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Swiggy HDFC Bank Credit Card has revised its cashback structure: Here’s what’s new

On June 21, cashback earned on Swiggy will appear on the credit card statement instead of Swiggy Money.

By Newsd
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Swiggy HDFC Bank Credit Card has revised its cashback structure

One bank, Swiggy’s HDFC Bank credit card, has revised its cashback structure in favor of credit card holders when most banks are devaluing credit card rewards and benefits.

Benefits of cashback have been revised

On June 21, cashback earned on Swiggy will appear on the credit card statement instead of Swiggy Money.

In other words, the cashback will reduce the statement balance for the next month as a result of the cashback.

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

As an example, if your statement is generated on the 21st of every month, the cashback earned for the previous month will appear in your statement and reduce your repayment amount.

“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.

The Swiggy app will continue to show your cashback earned until June 20.

Rewards remain the same

Users will still earn 10 percent cashback on the Swiggy app, 5 percent cashback on online purchases, and 1 percent cashback on other purchases.

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

Validity

As Swiggy Money is valid for a year, users have one year to redeem their Swiggy Money balance after June 21.

Also Read: HDFC Bank gets RBI nod to acquire up to 9.5% stake in ICICI Bank, 5 others

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