Introduction

The HDFC Global Value Program (GVP) is one of banking's best-kept secrets for international travelers and online shoppers who frequently make purchases in foreign currencies. While this program isn't prominently advertised on HDFC Bank's website, it offers exceptional value for a minimal annual fee, making foreign currency transactions significantly more rewarding for all HDFC credit cardholders.

Available to every HDFC retail and business credit cardholder, this subscription-based program transforms ordinary international spending into opportunities for cashback, travel vouchers, and enhanced rewards. Let's explore this hidden gem in detail and discover why it's worth activating on your HDFC credit card.

What is the HDFC Global Value Program?

The HDFC Global Value Program is an opt-in subscription service designed specifically for HDFC Bank credit card customers who make international transactions. For a nominal annual fee, the program provides significant benefits, including cashback on foreign currency transactions and travel vouchers upon reaching spending milestones.

Unlike many premium banking benefits limited to specific card variants, the Global Value Program is available across all HDFC credit cards, making it accessible to every cardholder regardless of their card type.

Program Fee Structure

The welcome bonus of 500 reward points is particularly valuable for premium cardholders.

For Infinia and Diners Club Black cardholders, these points are worth approximately ₹500 when redeemed for flights or hotel bookings, effectively offsetting the program's annual fee in the first year itself.

Key Benefits of the HDFC Global Value Program

1% Cashback on All Foreign Currency Transactions

The standout feature of the Global Value Program is the 1% cashback on all foreign currency transactions. This benefit applies whether you're traveling internationally or shopping on foreign websites from India. The cashback is credited directly to your credit card account, making it a straightforward and valuable benefit.

Important Note: The cashback is capped at ₹1,000 per statement cycle, which means you can maximize this benefit on foreign currency spending of up to ₹1 lakh per month. This translates to a potential annual cashback of up to ₹12,000.

Travel Vouchers on Annual Spending

Reach an annual international spending milestone of ₹1.5 lakh after enrolling in the program, and HDFC rewards you with travel vouchers worth ₹2,000. These vouchers can be used on popular travel platforms including:

• MakeMyTrip
• ClearTrip
• Yatra
• Ease My Trip

This is a recurring annual benefit as long as your Global Value Program subscription remains active and you meet the spending criteria.

Program Extended Until 2030

In early 2024, HDFC Bank temporarily removed the Global Value Program page from their website, leading to speculation about the program's future. However, the program has been extended until 2030, providing cardholders with the assurance that they can continue enjoying these benefits for years to come.

Calculating Effective Reward Rates with GVP

When evaluating the actual benefit of the Global Value Program, it's important to consider the forex markup alongside your card's regular reward rate. Here's how the effective reward rate breaks down for premium HDFC cards:

For HDFC Infinia and Diners Club Black cards:

• Base reward rate: 3.3%
• GVP cashback: 1%
• Forex markup: -2.36%
• Effective reward rate: Approximately 1.94%

This makes premium HDFC cards with the Global Value Program one of the most rewarding options for international spending in India. Even without accounting for milestone benefits (₹2,000 travel vouchers) and card-specific benefits, the program delivers significant value.

Which Cards are Eligible?

All HDFC Bank credit cards—both retail and business variants—are eligible for enrollment in the Global Value Program. This includes:

• HDFC Infinia
• HDFC Diners Black
• HDFC Marriott Bonvoy
• HDFC Swiggy
• HDFC Tata Neu Infinity
• All other HDFC credit card variants

The universal eligibility makes this program uniquely valuable as no other bank in India offers similar benefits across their entire credit card portfolio.

How to Enroll in the HDFC Global Value Program

The enrollment process is straightforward but requires direct communication with HDFC Bank:

1. Call HDFC Bank's credit card customer care number
2. Request enrollment in the Global Value Program
3. The representative will process your request
4. Enrollment is typically completed within 5 business days

Note that HDFC Bank has discontinued SMS-based enrollment requests. Email requests to customer support are also accepted.

Important Conditions for Cashback

To ensure you receive the 1% cashback benefit:

• Always pay in foreign currency, not INR, at point-of-sale terminals or payment gateways
• The benefit applies to foreign currency transactions made on international websites even while you're in India
• The program must be active on your card at the time of transaction

Is the Global Value Program Worth It?

