The credit limit of the HDFC Freedom card is completely at the discretion of the bank. The bank takes certain factors into consideration before assigning a credit limit. The credit score of the applicant, the credit report is checked along with repayment habits of past and ongoing loans are also taken into consideration.
You can redeem reward points through offline or online methods. If you wish to do so offline, you will need to download the rewards redemption form from the HDFC Bank website. The details will need to be filled and sent to the following address:
HDFC Bank Cards Division,
P.O. Box No. 8654,
Chennai - 600041.
You can also log in to your Net banking account and redeem your reward points online as well. To do so, here are the steps you need to follow:
|Type of Charge||Amount|
|Interest-free period||Up to 50 days|
|Minimum repayment amount||5% or a minimum of Rs.200|
|Charges on revolving credit||3.49% per month|
|Cash advance limit||40% of the credit limit|
|Late payment charges||
If the statement balance is less than Rs.100 - Nil
Balance between Rs.100 and Rs.500 - Rs.100
Balance between Rs.500 and Rs.5,000 - Rs.500
Balance between Rs.5,001 and Rs.10,000 - Rs.600
Balance between Rs.10,001 and Rs.25,000 - Rs.800
More than Rs.25,000 - Rs.950
|Additional card fee||Free|
|Payment return charges||2% of the payment amount subjected to a minimum of Rs.450.|
|Rewards redemption fee||Rs.99 per redemption request|
|Charges on over limit account||2.5% of the over limit amount subjected to a minimum of Rs.500|
|Cash advance charges||2.5% of the amount withdrawn or Rs.500, whichever is higher|
|Balance transfer processing charges||1% of the balance transfer amount or Rs.250. The higher amount will be taken.|
|Outstation cheque processing charges||
Cheque value of up to Rs.5,000 - Rs.25
Cheque value of more than Rs.5,000 - Rs.50
|Cash processing fee||Rs.100|
|Reissue of a stolen, lost or damaged card||Rs.100|
|Railway ticket purchase fee||1.8% of the transaction amount + GST|
|Foreign currency transactions||3.5%|
|Fuel transaction charges||Rs.250 per statement cycle will be waived off|
The HDFC Freedom card comes with chip card technology that makes tampering or copying the card impossible. Further, the technology makes it easy to make point of sale (POS) transactions with the card. Users just need to dip the card at chip-enabled POS terminals while they can swipe as usual at non-chip-based terminals.
The accumulated reward points can be redeemed for both cash and rewards. You can fill the request form available at the form center and send it to HDFC Chennai address.
Alternatively, requests can also be made through net banking. The cash redemption option is available under 'Cards > Enquire > Redeem Reward Points > Cash Redemption' in the net banking account.
Yes, cardholders can apply for a supplementary card with the Freedom card. The applicants should be either parents, spouse, children or siblings of the primary cardholder. Children and siblings applying for the add-on card should be above 18 years of age.
Some of the major benefits of the HDFC Bank Freedom credit card are:
The limit of the HDFC Bank Freedom credit card is given at the discretion of the bank. HDFC Bank takes several factors into consideration before assigning the credit limit. Some of the factors are the credit score of the primary applicant, the credit utilisation ratio, along with the repayment habits of past debts.
No, The HDFC Bank Freedom credit card is not free. It comes with an annual fee of Rs.500. However, if you spend more than Rs.50,000 in a year on your card, the annual fee of Rs.500 is waived off for the next year.
No, the HDFC Bank Freedom credit card is not a lifetime free card. The card has an annual fee of Rs.500 which must be paid every year. However, if your annual spends amount to more than Rs.50,000, the annual fee of Rs.500 is waived off and the card, for that year, is free.
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