HDFC Bank has informed its Tata Neu Infinity credit card customers through mail regarding the change in Neucoins that will be issued on UPI transactions. The change is effective from August 1, 2024.
“NeuCoins are the rewards a customer earns when transacting on the Tata Neu app, website, or at any brand stores or hotels. They can then redeem these NeuCoins when making future purchases. 1 NeuCoin is worth Rs 1, and there are no limits to how many one can earn or use,” according to the Tata Group website.
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Here is a look at changes that will come into effect for the Tata Neu Infinity HDFC Bank Credit Card from August 1, 2024, as per FAQs posted on the bank’s website.
What is changing in the Tata Neu Infinity HDFC Bank Credit Card UPI rewards program?
• Starting 01 August 2024, customers will earn 0.5% back as NeuCoins on eligible UPI transactions.
• Additionally, if you use Tata Neu UPI ID for the transaction, you will get extra 1% back as NeuCoins.
• The total monthly NeuCoins on eligible UPI transactions are capped at 500 NeuCoins.
Are there any restrictions on the types of transactions eligible for UPI rewards?
- Fuel Spends o Wallet loads / Gift or Prepaid Card load/ Voucher purchase
- Cash Advances
- Payment of Outstanding Balances
- Payment of card fees and other charges
- Smart EMI / Dial an EMI transaction o With effect from 1st Jan 2023
- NeuCoins will not be accrued for Rental and Government related transactions.
NeuCoins Redemption:
- You can use your NeuCoins for purchases on Tata Neu /Website for Brands like:
- Air India Express
- Bigbasket
- Croma, Westside.
- Tata CLiQ, Tata CLiQ Luxury
- Hotel Bookings/Purchases on IHCL
- TATA 1MG
- Qmin
- Titan and Tanishq (only via Tata Neu)
Important of FAQs on Neucoins on UPI Transactions on Tata Neu Infinity HDFC Bank Credit Card, according to the HDFC Bank website.
What is the Tata Neu UPI ID and how can I get it?
The Tata Neu UPI ID is a unique UPI identifier provided by Tata Neu. You can create your Tata Neu UPI ID through the Tata Neu app. Simply follow the instructions in the app to set it up and link it to your Tata Neu HDFC Credit Card.
How many NeuCoins will I earn for UPI transactions with my Tata Neu Infinity HDFC Bank Credit Card?
For eligible UPI transactions made with your Tata Neu Infinity HDFC Bank Credit Card, you will earn: – 0.5% back as NeuCoins for transactions done using any UPI ID (Google Pay, PhonePe, Cred, etc.) – Additional 1% back as NeuCoins if the transaction is done using the Tata Neu UPI ID. – The total NeuCoins earned on eligible UPI transactions are capped to 500 NeuCoins per month.
How are the reward points credited to my account?
The 0.5% back as NeuCoins for all eligible UPI transactions will be credited by the bank in your credit card account. • The additional 1% back for transactions done via Tata Neu UPI ID will be credited in the promised state immediately in your Tata Neu account and will be available to use in your account after 30 days.
How soon will I see the additional 1% reward in my account?
The additional 1% NeuCoins for using the Tata Neu UPI ID will initially be credited in the promised state and will appear in your Tata Neu account immediately. After 30 days, it will be credited to your Tata Neu account.
What happens if a UPI transaction is reversed or cancelled?
In case of a reversal or cancellation of the original eligible UPI transaction, both the bank and Tata Digital Private Limited (TDPL) reserve the right to withdraw or cancel the awarded NeuCoins.
Where can I check my NeuCoins balance and transaction history?
You can check your NeuCoins balance and transaction history in the Tata Neu app. Simply log in and navigate to the rewards section to view your details.
Will the change in rewards affect my existing NeuCoins balance?
No, the change in the rewards program will not affect your existing NeuCoins balance.
