HDFC Freedom Credit Card 2024 Features, Benefits, Eligibility Criteria, Fees & Charges0

June 29, 2024 by Penny Gusner

1. Celebrate your birthday with 25 times reward points on card transactions.
2. Earn 10 times reward points on purchases through PayZapp and SmartBUY.
3. Receive a Rs.1,000 gift voucher when you spend over Rs.90,000 in a year.
4. Renewal fee waived for annual spends exceeding Rs.50,000.
5. Enjoy an interest-free period of up to 50 days.

Features and Benefits of the Freedom Credit Card

Annual and Renewal Benefits

1. Spend Rs.90,000 in a year and receive a gift voucher valued at Rs.1,000.
2. If you spend Rs.60,000 on your card within the year, the membership fee for the following year will be waived.

Fuel Benefits

You will not be charged a 1% fuel surcharge on fuel transactions between Rs.400 and Rs.5,000, with a maximum waiver of Rs.250 per statement cycle.

Reward Point Benefits

1. Receive a generous benefit of 500 reward points upon joining.
2. During your birthday month, earn 25 times the reward points.
3. Avail 5 times the reward points on purchases such as movies, groceries, dining, taxis, and railway expenses with your credit card.
4. Earn 10 times the reward points on transactions made through PayZapp and SmartBUY.
5. Upon renewing your card, receive a bonus of 500 reward points.

See Also

IndusInd Bank Platinum Credit Card

HSBC Visa Platinum Credit Card 

How to Change SBI ATM PIN?

Fees & Charges

Type of Charge	Amount
Annual fee	Rs.500
Interest-free period	Up to 50 days
Minimum repayment amount	5% or a minimum of Rs.200
Charges on revolving credit	3.49% per month
Cash advance limit	40% of the credit limit
Late payment charges	If the statement balance is less than Rs.100 – Nil Balance between Rs.100 and Rs.500 – Rs.100 Balance between Rs.500 and Rs.5,000 – Rs.500 Balance between Rs.5,001 and Rs.10,000 – Rs.600 Balance between Rs.10,001 and Rs.25,000 – Rs.800 More than Rs.25,000 – Rs.950
Additional card fee	Free
Payment return charges	2% of the payment amount subjected to a minimum of Rs.450.
Rewards redemption fee	Rs.99 per redemption request
Charges on over limit account	2.5% of the over limit amount subjected to a minimum of Rs.500
Cash advance charges	2.5% of the amount withdrawn or Rs.500, whichever is higher
Balance transfer processing charges	1% of the balance transfer amount or Rs.250. The higher amount will be taken.
Outstation cheque processing charges	Cheque value of up to Rs.5,000 – Rs.25 Cheque value of more than Rs.5,000 – Rs.50
Cash processing fee	Rs.100
Reissue of a stolen, lost or damaged card	Rs.100
Railway ticket purchase fee	1.8% of the transaction amount + GST
Foreign currency transactions	3.5%
Fuel transaction charges	Rs.250 per statement cycle will be waived off

Eligibility Criteria

• If the primary cardholder is a salaried individual, he or she must be between the age of 21 years and 60 years. His or her gross monthly income must be more than Rs.12,000.
• If the applicant is a self-employed individual, he or she must be between the ages of 21 years and 65 years. His or her income tax returns must be greater than Rs.2 lakh per annum.
• The primary applicant must be a resident or a non-resident of India.
• The add-on cardholder must be at least 15 years of age.

Documents required for applying for the HDFC Bank Freedom Credit Card

Required documents:

• Copy of Form 60 and PAN card.
• Completed application form
• Evidence of income such as Form 16, recent salary slips, or income tax returns.
• 2 passport-sized colored photos.
• Address verification like PAN card, Passport, Aadhaar card, or electricity bill copy.
• Identity verification like Aadhaar card, PAN card, or driver’s license.

Details

Best Suited for	Rewards
Joining Fee	Rs. 500
Renewal Fee	Rs. 500 (Waived off on spending Rs. 50,000 in a year)
Minimum Income Requirement	Salaried: Rs. 12,000 p.m. Self-employed: ITR> Rs. 6 lakh p.a.
Welcome Benefits	500 CashPoints after the payment of joining fee
Best Feature	10X CashPoints on transactions via Big Basket, BookMyShow, OYO, Swiggy & Uber

Pros & Cons

Pros

1. Redemption of reward points against cashback as statement credit
2. Annual fee waiver on achieving spending milestone
3. Welcome or renewal benefits in the form of bonus reward points
4. Low interest rate and satisfactory rewards on EMI spends

Cons

1. Low reward rate and redemption value as compared other credit cards with similar annual fee
2. No travel benefits like lounge access, free tickets
3. Limitations on the redemption of CashPoints against travel bookings & product purchases
4. No reward points on rent payments and govt related transactions

HDFC Bank Freedom Credit Card Limit

The HDFC Freedom card’s credit limit is determined solely by the bank, considering various factors such as the applicant’s credit score, credit report, and repayment history of previous and current loans.

Reward Point Benefits of the HDFC Bank Freedom Credit Card

1. For every Rs.150 you spend, you will receive 1 reward point.
2. Receive 25 times the reward points on all your birthday purchases.
3. Enjoy accelerated reward points of 5 times on movies, dining, groceries, railways, and taxi bookings.
4. 10 times reward points will be awarded for transactions made through PayZapp and SmartBUY.
5. Upon paying your renewal fee, you will receive a bonus of 500 reward points.
6. A welcome bonus of 500 points will be granted upon payment of your annual fee.

How to redeem reward points earned on the HDFC Bank Freedom Credit Card?

Reward points can be redeemed using offline or online channels. To redeem offline, the rewards redemption form must be downloaded from the HDFC Bank website. Fill in the details and send it to the specified address.

Rewards Helpdesk,

HDFC Bank Cards Division,

P.O. Box No. 8654,

Thiruvanmiyur, P.O.,

Chennai – 600041.

You can also log in to your Net banking account and redeem your reward points online as well. To do so, here are the steps you need to follow:

To access your HDFC credit card net banking account, log in first. Then, navigate to the ‘credit cards’ tab. Register your card, proceed to ‘redeem reward points’, and click ‘continue’. You will be directed to the rewards redemption page. Choose ‘Redeem Reward Points’, select the item category, and specify the points range to view products. Add desired items to your cart, then click ‘view your shopping cart’. Review the terms and conditions, check the box, and click ‘redeem’. Make sure to jot down the redemption order number for future use.

HDFC Freedom Credit Card Images