Our Verdict
Regalia is a premium point-based credit card, which used to be HDFC’s best premium card for a long period of time before the launch of their other products like the Diner Black Credit Card. Regalia still remains significant as it is cheaper than other premium cards and provides more or less all the facilities that the bank’s other cards provide in a comparatively limited manner.
This premium credit card is ideal for people who travel by air, do online shopping (preferably via foreign websites given foreign currency markup benefits) and like to dine outside.
HDFC Regalia Credit Card
Annual Fee
INR 1000 + Taxes
Cashback
Up to 5% cashback on travel and shopping spends
Dining Delights
Up to 35% discounts under the Dineout Membership program at premium restaurants
Annual Fee
INR 1000 + Taxes
Cashback
Up to 5% cashback on travel and shopping spends
Dining Delights
Up to 35% discounts under the Dineout Membership program at premium restaurants
- This card has the lowest foreign currency markup, which is 2%, lower than many other cards in the market that have a foreign currency markup range of 3% to 3.5%.
- Reward Points can be used to book train tickets and make purchases on websites such as Amazon, Flipkart, Redbus, etc. Multiple offers are rolled from time to time, which can be a good catch for users who can use them as per your requirement.
- Features like emergency overseas hospitalization is a plus.
- Reward Points are given only on retail spending.
- You cannot make EMIs on the purchase of gold or any kind of jewelry.
- The Dineout Passport Membership card covers only a select few cities in India making it a limited service.
Features of HDFC Regalia Credit Card
On the use of this credit card, users earn points that make the card valuable and serve as the primary function of the credit card. Its additional features are interesting as well and help make a strong case for the card to be a must-have for those who like to use their credit card for multiple purchases.
- Joining fees: The joining fee of INR 2,500 is a little expensive in comparison to other cards but if compared to a premium card it is still economical. The good thing is that the user gets 2500 reward points on paying the annual fee and each reward point is worth 50 paise—this is equivalent to half the price of the annual fee.
- Eligibility: This credit card is for Indian nationals. For the salaried, the age limit is between 21 years and 60 years with a net monthly income of INR 70,000. For self-employed, it is between 21 and maximum 65 years with a net income of INR 8.4 lakh per annum.
- How to Apply: You can apply for this credit card online or by visiting any of the HDFC Bank’s branches. You’ll need documents including income proof, address proof and identity proof for the bank to evaluate your eligibility.
- Annual Fee and Way to Fully Recover Investment on Fee: You can get a full waiver on the annual fee on a spend of INR 3 lakh. This required expenditure amount is a bit steep and it is possible not many users would be willing to spend that amount. That’s why this card is more useful for people who want to make expensive purchases such as buying a car or something similar costing above INR 3 lakh.
- Dining Benefits: One of the most attractive features of every premium credit card is the kind of dining benefits it provides to its customers, and for this purpose, Regalia has a tie-up with dining out and restaurant tech solutions platform Dineout. The tie up enables users to get a complimentary Dineout Passport Membership, which is a premium dining membership program that gives handsome discounts at their more than 2000-member restaurants in around 20 cities in India. You will have to check if the choice of the city you want to use the card in is a part of Dineout member restaurants.
- Lounge Visits: 12 complimentary airport lounge accesses within India and six outside. One airport lounge visit costs around INR 2,000 in India. The list of airport lounges to access this facility covers more or less all major airports. There is a facility of priority pass for which you can apply for yourself and add-on members as well after four retail transactions. With this pass, you and your add-on member can avail six lounge visits in total outside India. Other competing credit cards also provide this feature.
- Bonus Points on Purchase: Purchase can be considered to be the basic function of a credit card and reward points on that is what people look for.
- You can earn four reward points on every INR 150 spent.
- There are 10,000 reward points on a spend of INR 5 lakh.
- An additional 5,000 reward points on spending INR 8 lakh in an anniversary year. Not many people will be able to spend this much but this can be done if you are purchasing a car or another expensive product.
- Four Reward Points on spending INR 150 spent on all retail spends including insurance, utilities, education and rental payments.
- 10,000 Reward Points on annual spends of INR 5 lakh.
- Additional 5,000 Reward Points on annual spends of INR 8 lakh.
Ways to Redeem HDFC Regalia Credit Card Points
These points can be redeemed on SmartBuy or Netbanking.
SmartBuy is a platform that displays offers of various products from different companies in partnership with HDFC Bank for the bank’s customers. Netbanking refers to online banking, which is an electronic payment system used to transfer funds to another bank account or checking the transaction statements, making payments, among other things.
Following is the value of these Reward Points (RP):
- For booking hotels or flights via Smartbuy: 1RP = 0.5 paise
- For air miles conversion through Netbanking the rate is: 1RP = 0.5 air mile
- For products and vouchers via Netbanking and Smartbuy: 1RP = 0.5 paise
Cashback Value: 20 paise
Smart EMIs (Equated Monthly Instalments): This facility is available with conditions on expensive purchases except gold and jewelry. The bank charges an interest rate.
Additional Features of HDFC Regalia Credit Card
- Zero Cost Liability: In case you lose your Regalia Credit Card and you report it immediately to the company’s 24-hour call centre, you have zero liability on any fraudulent transactions made on your credit card as this is covered by insurance.
- Foreign Currency Markup: It is a charge by the credit card company when you make payments in a foreign currency using your card. This markup is 2%, which is comparatively low compared with other cards as it is around 3.5% for other companies.
- Revolving Credit: Revolving balances incur an interest rate of 43.2% annually as of 9/22/2021. This rate is subject to change.
- Concierge: There is always someone available to talk to you on the phone (24/7) regarding your queries.
- Fuel Surcharge Waiver: 1% fuel surcharge waiver at all fuel stations across India on minimum transaction of INR 400 and maximum transaction of INR 5,000. This feature is not unique to HDFC Regalia Credit Card; instead it is available with more or less all the cards in the premium category.
Insurance:
- Accidental air death cover: INR 1 crore
- Emergency overseas hospitalization: up to INR 15 lakh
- Lost card liability cover: Up to INR 9 lakh
The emergency overseas hospitalization amount is good and people travelling abroad can carry their credit cards with them. The requisite to avail the air accident death cover is to book your travel ticket with the credit providing you that cover.