HDFC Bank’s Biz Series Credit Cards are specifically designed for business owners and self-employed professionals in India, offering rewards and benefits tailored to business-related expenditures. Here’s an overview of the key cards in this series:
1. HDFC BizBlack Credit Card
- Target Audience: Self-employed individuals and business owners looking for premium rewards on business expenses.
- Key Features:
- Rewards: 5 reward points per ₹150 spent on all categories, with 5X rewards on business essentials like tax payments, utility bills, and vendor payments.
- Welcome Benefits: Club Marriott membership and Taj Stay Voucher worth ₹5,000 on spending ₹1.5 lakh within 90 days.
- Travel: Unlimited airport lounge access, both domestic and international.
- Insurance: Business insurance package including fire, burglary, and electronic equipment coverage.
- Annual Fee: ₹10,000 + GST, waived on spending ₹7.5 lakh in the anniversary year or ₹1.5 lakh within the first 90 days.
2. HDFC BizPower Credit Card
- Target Audience: Business owners seeking a balance between premium benefits and cost.
- Key Features:
- Rewards: 5X reward points on business spends like utility bills, GST, and specific software purchases.
- Travel: Up to 16 domestic lounge accesses per year, with 6 international lounge accesses via Priority Pass.
- Welcome Offer: Amazon Prime membership for one year plus Biz Prime for 6 months on the first online transaction within 30 days.
- Insurance: Similar business insurance package as BizBlack.
- Annual Fee: ₹2,500 + GST, waived on spending ₹4 lakh in the anniversary year.
3. HDFC BizGrow Credit Card
- Target Audience: Small business owners or those starting up, looking for rewards on business spend without the high fees of premium cards.
- Key Features:
- Rewards: 10X CashPoints on select business spends like income tax, GST, bill payments, with a cap per cycle.
- Welcome Benefits: A ₹250 gift voucher on making the first transaction within 37 days.
- Milestone Rewards: 2,000 CashPoints every quarter on ₹1 lakh spends (excluding rent and fuel).
- Fuel Surcharge Waiver: 1% waiver on fuel spends between ₹400 to ₹5,000 per statement cycle.
- Annual Fee: ₹500 + GST, waived on spending ₹1 lakh in the anniversary year.
4. HDFC BizFirst Credit Card
- Target Audience: Entrepreneurs who want a no-frills business card with some rewards.
- Key Features:
- Rewards: 3% CashPoints on EMI spends, 1% on UPI payments, and 2% on utility bills, electronics, SmartPay, and PayZapp transactions.
- Welcome Offer: ₹250 gift voucher on the first transaction within 37 days.
- Annual Fee: ₹500 + GST, waived on spending ₹50,000 annually.
Common Benefits Across Biz Series:
- Interest-Free Period: Up to 55 days on purchases, aiding in cash flow management.
- Reward Points/CashPoints: Can be redeemed against statement balance, products, or travel bookings via SmartBuy.
- Insurance: Varies by card but includes business-related insurance options.
- UPI Enabled: Some cards are enabled for UPI payments, adding convenience for digital transactions.
- Business Tools: Discounts or rewards on business-related software and services.
Considerations:
- Spending Thresholds: Each card has different spending thresholds for fee waivers and unlocking benefits, which should match your business’s expenditure pattern.
- Reward Caps: Be aware of caps on how many bonus points or CashPoints you can earn in certain categories.
- Acceptance: Since these are Diners Club cards, their acceptance might be limited compared to Visa or MasterCard in some regions or at smaller merchants.
Maximizing Your Card:
- Align Spending: Choose a card where the rewards match your business expenses.
- Monitor Thresholds: Ensure you’re hitting the spending needed for fee waivers and additional benefits.
- Redemption: Understand how to best use your points or cashback, whether for statement credit or through HDFC’s redemption options.
The Biz Series cards from HDFC cater to a spectrum of business needs, from startups to established enterprises, providing tools for managing business finances while offering rewards on business-related purchases.