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HDFC Bank has partnered with Paytm to launch three personal credit cards- Paytm HDFC Select Credit Card, Paytm HDFC Bank Credit Card and Paytm HDFC Bank Mobile Credit Card– along with two business credit cards. Of the three personal credit cards, Paytm HDFC Select Credit Card is the most premium offering by the bank in collaboration with Paytm.

Paytm HDFC Select Credit Card comes with an annual fee of Rs. 1,000 and offers a maximum reward rate of 5% (on spends on Paytm Mall/Movies/Mini apps). The card also offers a complimentary Paytm First membership and 8 complimentary lounge access at domestic airports across the country. Read on to learn more about this co-branded offering by HDFC and Paytm.

Paytm HDFC Select Credit Card
(4.5/5)

Joining Fee

Rs. 1,000 + GST

Renewal Fee

Rs. 1,000 + GST

Best Suited For

Shopping |

Reward Type

Reward Points

Welcome Benefits

Complimentary Paytm First membership

Movie & Dining

5% cashback on Paytm Movies & 20% discount via Dineout

Rewards Rate

5% cashback on all spends on Paytm Mall/Movies/Mini app, 3% accelerated cashback on select brands like Ajio, BigBasket, Swiggy & Uber, 1% cash back on all other eligible retail spends

Reward Redemption

Redeem your Cashpoints as Cashback along with other redemption options.Re.1 Cashpoint =Re.1 Cashback for redemption against the statement balance. Re.1 Cashpoint = Re.0.3 for redemption against travel benefits like Flight & Hotel bookings and Rewards Catalogue at the SmartBuy Rewards Portal.

Travel

Complimentary domestic airport lounge access

Domestic Lounge Access

8 complimentary domestic airport lounge access every year (max 2 per quarter)

International Lounge Access

N/A

Golf

N/A

Insurance Benefits

N/A

Spend-Based Waiver

Joining fee waived off on spending a minimum of Rs. 50,000 within the first 90 days of card issuance, annual fee (second year onwards) waived off on the expenditure of a minimum of Rs. 1.5 lacs in the preceding 12 months.

Rewards Redemption Fee

Nil

Rewards Redemption Fee

Nil

Foreign Currency Markup

3.5% of the transaction amount

Interest Rates

3.6% per month or 43.2% annually

Fuel Surcharge

1% fuel surcharge waived off on fuel purchases of a minimum of Rs. 400 (maximum waived amount capped at Rs. 500 per month)

Cash Advance Charges

2.5% of the transaction amount (subject to a minimum charge of Rs. 500)

  • Complimentary membership of the Paytm First loyalty program as a welcome benefit.
  • 5% cashback on all purchases at Paytm Mall/Movies/Mini app.
  • 2% cashback on all other spends on Paytm.
  • 1% cashback on all other retail spends with the card.
  • 8 complimentary domestic airport lounge access across the country (max 2 per quarter).
  • Gift vouchers worth Rs. 500 on the quarterly expenditure of a minimum of Rs. 50,000.
  • Joining fee waived off on spending a minimum of Rs. 50,000 within 90 days of card issuance.
  • Annual membership fee of the card (second year onwards) waived off on a minimum expenditure of Rs. 1.5 lacs in the preceding year.

Pros

  • Most premium variant out of the HDFC Paytm co-branded cards
  • Complimentary Paytm First membership, 5% cashback on Paytm purchases, and 2% cashback on other spends made via Paytm
  • 8 complimentary domestic lounge access, max twice per quarter

Cons

  • Milestone benefits could have been better
  • The rate of cashback is just 1% on non-Paytm spends
  • There are several better cards at Rs. 1000 membership fees

Paytm HDFC Bank Select Credit Card Features and Benefits

Paytm HDFC Select Credit Card, which is the most premium of the three Paytm co-branded credit cards by HDFC, apart from earning cashback, also offers a number of additional benefits like complimentary Paytm First membership, gift vouchers, travel benefits, etc.

Welcome Benefit

You get a complimentary membership of the Paytm First program with the Paytm HDFC Select Credit Card.

