HDFC Bank Regalia Credit Card is a premium offering from HDFC Bank and is probably the most popular one. This card comes with some of the exciting features like lower foreign currency markup, Priority Pass membership, access to international and domestic airport lounges, Dineout Passport membership, travel concierge, insurance cover etc. The default reward rate on this credit card is 1.3% which accelerates to 5% with SmartBuy 10X program.
Eligibility Criteria
Regalia is a premium credit card and hence eligibility criteria is also suited for premium segment.
- Age: 21 to 60 Years for salaried, 21 to 65 Years for self employed
- Salaried: Net Monthly Income > Rs. 70,000 per month
- Self Employed: ITR > Rs. 8.4 Lakhs per annum
HDFC is very strict about the eligibility criteria for issuing new cards. However, the exceptions can be made based on your relationship with bank.
Fees
HDFC Bank Regalia Credit Card comes with following fees:
- Joining fee: Rs. 2,500 + GST
- Renewal fee: Rs. 2,500 + GST
Renewal fee is waived off if spend in previous year is more than 3 Lakhs. Most of the time, joining and renewal fee is waived off if you have a good standing relationship with HDFC Bank.
Features
HDFC Bank Regalia Credit Card comes with host of features and benefits to match premium lifestyle.
Welcome & Renewal benefits
- 2,500 welcome reward points, ~ Rs. 1,250
- 2,500 renewal reward points, ~ Rs. 1,250
HDFC compensates 50% for joining and renewal fee for this card by providing bonus reward points.
Reward Points
- 1 reward point = Rs. 0.50 if used for booking hotels and air tickets at dedicated portal
- 1 reward point = Rs. 0.20 if redeemed for cash
- 1 reward point ~ Rs. 0.20 if used for redeeming from reward catalogue
- 4 reward points per Rs. 150 spent, 1.3% reward rate
- Up to 5% cashback on Smartbuy (Amazon, Flipkart, Hotels & Flights etc.)
- Monthly cap on cashback: Rs. 2,000
- Reward points can be converted to AirMiles across Jet Airways (JPMiles) or Singapore Airlines (KrisFlyer Miles) in 2:1 ratio (2 Reward Points = 1 AirMile)
Smartbuy program, though temporary, keeps on getting extended every month. Also HDFC Bank recently imposed new restriction on flight and hotel bookings wherein HDFC Bank Regalia Credit Card members can redeem only upto maximum of 70% of booking value through reward points. Rest needs to be paid via Credit Card which is a bummer.
Airport Lounge Access
HDFC Bank Regalia Credit Card comes with Priority Pass memberships for primary as well as add-on card members. The limits for domestic and international airport lounge access is outlined below:
- 6 complimentary lounge access outside India using Priority Pass
- 12 complimentary lounge access within India using Visa/MasterCard Cards
Above limit is shared between primary and add-on card members and for domestic airport lounge access, both cards can’t be used on same day at same lounge. For domestic airport lounge access, complimentary access can be availed by swiping credit card, however for international, complimentary access can be availed only on swiping Priority Pass.
Spend Based Milestones
- 15,000 Reward Points on annual spends of Rs. 8,00,000 or more in each anniversary year
- 10,000 Reward Points on annual spends of Rs. 5,00,000 or more in each anniversary year
You can achieve a reward rate of 2.2% by spending Rs. 8 Lakhs in a year, which is quite decent.
Dineout Passport Membership
HDFC Bank Regalia Credit Card provides complimentary multi city Dineout Passport Membership to its cardmembers. Cardmembers need to speed Rs. 75,000 in a quarter to receive membership in the next quarter.
Protection
- Air Accident Cover of Rs. 1 Crore
- Emergency Overseas Hospitalization Cover of up to Rs. 15 Lakhs
- Credit Liability Cover of up to Rs. 9 Lakhs
The protection provided by HDFC Bank Regalia Credit Card is comprehensive and may come handy in case of any unfortunate event while traveling abroad.
Other benefits
- Low Foreign Currency Markup of 2%
- 15% discount at partner restaurants
- 24/7 Travel Concierge Services for making airline reservations, booking a hotel room or a movie.
- Convenience fee waiver of 1% on all fuel transactions
Low foreign currency markup of 2% makes this card one of the best credit cards for foreign travel and spends. Coupled with Global Value Program, you can almost escape the forex markup fee.
Drawbacks
HDFC Bank Regalia Credit Card ticks almost all check boxes, however there are some limitations too:
- No domestic lounge access for Primary and Add-On card members on same day: Primary and add-on cardmembers can’t access same domestic lounge on same day. If add-on card is swiped after primary card, the add-on card is charged for the access. This is mainly because both cards share the same card number and the system is not able to differentiate between the two.
- Restriction on reward point redemption for flights and hotels: The recently imposed restriction on flight and hotel bookings wherein HDFC Bank Regalia Credit Card holders can redeem only upto maximum of 70% of booking value through reward points is a bummer. I don’t understand the strategy behind imposing this restriction and it doesn’t makes any sense to me.
Verdict
Even with it’s little nuances, HDFC Bank Regalia Credit Card is a solid product, and probably HDFC Bank’s most successful one. International lounge access to both primary and add-on card members can come in handy during vacations. Low foreign currency markup of 2% is just cherry on the cake. If you’re offered this card from HDFC Bank, go for it without hesitating.
HDFC Bank Regalia Credit Card was my primary driver, before I switched to Yes First Exclusive Credit Card. I was able to acquire Yes First Exclusive Credit Card owing to generous credit limit of HDFC Bank Regalia Credit Card. I still use this card for 10X rewards on SmartBuy when I have exhausted the monthly limit of bonus reward points on my HDFC Bank Diners Club Black Credit Card.
How has been your experience with HDFC Bank Regalia Credit Card? Let me know in comments below.
