Just like HDFC credit card promos for Dhanteras 2018 and Dhanteras 2019, this year too HDFC Bank has come up with similar Bonus reward points and cashback offer for spends on Jewellery during Dhanteras on HDFC Bank Credit & Debit cards. Here’s a quick look into the offer just incase if you’ve missed it:
- HDFC Credit Card Offer: 4,000 Reward Points on Credit Cards, Min. Transaction: INR 40,000
- HDFC Debit card Offer: INR 500 CashBack with Debit Cards, Min. Transaction ₹30,000
- Offer Period: 06th Nov – 13rd Nov 2020
- Offer Source
This is a very good offer and nets you about 10% savings on your Jewellery spends if you hold super premium credit cards like HDFC Infinia or HDFC Diners Black.
Yet, as you can see, HDFC has trimmed the benefits a lot in last three years on Dhanteras Promo. For ex, in 2018 the return on spend was 33% and in 2019 it was 16.5% and now in 2020 its mere 10% return.
While the return on spend is not great as before its still good to avail for those who anyway intend to spend.
While its good to see HDFC Bank consistently run Dhanteras Promo every year on credit and debit cards, its sad to see the value going down every year.
Anyway, other banks are not caring much for Dhanteras, so something is better than nothing 😀
However, apart from this, there are no spend linked offers from HDFC. I miss those Happy Hours 2018 promo and those targeted spend based offers this 2020.
Its completely dry from HDFC this year in that aspect. But worry not, Axis is shining bright with nice 3X rewards on premium cards.
thala Sid do you use Credit Card for wallet reload now days?
A question on the Promo emails: earlier when I go the credit card, I was naive & unsubscribed from the offer emails from HDFC. I get only the statements and nothing else. How do I re-subscribe?
I know I’m asking for more spam, but I believe there will be some good rewards hidden in them.
Mail the relevant CC customer care, they reply in 1-2 days for confirmation, after that you start receiving mails.
Not applicable on gold coins or biscuits.
How will they actually confirm if spend is on Gold Coin or Jewellery itself ? Same merchant is selling both.
How do they determine from the bill whether the purchase was for gold coins/bars?
I dont think there is a standard way to segregate this at most jewelers. Perhaps trying luck as I head out for buying gold coin maybe?
Thanks Sid. I prefer to invest in digital gold (SAFEGOLD) through Phonepe… You get 5% cashback (up to Rs. 2500) on phonepe plus 3.33% reward points on your card.
Just checked. The cost of gold on phonepe is quite higher compared to physical gold coins from Flipkart/Amazon even after you adjust for the cashback.
Digital gold prices are normally more than market prices. Also, there is ~3% spread between buy and sell. Per me, even after 5% +3.3%, one will at best end up at market price or slightly higher. Let me know if I’m wrong. Thanks
At this moment (12pm on 11th Nov)
Price on Safegold website 24k = 5206
Price on PhonePe (safegold) 24k = 5368.72
Price on PhonePe (MMTC/PAMP) 24k = 5370.99
Price on Paytm (MMTC/PAMP) 24k = 5215.41
So, as you can see the spreads. Not sure of the right source for market price but seems like it is between 5200 and 5300..
Have you purchased on PhonePe? If Yes then have u received cashback. It says Cashback as PhonePay voucher, will it be applicable for any purchase via PhonePe?
Also 2500 cashback limit is per transaction or per user account?
How do you get 5% cashback ? And Phonepe is all UPI, how do you get CC points ?
This works for HDFC offer? any charges for redemption to physical gold?
How do u manage 5% cashback ?
You also lose 3% in GST and ~5% buy-sell spread is there. It’s not a great investment. Look into Sovereign gold bonds (SGB) which are much better option for investment into gold.
Don’t get excited over it; they’ll recover the “cashback” along with interest over due course of time :p
HDFC is only fooling people. I had spent in the May 2019 Jewellery 5x offer at Tanishq.
At that time, there was no restriction on Jewellery spend at Tanishq not being applicable for 5x RPs.
However, they did not post the reward points and kept citing me T&C for Oct 2019 offer (even though my transaction was for May 2019).
I took it up to Nodal officer and even up to Ombudsman and they insisted that Oct 2019 T&C was applicable to May 2019 offer also – talk of time travel.
The amazing part is Ombudsman closed my complaint based on HDFC’s stupid reply and I can’t appeal against it.
Will we get regular points of 5 pts per ₹ 150 in addition apart from 4K points on ₹ 40k ?
Sid how can one subscribe for hdfc bank offers.?
I am not getting any personalized spend based offers mail or sms.
Though did received amazon voucher for oct promo spend promo that I am unaware of.
Also received sms of some amazon gift voucher expiring (must be from last year promo).
How can I be sure that the Jewellery that I am purchasing online/offline using HDFC DIners Black card (or other HDFC cards) will reflect in HDFC records as a Jewellery order and not something else ?
If it reflects as something else, HDFC will not credit these 4000 points.
@ Sid / others : Pls. reply to my above question about how to be sure that an online/offline purchase is sure-shot considered by HDFC as Jewellery order.
For anyone reward points got credited? or when it will be credited.
It’s very hard to track and also couldn’t able to connect with customer care.