Review: HDFC Bank Millennia, a credit card for millennials with cashbacks and complimentary lounge access

Aims to cater exclusively to the lifestyles and aspirations of millennials and the digital-first generation

Kumar Shankar Roy Sep 4, 2019

HDFC Bank Millennia Credit CardHDFC Bank has launched Millennia, a range of cards catering exclusively to the lifestyles and aspirations of millennials. The bank says the cards come loaded with benefits and rewards specifically for the digital-first generation. Millennials have a different approach to life. They are more impatient, prefer experiences over owning and are deeply shaped by technology. Let us take a closer look at the credit card variant. Read on


The Millennia credit card gives you 5% cashback on all shopping via SmartBuy & PayZapp, 2.5% cashback on all online spends, 1% cashback on in-store spends and wallet re-loads. You also get 8 complimentary lounge access in a calendar year. Plus, there is a fuel surcharge waiver of 1%.

Do note a few important things. As a launch offer, the maximum cashback that can be accrued on your spends/shopping via PayZapp and SmartBuy will be Rs 1,000 per month for the first six months post-issuance of the card. You can then earn 5% cashback on all spends/shopping via PayZapp and SmartBuy up to a maximum of Rs 750 per month. The minimum transaction size to avail the cashback is Rs 2,000.

You can earn 2.5% cashback on all online shopping/spends done on other websites or apps up to a maximum cashback of Rs 750 per month. The minimum transaction size to avail the cashback is Rs 2,000).

You can earn 1% cashback on all offline spends, wallet reloads, point-of-sale spends and other swipes up to a maximum cashback of Rs 750 per month. Do note that this is not applicable to fuel transactions. Minimum transaction size to avail the cashback, in this case, is Rs 100.

HDFC Bank millennia credit card
All cashback benefits are also applicable to EMI transactions, which is a good move.

The other features

Fuel surcharge waiver – There is 1% fuel surcharge waived off on fuel transactions. The minimum transaction has to be Rs. 400.

Lounge access – For Lounge visits within India, Millennia primary cardholders can avail eight complimentary lounge access per calendar year (twice in a quarter) through Millennia MasterCard/Visa Credit Card Lounge program. A transaction of Rs 2 will be charged to the credit card for the lounge access.

Contactless payments – The HDFC Bank Millennia Credit Card is enabled for contactless payments. In India, payment through contactless mode is allowed for a maximum of Rs 2,000 for a single transaction where you are not asked to input your Credit Card PIN. However, if the amount is higher than or equal to Rs 2,000, the card holder has to enter the credit card PIN for security reasons.

What is cashback

According to HDFC Bank, cashback will be given in the form of cashpoints, which can be redeemed by the customer against the statement balance.

The redemption against the statement balance will be at the rate of 1 cashpoint equal to Re 1. The minimum cashpoint balance required for redemption against the statement balance is 2,500 cashpoints. This will be redeemable in multiples of Rs 500 only.

Cashpoints can also be used for redemption against travel benefits like flight and hotel bookings and rewards catalogue at the SmartBuy rewards portal, at a value of 1 cashpoint equal to Rs 0.30.

Do note that unredeemed cashpoints will expire/lapse within one year of accumulation.

Welcome and milestone benefits

There are certain welcome and milestone benefits on the Millennia Credit Card.

There is a launch offer of Rs 1,000 worth gift vouchers on spends of Rs 1 lakh and above in each calendar quarter. Mind you this is a first-year benefit only.

You will receive a welcome benefit/renewal benefit of 1,000 cashpoints. Do note that this is applicable only on payment of membership fee.

Eligibility criteria

The eligibility criteria for Millennia credit card is straight forward.

Anybody between 21 to 60 years of age who is earning with a gross monthly income of more than Rs 30,000 (Rs 3.6 lakh a year) can apply.

For the self-employed, the age limit is a maximum of 65 years. They have to produce ITR (Income Tax Return) showing income of Rs 3.6 lakh a year.

Credit card fees

According to HDFC Bank, first-year membership fee is Rs 1000 + applicable taxes. Your first year’s membership fee will be waived off if you spend Rs 30,000 and above in the first 90 days.

The renewal membership fee is Rs 1000 + applicable taxes. Your renewal membership fee will be waived off if you spend Rs. 1 lakh and above in the first year.

RupeeIQ take

If you are a first-time credit card user, it is best that you avail a zero annual fee credit card. Those who are new to the credit space, they should use a credit card as a means to build their credit score.

A credit card that comes with an annual fee is for those who can do a cost-benefit analysis. The 1-5% cashback benefits offered in the Millennia credit card is an attractive one, but you should do a proper check of whether you will avail the offers. For instance, the maximum 5% cashback is on shopping via SmartBuy & PayZapp. Are your shopping needs met cost-effectively at SmartBuy & PayZapp? This question has to be answered by you. SmartBuy has tie-ups with e-commerce companies like Flipkart and Amazon besides travel portals and hotel aggregators.

Credit cards do not really make money unless you take credit and pay interest. Unless you want to pay interest, do use credit cards carefully especially with regards to interest-free days i.e. the period of time in your credit card billing cycle when you can make purchases without being charged interest.


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Disclaimer: Views expressed here in this article are for general information and reading purpose only. They do not constitute any guidelines or recommendations on any course of action to be followed by the reader. The views are not meant to serve as a professional guide/investment advice / intended to be an offer or solicitation for the purchase or sale of any financial product or instrument.

Kumar Shankar Roy

Kumar Shankar Roy is contributing editor with RupeeIQ. Kumar is a financial journalist, with a functional experience of 15 years. He tracks mutual funds, insurance, pension, PMS, fixed income/debt and alternative investments markets closely. He has worked for The Times of India, The Hindu Business Line, Deccan Chronicle Group, DNA, and Value Research, among others, across different cities in India. He is deeply interested in marrying data insights with actionable opinion. He can be contacted at

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