HDFC Bank Makes Cashback Structure Changes On 2 Credit Cards Effective 1st Aug

With effect from August 1, 2024, HDFC Bank is going to change the cashback pattern on Tata Neu Infinity and Tata Neu Plus credit cards for users who make payments via the Unified Payments Interface (UPI). Beginning August 1, 2024, eligible UPI transactions conducted with a Tata Neu UPI ID will generate 1.5% NeuCoins as cashback for cardholders of the Tata Neu Infinity HDFC Bank Credit Card, while eligible transactions made with other UPI IDs, including Paytm, PhonePe, and Cred, will yield 0.50% NeuCoins.

On the other hand, while using a Tata Neu UPI ID to make eligible UPI transactions, the Tata Neu Plus HDFC Bank Credit Card is going to receive 1% NeuCoins, and when using other eligible UPI IDs, it will accumulate 0.25% NeuCoins for the cardholders. There will be a monthly cap of 500 NeuCoins on the total number of NeuCoins earned on all UPI payments. By utilising your Tata Neu UPI ID, you can get an additional 0.75% for eligible UPI payments back as NeuCoins. With effect from August 1, 2024, additional NeuCoins on Tata Neu UPI payments will be issued straight to your Tata Neu Account, according to HDFC Bank.

On account of validity of NeuCoins, HDFC Bank has mentioned on its website that, "Your NeuCoins expire 365 days after your last transaction involving an eligible earn or use of NeuCoins (even if it's just one NeuCoin earned or used). During special promotions, you might also earn additional NeuCoins. The expiry of these NeuCoins will be mentioned at the time of issuance."

"NeuCoins are the rewards a customer earns when transacting on the Tata Neu app, website, or at any brand stores or hotels. They can then redeem these NeuCoins when making future purchases. 1 NeuCoin is worth Rs 1, and there are no limits to how many one can earn or use," according to Tata Group website.

"Tata Neu enables users to earn rewards on all credit card spends, as well as get instant access to funds like personal loans and credit lines. It also allows them to protect their assets and grow their wealth with custom insurance plans created specifically for them. Paying bills has never been easier. Users can also send money to friends, family members or any of their contacts directly to their bank accounts, using Tata Pay UPI," Tata Group website says.