For a fee of approximately ₹235 per year, the Global Value Program offers:

• Up to ₹12,000 in annual cashback on international transactions
• ₹2,000 in travel vouchers upon reaching the spending milestone
• 500 reward points as a welcome benefit (worth approximately ₹500 for premium cards)

Even if you make just a few international transactions annually, the program can easily pay for itself. For frequent international travelers or those who regularly shop on foreign websites, the Global Value Program represents exceptional value and significant savings.

HDFC Global Value Program (GVP) – Best & Worst Cards for Forex Spends

The HDFC Infinia, Diners Black, and BizBlack emerge as the best credit cards under the HDFC Global Value Program (GVP) for forex spending.

With a Net Reward Rate of 1.94% + milestone benefits of GVP, these cards help offset forex charges significantly.

On the other end, the HDFC Millennia, Swiggy, and Tata Neu Plus cards offer the worst value, with a Net Reward Rate of -2.13%, making them unsuitable for international transactions due to high forex charges.

Why the HDFC Global Value Program Stands Out

The HDFC Global Value Program is unique in the Indian banking landscape for several reasons:

1. Universal Eligibility: Unlike competitor programs that restrict benefits to specific card variants, GVP is available across all HDFC credit cards.
2. Dual Benefits: The program offers both immediate cashback and milestone rewards.
3. Extended Availability: With the program confirmed until 2030, cardholders can rely on these benefits for years to come.
4. Excellent Value Proposition: For premium cardholders especially, the effective reward rate on international transactions is among the best available in India.

Conclusion

The HDFC Global Value Program represents exceptional value for international spenders, offering a combination of cashback, travel vouchers, and welcome benefits that easily outweigh its modest annual fee. For those who travel abroad frequently or make regular purchases in foreign currency, activating this program is almost a no-brainer.

What makes this program particularly valuable is its universal availability across all HDFC credit cards and its confirmed extension until 2030. No other bank in India currently offers similar benefits across their entire credit card portfolio, making the HDFC Global Value Program truly unique in the market.

If you're an HDFC credit cardholder who hasn't yet enrolled in this program, consider reaching out to customer care today to activate this hidden gem and start maximizing your international spending rewards.

Frequently Asked Questions (FAQ)

How much cashback can I earn through the HDFC Global Value Program?

You can earn 1% cashback on all foreign currency transactions, with a maximum cap of ₹1,000 per statement cycle. This means you can earn up to ₹12,000 in cashback annually if you consistently reach the monthly cap.

Is the Global Value Program available on all HDFC credit cards?

Yes, the program is available on all HDFC Bank retail and business credit cards, regardless of card variant or tier.

How do I enroll in the HDFC Global Value Program?

Contact HDFC Bank's credit card customer care via phone or email to request enrollment. The process typically takes up to 5 business days to complete.

How long will the program remain active on my card?

Once activated, the Global Value Program remains active on your card until you specifically request to opt out by calling customer care.

What is the annual fee for the Global Value Program?

The annual fee is ₹199 plus taxes (approximately ₹235 total).

Will I receive the 1% cashback on international transactions made online from India?

Yes, the cashback applies to any transaction made in foreign currency, whether physically abroad or online from India.

How do I receive the travel vouchers after reaching the spending milestone?

After spending ₹1.5 lakh on international transactions within a year of enrollment, you'll receive ₹2,000 worth of travel vouchers that can be used on MakeMyTrip, ClearTrip, Yatra, or Ease My Trip.

Is it better to pay in local currency or INR when abroad?

Always pay in the local currency (foreign currency) to qualify for the 1% cashback under the Global Value Program. Converting to INR at the point of sale will not qualify for the cashback.

What happens if I already have a zero forex markup credit card?

Even if you have a zero forex markup card from another bank, the HDFC Global Value Program may still offer better overall value due to the combination of cashback, travel vouchers, and your card's regular reward structure.

How do I check if the Global Value Program is active on my card?

You can confirm the status by calling HDFC Bank customer care or checking your credit card statement for the annual fee charge.