Shoppers Stop HDFC Bank Credit Card

Best for: Regular Shoppers Stop shoppers who redeem points as Shoppers Stop vouchers, First-time cardholders wanting a low-fee RuPay UPI card with a store tie-in

Entry tier — great for first-time and lower-spend users.

Strongest value if you spend heavily on Online Shopping ( 3% back).

• 3% Reward Points at Shoppers Stop with 1 RP = ₹1 against Shoppers Stop vouchers
• ₹850 welcome kit — a ₹500 voucher plus a ₹350 Silver Edge membership — against a ₹299 fee
• Weekend offer adds up to ₹2,500/year in points on big Shoppers Stop bills
• RuPay card links to UPI for scan-and-pay and still earns 1%

• Points are worth only ₹0.20–0.25 outside Shoppers Stop voucher redemption
• Supermarkets, fuel, rent, wallet loads, government, EMI, insurance and jewellery earn nothing
• Earning is capped at 500 RP/month at Shoppers Stop and 1,000 RP/month elsewhere
• No published spend-based waiver for the ₹299 annual fee
• ₹50 fee on cashback redemption and ₹99 + taxes on catalogue redemption

Ways to convert what you earn into real value.

🎁 Shoppers Stop vouchers at 1 RP = ₹1 (best value; points valid 2 years)

🎁 Statement credit at 1 RP = ₹0.20 (min 500 RP, ₹50 redemption fee)

🎁 Product catalogue at up to ₹0.25/RP (₹99 + taxes handling fee) or airmiles at ₹0.25

🎁 SmartBuy flights/hotels at ₹0.20/RP, up to 50% of booking value

As a dedicated co-branded store card, the introductory economics are straightforward: the initial ₹500 voucher combined with the ₹350 Silver Edge membership comfortably offsets the ₹299 first-year fee, while the 3% earn rate (redeemed at ₹1 per point) offers solid value for recurring Shoppers Stop patrons. Conversely, as a primary all-round credit card, its proposition is limited—redemption values plunge to ₹0.20 outside brand vouchers, critical everyday categories like fuel and supermarkets yield zero points, and no annual spend waiver exists. It functions best as a secondary card kept strictly for departmental store purchases.

Sources & verification

Fees, reward rates, and benefits for the Shoppers Stop HDFC Bank Credit Card are taken from HDFC Bank 's official Most Important Terms & Conditions (MITC) and fee schedule — see the card's official page . Last verified 5 Aug 2026 . Reviewed by Devchandra Sah . Always confirm current details on the issuer's site before applying. How we research →

Independence. CardAdvisor is an independent editorial publication. We are not affiliated with, endorsed by, sponsored by, or authorised to act for HDFC Bank . All issuer names, product names, and payment-network marks are the property of their respective owners and appear here for identification and comparison only. Card faces shown on this site are our own original illustrations — we do not display or host issuer card artwork or logos.

Every real-world change to this card's rewards, fees and benefits we've tracked — newest first, each linked to its source.

Tracking since 2022 · 10 changes · last change May 2026

▲ Revaluation ▼ Devaluation ◆ Neutral / reversed

▼ Fee Effective 15 May 2026

Dynamic currency conversion markup raised to 1.75%

1% markup → 1.75% markup

HDFC's MITC: "Dynamic currency conversion Markup Fee: With effect from 15th May 2026, a Markup fee of 1.75% will be levied on all transactions carried out in Indian Currency at an international location or at merchants which are located in India but registered overseas." This is separate from, and stacks on top of, the card's ordinary foreign-currency markup. It is the charge you pay for accepting a terminal's offer to bill you in rupees while abroad - always decline that offer and pay in the local currency. It also catches India-based purchases from merchants registered overseas, which is easy to trigger without leaving the country. The PIXEL MITC dates the same change 17 May 2026.

