Save on Foreign Transactions with HDFC Global Value Program (GVP)
HDFC Global Value Program: HDFC Bank Infinia or Diners Club Black credit cardholder can opt in for GVP and enjoy additional savings of 1% on international spends. This value-added service enhances your international transactions with cashback, travel vouchers, and more. Here’s everything you need to know about the program, from benefits to activation and why it’s a must-have for frequent travelers:
Table of Contents
What is the Global Value Program (GVP)?
The Global Value Program is an exclusive add-on for HDFC Bank’s super-premium credit cards that offers additional rewards and cashback on international spends. By enrolling in this program, you can maximize the value of your international transactions, making it an excellent option for those who frequently travel or shop overseas.
Key Benefits of the Global Value Program
- Cashback on International Spends:
- Earn 1% cashback on all international transactions (both online and PoS) up to Rs 1,000 per statement cycle.
- Milestone Benefit:
- Receive a Rs 2,000 voucher for MakeMyTrip, ClearTrip, Yatra, or Ease My Trip when you spend Rs 1.5 lakh internationally within a year from the date of activation or renewal.
- Welcome Benefit:
- Get 500 bonus Reward Points on your first international transaction after activating the GVP. This is a one-time bonus and will not be awarded upon renewal.
The standard earn rate on Diners Black and Infinia is 3.3%
Forex charge on these cards is 2% + 18% GST ie 2.36%
The enhanced 1% cashback will allow to earn effective reward rate of 1.94% on international transactions. (3.3% – 2.36% + 1%)
Fees and Charges
- Joining Fee: Rs 199 + GST
- Annual Fee: Rs 199 + GST (auto-renewal)
- Welcome Benefit: 500 Reward Points on the first international transaction.
Offer link: Deals (hdfcbank.com)
How to Activate the Global Value Program?
Activating GVP is simple and can be done through HDFC Bank’s customer care via email or phone.
- Email Activation: Send an email with the below details to HDFC Bank email address:
- Customer Name
- Email ID
- Mobile No.
- Program to be enabled – GVP
- Phone Activation: Call HDFC customer care and request the activation of the Global Value Program for your card.
Eligibility and Qualifying Transactions
- Eligible Transactions: All transactions made in international currency, including both PoS and online payments.
- Non-Eligible Transactions: Direct Currency Conversion (DCC) transactions where payment is made in INR are not eligible for rewards.
Illustrations of How Benefits Work
- Scenario 1: Mr. ABC makes two international transactions of Rs. 50,000 and Rs. 30,000 in a statement cycle. He earns a 1% cashback of Rs. 800.
- Scenario 2: Mr. ABC makes three international transactions of Rs. 50,000, Rs. 30,000, and Rs. 40,000. He earns the maximum cashback of Rs. 1,000 in that cycle.
- Scenario 3: Mr. ABC spends Rs. 1,50,000 in international transactions over 12 months. He earns the 1% cashback on each cycle and receives a Rs. 2,000 travel voucher.
Conclusion
In my opinion, HDFC Banks’s GVP is an excellent offer for its super premium credit card holders and will promote the use of these cards internationally. You can use your free forex cards to accompany these cards when you reach the monthly limit on this.
FAQs
What cards are eligible for the Global Value Program?
Only Infinia and Diners Club Black are eligible to enroll in the Global Value Program.
Are there any restrictions on the type of international transactions that qualify?
Yes, only transactions made in foreign currency qualify. Transactions involving Direct Currency Conversion (DCC) where payment is made in INR are not eligible.
Is there an option to deactivate the program?
Yes, you can deactivate the GVP by contacting HDFC customer care. However, reactivating the program will not make you eligible for the welcome benefit again.
