Paytm is one of the leading mobile payment apps and e-wallets in India, with which many banks has launched co-branded credit cards in collaboration with, such as HDFC Bank and as well as SBI Bank. The two banks are at the height of the financial market and are known for their financial services, along with the great credit cards issued by the banks.
Paytm HDFC Bank SELECT Credit Card is a great credit card for people who are very interested in shopping. The card comes with a membership fee of Rs. 1,000; the card offers excellent benefits in shopping, travel, fuel, and other benefits such as Milestone and Annual fee waiver benefits. The Benefit gets doubled when you make purchases through the Paytm App, as the card offers cashback for purchases made on Paytm Mall, Movies, and for other purchases made via Paytm. On the other hand, the Paytm SBI Credit Card Select comes with a membership fee of Rs. 1,499 and offers somewhat the same benefits as the Paytm HDFC Select Card. However, over and above that, we also get to see other benefits like priority passes and insurance benefits.
Both the cards are similar to each other but specialise in their ways. Let’s explore both cards more and compare each other.
Paytm HDFC Bank SELECT Credit Card
The Paytm HDFC SELECT Credit Card is one of the popular credit cards offered by HDFC Bank. The Card is a co-branded card resulting from a collaboration between HDFC Bank and Paytm. The Paytm HDFC SELECT Card is best suited for those who love shopping and making purchases on the Paytm App, as it offers tons of cash back for every transaction you make. As a welcome gift, you get a complimentary membership of the Paytm First loyalty program, which comes with exclusive benefits over and above the regular offers. Apart from the cashback, the card also offers many other benefits, like travel, where you can enjoy complimentary access to domestic airport lounges. Also, the joining and the annual fee for the card can be waived upon achieving the target spending with the card. Below mentioned are the detailed features and benefits of the Card:
- Get a Paytm first membership, which comes with exclusive benefits over and above the regular offers. The membership can be availed by performing one transaction of Rs. 100.
- The card offers 5% cash back for purchases made on Paytm Mall, Movies, and Mini apps and 2% cash back for transactions made via Paytm. Also, you get 1% cash back for other retail spending made with the card.
- The cashback earned with the card is credited as cashpoints, which can be redeemed against the outstanding statement balance of the card as cashback or can be used for redeeming against other categories like Smartbuy (for Flights/Hotels), Airmiles & Product Catalogue.
- On spending Rs. 50,000 or more in a quarter with the card, you get a gift voucher worth Rs. 500. You have the option to choose the type of voucher you want, like in Health & Wellness, Shopping, Entertainment, Food delivery, and many other categories.
- The joining fee of Rs. 1,000 can be waived upon spending Rs. 50,000 or more within 90 days of card activation. Likewise, the Annual fee can also be waived upon spending Rs. 1,50,000 or more in the last year.
- You are entitled to get 8 complimentary domestic lounge access in a year. You can use the visit a maximum of 2 times per quarter.
- The card also offers a 1% fuel surcharge waiver for fuel transactions above Rs. 400. You can avail of up to Rs. 500 waiver per statement cycle.
Paytm SBI Credit Card Select
The Paytm SBI Credit Card Select is also a co-branded card by SBI Bank in partnership with Paytm. If you love shopping from Paytm Mall or use Paytm for making payments, then this card is what you are missing out. The card comes with complimentary Paytm First Membership. You get cashback for every purchase you make on Paytm Mall, and for every other purchase on the Paytm App. On top of that, for travelers, the card offers complimentary Domestic Airport Lounge access. Moreover, you get the Insurance coverage worth Rs. 2 Lakhs for Cyber Fraud. Let’s know more about the card with the following features:
- As a welcome benefit, the card offers complimentary Paytm First Membership which can be activated after a retail transaction. Also, receives a cashback of Rs. 750 as welcome gift in your Paytm wallet upon activation of the card.
- For every purchase made on Paytm Mall, Movies or travel the card offers 5% cashback on the transaction amount and 2% cashback for every other purchase made on Paytm App.
- On spending Rs. 1 lakh or more in a year, you can get the Paytm First membership renewed.
- Get E-Gift Vouchers from Bata/ Hush Puppies and Pantaloons worth Rs. 2,000 on spending Rs. 4 Lakhs or more in a year. You can get the same voucher worth Rs. 4,000 on spending Rs. 6 Lakhs or more in a year.
- Get 4 complimentary Domestic Airport Lounge access in a year with the Paytm SBI Credit Card Select. Also, the cardholder is entitled to get a Complimentary Priority Pass worth US $99 for atleast 2 years. With the pass, you can access International Priority Pass Lounges with a visit charge of $27 plus taxes.
- You also get a Cyber Fraud Insurance covers financial loss due to any kind of fraudulent transactions worth up to Rs. 2 Lakhs made on the card.
Check here: Paytm SBI Credit Card Select Review
We have discussed in detail both the Paytm Cards, let’s now have a quick comparison between the two cards:
|Paytm HDFC Bank SELECT Credit Card
|Paytm SBI Credit Card Select
|Cashpoints are redeemable against outstanding balance as cashback or can be used for redeeming against other categories like Smartbuy (Flights/Hotels), Airmiles & Product Catalogue.
|Cash back is directly credited to the account.
|Paytm first membership
|Gift voucher worth up to Rs. 500 upon spending Rs. 50,000 or more in a quarter.
|E-Gift Vouchers from Bata/ Hush Puppies and Pantaloons worth Rs. 2,000 on spending Rs. 4 Lakhs or more in a year. Get the same voucher worth Rs. 4,000 on spending Rs. 6 Lakhs or more in a year.
|Spend Based Annual fee waiver.
|Fuel Surcharge waiver
|1% across all petrol stations in India for transactions above Rs 400.
|1% fuel surcharge waived off.
|8 complimentary domestic lounge access every year.
|4 complimentary Domestic Airport Lounge access in a year.
|Rs. 1,000 (Plus Applicable taxes)
|Rs. 1,499 (Plus Applicable taxes)
|Rs. 1,000 (Plus Applicable taxes)
|Rs. 1,499 (Plus Applicable taxes)
Now you must have understood the features of both these cards, their features and what they offer. Though both the cards are almost the same, we still get to see the difference in Paytm HDFC Bank Select Credit Card, where you get more access to domestic lounges than the Paytm SBI Select card and also the Paytm HDFC Bank Select Credit Card offers the spend- based annual fee wavier whereas the latter does not. Moreover, the fee difference between the two is also noticeable. Therefore, if you do a lot of transactions on Paytm then you must consider having any of these cards. Paytm HDFC Bank Select Credit Card would be a good choice as it comes with a lower fee and the same benefits.