PhonePe, HDFC Bank launch co-branded RuPay credit card with UPI integration

[HumorSimpson]

PhonePe and HDFC Bank have jointly launched the ‘PhonePe HDFC Bank Co-branded Credit Card’ on the RuPay network. This marks PhonePe’s entry into the co-branded credit card space.

The card is aimed at digital-first consumers and offers UPI-linked credit payments.

The card is available in two variants—‘Ultimo’ and ‘UNO’. Both are designed to offer rewards across daily spending categories, with added convenience of UPI-based transactions using credit.


https://www.phonepe.com/credit-cards/phonepe-hdfc-credit-card/

Feature	Phone Pe Ultimo	Phone Pe Uno
Cashback
Utilities, travel and leisure	10% Reward Points on PhonePe spends like Recharge, Bill Payments, Flight Booking, Hotel, Pincode & more.	2% Reward Points on PhonePe spends like Recharge, Bill Payments, Flight Booking, Hotel, Pincode & more.
E-commerce and QSRs	5% Reward Points on top online brands: Flipkart, Amazon, Swiggy, Zomato, Uber, Myntra & AJIO.	1% Reward Points on top online brands: Flipkart, Amazon, Swiggy, Zomato, Uber, Myntra & AJIO.
Scan and Pay	1% Reward Points on Scan and Pay payments through any UPI app.	1% Reward Points on Scan and Pay payments through any UPI app.
	8 complimentary airport lounge access within India per year.
Fuel surcharge waiver	1% waiver on fuel surcharge for worry-free fuel spends.	1% waiver on fuel surcharge for worry-free fuel spends.
Fee
Joining fee	₹999	₹499
	₹999 Renewal Fee (2nd year onwards)	₹499 Renewal Fee (2nd year onwards)
	Renewal fee waiver on crossing ₹2 Lakh spends, annually	Renewal fee waiver on crossing ₹1 Lakh spends, annually
Welcome benefits	Get cashback worth ₹499 on first UPI payment on PhonePe via this card	Get cashback worth ₹249 on first UPI payment on PhonePe via this card
	Get ₹500 cashback!	Get ₹250 cashback!
	Earn ₹50 for your next 10 UPI payments on PhonePe via this card	Earn ₹25 for your next 10 UPI payments on PhonePe via this card
Reward point value	1 reward point = ₹1	1 reward point = ₹1

The card will be made available to eligible PhonePe users in phases

10% Reward Points on Select PhonePe categories: Recharges, Utilities, Bill Payments, Movies, Hotels, Travel, and PhonePe PINCODE, as well as Travel Switch categories on PhonePe.
Capped at 1000 Reward Points per calendar month

5% Reward Points on Select Online Brands - Amazon, Flipkart, Myntra, Ajio, Swiggy, Zomato, Uber.
Capped at 500 Reward Points per calendar month

1% Reward Points on All Scan & Pay.
Capped at 500 Reward Points per month

CashBack Accrual:

CashBack will be given in the form of Reward Points, which can be redeemed by you against the statement balance (on request only).
The redemption against the statement balance will be at the rate of 1 Reward Point = ₹1
The minimum Reward Points balance required for redemption against the statement balance is 500 Reward Points
Reward Points can also be used for redemption against other benefits like Flight & Hotel bookings and Rewards Catalogue at the SmartBuy Rewards Portal, at a value of 1 Reward Point = ₹0.30.

Maximum CashBack of Rs 7500 per month

Unredeemed CashPoints will expire/lapse after 1 year of accumulation

Full Terms

https://www.hdfcbank.com/content/bbp/repositories/723fb80a-2dde-42a3-9793-7ae1be57c87f/?path=/Personal/Pay/Cards/Credit%20Card/Credit%20Card%20Landing%20Page/Credit%20Cards/Co-Brand/PhonePe%20HDFC%20Bank%20Ultimo%20Credit%20Card/PhonePe-Ultimo-CC-Reward-Points-T-Cs.pdf

 

[Anshit]

I am looking for my first Rupay Card for UPI, will this be a good card? I don't use Phonepe though

 

[nikhilv0303]

Had got the apply option. Continued up until 2nd stage. And then had to abandon the process in between. Opened the app again to see "Coming Soon". Has been the same since 2 days now. I think I'll now have to wait for 60 days to apply - as per their policy.

