Head-to-head · 🇮🇳 India
HDFC MoneyBack+ vs IndusInd Iconia Amex
Side-by-side comparison across fees, rewards, welcome bonuses, and eligibility.
IN
HDFC Bank
HDFC MoneyBack+
VISA
Wins 4 of 10
IN
Premium
IndusInd Bank
IndusInd Iconia Amex
AMERICAN
EXPRESS
EXPRESS
Wins 3 of 10
Verdict
HDFC MoneyBack+ wins 4-3. Entry-level cashback with very low waiver bar. IndusInd Iconia Amex is still the right call if mid-premium amex with annual-fee waiver from year 2..
Side-by-side
| Criterion | HDFC MoneyBack+ | IndusInd Iconia Amex |
|---|---|---|
| Annual fee | · ₹500 | No annual fee |
| Joining fee | ₹500 | · ₹3,500 |
| Top reward rate | = 5% (shopping) | = 5% (shopping) |
| Base reward rate | 2% | · 1.5% |
| Forex markup | = 3.5% | = 3.5% |
| Welcome bonus | = 500 CashPoints on first transaction | = 4,000 reward points + Yatra voucher |
| Fee waiver threshold | · ₹50,000 / yr | N/A (no fee) |
| Min income | ₹240,000 | · ₹600,000 |
| Min credit score | 720 | · 770 |
| Editorial rating | · 4.1/5 | 4.2/5 |
Benefits compared
HDFC MoneyBack+
- 5% on Amazon, Flipkart, Big Basket, Reliance Smart Bazaar (capped ₹1K/month)
- 2% on EMI transactions
- 1 fuel surcharge waiver
- Quarterly milestone vouchers
IndusInd Iconia Amex
- 10 reward points per ₹100 on weekend dining + grocery
- 4 international + 8 domestic lounge visits/year
- Annual fee waived from year 2 (lifetime)
- 1% fuel surcharge waiver
- Buy-1-get-1 BookMyShow
FAQ
›HDFC MoneyBack+ vs IndusInd Iconia Amex: which is better?
HDFC MoneyBack+ wins on more dimensions (4 vs 3). But the right answer depends on your specific spending pattern — see the calculator below.
›Can I get both?
Yes — if your credit profile supports it, holding both is the optimal play. Use HDFC MoneyBack+ for its best categories, IndusInd Iconia Amex for its best categories. Just watch the combined annual fees against your spend.
›Which one has the better welcome bonus?
HDFC MoneyBack+: 500 CashPoints on first transaction. IndusInd Iconia Amex: 4,000 reward points + Yatra voucher.