HDFC MoneyBack Plus vs HDFC Regalia First Credit Card

HDFC Bank is renowned for its diverse range of credit cards catering to various preferences in the market. These cards span from basic to super-premium, offering a comprehensive selection for potential users. Among these, the HDFC Regalia First Credit Card and the HDFC MoneyBack Plus Credit Card stand out as basic options, each with its distinct set of advantages.

For individuals seeking basic credit cards with cost-effective benefits, these two options, namely the HDFC Regalia First and the HDFC MoneyBack Plus, are worth considering. Despite their common classification, the cards differ significantly in terms of perks.

Although the HDFC Regalia First Credit Card carries a higher annual fee compared to the MoneyBack Plus Credit Card, it compensates with enticing travel benefits. This includes complimentary lounge access, a feature absent in the MoneyBack Plus Card.

Conversely, the MoneyBack Plus Credit Card boasts a superior reward rate compared to the Regalia First Card. Thus, despite the elevated fee, the Regalia First Credit Card emerges as a superior choice for frequent travelers seeking elevated travel experiences.

In contrast, the MoneyBack Plus Credit Card proves advantageous for individuals with minimal travel requirements who prioritize maximizing savings on everyday expenses. It’s crucial to delve into the intricacies of each card’s features rather than making a hasty decision solely based on the annual fee.

Ultimately, the decision between the HDFC Regalia First and MoneyBack Plus Credit Cards hinges on individual preferences, usage patterns, and priorities. Consideration of factors beyond the annual fee, such as travel frequency and spending habits, will enable a more informed and tailored choice.

Features and Benefits of HDFC MoneyBack Plus and HDFC Regalia First Credit Card

HDFC MoneyBack Plus Credit Card:

1. Welcome and Renewal Bonus:
   • Receive 500 bonus Cash Points as a welcome and renewal gift.
2. Reward Points:
   • Earn 2 Cash Points on every spend of Rs. 150.
   • Get five times the Cash Points when you make EMI transactions at specific merchant outlets.
   • 10x Cash Points on partner brands like Flipkart, Amazon, Big Basket, Swiggy, and Reliance Smart Superstore.
3. Gift Vouchers:
   • Get a Rs. 500 gift voucher every three months when you spend over Rs. 50,000 within that quarter.
4. Dining Privileges:
   • Enjoy a 15% discount on dining at over 2,000 restaurants.
5. Fee Waiver:
   • If you spend over Rs. 50,000 in the previous year, you won’t have to pay the Rs. 500 annual fee.
6. Fuel Surcharge Waiver:
   • Receive a 1% fuel surcharge waiver on all fuel transactions.

HDFC Regalia First Credit Card:

1. Joining Fee and Bonus:
   • Joining fee of Rs. 1,000 with a welcome and renewal benefit of 1,000 bonus reward points.
2. Reward Points:
   • Earn 4 reward points on every Rs. 150 spent.
   • Get a cashback of up to 5% on SmartBuy spends.
   • 5,000 bonus Reward Points on spending Rs. 3 lakhs in a year.
   • Additional 2,500 bonus Reward Points on spending more than Rs. 6 lakhs in a year.
3. Airport Lounge Access:
   • Complimentary Priority Pass membership with 3 international airport lounge access every year.
   • You receive eight free entries to domestic airport lounges annually, with a limit of two visits per quarter.
   • 2 complimentary domestic lounge access every quarter.
4. Insurance Coverage:
   • Insurance cover worth Rs. 50 lakhs against accidental air death.
   • Credit liability cover worth Rs. 5 lakhs.
5. Fee Waiver:
   • Annual fee of Rs. 1,000 waived off if you spend more than Rs. 1 lakh in the previous year.
6. Fuel Surcharge Waiver:
   • Enjoy a 1% discount on fuel surcharges for all fuel transactions ranging from Rs. 400 to Rs. 5,000.
7. Foreign Currency Markup:
   • Enjoy the advantage of a mere 2% foreign currency markup fee.

