Paytm HDFC Bank Business Credit Card Vs Paytm HDFC Bank SELECT Business Credit Card

Many  cards with premium offerings with great benefits has been launched by HDFC bank. However, there are two special  cards designed for businesses issued in partnership with Paytm- Paytm HDFC Bank Business Credit Card and Paytm HDFC Bank SELECT Business Credit Card. From here, we will be going to talk about both these cards in detail and will make a comparison of both.

The Paytm HDFC Bank Business Credit Card is a Co-branded card as mentioned launched by the HDFC Bank in partnership with Paytm. The card has been exclusively made for businesses that do a lot of transactions or shopping for business needs on the Paytm App. The card offers tons of cashback to the cardholder while making their payment with the Paytm App and also when they are shopping through the Paytm Mall. Apart from this, the card offers many great benefits with card activation and also on achieving milestone spending.

On the other hand, the Paytm HDFC Bank SELECT Business Credit Card is a greater version of the Paytm HDFC Bank Business Credit Card. The Select card offers every other benefit offered by the lower version but in an ample amount. The card offers extra cashback for every transaction made on the Paytm App and also extra points for shopping transactions made on the Paytm Mall. On top of that, the card offers great privileges like complimentary access to domestic airport lounges and Insurance Benefits. Now let us discuss in detail the features and benefits that these cards provide to have a better understanding of these credit cards –

Paytm HDFC Bank Business Credit Card

The Paytm HDFC Bank Business Credit Card is a co-branded card offered by the HDFC bank in partnership with Paytm. The card comes with Paytm’s first membership which comes with exclusive benefits, over and above the regular offers. Also, it offers up to 3% cash back on all purchases on Paytm (Recharge + Utility + Movies + Mini App), 2% cashback on all other Paytm spends, and 1% cashback for all other retail transactions. Not only this, the card offers many other benefits on card activation, meeting spending targets, and much more. Following are the detailed features and benefits that come along with this credit card:

• As a welcome gift, the card provides Paytm’s first membership which offers exclusive benefits, and vouchers over and above the regular offers. The membership can be availed upon a minimum one transaction of Rs 100.
• With the Paytm HDFC Bank Business Credit Card you get tons of cash back for your purchases and transactions made on the Paytm App. The card offers  3% cashback on all purchases on Paytm [Recharge + Utility + Movies + Mini App], 2% cashback on all other Paytm spends., and 1% on all other retail transactions (excluding Fuel, EMIs, Rental, and Education Spends).
• The cashback earned is in the form of Cashpoints. These Cash points are redeemable against the outstanding balance as cashback or can be used for redeeming against other categories such as Smartbuy (Flights/Hotels), Airmiles & Product Catalogue.
• Enjoy Rs.250 worth of Gift vouchers upon card activation with 6 transactions in the first 90 days.
• Get up to 20% discount on partner restaurants via Dineout.
• As a milestone benefit, you can get Rs. 500 worth of Gift vouchers on spending a minimum of Rs.1 Lakh in a year.
• The card also offers the spend-based fee waiver, where the First Year Fee can be waived off on spending a minimum of Rs. 30,000 (Non-EMI spending) within the first 90 days of the card issuance, and the renewal fee can also be waived off on minimum spending of Rs. 50,000 or more in the previous year.
• The cardholders can get a 1% waiver on the fuel surcharge applicable on fuel purchases made between Rs. 400 and Rs. 5,000 and the maximum waived amount is capped at Rs. 250 per statement cycle.
• The Paytm HDFC Bank Business Credit Card offers business owners low-cost loans with up to 50 interest-free periods upon issuance.

Paytm HDFC Bank Select Business Credit Card

The Paytm HDFC Bank Select Business Credit Card just like the above is a co-branded card by the HDFC Bank. This card is very well suited for businesses that do a lot of transactions on the Paytm App as it offers premium benefits on the same. The card comes with a little hike in its fee as the benefits provided with the card are also bigger than the lower version. It offers up to 5% cashback on all purchases on Paytm, 3% cashback on Accelerated Categories like (Swiggy, AJIO, Big Basket & Uber), and Cashback of 1% on all other retail transactions. Complimentary Paytm First Membership is also provided with the card as a welcome gift. On top of that, the card offers many great benefits like in business travel where you can enjoy the privilege of domestic airport lounges. Get other benefits like fuel surcharge waiver, milestone benefit, activation benefit, and many more. There are detailed features of the card mentioned below:

• With the Paytm HDFC Bank Select Business Credit Card you get Paytm first membership which comes with exclusive benefits, over and above the regular offers. Paytm First is a premium subscription-based rewards & loyalty program for Paytm users.’
• The reward rate is also higher with the Select card. The card provides 5% cashback on all purchases on Paytm, 3% cashback on Accelerated Categories like (Swiggy, AJIO, Big Basket & Uber), and 1% Cashback on all other retail transactions.
• The card also offers Complimentary access to Domestic Airport Lounges across the country with max capped at 3 visits per quarter.
• Get Rs. 500 worth of Gift vouchers upon card activation with 6 transactions in the initial 3 months. (Non-EMI Spends).
• Get Up to 20% discount on partner restaurants via Dineout.
• A gift voucher upon spending over Rs.2 Lakh in a year worth Rs.1000 .
• Get a spend-based wavier, where the First Year Fee can be waived upon spending Rs.60,000 (Non-EMI spends) within the first 90 days and the Renewal Year Fee can be waived upon spending Rs.1,00,000 (Non-EMI spends) in the 12 months.
• Also, get a 1% waiver on the surcharge applicable on fuel purchases between Rs. 400 and Rs. 5,000, and the maximum waived amount is capped at Rs. 500 per statement cycle.

