PhonePe HDFC Bank Ultimo Credit Card
Co-branded
Reward Points
1st Year Fee: ₹999* Plus Applicable Taxes
Rewards
Up to 10% value-back on card spends
Lounge Access
Up to 8 domestic lounge visits per year
Fee Waiver
Fee waived on Rs. 2 lakh annual spends
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About PhonePe HDFC Bank Ultimo Credit Card
PhonePe HDFC Bank Ultimo Credit Card is the premium variant among the two credit cards co-branded with PhonePe, with the base variant being PhonePe HDFC Uno credit card. It is a RuPay credit card that offers reward points on every card spend which can later be redeemed against cashback in 1:1 ratio and on SmartBuy platform for a slightly lower value. One of the highlights of this HDFC credit card includes up to 10% accelerated value-back on popular lifestyle categories and platforms like movies, travel, Myntra, Amazon and Zomato, along with utilities, bill payments and recharges – categories that are often overlooked in the rewards programs. Card users can also save 1% on other UPI spends.
Apart from the rewards program, PhonePe Ultimo credit cardholders get the option to avail domestic lounge access by meeting the quarterly spending condition. While the joining fee cost can be overcome through the welcome benefit worth the same amount, the annual fee comes with its own waiver condition. Both these conditions lean towards the lower side and hence can be met by any average spender too. Read on to know more about the card features and benefits in detail.
Note: This Card is not available on Paisabazaar. The content on this page is for information only. To express interest in this card, please visit HDFC Bank’s website.
Rewards Program
- 10% Reward Points: On spends made on utilities, movies, hotels, travel, recharges, bill payments, PhonePe Pincode app, and Travel Switch category on PhonePe (Capping: 1,000 reward points per month)
- 5% Reward Points: On spends made on Myntra, Swiggy, Zomato, Amazon, Ajio, Flipkart and Uber (Capping: 500 reward points per month)
- 1% Reward Points: On spends made through Scan & Pay1 (Capping: 500 reward points per month)
- Redemption2 Value:
- 1 Reward Point = Rs. 1 as cashback3 against statement balance
- 1 Reward Point = Rs. 0.30 against product catalogue and flight/hotel bookings on SmartBuy and Airmiles
Other Features & Benefits
Welcome Benefit
- PhonePe gift card of Rs. 499 (50% of joining fee) on the 1st UPI transaction4
- PhonePe gift card of up to Rs. 500, where a gift card of Rs. 50 is given on each of the next 10 UPI transactions4
Airport Lounge Access
- Up to 8 complimentary domestic lounge visits in a year, capped at 2 per quarter on reaching Rs. 75,000 quarterly spends
Fee Waiver
- Renewal fee is waived off on spending min. Rs. 2 lakh in the previous year
Fuel Benefit
- 1% fuel surcharge waiver, up to Rs. 250 per month, on fuel spends of Rs. 400 to Rs. 5,000
| Fee Type | Amount | ||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Joining/Annual Fee | Rs. 999 + applicable taxes | ||||||||||||||||
| Finance Charges | 3.75% per month (45% per annum) | ||||||||||||||||
| Late Payments Fees |
|
Things to Know Before you apply
Get This Card If:
You are looking for a RuPay credit card to save on UPI transactions and get accelerated savings on popular shopping apps and platforms
PhonePe is either your preferred payments app or you can maximise your value-back by start using this app for payments
You want a credit card to save on spends like utilities, bill payments and recharges - categories that are often excluded
You are looking for card with domestic airport lounge access and can meet the quarterly spend condition to avail this benefit
Similar Cards:
HDFC Bank Millennia Credit Card
HSBC Live+ Credit Card
Tata Neu Infinity HDFC Credit Card
Flipkart Axis Bank Credit Card
Paisabazaar Review
What do we like about this card?
PhonePe Ultimo HDFC Bank Credit Card offers considerable accelerated rewards on some of the most popular online platforms and common lifestyle and household spends. This lets the users save up to 10% on categories like online shopping, movies, food delivery, travel and bills. Being a RuPay card, it also offers 1% back on Scan and Pay UPI spends. The reward points can be redeemed in up to 1:1 ratio, thus maximising the savings. In addition to rewards, welcome benefits compensate for the joining fee and the renewal fee comes with a low spending condition for its waiver which makes this card affordable even for low to average spenders. Moreover, the complimentary domestic airport lounge access further adds to the overall benefits and savings.
Pros
- Up to 10% savings on shopping and common lifestyle categories
- Accelerated rewards on categories, like bills and utilities, that are generally excluded
- No cashback redemption fee charged
- Up to 8 complimentary domestic airport access
- Easily achievable spending condition for annual fee waiver
Cons
- Capping on rewards earnings, including base rate category spends
- Earned reward points expire after 1 year of accrual
- Airport access comes with quarterly spending condition
Frequently Asked Questions
Everything you need to know about this credit card
No, the earned reward points can be redeemed as cashback against statement balance by request only. You can request for cashback accrual by logging into your card account.
No, no fee is charged on cashback redemption of the accrued reward points.
Yes, only the card transactions that are worth Rs. 100 or more are eligible for accrual of reward points.
You can earn a maximum of 2,000 reward points every month using HDFC PhonePe Ultimo credit card.
Yes, you can link PhonePe Ultimo HDFC credit card to any UPI app other than PhonePe as well, including Google Pay, BHIM UPI, Paytm, CRED, etc.
Footnotes
- No reward points are credited on fuel, insurance, investment, jewellery, cash advances, rental payments, EMI spends, wallet load, govt. spends, education fees, gift card, credit card bill payment, fees and charges.
- Earned rewards are valid for 1 year from accrual
- Minimum 500 reward points are required for redemption against statement balance and cardholders can redeem cashback of up to Rs. 7,500 in a month
- Applicable only on UPI transactions worth Rs. 100 or more
Click here to know More Terms and Conditions
Lepakshi Phogat
Lepakshi is a content writer specialising in personal finance and credit cards. She translates complex financial concepts into practical advice, helping readers make informed financial decisions. Whether it is helping them choose the right credit card or offering strategies to build their credit score, she writes to make personal finance less intimidating and more empowering.
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