In the world of credit cards, today’s plastic money mode, though the options to choose from are practically abundant. However, picking the right card that encompasses all your needs under one roof may seem like a heavy-duty task.
The HDFC Regalia Gold has emerged as one of the most desired premium credit cards in India with a great balance of reward, travel and lifetime benefits. There are, however, a number of competitive substitutes too, which pose a threat to its formidable position.
This article analyses the major benefits offered by HDFC Regalia Gold and its current top three competitors: SBI Card PRIME, ICICI Bank Sapphiro, and Axis Bank SELECT.
HDFC Regalia Gold: Features and Benefits
- Annual Fees and Charges: The card has an initial and annual fee of INR 2500 + GST. This renewal fee is not charged in the event of INR 4 lakh or more expenditure in a calendar year. Its foreign currency markup is 2%, making it competitive for international use.
- Reward Structure: Each INR 150 spent to make retail purchases will earn the cardholder 4 reward points. The card will provide an increased 5X reward points (20 reward points per 150) on purchases at partner merchants, such as Nykaa, Myntra, Marks and Spencer and Reliance Digital.
- Welcome Benefits: New cardholders will be given INR 2500 gift voucher when they pay the joining fee. Moreover, INR 1 lakh spending in the initial 90 days of card issuance is accompanied by a free Swiggy One and MMT Black Elite membership.
- Travel Benefits: The card will allow 12 domestic airport lounge visits each year and 6 international lounge visits via the Priority Pass membership, making it a highly lucrative option amongst the existing credit cards.
- Milestone Benefits: Quarterly milestone benefits will consist of INR 1500 worth of vouchers on spending 1.5 lakh per quarter. Annual milestones will provide INR 5000 worth of flight vouchers on 5 lakhs spending and additional INR 5000 flight vouchers on 7.5 lakh.
- Insurance cover: The card is fully insured with a 1 crore air accident cover purchase cover and no lost card liability under immediate reporting.
Competing Credit Cards:
There are three major rival banks that offer a credit card variant, which can compete on par with HDFC Regalia Gold – SBI Card PRIME, ICICI Bank Sapphiro, and Axis Bank SELECT.
1. SBI Card PRIME
The SBI Card PRIME has been placed as a high-end lifestyle credit card with exclusive travel and dining benefits. Its value is right up the alley, on par with the competing Regalia Gold.
- Fees and Charges: The card fee has a joining fee of INR 2999 + GST and the same annual fee which is waived in case of spending INR 3 lakh per year. The markup of the foreign currency is higher, around 3.5%.
- Reward Structure: Cardholders receive 2 reward points on regular spends of INR 100 and 10 reward points on dining, groceries, departmental stores and movies. During birthdays, the user will be rewarded 20 reward points per INR 100 spent.
- Travel Benefits: This card is accompanied with 8 domestic lounge visits (2 per quarter) and 4 international lounge visits using the Priority Pass membership. It contains a 1% fuel surcharge waiver to a maximum of INR 250 per month.
- Unique Features: SBI card PRIME offers 50% discount on golf games and 25% discount via American Express Dining Platform.
2. ICICI Bank Sapphiro
The ICICI Bank Sapphiro is aimed at the people who make high expenditures on travel and lifestyle benefits.
- Fees and Charges: The card comes with a joining fee of INR 6500 + GST and an annual fee of INR 3500 + GST. The renewal fee is exempt on an annual expenditure of INR 6 lakhs. The foreign currency markup is higher than HDFC Regalia Gold, similar to SBI Prime – 3.5%.
- Reward Structure: 2 reward points are earned for every 100 rupees spent domestically and 4 reward points are earned on every 100 rupees spent on international transactions. The milestone program provides 4,000 points on 4 lakhs worth spending per year, and 2000 points on every subsequent 1 lakh that follows through.
- Travel Benefits: The card includes a whopping 16 domestic lounge visits per year and 2 international lounge visits. The domestic cover is high, though the number of international accesses is limited, making it a perfect choice for individuals who have frequent domestic travel due to work or leisure.
- Welcome Benefits: New cardholders will obtain INR 13000 worth shopping and travel vouchers, which is more than the amount of the joining fee.
- Additional Benefits: Up to 4 golf rounds per month complimentarily on spending INR 50,000 in retail purchases the previous month. This benefit may seem far-fetched but spending the given amount is not a big task for individuals with high retail spends.
3. Axis Bank SELECT
The Axis Bank SELECT targets retail-oriented spenders who have high shopping and dining benefits-
- Fees and Charges: The card has a joining fee of 3000 rupees and an equal annual fee, but it is free to the Burgundy customers. Spending INR 8 lakh per year makes you exempted from the renewal fee. The foreign currency markup is higher than Regalia and similar to other two brands 3.5%.
- Reward Structure: Cardholders get 10 EDGE points on every 200 and 20 EDGE points on every 200 they spend on retail purchases up to 20,000 each month. Redemption value is about 0.20 per point.
- Travel Benefits: The card comes with 12 international lounge visits with Priority Pass membership in addition to 2 domestic lounge visits in a quarter (subject to 50,000 quarterly spend).
- Welcome Benefits: New cardholders will earn 10,000 EDGE points of 2,000 in the first transaction.
- Other Perks: The card will come with 6 free golf rounds per year, a waiver of 1 percent fuel surcharge on purchases between 400- 4, 000 INR, and dining discounts under the Axis Dining Delights program.
Despite the comparison of benefits and privileges offered by the currently top-rated credit cards in India, HDFC Regalia Gold comes out as the most balanced option amongst all its competitors, courtesy the low annual fee, high reward rate, and attractive foreign exchange rates. Its all-inclusive travel advantages and milestone benefits make it an ideal pick for both travellers and day-to-day spenders.
- Select SBI Card PRIME is the perfect fit when you like dining and grocery rewards, as its 5X points structure offers the best value to these categories.
- Select ICICI Bank Sapphiro is suitable when you are a considerably high spender and can justify the higher charges with the help of domestic travelling widely and using premium lifestyle advantages.
- Axis Bank SELECT is the preferred choice if you are a shopping enthusiast who appreciates access to international lounges and can take complete advantage of the 2X retail rewards program.
However, despite the detailed comparison, the HDFC Regalia Gold Credit Card continues to maintain its competitiveness with a winning mix of low charges, high rewards and extensive benefits – being the best in the premium credit card market in India.