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Credit Card Review: HDFC Bank Regalia First; Eligibility, fees, charges, reward points and other features

Sunil Dhawan
Credit Card, HDFC Bank, Regalia First, HDFC Bank Regalia First, reward points, Priority Pass membership, credit card holders, hdfcbankregalia

Credit cards are increasingly becoming a must-have in this digital age. Some of them are plain-vanilla cards while some could be co-branded ones. While some cards may cater to all, there are some cards that only cater to the lifestyle needs of the premium or the super premium segment.

HDFC Bank has five cards on offer in the Super Premium segment Infinia, Regalia, Regalia First, Diners Club Black and Diners ClubMiles. Here we take a look at Regalia First.

Eligibility

The income and age criteria for salaried and self-employed are different. One is eligible for Regalia First Card based on the following:
Salaried : Minimum age 21 yrs and Maximum age 60 Years.
Income: Gross Monthly Income of more than Rs 40,000

Self Employed : Minimum age 21 yrs and Maximum age 65 Years.
Income: ITR of more than Rs 5 lakh per annum

Fees and Charges

First Year Membership Fee: Rs. 1000 plus Applicable Taxes
Renewal Membership Fee: Rs. 1000 plus Applicable Taxes. However, on spending Rs. 1,00,000 in 12 Months one gets the renewal fee waived for next renewal year

Reward Points

For every Rs 150 spent on the card, there are 4 Reward Points to be earned and can be used to buy free Air Tickets. Welcome Benefit of 1000 Reward Points and renewal benefit of 1000 Reward Points (applicable only after the membership fee is realized and not applicable when the fee is waived off)

Reward points will not be accrued for fuel transactions. Also, effective 1st July 2017,
a. EasyEMI and e-wallet loading transactions will not accrue Reward points.
b. Reward points accrued will be reversed if a retail transaction is converted into SmartEMI.
c. Reward points accrued for Insurance transactions will have a maximum cap of 2,000 per transaction.

Further, there is an ‘annual spend benefit’ that comes with bonus points based on total spend during the year. One may earn 7,500 Reward Points on annual spends of Rs. 6,00,000 or more in each anniversary year. On annual spends of Rs. 3,00,000 or more in each anniversary year, there are 5,000 Reward Points for the picking.

Remember, the reward points are valid only for 2 years from the date of accumulation.

Complimentary Priority Pass membership

Regalia First credit cardholders get a complimentary Priority Pass Membership for preferential access to over 1000+ airport lounges around the world. With the Regalia First, one only gets the access and remember the visits to the lounges are paid.

All Lounge visits within India using priority pass will be charged at US $27 + GST as applicable per person per visit. For Lounge visits within India, Regalia First Primary Cardholders can avail 8 complimentary lounge access per calendar year through Regalia First Visa/Mastercard Credit Card Lounge program. Lounge Visits outside India exceeding the 3 complimentary visits will be charged at US $27 + GST as applicable per person per visit.

Interest free credit period

The cardholder will get up to 50 days of interest free credit. The minimum amount due is 5 per cent of total amount due subject to a minimum of Rs. 200 and one may then carry forward the balance amount to next month at an interest charge of just 3.49 per cent per month. However, as a prudent measure, never roll over the outstanding balance instead pay the entire dues well within the due date.

Fuel surcharge

On a minimum transaction of Rs 400, the 1 per cent fuel surcharge gets waived off on fuel transactions. However, the maximum cash back is Rs 500 per statement cycle.

There is a convenience fee waiver of 1 per cent on all fuel transactions. The waiver on convenience fee is applicable only for fuel transactions between Rs. 400 to Rs. 5000 (Maximum waiver of Rs 500 per statement cycle).

Fuel surcharge varies from 2.5 per cent to 1 per cent of fuel transaction amount. The rate of surcharge may vary depending on the fuel station and their acquiring bank.

Traveller

If you love travelling, on the www.hdfcbankregalia.com , an exclusive portal for Regalia First credit cardholders, you can choose to redeem your Reward Points instantly against airline ticket booking or for hotel booking. Each Reward Point is worth 30 paise when redeemed on this website. And, in case you are booking an international flight, the card charges a foreign currency markup of 2 per cent on all your foreign currency spends.

Insurance covers

Air Accidental death : In case of death in an Air accident, the nominee is entitled to receive a compensation of Rs. 50 lakh. Make sure to update your nominee details with the bank. Air Accident cover will be activated if the tickets are purchased using HDFC Bank Regalia First credit cards.

Emergency Overseas Hospitalisation: When the Regalia First credit cardholder is travelling, and is outside the home country, there is a protection worth up to Rs. 10 lakh against any medical emergency. In addition, there is a credit liability cover of up to Rs 500,000. All the above insurance covers are available to the Primary card holder.