PhonePe HDFC Bank Ultimo Credit Card
HDFC Bank
Annual Fee
₹999
Joining Fee
₹999 + GST
Base Reward
10% points
Foreign Markup
3.5%
Fee Waiver
Renewal fee waiver on annual spends of ₹2 Lakh or more
Interest Rate
3.75% per month (45% annually)
Welcome Benefits
Get 50% of the Joining Fee Back as a PhonePe Gift Card on Your First RuPay Credit Card UPI Transaction, and the Remaining 50% as 10 Gift Cards on Continued UPI Spends
Product Highlights
- 10% Reward Points on bill payments via PhonePe up to 1,000 Reward Points
- 5% Reward Points on popular online platforms like Flipkart, Amazon, Ajio, Swiggy, Zomato
- Free domestic airport lounge access with minimum spend
Rewards
10 Reward Points/₹100 on Select PhonePe Spends Like Recharges, Bill Payments, Movies, Hotels, Utilities, and More. 5 Reward Points/₹100 on Brands Like Amazon, Flipkart, Myntra, Ajio, and More. 1 Reward Point/₹100 on Scan & Pay UPI Spends.
Redemption
1 Reward Point = ₹1 (Redemption Against Statement). 1 Reward Point = ₹0.30 When Redeemed for Airmiles, Product Catalogue or Smartbuy.
Category Rewards
| Category | Reward Rate | Monthly Cap |
|---|---|---|
utilities | 10%(10% Reward Points) | No cap |
shopping | 5%(5% Reward Points) | No cap |
Merchant-Specific Rewards
| Merchant | Reward | Context |
|---|---|---|
| PhonePe | 10% Reward Points(1,000 Reward Points/month) | online |
| Amazon | 5% Reward Points(500 Reward Points/month) | online |
| Flipkart | 5% Reward Points(500 Reward Points/month) | online |
| Myntra | 5% Reward Points(500 Reward Points/month) | online |
| Ajio | 5% Reward Points(500 Reward Points/month) | online |
| Swiggy | 5% Reward Points(500 Reward Points/month) | online |
| Zomato | 5% Reward Points(500 Reward Points/month) | online |
Benefits & Features
Domestic: 2 Lounge Visits Each Quarter (Min ₹75,000 quarterly spend required for activation) International: N/A Complimentary lounge access on ₹75,000+ quarterly spend. Without spend criteria, lounge access is not available.
Fees & Charges
Eligibility
Available Networks
Pros & Cons
Pros
- 10% Reward Points on PhonePe spends
- No charges for reward point redemption against statement
- Free domestic airport lounge access with minimum spend
Cons
- Requires ₹75,000 quarterly spend for lounge access
- No reward points for EMI transactions, fuel, wallet loads, and certain other categories
Additional Info
Reward Points are only valid for a period of one year.
Minimum of 500 Reward Points is required for redemption.
Card can only be applied for via the PhonePe app.
Capping of 1,000 Reward Points per calendar month for PhonePe spends, 500 Reward Points per calendar month for select merchants.
Excluded Categories