Millennia Vs Easy EMI Card- How Do They Compare?

The youth in today’s world have very different aspirations than their previous generations. Living life to the fullest and making the most of every moment, calls for different spending patterns and financial habits.

To encourage these people to live their dreams, HDFC Bank has introduced Millennia Credit Card and EasyEMI Credit Card.  In this blog, we will explore their details. 

What Is HDFC Millennia Credit Card?

HDFC Bank has introduced a credit card, especially for millennials who prefer to live their lives making memories. They focus on making the most of every moment and the HDFC Millennia Credit Card helps them to do so. 

Features of HDFC Millennia Credit Card

Let us look at the features of Millennia Cards: 

• You can avail 5% cashback on BookMyShow, Amazon, Flipkart, Cult.fit, Myntra, Swiggy, Sony LIV, Uber, Zomato and Tata Cliq.
• If you spend ₹1,00,000 or above in every calendar quarter, you can receive gift vouchers worth ₹1,000.
• You will receive 1,000 cash points after you pay the membership fee. 
• Get 1% cashback on every other spend including wallet transactions and EMI. But, this feature will not be available on fuel. 
• Upto 20% discount on partner restaurants via Dine Out.
• Get 8 complimentary airport lounge access in India in a financial year (2 in a quarter). 
• You can avail 1% fuel surcharge waiver at every fuel station all over India. While the minimum transaction has to be ₹400, the maximum amount is set at ₹5,000. The amount for maximum waiver is set at ₹250 per statement cycle. 
• Joining/Renewal Fees: ₹ 1,000/- + Applicable Taxes. Spend ₹ 1,00,000 or more in a year, before your Credit Card renewal date and get your renewal fee waived off .

Eligibility Criteria for HDFC Millennia Credit Card 

Detailed below are the eligibility criteria for availing this credit card: 

• Salaried applicants must be Indian nationals between 21 years and 40 years and their gross monthly income should be a minimum of ₹35,000. 
• Self-employed applicants must be Indian nationals between 21 years and 40 years with a minimum income of ₹6 lakh per annum. 

What Is the HDFC EasyEMI Credit Card? 

HDFC EasyEMI Credit Card is an entry-level cashback-based credit card. The most unique feature of this credit card is that it automatically converts every purchase exceeding ₹10,000 to EMIs for 9 months. All its features will be discussed in detail, below. 

Features of HDFC EasyEMI Credit Card 

Let us take a detailed look at its features: 

• For wallet reloads and offline spends, you can receive a 1% CashBack (Minimum transaction size of ₹100, maximum CashBack = ₹750 / calendar month). 
• You can receive 2.5% cashback for all online spending but ₹2,000 has to be the minimum transaction size. The maximum cashback you will receive is ₹750 per calendar month. 
• 5% cashback on Flipkart, Amazon, hotel and flight bookings and on shopping via SmartBuy and PayZapp. But, the size of the minimum transaction has to be ₹2,000 (Max ₹1000 CashBack per calendar month in first 6 months, Max ₹ 750 CashBack post 6 months from card issuance). 
• As already mentioned, every purchase of ₹10,000 or more is automatically converted to EasyEMI for 9 months. Keep in mind that a processing fee of ₹99 + GST and RoI of 1.67% per month will be applicable. 
• An important point you need to keep in mind is that auto-conversion is not applicable for transactions relating to fuel, gold and jewellery. The processing of auto EMI conversion will take place only after 5 business days from the date of the transaction.
• Joining/Renewal Fees: ₹ 500/- + Applicable Taxes (joining fee is waived if the cardholder spends a minimum ₹20,000 in the first 90 days of card membership). Spend ₹ 50,000 or more in a year, before your Credit Card renewal date and get your renewal fee waived off .

Eligibility Criteria for HDFC EasyEMI Credit Card 

Discussed below are the eligibility criteria: 

• Salaried applicants need to be Indian nationals between 21 years and 60 years with a monthly income of a minimum ₹10,000. 
• Self-employed applicants need to be between 21 years and 65 years and must have an income of a minimum ₹6 lakh per annum. 

HDFC Millennia Vs HDFC EasyEMI Credit Card

Check the following table to go through the differences and important points between these two credit cards: 

Final Words

In conclusion, it can be said that HDFC Millennia Credit Card is an excellent option for new-to-credit young professionals and first-time cardholders because of its multiple benefits. However, HDFC EasyEMI Credit Card offers the unique benefit of automatic conversion of purchases above ₹10,000 into EMIs. This feature makes it a good option for applicants in the lower-income category. 

Frequently Asked Questions