Verification: HDFC Bank ↗ · Confidence: High

▼ Fee Effective 1 Jul 2025

1% fee added on rent, wallet loads and online gaming

No category surcharge on rent, wallet loads or gaming → 1% on rent (cap Rs 4,999 per transaction); 1% on wallet loads and on online skill-based gaming above Rs 10,000 a calendar month (cap Rs 4,999 a month)

HDFC's MITC: "Rent Pay Transactions: W.e.f. 1st July 2025, 1% fee on transaction amount will be levied on rental transactions... Fee capped at Rs 4999 per transaction"; "Wallet Loading (excl PayZapp) - W.e.f. 1st July 2025, 1% fee will be levied on Wallet loading spends exceeding Rs 10,000 in a calendar month"; "Online Skill based Gaming - W.e.f. 1st July 2025, 1% fee... exceeding Rs 10,000 in a calendar month". These are charges on top of the fact that most HDFC cards already earn zero reward points on the same categories - you pay to spend, and earn nothing for it. PayZapp wallet loads are exempt from the wallet fee.

Verification: HDFC Bank ↗ · Confidence: High

▼ Fee Effective 1 Jul 2025

1% fee on utilities above Rs 50,000 and on third-party education payments

No surcharge on utility or education payments → 1% on utility spends above Rs 50,000 a calendar month (cap Rs 4,999 a month); 1% on education paid through third-party apps

HDFC's MITC: "Utility Charges: 1% fee will be levied on utility spends exceeding Rs 50,000 per Calendar month for consumer cards... Fee capped at Rs 4999 per month"; "Education Charges: 1% fee... on Education transactions done through third party applications like (but not limited to) CRED, Nobroker, Cheq etc." Paying school or college fees DIRECTLY to the institution is not charged - only routing them through a third-party app is. A 1% fee also applies to fuel transactions above Rs 15,000.

Verification: HDFC Bank ↗ · Confidence: High

▼ Reward Effective 1 Jul 2025

Insurance reward points capped, online gaming stops earning

Insurance uncapped on most cards; online skill-based gaming earned points → Insurance capped at 2,000 reward points a month (5,000 on Diners Black, 10,000 on Infinia); online skill-based gaming earns nothing

HDFC's MITC: "With effect from 1st July 2025, Reward Points accrued for insurance transactions will have a maximum cap of... 2000 per month for all other credit cards" and "With effect from 1st July 2025, Online Skill-Based gaming transactions will not earn Reward Points/CashPoints on all the cards." Insurance premiums are a common way to hit a milestone quickly, so the cap matters more than its size suggests.

Verification: HDFC Bank ↗ · Confidence: High

▼ Fee Effective 1 Aug 2024

Bank-wide HDFC fee revision: ₹50 redemption fee + 1% utility fee

No reward-redemption fee; no utility surcharge → ₹50 per statement-credit redemption; 1% on utility spends over ₹50,000

As part of a portfolio-wide HDFC repricing effective 1 August 2024, statement-credit / cashback reward redemptions began attracting a ₹50 fee, and a 1% fee was applied to utility transactions above ₹50,000. The change hit all HDFC reward-earning cards including co-brands; on this card the ₹50 fee applies when Reward Points are redeemed as cashback rather than as Shoppers Stop vouchers. ⚠ The utility cap has since moved: this event originally recorded "capped ₹3,000 per billing cycle", and HDFC's current MITC (updated 21 July 2026) states "Fee capped at Rs 4999 per month" on utility spends "exceeding Rs 50,000 per Calendar month". The ₹3,000 figure is the 2024 state and the ₹4,999 one is current; the phrasing also shifted from billing cycle to calendar month.

Verification: CardAdvisor Research · Confidence: High

◆ Reward Effective 1 Mar 2024

Earning restructured to 3% Shoppers Stop / 1% other Reward Points with monthly caps

Co-brand earning without the ₹500 / ₹1,000 monthly Reward-Point caps → 3% on Shoppers Stop (cap 500 RP/month) + 1% elsewhere (cap 1,000 RP/month), min ₹150/txn

Effective 1 March 2024 HDFC re-based the card onto its standard Reward Points currency: 3% back at Shoppers Stop (in-store and shoppersstop.com, capped 500 RP a month) and 1% on all other spends (capped 1,000 RP a month), with a ₹150 minimum transaction on both. Points are worth ₹1 each only against Shoppers Stop vouchers and ₹0.20–0.25 by other routes, and the new monthly caps limit how much can be earned — a lateral restructure rather than a clean upgrade or cut.