Comparison between HDFC MoneyBack Plus and HDFC Regalia First Credit Card

HDFC MoneyBack Plus Credit Card:

• Annual Fee: Rs. 500
• Welcome Benefits: 500 Cash Points
• Rewards Rate:
  • 2 Cash Points for every spend of Rs. 150
  • 5x Cash Points on all EMI transactions
  • 10x Cash Points with partnered brands (Amazon, Big Basket, Flipkart, etc.)
• Reward Redemption:
  • 1 Cash Point = Re. 0.25 for flight & hotel bookings, product catalogue, and statement cash
• Additional Benefits:
  • Gift vouchers worth up to Rs. 2,000 upon achieving spending milestone
  • Annual fee waived on spending over Rs. 50,000 in a year

HDFC Regalia First Credit Card:

• Annual Fee: Rs. 1,000 Welcome
• Welcome Benefits: 1,000 Reward Points
• Rewards Rate:
  • 4 Reward Points for every Rs. 150 spent
• Reward Redemption:
  • 1 Reward Point = Rs 0.3 for flights and hotel bookings
  • 1 Reward Point = Rs 0.25 for products and vouchers
  • 1 Reward Point = Rs 0.15 for adjustment against the card’s statement balance
• Additional Benefits:
  • Annual fee waiver upon spending over Rs. 1 Lakh in the previous year
  • Up to 7,500 bonus reward points on spending more than Re. 6 lakhs in a year
  • You receive eight free entries to domestic airport lounges and three to international lounges annually, with no repeats allowed.

Which credit card suits you best?

1. Assess your spending behavior to determine the categories in which you incur the most expenses.
2. Examine and compare the features, benefits, fees, and charges of credit cards that align with your daily requirements.
3. Don’t solely consider the annual fee when comparing credit cards; explore other factors for a comprehensive evaluation.
4. Lower joining fees on certain credit cards may be more advantageous in some cases, while higher fees might be justified in others.
5. Opt for the HDFC Regalia First Credit Card if you frequently travel by flight or engage in international transactions. It offers complimentary airport lounge access and a lower forex markup fee.
6. Choose the MoneyBack Plus Credit Card if travel isn’t a significant factor for you, but you aim to save more on shopping.

Frequently Asked Questions (FAQs)

Q1: What factors should I consider when deciding between HDFC MoneyBack Plus and HDFC Regalia First Credit Card?

A1: Consider your spending habits, travel frequency, and preferred benefits. HDFC MoneyBack Plus is ideal for those focused on earning cashback, while HDFC Regalia First suits frequent travelers with its travel-related perks.

Q2: Are there significant differences in the annual fees of these two credit cards?

A2: Yes, there are differences. HDFC MoneyBack Plus typically has a lower annual fee compared to HDFC Regalia First. However, it’s essential to weigh this against the benefits offered by each card.

Q3: Which card is more suitable for international transactions?

A3: If you frequently travel internationally or make foreign transactions, HDFC Regalia First may be a better choice due to its lower forex markup fee and complimentary airport lounge access.

Q4: Does the MoneyBack Plus Credit Card offer any travel-related perks?

A4: While HDFC MoneyBack Plus is not primarily designed for travel benefits, it focuses on cashback rewards. If travel perks are essential, HDFC Regalia First is better suited with its complimentary lounge access and travel-related features.

Q5: Can you elaborate on the cashback rewards program of HDFC MoneyBack Plus?

A5: HDFC MoneyBack Plus provides cashback on eligible transactions, contributing to savings. The cashback feature is a key highlight, making it an attractive option for those who prioritize savings on everyday expenses.

Q6: How do the joining fees compare between these two credit cards?

A6: Generally, HDFC MoneyBack Plus tends to have a lower joining fee compared to HDFC Regalia First. However, the decision should also consider the overall benefits and rewards associated with each card.

Q7: Is one of these cards more suitable for individuals who do not frequently travel?

A7: Yes, HDFC MoneyBack Plus is more suitable for individuals who don’t travel often but want to save on their everyday expenses, especially through cashback rewards.

Q8: Are there any specific eligibility criteria for these credit cards?

A8: Eligibility criteria may vary, but typically, applicants need to meet income requirements and credit score benchmarks set by HDFC Bank. Refer to the bank’s official website or contact customer service for precise eligibility details.

Q9: How do I apply for either HDFC MoneyBack Plus or HDFC Regalia First Credit Card?

A9: You can apply online through the HDFC Bank website or visit a branch for assistance. Ensure you meet the eligibility criteria and have the required documentation for a smooth application process.

Q10: Can I upgrade or downgrade from one card to another later on if my needs change?

A10: HDFC Bank may offer the option to upgrade or downgrade your credit card based on your eligibility and requirements. Contact the bank’s customer service for specific details and assistance with any changes to your card.