HDFC Bank is a market leader and the largest credit card issuer. Most of its credit cards have a decent 2% forex markup on international spending. It also rewards cardholders for International spending with the HDFC Global Value Program. This program provides cashback on International Spending with your HDFC Bank Credit Card. In a world where most banks have a high forex markup, here is HDFC with a low forex markup and also a rewarding program for International spending. Here is how this works.
What is the HDFC Global Value Program?
HDFC Global Value Program is a registration-based promotional program for International Spending. Once you are registered for the program, you are eligible to receive 1% cashback on all International Spending.
You don’t have to do anything else besides registration for this promotion.
Eligibility
All HDFC Retail & Business Credit Cards are eligible for enrollment. And, Corporate & Commercial Cards are ineligible for this promotion.
Fees
This program has an annual fee of INR 199+ taxes. It is an auto-renewal program, so you will have to call HDFC to cancel your participation if you don’t want to get charged next year. But, I think the charges are low for the benefits it offers.
Joining Benefits
After registration and 1st International Transaction, you are eligible for 500 Bonus Points as joining benefits. This benefit is only available in the first year itself.
For Cards with a one-point value of INR 0.5, it is a no-brainer program to be enrolled in.
Benefits [Earn 1% CashBack]
On all your International spending, whether PoS or online, you will receive 1% cashback. Let’s say you spent INR 1 Lac in foreign currency, and then you will receive INR 1000 cashback in the next statement cycle.
So, you can get INR 12K cashback in a year with the HDFC Global Value Program by spending an additional INR 235, including taxes.
Ineligible Transactions
You won’t get cashback on the following transactions:
- Transactions done in INR at International locations & websites
- Gaming
- Betting
- Gambling
- ATM Withdrawals
- Cash-on-Call
- Balance Transfer
- Balance Transfer on EMI
- Personal Loan on Credit Card
Milestone
If you spend INR 1.5 Lac on International spending in a year, you will also receive an INR 2000 voucher. You can choose a voucher from Yatra, Clear Trip, or Make My Trip.
How to apply for the HDFC Global Value Program?
You could register for this program by messaging GVPYES to 5676712 to HDFC earlier.
However, now, per the official T&C, you must call the Phone banking/ Customer support team to enrol in this program. You will need to confirm to the executive that you understand the terms, and upon successful request placement, this program will be activated within five days.
HDFC will send a confirmation message for successful enrollment in the program.
Should you Subscribe?
Absolutely. You can save 1% on your International Spending with this promotion. And the annual fee is also very low at INR 235. This is a must-have program, especially for credit cards having a one-point value of INR 0.50.
Bottomline
HDFC Global Value Program is the program you should enrol in. It is a great program to help you save 1% on all International spending. It is rare to see banks giving cashback on International spending in the world of high forex charges.
