Swiggy HDFC Bank Credit Card revises cashback structure: Here are the details

Swiggy HDFC Bank Credit Card revises its cashback benefit

When most banks are devaluing credit card rewards and benefits, there is one that has revised the cashback structure in favour of credit card holders. That card is Swiggy’s HDFC Bank credit card. The revised cashback structure is effective from June 21.

Revised cashback benefits

From June 21, any cashback earned will be reflected in the credit card statement rather than appear as Swiggy Money on the Swiggy app. This means the cashback will reduce the statement balance for the next month.

“The cashback on the credit card is now looking good,” says Sumanta Mandal, founder of TechnoFino, a platform that reviews debit and credit cards.

For instance, if your statement is generated on the 21st of each month, the cashback earned over the previous month will appear in your statement and reduce the amount you have to repay.

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“These changes are made to help you keep track of your finances more easily and use your cashback more efficiently,” an HDFC Bank spokesperson said.

Remember, until June 20, your cashback earned will continue to reflect on your Swiggy app.

No change in rewards

The users will continue to earn 10 percent cashback on the Swiggy app, 5 percent cashback on online spending, and 1 percent cashback on other categories.

“However, the users will get this cashback as pure cash adjusted in the subsequent monthly statement, which is really amazing,” says Mandal.

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Validity

The cashback credited as Swiggy Money on the Swiggy app is valid for one year. So, after June 21, users have one year to redeem the balance available as Swiggy Money while spending through the app.