HDFC Bank is well-known for its Diners Black Credit Card, particularly due to its Smartbuy 10X rewards program.
The bank has introduced a new business variant called the HDFC Bank BizBlack Credit Card, targeting small business owners.
The BizBlack Credit Card offers unique benefits, such as 5X rewards on tax payments, which is an industry first.
Overview of the Card
- Type: Super Premium Business Credit Card
- Reward Rate: 3.3% to 33%
- Annual Fee: ₹10,000 + GST
- Best for: Tax payments
- USP: 5X Rewards on Tax/Bill Payments
- It is a business credit card issued on personal liability, meaning spends are reported to the personal PAN.
Target Audience
- Primarily designed for sole proprietor companies but is available for other business types as well.
Fees & Charges
- Joining Fee: ₹10,000 + GST
- Joining Fee Waiver: On spending ₹1.5L in the first 90 days (fresh issuance only)
- Welcome Benefits: Club Marriott Membership, ₹5,000 Taj Voucher
- Renewal Fee: ₹10,000 + GST (waived on spending > ₹7.5L)
- Welcome Gift: ₹5,000 Taj Voucher on ₹1.5L spends in first 90 days
- Potential to be Free: Joining fee waiver on spending ₹1.5L within 90 days, unlocking the ₹5K Taj Voucher.
Design
- Form Factor: Metal card with a neat and simple design.
- User Preference: Option to choose between metal and regular plastic cards would be appreciated due to the hassle of handling multiple metal cards.
Reward Points
- Regular Spend: 5 RP / ₹150 (3.3% for Flights/Hotels, 2.3% for Amazon Pay Voucher)
- Accelerated Rewards: 5X Rewards (25 RP / ₹150, 16.5% for Flights/Hotels, 11.55% for Amazon Pay Voucher)
- Redemption Options: Amazon Pay Vouchers, part of the “business catalog” (1RP = ₹0.70)
- Reward Points Validity: 3 Years
- Caps: 5X rewards capped at 7,500 RP per statement cycle (equivalent to ₹56,250 spend)
- Earning & Redemption Caps: Max earning of 1.5L RP per statement cycle; 75,000 Points per calendar month.
5X Rewards Specifics
- Applicable on: Income Tax Payments, GST Payments, PayZapp Bill Payments, SmartPay, Other Business Payments via Nuclei.
- Savings Potential: Up to 16.5% on business spends.
- PayZapp: Revival of lucrative bonus points on PayZapp bill payments.
Milestone Rewards
- Spending Targets: Rewards on hitting spends of ₹5L, ₹10L, ₹15L, and ₹20L (1% reward rate per milestone)
- Voucher Options: SmartBuy Flight / Taj Stay vouchers (up to ₹20,000 per calendar year)
- Exclusions: Rent and fuel spends do not count towards milestone benefits.
Lounge Access
- Domestic & International: Unlimited access via Diners Club for primary and add-on cardholders.
- Eligibility: Card must be active monthly.
Golf Benefit
- Complimentary Games: 6 per quarter.
- Coverage: 20 Domestic and 140 International Golf Courses.
- Note: Does not include lessons.
Forex Markup Fee
- Fee: 2% + GST (Net 2.2%)
- Net Gain: 2% after rewards and Global Value Program cashback.
Potential Devaluation
- Observation: High likelihood of devaluation, especially with 5X bonus points on PayZapp.
- Other Benefits: Expected to remain intact due to sufficient capping.
Hands-on Experience
- Usage: Effective for income tax payments despite the 0.70% convenience fee.
- Reward Points: Bonus points credited within 3 days of statement generation.
Recommendation
- Who Should Get It: Ideal for business owners with significant tax and business-related spends (₹50K INR/month).
- Limitations: Diners Club platform acceptance issues with small merchants.
- Additional Benefit: 55 days credit period, slightly longer than other personal credit cards.
Eligibility Criteria
- For Fresh Applications: ITR > ₹21 Lakhs p.a.
- Existing Credit Card Holders: Credit limit > ₹6 Lakhs.
- Documentation: GST Returns, Bank Statements, etc.
Application Process
- Online Application: Available through HDFC Bank’s website.
- Offline Application: Through the bank branch if online eligibility is not met.
Conclusion
- Rating: 5/5
- Summary: HDFC BizBlack Credit Card is highly beneficial with significant rewards on business spends, particularly with the 5X rewards. Potential to save ₹1L per year for businesses with regular monthly spends of ₹50K. Lounge access, Golf, and milestone benefits add extra value.
