HDFC Regalia Credit Card and HDFC Millennia Credit Card are the two most popular credit cards in the lifestyle category by HDFC Bank. whereas HDFC Regalia The card offers slightly higher premium benefits and while targeting financially affluent individuals, the Millennia Credit Card, as the name suggests, is targeted at young professionals and first-time job seekers, most of whom are millennials.
In this article, we will break down the features and benefits of both the credit cards one by one and then give you a quick comparison between the two, to make it easier for you to decide which one is best for your needs.
hdfc bank regalia credit card
HDFC Regalia Credit Card is one of the most popular credit cards in the lifestyle or sub-premium category in the Indian credit card market. This can be the card of choice for middle to high income group individuals. The card offers reward rates of up to 1.3% and several other add-on benefits such as complimentary domestic and international airport lounge access, discounts on dining bills, insurance benefits and low foreign currency mark-up charges. HDFC Regalia Credit Card membership fee is Rs. 2,500 per year.
Some of the key features of HDFC Regalia Credit Card are as follows-
- You earn 4 reward points per Rs. 1 Reward Point worth Rs.150 spent with HDFC Regalia Credit Card. 0.20 to Rs. 0.50 Points are redeemed based on the category of expense.
- Minimum Rs. 15,000 bonus reward points as a milestone benefit on spending of Rs. 8 lakh in an anniversary year.
- Complimentary domestic and international airport lounge access with the Visa Domestic Lounge Program and complimentary membership of the Priority Pass lounge access program.
- Low foreign currency mark-up fee of 2% on international transactions.
- Rebate in renewal fee on minimum annual expenditure of Rs. 3 lakhs.
- Complimentary air crash cover up to Rs. 1 crore.
- Discounted rates and BOGO (Buy One Get One) offers on dining at partner restaurants with Dineout Passport.
All the above features make HDFC Regalia Credit Card an attractive offering in the mid-tier to sub-premium category. As far as the eligibility criteria are concerned, the income of the salaried applicants should be at least Rs. 70,000 per month, and for self-employed applicants, the minimum income requirement is Rs. 8,40,000 per annum.
HDFC Bank Millennia Credit Card
HDFC bank Recently revamped the Millennia Credit Card with an enhanced cashback program. As mentioned earlier, the Millennia Credit Card is designed to suit the needs of young professionals. Keeping in mind the spending habits of millennials, HDFC Millenia Credit Card offers high reward rates on online spending. HDFC Millennia Credit Card comes with a membership fee of Rs. Exemption is given on minimum annual expenditure of Rs.1 lakh. 1 Lac. Some of the key features of HDFC Millennia Credit Card are as follows-
- HDFC Millennia Credit Card is offered in three variants – Visa, MasterCard and RuPay variants.
- You earn cashback in the form of cashback that can be redeemed against card statement balance, flight/hotel bookings, product purchases, or transferred to the Frequent Flyers Program of partner airlines in the form of AirMiles. The cashpoint redemption value is the highest upon cashpoint redemption for adjustment of the card’s statement balance.
- Millennia Credit Card gives you 5% cashback on partner e-commerce websites including popular brands like Amazon, Flipkart, Myntra, BookMyShow, etc and 1% cashback on all other categories of spends. The maximum number of Cashpoints that can be earned in a given month is limited to 1,000 Cashpoints.
- You get 8 complimentary domestic airport lounge access and 2 complimentary international airport lounge access every year with the Millennia Credit Card.
- As a dining benefit, you can avail up to 20% off at partner restaurants with complimentary membership to the Dineout Passport program.
To be eligible for HDFC Millennia Credit Card, salaried applicants must have a minimum income of Rs. 35,000 per month, while the minimum income requirement for self-employed applicants is Rs. 6,00,000 per annum.
The following table gives you a quick comparison between HDFC Regalia and HDFC Millennia credit cards-
|hdfc regalia credit card||hdfc millennia credit card|
|Welcome / Renewal Benefits||2,500 reward points on joining subject to recovery of membership fee||1,000 cashpoints as welcome benefit on payment of joining fee|
||Gift Voucher of Rs. 1,000 on quarterly expenditure of Rs. 1,00,000|
||20% off partner restaurants via Dineout|
|membership fee||Rupee. 2,500, exempted on an annual expenditure of Rs. 3,00,000||Rupee. 1,000, discounted on an annual expenditure of Rs. 1,00,000|
As is evident from the comparison above, assuming that you are eligible for both the credit cards, HDFC Millennia Credit Card should be your choice if you spend a lot on online shopping and especially on HDFC partner e-commerce websites. (which includes big names like Amazon, Flipkart and Myntra) because you get a huge 5% cashback. In addition, the cashpoints earned can be adjusted directly against the statement balance of your card with 1 cashpoint valued up to Rs. 1 (1:1 redemption ratio).
On the other hand, if you are a frequent traveler, especially to international destinations, then the Regalia credit card would be better for you as you not only get complimentary membership to the Priority Pass lounge access program, but also lower mark-up charges on foreign currency transactions even get. .