Verification: HDFC Bank ↗ · Confidence: High

▼ Fee Effective 1 Mar 2024

Lifetime-free tag dropped; ₹299 joining and annual fee introduced

Lifetime free (₹0) → ₹299 + GST joining and annual fee

The Shoppers Stop HDFC Bank Credit Card was launched and marketed as a lifetime-free card, but from 1 March 2024 HDFC introduced a ₹299 + GST joining and annual fee. HDFC publishes no spend-based waiver for this fee, so it applies regardless of annual spend — a clear devaluation for existing holders who signed up for a no-fee card.

Verification: HDFC Bank ↗ · Confidence: High

▲ Milestone Effective 1 Mar 2024

Weekend milestone added — ₹500 in points on a ₹15,000+ Shoppers Stop bill

No weekend milestone → ₹500 in Reward Points for a single ₹15,000+ Shoppers Stop weekend purchase

The March 2024 revamp introduced a new weekend milestone: a single Shoppers Stop purchase of ₹15,000 or more made on a Friday, Saturday or Sunday earns ₹500 in Reward Points, capped at once a month and five times a year (up to ₹2,500 a year). It is a genuine new benefit that partly offsets the newly introduced ₹299 annual fee for heavy Shoppers Stop shoppers.

Verification: HDFC Bank ↗ · Confidence: High

▲ Network Effective Feb 2024

Card offered on RuPay with UPI Scan & Pay linkage

Non-RuPay co-brand (no UPI linkage at 2022 launch) → RuPay card linkable to UPI for Scan & Pay

By February 2024 the base Shoppers Stop card was available on the RuPay network and could be linked to UPI for Scan & Pay — a capability that did not exist when the co-brand launched in March 2022, since RuPay credit-card-on-UPI only went live in India from late 2022. Linking the card to a UPI app lets everyday scan-and-pay spends earn the standard 1% rate. Exact rollout date is not issuer-published; a February 2024 aggregator listing shows the RuPay + UPI variant already live.

Verification: CardAdvisor Research · Confidence: Reconstructed

◆ Launch Effective 30 Mar 2022

HDFC Bank & Shoppers Stop launch the co-branded credit card

HDFC Bank and Shoppers Stop launched their co-brand in two tiers — the base Shoppers Stop HDFC Bank Credit Card and the premium Shoppers Stop Black — targeting Shoppers Stop's First Citizen loyalty base. At launch the base card was lifetime free and earned First Citizen Points, with a ₹500 welcome voucher, a complimentary Shoppers Stop membership, a 2,000-point annual milestone and a 1% fuel-surcharge waiver. The base card's terms were later reworked in the March 2024 revamp. ⚠ The specific launch earn rates widely quoted for this card — 6 First Citizen Points per ₹150 on Shoppers Stop private labels and 2 per ₹150 elsewhere — appear only in CardInsider, MediaInfoline and MyRupaya. HDFC's own press release does not state them, and the current T&C publishes no First Citizen rate at all, saying only that a cardholder earns them "as a Shoppers Stop silver member over and above the credit card features". Those figures have therefore been removed from this summary rather than repeated as issuer fact.

Verification: CardAdvisor Research · Confidence: High

↓ Show all 10 changes Each change links to the issuer's own document — bank T&C, MITC, notice, press release or product page — where one is public. Where the bank published nothing, it's marked CardAdvisor Research and verified against the card's current terms. Independent of the live terms shown above. This timeline is one card's slice of our market-wide change record across every tracked card.

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Quick summary

Type Entry credit card

Reward rate 1%–3%

Best for Regular Shoppers Stop shoppers who redeem points as Shoppers Stop vouchers

Joining fee ₹299

Annual fee ₹299

Reviewed by

Devchandra Sah · Cards tested, miles earned, trips booked — for over a decade

Last verified 5 Aug 2026

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