Read More: Business Vs Personal Credit Cards

Quick Comparison

Now that we have discussed the features of both the cards individually, here is a quick comparison between Paytm HDFC Bank Business Credit Card and Paytm HDFC Bank Select Business Credit Card –

Basis	Paytm HDFC Bank Business Credit Card	Paytm HDFC SELECT Bank Business Credit Card
Reward Rate	Get 3% on all purchases on Paytm [Recharge + Utility + Movies + Mini App]. Get 2% cashback on all other Paytm spends. Get 1% Cashback on all other retail transactions (excluding Fuel, EMIs, Rental, and Education Spends)	5% on all purchases on Paytm [Recharge + Utility + Movies + Mini App + Travel] 3% Cashback on Accelerated Categories like Swiggy, AJIO, Big Basket & Uber. 1% Cashback on all other all other retail transactions (excluding Fuel, EMIs, Rental, Government Spends)
Reward Redemption	Rewards can be redeemed against outstanding balance as cashback or against other categories such as Smartbuy (Flights/Hotels), Airmiles & Product Catalogue.	Rewards can be redeem against outstanding balance as cashback or against other categories such as Smartbuy (Flights/Hotels), Airmiles & Product Catalogue.
Welcome Benefit	Paytm first membership. Rs. 250 worth of Gift vouchers upon card activation with 6 transactions in the first 90 days.	Paytm first membership. Rs. 500 worth of Gift vouchers upon card activation with 6 transactions in the first 90 days.
Fuel Surcharge Waiver	1% waiver on the surcharge applicable on fuel purchases capped at Rs. 250 per statement cycle.	1% waiver on the surcharge applicable on fuel purchases capped at Rs. 500 per statement cycle.
Dining Benefits	Up to 20% discount on partner restaurants via Dineout.	Up to 20% discount on partner restaurants via Dineout.
Milestone Benefits	Rs.500 worth of Gift vouchers upon spending a minimum of Rs.1 Lac in the previous year (Non-EMI Spends).	Rs.1000 worth of Gift Vouchers on spending over Rs.2 Lac in previous year. (Non-EMI Spends)
Travel Benefits	NA	12 Complimentary access to Domestic Airport Lounges across the country in a calendar year (3 visits per Quarter).
Insurance Benefit	NA	NA
Annual Spend-Based Waiver	The First Years Fee can be waived upon spending over a  minimum of Rs. 30,000 (Non-EMI spends) within the initial 3 months of the card issuance. The renewal fee can also be waived upon a minimum spending of Rs. 50,000 or more in the previous year.	First Year Fee waived upon spending Rs.60,000 (Non-EMI spends) within the first 90 days. Renewal Year Fee waived upon spending Rs.1,00,000 (Non-EMI spends) in the 12 months.
Joining and Renewal fees	Rs. 500 + GST	Rs. 1,000 + GST
Eligibility	The age of the applicant should be a minimum of 21 years.· The applicant should own a registered business with a stable income. The credit score of the applicant or his business credit score might also be considered.	The age of the applicant should be a minimum of 21 years. The applicant have to own a registered business with a stable source of  income. The credit score of the business credit score or the applicants might needs to be considered.

Bottom Line

Though both the cards look similar to each other but they do have differences in them in lot many ways. The features of the Paytm HDFC Bank Business Credit Card are very similar to Paytm HDFC Bank Select Business Credit Card, but they are provided in a limited way. Apart from this, the Select card offers additional benefits like complimentary access to domestic lounges and insurance benefits for the cardholder. Also, the reward rate with the Select version is better than the lower version. However, we should not ignore the Joining and Renewal fee for both cards. The Paytm HDFC Bank Business Credit Card has an annual fee of Rs. 500 and the Paytm HDFC Bank Select Business Credit Card has an Annual Fee of Rs. 1,000.

Therefore, the Paytm HDFC Bank Business Credit Card will be beneficial for you in case your rate of transactions on Paytm is normal and you do not need travel benefits for your business, however, the Paytm HDFC Bank Select Business Credit Card will be very beneficial for you if all your transactions are done through the Paytm App and Paytm Mall and also if you want lounge access for your business travels. Otherwise, both the cards are good in their ways, and you should decide as per your requirements. Let us know if you have any doubt regarding these two cards in the comment section below.