Designed largely for frequent Swiggy users (and to further build the loyalty base), the Swiggy HDFC Bank Credit Card stands out for 2 reasons – the generous 10% cashback it offers across Swiggy platforms, including food delivery, Instamart, Dine Out and Genie. Second, the additional 5% cashback across multiple online platforms, plus the 1% cashback on offline and other spends. For an annual fee of Rs 500, we’d have to say the Swiggy HDFC Bank Credit Card does punch above its weight. Here is our review of the Swiggy HDFC Credit Card.
Swiggy HDFC Bank Credit Card ★★★ (3.5/5) |
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| Welcome Bonus | ★★★ (3/5) |
| Annual Fee | ★★★ (3/5) |
| Cashback Benefits | ★★★ (3.5/5) |
| Co-branded Benefits | ★★★★ (4.5/5) |
The card is a good option for those who transact on Swiggy frequently, and spend significant amounts on the brand’s platforms every month. For instance, those who use Instamart for monthly staples and groceries or use food delivery services several times a month, can easily recover the Rs. 500 annual fee and also earn decent cashback. If you spend Rs. 15,000 every month on Swiggy platforms, you can earn an annual cashback of Rs. 18,000 from Swiggy platforms alone. This cashback, which was earlier earned in the form of Swiggy Money that could be further used on Swiggy platforms, is now auto-redeemed against the outstanding card dues for the next month.
But if you are not a big Swiggy user, this card also provides 5% cashback on other online and 1% back on offline purchases. This makes this card a strong competitor for general cashback credit cards, like Cashback SBI and Axis Ace.
Swiggy promotes the card, saying one can earn cashback of up to Rs. 42,000 per year – little doubt, a significant amount. But you should note that to earn Rs. 42,000 yearly or Rs. 3,500 of monthly cashback (Rs. 1,500 on Swiggy platforms + Rs. 1,500 on other online platforms + Rs. 500 on others), you would have to spend Rs. 90,000 (Rs. 15,000 on Swiggy platforms, Rs. 30,000 on other online platforms + Rs. 50,000 on other spends) through the Swiggy HDFC Card. If you are spending almost a lakh every month, our view is you should consider more premium cards. But if reaching the capped cashback limits is not your goal, then this card can be considered as it gives significant cashback savings.
Video: Quick Review of Swiggy HDFC Credit Card
Note: Details mentioned in the video have been sourced from the issuer’s website as of May 2024. For updated information, refer to this page.
Swiggy HDFC Credit Card- Features and Benefits
Activation Gift: Complimentary 3 months Swiggy One membership on card activation.
10% Swiggy Cashback: You get 10% cashback (with monthly capping of up to Rs. 1,500) on the Swiggy app for transactions related to food ordering, Instamart, Dineout and Genie. However, transactions made via Swiggy Money Wallet, Liquor and Minis will not accrue the 10% accelerated cashback on this HDFC bank credit card.
| Minimum Transaction Amount to Earn Cashback = Rs. 100 |
5% Cashback: On online spends across top brands across various categories with monthly capping of up to Rs. 1,500. Click here to check the list of the eligible shopping categories and their respective MCCs.
1% Cashback: On all other category spends, including offline transactions, with monthly capping of up to Rs. 500.
| Excluded spending categories for cashback earning on HDFC Swiggy Credit Card: Fuel, rent, EMIs, jewellery, wallet, government-related transactions, Swiggy Money wallet, Swiggy Minis and Swiggy Liquor. |
Suggested Read: Best Cashback Credit Cards in India
Cashback Redemption
The cashback earned on the eligible transactions via HDFC Bank Swiggy Credit Card is now credited against the outstanding amount due, except any financial charges you might have accrued. Though earlier it used to be credited as Swiggy Money which might have been limiting for some users as it could only be utilised for food delivery order on Swiggy along with Instamart, Dineout and Genie. This change in redemption options is a welcome update as you are no longer restricted to any one app for redemption.
Swiggy Money Validity: 1 year from the date of earning
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Other Benefits on Swiggy HDFC Bank Credit Card
Renewal Fee Waiver: Card renewal or annual fee is waived off on reaching the yearly spends of Rs. 2 lakh before the card renewal date. However, the transactions made via Cash on Call, cash withdrawal and balance transfer are excluded from the total annual spends calculation for annual fee waiver.
Golf Benefits via Mastercard: 4 complimentary rounds of green fees and 12 free golf lessons/sessions with 50% off on green fee beyond complimentary sessions for users with Mastercard variant.
Zero Lost Card Liability: If you lose your Swiggy credit card and report the loss immediately, then you can avail the facility of zero liability on fraudulent transactions made via that card. To report you can contact the 24-hour HDFC Bank call centre.
Comparison: Swiggy HDFC Vs. ICICI Amazon Pay Vs. Axis Flipkart
Since, Swiggy HDFC Credit Card comes with substantial cashback, let us compare its features with other credit cards, like Amazon Pay ICICI and Flipkart Axis Bank Credit Cards, with similar cashback and co-branded benefits.
| Parameters | HDFC Swiggy | ICICI Amazon Pay | Axis Flipkart |
| Annual Fee | Rs. 500 | Nil | Rs. 500 |
| Fee Waiver | On Rs. 2 lakh annual spends | NA | On Rs. 2 lakh annual spends |
| Welcome Benefits | 3 months Swiggy One membership | NA | Save Up to Rs. 1,100 on Flipkart, Myntra & Swiggy combined |
| Base Cashback Rate | 1% up to Rs. 500 p.m. | 1% | 1.5% |
| Accelerated Cashback | • 10% up to Rs. 1,500 p.m. on Swiggy • 5% up to Rs. 1,500 p.m. on online spends |
• 5% on Amazon by Prime members • 3% on Amazon by non-Prime members • 2% on Amazon Pay partner merchants |
• 5% on Flipkart • 4% on preferred merchants |
| Other Benefits | Nil | Up to 15% off on dining at partner restaurants | • 4 domestic airport lounge visits per year • Up to 20% off at partner restaurants |
| Form of Cashback Redemption | As statement credit | As Amazon Pay balance | As statement credit |
Should You Get This Card?
With the discontinuation of RBL Bank Zomato Edition Classic Credit Card, the Swiggy HDFC card can be a good fit for those looking for savings on their food delivery and other food spends. The card’s accelerated cashback of 5% on other online spends across popular brands, like Myntra, Amazon, Flipkart, BookMyShow, Nykaa, Uber, Ola etc. is also a great feature, especially for a card with a Rs. 500 annual fee.
Due to the capping on category-wise cashback, one can only earn Rs. 3,500 as cashback in a month, which may be too low to attract certain consumers. Those who have previously held the (now discontinued) RBL Zomato Edition Classic Credit Card may not be too inclined to take this card, as the Zomato card provided cashback on food delivery and dinning on Zomato without any monthly capping.
You should consider applying for Swiggy HDFC Bank Credit Card if:
- You frequently dine at restaurants or order food and other products online from Swiggy and other popular brands
- You prefer to get cashback over reward points
- You are a high-spender when it comes to food or online spends so as to maximise your savings as cashback