HDFC Bank Biz Power Credit Card: Business Credit Card
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Getting a business credit card is very important for growing your business today. Unlike personal credit cards, these cards focus on covering business expenses and usually offer higher credit limits and better rewards for travel and advertising. They are useful for both small businesses and large companies, and the type of card you choose can impact your liability.
The HDFC Bank Biz Power Credit Card is great for entrepreneurs. It offers excellent benefits for travel, bill payments, and tax management. If you sign up and make one online purchase within 30 days, you can choose between a ₹1,500 Amazon gift voucher or an Amazon Prime membership, plus you'll get a six-month Bisprime subscription. This card is specially designed for self-employed individuals, making it easier to manage business spending.
Key Advantages
• Great Rewards: Earn 4 Reward Points for every ₹150 spent on business expenses. If you spend over ₹25,000 a month on things like income tax, GST, and bills through Payzapp/SmartPay, you can earn 5X Reward Points (up to 5,000 points). For spending on Flipkart, MakeMyTrip, or Amazon via SmartBuy, enjoy 10X Reward Points!
• Travel Perks: Get up to 16 free visits to domestic airport lounges each year (2 per quarter). Spend ₹75,000 to add 2 more visits. Plus, enjoy 6 international lounge accesses yearly with Priority Pass.
• Exclusive Offers: Complete one online transaction in the first month to choose between a ₹1,500 Amazon voucher or a Prime membership plus a 6-month Biz Prime subscription. Reach quarterly spending goals of ₹2.5 Lakhs to earn up to ₹10,000 in annual gift vouchers. Save up to 40% on business travel and software with SmartBuy BizDeals and get 10% off dining too!
• Safe and Valuable: The card offers Zero Lost Card Liability protection. Redeem reward points at a value of up to ₹0.65 per point. Plus, if you spend over ₹4 Lakh in a year, the ₹2,500 annual fee is waived.
Fees & Other Charges
- Joining Fee: ₹2,500 plus taxes. This fee is charged 120 days after the card is issued.
- Annual Fee: ₹2,500 plus taxes. You can avoid this fee if you spend ₹400,000 (₹4 Lakh) or more in the previous year.
- Foreign Currency Transaction Fee: 2%.
- Cash Advance Fee: ₹500 or 2.5%, whichever is higher.
- Payment Return Charge: 2% of the payment, with a minimum of ₹400.
- Overlimit Charge: 2.5% of the overlimit amount, with a minimum of ₹550.
- Rewards Redemption Fee: ₹99.
- Finance Charges: 3.75% per month or 45% per year. Late payment charges also apply and depend on the statement balance.
Eligibility Criteria
To apply, you usually need to be self-employed, between 21 and 65 years old, and have an annual income tax return of over ₹12 Lakh.
Required Documents
- Self-employed individuals need specific documents for HDFC Biz Power Credit Card.
- Required documents include ITR, GST returns, bank statements, and merchant payment reports.
- An annual ITR of ₹12 Lakh is preferred but not always necessary.
- Applying with a lower ITR might still result in approval.
How to Apply
To apply for the HDFC BizPower Credit Card, follow these steps.
- Visit the official HDFC website.
- Click on 'Apply Now'.
- Provide your mobile number, date of birth, and PAN number.
- Click on ‘Get OTP’ and enter the received code.
- Confirm details as requested.
- Select the HDFC Biz Power Credit Card to finish the application.
- You can also apply at the nearest HDFC Bank branch.