Updated Eligibility Criteria for HDFC Bank Premium Credit Cards

HDFC Bank has updated the eligibility criteria for its premium credit cards, including the 'Infinia' and 'Diners Club Black' cards. For salaried individuals, a monthly income of ₹5 lakh is required to qualify for the 'Infinia' card, while self-employed applicants need to have an annual Income Tax Return (ITR) of ₹60 lakh. Government employees need a monthly income of ₹3.5 lakh to be eligible.

The bank explained that these ultra-premium cards are designed for individuals with high spending power to maintain a balanced cost-to-spend ratio. The updated guidelines are now in effect for all teams handling card applications.

For the 'Diners Club Black' card, salaried employees in the private sector must have a monthly income of ₹2.5 lakh, and government employees ₹1.75 lakh. Self-employed individuals need to show an ITR of ₹30 lakh. For the 'Regalia Gold' card, private sector employees must earn ₹1.5 lakh per month, while government employees need to earn ₹1 lakh. Self-employed individuals should have an ITR of ₹18 lakh to qualify. These new eligibility criteria are applicable for new applicants and will not affect existing cardholders during renewals.

While HDFC Bank has not explicitly disclosed the eligibility requirements for these premium cards, it is known that individuals with a monthly income of ₹3 lakh or an annual income of ₹36 lakh were previously considered for the 'Infinia' card. These cards, typically invitation-only, are usually reserved for customers with excellent credit scores, high incomes, and long-standing relationships with the bank. The 'Diners Club Black' card previously required a monthly income of ₹1.75 lakh for salaried individuals and an annual income of ₹21 lakh for the self-employed. The 'Regalia Gold' card had an eligibility threshold of ₹1 lakh monthly income for salaried individuals and ₹12 lakh annual income for self-employed individuals.

Income plays a significant role in determining eligibility for credit cards, as it ensures the applicant can repay the borrowed credit. Self-employed individuals may need to provide their latest ITR as proof of income.

Super-premium credit cards like these offer a range of perks, such as higher credit limits, discounts on dining, airport lounge access, and more reward points on spending. Additionally, they often feature lower interest rates, with 1.99% per month (23.88% annually) charged on outstanding balances, compared to the 3.75% per month (45% annually) charged by regular cards.

In a previous update, HDFC Bank highlighted that an individual earning ₹1 lakh per month could be eligible for the Regalia Gold card, while someone earning ₹25,000 per month could qualify for the MoneyBack+ credit card.