The credit card business has become highly competetive. You have agents barging in at all times trying to sell credit cards of some Bank or the other. I have been always weary of these agents. Not that I don’t use credit cards. I have been using Credit cards since its inception in this country. And my usage of the cards is extremely high. Already saddled with many cards I try to avoid any agent trying to approach me.
But the story of HDFC Credit cards was different. I have been banking with HDFC Bank since April 2000 and am very pleasantly impressed with their services esp. the high tech ideas. I therefore gave an ear to the sales pitch of the HDFC agent.
Today I possess one more card - the HDFC VISA credit card.
The features that impressed me were
Double the Reward points - 2 points for every Rs. 100/-. Other cards offer only 1 point.
An initial credit period of 90 days. No interest for 90 days and you repay back just 5% of the bill amount. I could splurge on the card and keep my money in Fixed Deposits earning interest. After the 90 day period I will close the FD and clear the credit card dues. On Rs.60000/- spent I earn a cool Rs.1000/- Bank interest thru’ this FD at 7%.
The lowest interest rate.
The facility to transfer from your HDFC Bank account to the Credit Card account online.
I thus summarise its advantages as under
H - High credit period
D - Double Reward points
F - Falling Interest rates
C - Credit Card
My only negative point for this card is the lack of online transaction viewing facility. This is surprising considering HDFC Bank is such a high tech bank.