make significant purchases and repay in installments.

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