The HDFC Bank has recently introduced a New life style Credit Card i.e. “HDFC Regalia Gold Credit Card“. HDFC took the advantage of well known “Regalia” brand which has a prominent name in the industry over a period of time.
This new Premium Credit card offers you complementary membership to reward programs across Luxurious Travel and Hotel bookings. This credit card also offers you 5X Reward Points on spends at Marks & Spencer, Myntra, Nykaa & Reliance Digital with Complimentary lounge access.
Without a further ado let’s see What are the Features or Benefits this Credit card is offering?
And, I also share my Genuine opinion on this Credit card by discussing about its Drawbacks as well.
Let’s get Started..!!
Card Overview
| Credit Card Type | Premium Credit Card |
| Joining Fees | Rs.2,500 + GST |
| Renewal Fees | Rs.2,500 + GST |
| Best for | Airport Lounge |
What Benefits you get from this Credit Card ?
HDFC Regalia Credit Card Benefits
Let me go through 9 Top benefits offering by this Regalia credit card [Incl. My Analysis]
1. Welcome Benefit
HDFC Regalia Gold Credit card Features:
1. As a Welcome benefit, this HDFC Bank Regalia card holders will get Gift Voucher worth of Rs.2,500/- after paying the Joining fees of Rs.2,500 + GST.
In total, you should pay Annual fee for this HDFC Regalia Credit card is of Rs.2,950/- as a Joining fees inclusive of GST.
My Analysis
Getting a benefit of Rs.2,500/- by paying an amount of Rs.2,950/- is not a benefit to the customer.
2. If you spend Rs.1,00,000/- rupees within 90 days of getting issuing this credit card, the card holder will be eligible to receive Complimentary MakeMyTrip black Elite and Club Vistara Silver tire membership.
Moreover, the MakeMyTrip black Elite card holder will get 10% additional discount on the selected hotels with free room upgraded and early check ins etc.,
My Analysis
This Welcome benefit cannot be said to be very beneficial to the Cardholder but in case if you spend through this credit card for any of your need, then, this voucher might be helpful for you.
But don’t be in a hurry to spend it within 90 days of receiving the card.
“It’s not wrong to spend for your need and take the benefit but never spend it for the sake of benefit without need.”
Ultimately, You will loose your money.
2. Milestone benefits
Do you love Shopping?
If Yes, for this Credit card holders the HDFC bank offering the Shopping Vouchers .
1. You will get Rs.1,500/- worth of vouchers, if you spend Rs.1,50,000/- on Marriott, Myntra Marks, Spencer, Reliance digital on every calendar quarter. It is to be noted that you cannot redeem with all these merchants, you can redeem with any 1 merchant per quarter.
It means you will get 1% rewards on your spends.
HDFC Regalia Flight booking
2. Also this Credit card holder will get Rs.5,000/- worth of Flight vouchers through HDFC Regalia Flight booking on Rs.5,00,000/- spends.
3. To get additional Rs.5,000/- Flight vouchers, you need to spend Rs.7,50,000/- on regalia credit card on anniversary year.
My Analysis
HDFC named this benefit as a Milestone benefit. But I honestly didn’t understand that Milestone Benefit is either from the Customer’s point of view or from the HDFC’s point of view. Because when you spend an amount of Rs.1,50,000/- money on this credit card, for that HDFC is offering benefit worth of Rs.1,500/- i.e. just 1% only.
In any case, if the customer failed to pay Rs.1,50,000/- and that amount becomes outstanding, then, HDFC will charge more interest from the customer than providing 1% worth of benefit.
This is not a benefit my dear friends.
3. Annual Fees Reversal
Moreover, If you spend more than Rs.4,00,000/- in one year, then, you are not supposed to pay Renewal fees of Rs.2,500+GST for the next year. Simply, Zero Renewal Fees.
My Analysis
This HDFC Regalia Gold Credit card holder should pay the renewal fees inclusive of GST an amount of Rs.2,950/-. For that, the card holder should spend Rs.4,00,000/-. It means, the reward percentage you get is 0.73% only.
