HDFC BizBlack Metal Edition Credit Card: From fees to rewards, everything you need to know

The HDFC BizBlack Metal Edition Credit Card is a prestigious card that offers numerous benefits specifically tailored for business professionals and high net worth individuals. This credit card offers 5x rewards on tax payments, which is an industry first benefit and a great start for the growth of business credit cards in India, a segment that has been underserved all these years. Here is a detailed review of the card:

Fees and charges

The joining fee is usually high ₹10,000 + taxes and the annual renewal fee is similar to the joining fee, usually ₹10,000 + taxes. The joining fees can be paid on a turnover of ₹7.5 lakhs in an anniversary year. In addition, ₹1.5 lakhs in the first 90 days of card issuance to waive the joining fee for the first year.

Eligibility

Any self-employed Indian citizen between the ages of 21 and 65 and persons with an annual ITR of over ₹People aged 21 lakh and above can apply for this card.

Advantages

The membership card includes the exclusive Club Marriott annual membership and a Taj Stay voucher worth ₹ 5000 for expenses of ₹1.5 Lakhs within the first 90 days. Also get a SmartBuy Flight/ Taj Stay voucher worth ₹5000 on each ₹5 Lakhs. On all expenses except rent and petrol you will receive vouchers worth ₹ 20,000 in a calendar year on each ₹20 lakhs spent.

Rewards

This card is tailored to business professionals and high net worth individuals and offers a mix of luxury and functionality. Cardholders receive 5X bonus points on spending over ₹50,000 per billing period, limited to 7,500 reward points (equivalent to ₹56,250) which can be redeemed through HDFC Net Banking. The reward points include Amazon payment vouchers at a rate of 1 reward point = ₹0.70, subject to change, valid for 3 years.

In addition to the rewards program, the card offers premium benefits such as unlimited free access to lounges in national and international airports, complemented by a Priority Pass membership for access to over 1,000 lounges worldwide. Golf enthusiasts can look forward to up to 6 free rounds per quarter on renowned golf courses around the world.

repayment

This credit card offers a flexible and rewarding redemption program. Cardholders can initiate redemptions with a minimum of 2,500 reward points, ensuring accessibility. When redeeming points for hotel and flight bookings through Smartbuy, up to 50% of the booking value can be covered with reward points, allowing for significant savings on travel costs. There is a generous cap of 150,000 reward points per billing cycle, points remain valid for 3 years. The value of a reward point varies depending on the redemption option:

• Cashback against bank statements evaluates each reward point at ₹0.30 and offers an uncomplicated way to offset the costs.
• Bring flight and hotel bookings via Smartbuy ₹1 per reward point, ideal for frequent travelers.
• Product purchases via Netbanking and Smartbuy offer ₹0.5 per reward point, convenient for redeeming points for various items.
• For travel enthusiasts, Club Vistara and KrisFlyer offer Air Miles worth 1 Air Mile per reward point.
• Business related services and products through Netbanking and Smartbuy, such as Cleartax and Microsoft Office, are rated with ₹1 per reward point, offers added value for professional requirements.

Restrictions on rewards

This card offers a comprehensive rewards structure with certain restrictions to optimize its benefits. Cardholders can redeem up to 70% of their accumulated reward points against various rewards through HDFC online banking, while the remaining 30% can be settled through card payments.

The card also offers certain earning caps: a maximum of 5,000 bonus points per day for insurance transactions and up to 2,000 bonus points per month for grocery purchases. In addition, there is a monthly cap on earning rewards, set at 150,000 bonus points per billing cycle.

Diploma

A premium choice for business professionals and high net worth individuals, the HDFC BizBlack Metal Edition Credit Card features a luxurious metal design and comprehensive travel benefits.

While its benefits, such as 5x faster reward points on business spending, Club Marriott membership and ₹5,000 Taj vouchers are primarily aimed at larger businesses, but the card's high annual fee and strict eligibility criteria require careful consideration. In particular, cardholders enjoy unlimited free lounge access worldwide, making travel more convenient.

The card's extensive rewards program, especially in the accelerated spending categories, offers various redemption options such as cash back and product catalogs. This credit card offers significant value through its rewards and travel benefits, making it a standout option in the competitive business credit card market.

Rohit Gyanchandani is Managing Director at Nandi Nivesh Private Limited