Why 60 days?

 

[SSV]

I am looking for my first Rupay Card for UPI, will this be a good card? I don't use Phonepe though

This is a good card..but when you use it on phonepe it is an excellent card. And you can easily use phonepe for your regular payments using this card..First get the card and then we will show you how to make best use of it..
All the best

 

[Rishabh]

Based on the track record of HDFC, I am eagerly waiting to see who will be the first person to post screenshot of LTF offer for both of this cards in TF community in coming months 🙂 😛

Swiggy, Neu, Marriott all this cards were launched with some fees but after few months from their launch bank started offering them as LTF. And sad part is for existing customers who got issued the paid variant have to continue pay the annual fees for this cards.

This time I will wait to get this cards LTF as I am very sure HDFC will roll out a LTF offer for sure in future 🙂

 

[Anshit]

This is a good card..but when you use it on phonepe it is an excellent card. And you can easily use phonepe for your regular payments using this card..First get the card and then we will show you how to make best use of it..
All the best

Thanks, I definitely consider this, Just waiting for the dust to settle in on this one (and some Others🤪)

 

[Anshit]

So joining fee can be retrieved by doing 11 transactions, Phonepe gift card can be used for paying bills? will there any conditions applied for using the gift card?

 

[SpaceBar]

Based on the track record of HDFC, I am eagerly waiting to see who will be the first person to post screenshot of LTF offer for both of this cards in TF community in coming months 🙂 😛

Swiggy, Neu, Marriott all this cards were launched with some fees but after few months from their launch bank started offering them as LTF. And sad part is for existing customers who got issued the paid variant have to continue pay the annual fees for this cards.

This time I will wait to get this cards LTF as I am very sure HDFC will roll out a LTF offer for sure in future 🙂

After 6 month for sure. Maybe in Oct-Nov or Mar-Apr.

 

[nikhilv0303]

So joining fee can be retrieved by doing 11 transactions, Phonepe gift card can be used for paying bills? will there any conditions applied for using the gift card?
View attachment 103027

PhonePe gift card can only be used for QR payments when merchant is using Phonepe qr. it cannot be used for bills or p2p

 

[Wealth is my birth right!]

Based on the track record of HDFC, I am eagerly waiting to see who will be the first person to post screenshot of LTF offer for both of this cards in TF community in coming months 🙂 😛

Swiggy, Neu, Marriott all this cards were launched with some fees but after few months from their launch bank started offering them as LTF. And sad part is for existing customers who got issued the paid variant have to continue pay the annual fees for this cards.

This time I will wait to get this cards LTF as I am very sure HDFC will roll out a LTF offer for sure in future 🙂

Worthy for 999/- better I take paid version instantly

 

[Anshit]

PhonePe gift card can only be used for QR payments when merchant is using Phonepe qr. it cannot be used for bills or p2p

That is a bummer!

 

[some1anywhere]

The thing is even if we do take this card PAID as the Welcome benefits are equal to the joining fee, it will be hard to achieve spends of several lakhs year after year to waive off the annual charges because this card will be used mostly for 10% bill discounts, Pincode app grocery and 5% discounts on brands. Being cobranded, this card will be disabled from online discounts/sales offers of HDFC cards. So big purchases like 10% on smartphones/electronics or 10% on flight tickets are unlikely to happen with this card. So I think it's better to wait for LTF

 

[Exewhyzee]

The thing is even if we do take this card PAID as the Welcome benefits are equal to the joining fee, it will be hard to achieve spends of several lakhs year after year to waive off the annual charges because this card will be used mostly for 10% bill discounts, Pincode app grocery and 5% discounts on brands. Being cobranded, this card will be disabled from online discounts/sales offers of HDFC cards. So big purchases like 10% on smartphones/electronics or 10% on flight tickets are unlikely to happen with this card. So I think it's better to wait for LTF

10% off on utility bills will be a big puller for people who have big beautiful bills which can't be catered by Airtel Axis/ those who can't access Apay GCs at ~ 15%.