This feature can’t be said to be beneficial to the Cardholder but if you spend through this credit card for any of your need, then, this voucher might be helpful for you otherwise this is also not a benefit.
4. Can I convert any Transaction into EMI ?
Which Purchase transactions can be converted into EMI?
If you find it difficult to pay the amount you have spent, there is a facility to convert your Purchase transactions into EMI, but for this you should know about the facility called “Smart Buy“.
If you use this credit card and do any of the below Purchase transactions, then, you can convert those transactions into EMI within 60 days from the date of transaction.
| Eligible Transactions | Ineligible Transactions |
|---|---|
| 1. Insurance | 1. Any Gold & Jewellery related Transactions |
| 2. Groceries | |
| 3. Medical | |
| 4. Petrol | |
| 5. Utility | |
| 6. Apparel | |
| 7. Education | |
| 8. Electronics | |
| 9. Travel |
5. Contactless Card feature
HDFC Regilia Credit card comes with Contactless technology. In India you can make payment using this credit card at the Point of Sale (POS) Machine for a Maximum Payment Rs.5,000/- per transaction without entering the PIN number.
If you want to make a payment of more than Rs.5,000/-, then, this card holder should input the Credit card PIN number to complete the payment.
Also Read: How I Lost Money by Paying Fuel bills with Credit Card ?
6. Reward Points
HDFC Regalia Credit card Reward Points
When it comes to Reward Points, you will get 4 reward points if you spend on this card on Insurance, Utilities and Education on your every Rs.150/- spends.
You will get 20 reward points if you spend on this card on Marks, Spencer, Myntra, Reliance Digital, Nykaa on your every Rs.150/- spends.
You can redeem your accumulated Regalia reward points for your Flight or Hotel booking via SmartBuy portal at the rate of 1 RP = Rs.0.50/- paisa
The HDFC Regalia credit card Reward points value in rupees is Rs.0.20/- paisa
i.e. 1 reward point is worth 0.20/- paisa. If you want to earn 1 reward point, you have to spend at least Rs.150/- using this Regilia Credit Card.
The Maximum Reward points you can earn on this credit card per month is upto 50,000 Reward points only and in case of Grocery transactions the maximum reward points per month is limited to 2000 only.
My analysis
if you want to earn 50,000 reward points under 4x category, you have to spend at least Rs.18,75,000/- in a month.
if you want to earn 50,000 reward points under 10x category, you have to spend at least Rs.3,75,000/- in a month.
Therefore, it is advisable to spend your credit card as per your need rather than earning the reward points.
If you want to redeem your reward points, then you will get below mentioned value
| If you redeem Reward Points | You will get |
|---|---|
| 1. For Air Miles | 1 RP = 0.50 Air Miles |
| 2. Products, Gift Vouchers on Smart Buy portal | 1 RP = Rs.0.35/- |
| 3. For Exclusive Gold Catalogue on Smart buy portal | 1 RP = Rs.0.65/- |
| 4. For Credit Card Statement balance | 1 RP = Rs.0.20/- |
7. Insurance Benefit
HDFC Regalia credit card Travel Insurance
This Regalia Cardholder can avail Accidental Air Death benefit worth Rs.1 crore. But this benefit will be given only if the Flight tickets are booked through this HDFC Regalia credit card.
In case if you are travelling abroad, then, you can avail Emergency Overseas hospitalization up to Rs.15 lakhs rupees.
My Analysis
These two insurance benefits are helpful to the cardholders.
8. Lost your Credit Card ?
In case if you lost your Millennial Credit card & suffered with any Financial loss, then, that loss will be covered to you up to Rs.9,00,000/- rupees under the cover of “Lost Cover Liability“. To get this benefit, the card holder should report immediately to the HDFC 24×7 Customer care Call Centre on any fraudulent transactions made on this credit card.
The this feature is beneficial
9. Lounge access
HDFC Regalia Credit card Lounge access
This HDFC Regalia card holder can get 12 complementary domestic and international lounge access. For that, you need to swipe your HDFC Regalia credit card at the lounge to avail this Complementary lounge benefit.
