HDFC Bank Purchase Premium Credit Card

The HDFC Bank Purchase Premium Credit Card stands out as a noteworthy Corporate Credit Card within HDFC’s extensive range. As the leading issuer of credit cards in the country, HDFC Bank offers a comprehensive set of benefits and features with this particular credit card, streamlining and enhancing transaction processes for companies.

In the realm of corporate finance, commercial credit cards emerge as indispensable tools. Even within large corporations, executives often rely on specific credit cards, while for small businesses, these financial instruments play a crucial role. Small businesses leverage credit cards for covering daily expenses and even expanding their workforce. It’s important to note a key distinction between Business and Corporate Credit Cards: the former is accessible to smaller enterprises, whereas the latter is exclusive to larger corporations.

Key Highlights of HDFC Bank Purchase Premium Credit Card

  1. Earn a 5% cashback on your monthly expenditures.
  2. Receive 4 reward points for every Rs. 150 spent.
  3. Redeem your rewards at a rate of 1 reward point (RP) for 0.20 paisa.
  4. Experience a 5% forex markup fee on foreign transactions.
  5. Enjoy a 1% fuel surcharge waiver, up to Rs. 500.
  6. Benefit from a generous 50-day credit period on the card.

Features and Benefits of HDFC Bank Purchase Premium Credit Card

The HDFC Bank Purchase Premium Credit Card offers several features and benefits:

1. Cashback:

  • 5% Cashback
  • Earn up to Rs. 1500 per statement cycle.
  • Requires a minimum monthly spend of Rs. 50,000.

2. Reward Points:

  • Reward Points
  • Earn 4 reward points for every INR 150 spent.

3. Fuel Benefits:

  • Fuel Surcharge Waiver
  • Enjoy a 1% fuel surcharge waiver, up to INR 500.

4. Foreign Currency:

  • FCY Mark Up
  • 2.5% on all foreign currency spends.

5. Payment Flexibility:

  • Revolve Facility
  • Pay a minimum of 30% on the billed amount.

6. Additional Savings:

  • Upto 50 Days Credit Period
  • Avail up to 50 days of credit on the Purchase Premium Credit Card.

7. Streamlined Purchase Process:

  • Convenient Paperless Process
  • Enhance manpower productivity with a paperless and streamlined purchase process.

8. Expense Management:

  • Better Control on Expenses
  • Place restrictions on cards based on transactions and vendor/merchant categories for improved control.
  • Gain better control through expense pattern reports.

9. Process Efficiency:

  • Centralized Expense Management
  • Centrally manage all direct company expenses using the Purchase Premium Card.
  • Reduce transaction processing time and overall costs for high-volume/low-value transactions.

10. Invoice Management:

  • Relief from Multiple Invoice Handling
  • Alleviate the burden of managing multiple invoices, cheque handling, and payment systems.

HDFC Bank Purchase Premium Credit Card Fees and Charges

Explore the fee structure for the HDFC Bank Purchase Premium Credit Card and discover the financial advantages that come with it.

1. Membership Costs:

2. Reward Program:

  • Reward Redemption Fee: Not Applicable (N/A)

3. International Transactions:

  • Foreign Currency Markup Fee: 2.5% of the transaction value

4. Interest Rates:

  • Monthly Interest Rate: 1.99%
  • Annual Interest Rate: 23.88%

5. Cash Advances:

  • Cash Advance Fee: 1% of the transacted amount

6. Additional Cards:

  • Add-on Card Fee: Not Applicable (N/A)

Eligibility Criteria for HDFC Bank Purchase Premium Credit Card

Here are essential criteria for applying for an HDFC Bank Purchase Premium Credit Card:

  1. Age Requirement: Applicants must fall within the age range of 21 to 65 years.
  2. Income Stability: The applicant is required to possess a consistent income, preferably generated through a registered business.

Documents Required for HDFC Bank Purchase Premium Credit Card

To apply for the HDFC Bank Purchase Premium Credit Card, you will typically need to provide the following documents:

1. Identity Proof:

  • Aadhaar Card
  • PAN Card
  • Driving License
  • Voters ID
  • Passport

2. Address Proof:

  • Aadhaar Card
  • Utility bills from the latest months

3. Additional Documents for Business:

  • Business Registration Certificate
  • Latest Audited Income Tax Return (ITR)
  • Passport-sized Photographs

How To Apply for HDFC Bank Purchase Premium Credit Card?

Follow these steps to apply for the HDFC Bank Purchase Premium Credit Card:

  1. Go to the HDFC Bank’s official website.
  2. Navigate to the “borrow” section.
  3. Choose “cards” and proceed to the “credit cards” section.
  4. Within Business Credit Cards, opt for the HDFC Purchase Premium Credit Card.
  5. Click on “Apply Now” to access the digital application form.
  6. Complete the necessary information in the form.
  7. Follow the subsequent steps as directed.

Frequently Asked Questions (FAQs) –

1. What is the HDFC Bank Purchase Premium Credit Card?

The HDFC Bank Purchase Premium Credit Card is a credit card offering tailored benefits for business-related expenses.

2. How can I apply for the HDFC Purchase Premium Credit Card?

Visit the HDFC Bank official website, navigate to the “borrow” section, select “cards,” then choose “credit cards.” Under Business Credit Cards, select the HDFC Purchase Premium Credit Card and click on “Apply Now” to fill out the digital application form.

3. What are the key features of the HDFC Purchase Premium Credit Card?

The card offers exclusive benefits such as accelerated rewards on business expenses, travel benefits, and customized privileges for business users.

4. What are the eligibility criteria for this credit card?

Eligibility criteria typically include a minimum age, income requirement, and a good credit score. Specific details can be found on the HDFC Bank website or by contacting the bank directly.

5. What rewards and benefits does the HDFC Purchase Premium Credit Card offer?

Rewards may include accelerated points on business spends, travel benefits, fuel surcharge waivers, and exclusive discounts with partner merchants. Refer to the card’s terms and conditions for detailed information.

6. How can I check the status of my HDFC Bank Purchase Premium Credit Card application?

You can check the status of your application online through the HDFC Bank website or by contacting the customer service helpline.

7. What is the annual fee for the HDFC Purchase Premium Credit Card?

Details about the annual fee, if applicable, can be found on the HDFC Bank website or in the terms and conditions provided with the card.

8. How can I redeem the rewards earned on my HDFC Purchase Premium Credit Card?

Redemption options may include online shopping, gift vouchers, or travel bookings. Check the HDFC Bank rewards program details for the redemption options available.

9. What are the foreign transaction charges associated with the HDFC Purchase Premium Credit Card?

Details about foreign transaction charges, if any, can be found in the card’s terms and conditions. It’s advisable to be aware of these charges before using the card internationally.

10. How can I contact HDFC Bank customer support for queries related to the Purchase Premium Credit Card?

You can reach HDFC credit card customer care support through the helpline number provided on the back of your credit card or on the official HDFC Bank website. Additionally, you may visit a local branch for in-person assistance.