 

[SSV]

The thing is even if we do take this card PAID as the Welcome benefits are equal to the joining fee, it will be hard to achieve spends of several lakhs year after year to waive off the annual charges because this card will be used mostly for 10% bill discounts, Pincode app grocery and 5% discounts on brands. Being cobranded, this card will be disabled from online discounts/sales offers of HDFC cards. So big purchases like 10% on smartphones/electronics or 10% on flight tickets are unlikely to happen with this card. So I think it's better to wait for LTF

10% off on utility bills will be a big puller for people who have big beautiful bills which can't be catered by Airtel Axis/ those who can't access Apay GCs at ~ 15%.

and by the time this comes LTF, this Big Beautiful Bill payment offer might disappear / substantially devalued...
and hence dont want to plan for the loooong time into the future..
just enjoy the benefits while they last ,escpecially as the joining fee is effectively almost nil, apart from paying the GST part.

 

[some1anywhere]

and by the time this comes LTF, this Big Beautiful Bill payment offer might disappear / substantially devalued...
and hence dont want to plan for the loooong time into the future..
just enjoy the benefits while they last ,escpecially as the joining fee is effectively almost nil, apart from paying the GST part.

Hmm you have a point. For Neu, I had a major FOMO so I took FYF Neu Plus and got trolled for why I didn't take LTF. 🤭 Later got LTF Neu Plus and upgraded to LTF Neu Infinity but that I think is only because it was easy in those days to do RuPay CC on UPI to bank via tricks to do enough "spends. Now it's possible still but most tricks are patched so takes some effort to find a trick.

Another challenge is keeping total bank spends under 10L while having Millennia, Pixel Play, Neu Infinity, Swiggy and if we get it Ultimo (2L waiver) which means on other cards total spends only 8L if you don't want your spends to be reported in AIS

 

[nikhilv0303]

and by the time this comes LTF, this Big Beautiful Bill payment offer might disappear / substantially devalued...
and hence dont want to plan for the loooong time into the future..
just enjoy the benefits while they last ,escpecially as the joining fee is effectively almost nil, apart from paying the GST part.

10% on bill is capped at 1000 per month right?

 

[nikhilv0303]

Hmm you have a point. For Neu, I had a major FOMO so I took FYF Neu Plus and got trolled for why I didn't take LTF. 🤭 Later got LTF Neu Plus and upgraded to LTF Neu Infinity but that I think is only because it was easy in those days to do RuPay CC on UPI to bank via tricks to do enough "spends. Now it's possible still but most tricks are patched so takes some effort to find a trick.

Aisi ek loot hume bhi DM kar do bhai

 

[newmakerhere]

Koi bhagyashali hai yaha jise yeh card Mila hai

 

[Nitin13]

Has anyone received HDFC Bank Ultimo Credit Card?

I have Axis Ace and Axis Airtel Credit Card for Utilities and Bill payment. I am thinking of closing Axis Ace and applying for HDFC Ultimo. Is it a good option?

 

[OptiCard]

Has anyone received HDFC Bank Ultimo Credit Card?

I have Axis Ace and Axis Airtel Credit Card for Utilities and Bill payment. I am thinking of closing Axis Ace and applying for HDFC Ultimo. Is it a good option?

Yes.
Keep Airtel.

 

[some1anywhere]

SBI PhonePe cards are also coming, PhonePe Purple and PhonePe Select Black cards. Here are benefits of Black. Rewards capped at 2000 INR EACH and it has no mention of Scan and Pay or UPI so probably these are going to be Visa/Master cards