HDFC Bank Priority pass
HDFC Bank Priority pass is a membership program which allows the travellers to access to airport lounges across the world on enrolment without worrying of Airlines or Flight class.
With this credit card, you and your Add-on card holder together can avail up to 6 complimentary outside India lounge access for calendar year
If you exceeded this limit then you will be charged with $27 USD + GST per visit
Who are Eligible?
HDFC Regalia Credit card Eligibility:
For Salaried
– Individuals with Minimum age of 21 years and the Maximum age of 60 years
– Salaried employees having Net monthly Salary of more than Rs.1 lakh
– with Decent CIBIL Score
are eligible to apply for this card.
For Self employed
– Individuals with Minimum age of 21 years and the Maximum age of 65 years
– Individuals having Income as per ITR should be more than Rs.12,00,000/-
– with Decent CIBIL Score
are eligible to apply for this card.
How to Apply for this Card ?
Apply for HDFC Regalia Credit card:
If you want this Credit card, you can easily Apply for hdfc regalia credit card.
HDFC Regalia Gold Credit Card Charges [Must Read]
The HDFC Bank Regalia Credit card Charges are mentioned below
1. Cash Withdrawal charges
If you withdraw Cash by using this Credit card, a Transaction fee would be levied on all such Cash Withdrawals at Domestic or International ATM’s. Such fees would be billed to the Cardholder in the next statement. A transaction fee of 2.5% or Rs.500/- whichever is higher will be charged at domestic and international ATMs.
It is my sincere and humble request for all the Credit Card users that Whatever the Credit card you use, you Please don’t make any Cash Withdrawals by using your Credit Card. Consider this as my Personal request.
A Small request to all
You can Withdraw Money using this HDFC Regalia Credit card but Don’t withdraw cash from any credit card. If you have urgent cash requirement / Cash crunch, then i suggest you to take a Gold Loan or a Personal Loan. Those are much better options.
Because in a Personal Loan, every month you pay Principal amount plus Interest as an EMI. The rate of interest for Personal Loan ranges from 15 to 20% p.a. on a higher note.
Do you know how much Interest you will be charged on Credit Cards ?
In the some Credit cards, the Rate of interest is 3.25% per month. It means you have to pay up to 42% per annum as a Finance / Interest charges on your Credit Card Outstanding balance.
In short, the Rate of interest you will be charged on a Credit card is more than double the interest you will be charged on a Personal Loan.
2. Interest charges / Finance Charges ?
You have used this Credit card and bought all the stuff you need.
But you don’t have enough money to pay the Credit Card Outstanding amount.
Then, the bank will charge you Interest between @3.60% per month. It means, the Annual interest is almost 43.20% per annum.
These finance charges won’t be stopped until you pay off your Credit Card outstanding balance in Full.
3. Late payment charges
Apart from Interest charges, if you delay paying this Credit card Outstanding by 1 day, you will have to pay Penalty Charges on top of your Credit card Outstanding.
Generally, the Late payment charges ranges from Minimum Rs.100/- rupees to Maximum Rs. 1,300/- depending on your Credit card outstanding. If your credit card outstanding balance is from Rs.100/- to more than Rs.50,000/- ,then you should bear Late payment charges.
So, if you use credit card you have to be very organized and should deal with Credit card timelines properly.
4. Over the limit charges
You might not have heard about these charges earlier. Let check it out.
If you spend more than available limit on the credit card. That means you have over used your Credit card. Then, you will be charged with “Over The Limit charges”.
The more you spend than your Credit card limit, the more you will be charged i.e. @2.50% on the overdrawn amount. The Minimum amount will be charged starts from Rs.550/- rupees.
5. Forex Markup Fees
HDFC Regalia Credit card International transaction Charges:
If you travel abroad and make any International transactions, you will be charged with 2% of transaction value as a Forex Markup Fees.
To Whom it is Useful?
If you are looking for a Credit card with Domestic and International Airport Lounge facility, this HDFC Bank Regalia card may be suitable for you. Apart from that I personally felt, Accidental Air death benefit and Lost card facility are helpful in case of risk point of view.
Thanks for your time 🙂