Milestone Benefit

  • Gift vouchers worth Rs. 500 on spending a minimum of Rs. 50,000 (only non-EMI spends considered) in a calendar quarter. The gift voucher can be chosen from the Health & Wellness, Shopping, Entertainment, Food delivery, etc. categories.
  • The joining fee (first year’s membership fee) of the card is waived off on a minimum expenditure of Rs. 50,000 in the first 90 days of card issuance.
  • The annual renewal fee (second year onwards) of the card is waived on an expenditure of a minimum of Rs. 1.5 lacs in the preceding year.

Travel Benefits

Paytm HDFC Bank Select Credit Card entitles the cardholder to 8 complimentary lounge access every year (max 2 per quarter) at domestic airports across India.

Fuel Surcharge Waiver

You get a 1% waiver on the surcharge applicable on fuel purchases made with HDFC Paytm Select Credit Card. The waiver is applicable only on fuel transactions greater than Rs. 400, and the max waived amount is capped at Rs. 500 per statement cycle.

Paytm HDFC Select Credit Card Rewards

Paytm HDFC Bank Select Credit Card is a cashback-based credit card. As it is a Paytm co-branded card, the cashback earned is given as Paytm Gift Vouchers. You earn as cashback of-

  • 5% on all spends with the Paytm app (Recharge, Utility, Travel, Movies & Mini App). The maximum cap is Rs. 1500 per month.
  • 3% on select brands like Ajio, Swiggy, Uber and BigBasket. The maximum cap is Rs. 500 per month.
  • 1% on all other retail spends with the card, and the maximum cap is Rs. 2,000 per month.
  • No cashback is earned on fuel, rental payments, and government spends.

Reward Redemption

The cashback earned on the Paytm HDFC Bank Select Credit Card is given to the cardholder as Cashpoints. The customer can also redeem cash points against an outstanding balance as cashback or can be used for redeeming against other categories such as Smartbuy (Flights/Hotels) and Airmiles & Product Catalogue.

Paytm HDFC Select Credit Card Fees & Charges

  • Annual Fee: HDFC Bank charges an annual fee of Rs. 1,000 (plus applicable taxes) for Paytm HDFC Bank Credit Card.
  • Cash Advance Fee: HDFC Bank levies a cash withdrawal fee of 2.5% of the withdrawn amount (subject to a minimum fee of Rs. 500) on cash withdrawals with the card from ATMs.

Add-on Cards

You can get up to 4 add-on credit cards with your Paytm HDFC Bank Credit Card for no extra fee.

Advantages of Paytm HDFC Bank Select Credit Card

  • Paytm First Membership: You get a complimentary annual membership of the Paytm First loyalty program with the Paytm HDFC Bank Select Credit Card that entitles you to exclusive discounts and deals on Paytm and partner brands.
  • Gift Voucher: You get a complimentary gift voucher worth Rs. 500 on spending a minimum of Rs. 50,000 with the card in a given quarter (thus a maximum benefit of RS. 200 in a year).
  • Domestic Airport Lounge Access: Paytm HDFC Select Credit Card also entitles cardholders to complimentary access to domestic airport lounges across the country.

Drawbacks of Paytm HDFC Bank Select Credit Card

  • HDFC Paytm Select Credit Card might not be a good pick for you if you do not spend on Paytm/Paytm Mall frequently, as the reward rate that the card offers on other merchants is just 1%.
  • The membership fee of the Paytm HDFC Select Credit Card is Rs. 1,000/annum, which is higher than its competitors like Amazon Pay ICICI Bank Credit Card (lifetime free) and Flipkart Axis Bank Credit Card (Rs. 500/annum). While ICICI Bank Amazon Pay Credit Card does not offer any complimentary airport lounge access, Flipkart Axis Bank Card does come with 4 complimentary airport lounge access per annum.

Paytm HDFC Bank Select Credit Card Customer Care

HDFC Bank provides 24×7 customer care support to its credit card customers. Cardholders can dial the bank’s 24×7 helpline numbers 1860 267 6161 or 61606161 (prefix STD code) to report the loss of the card to the bank or in case any assistance is required. Cardholders travelling abroad may dial 022 61606160 to reach HDFC’s overseas customer care desk.

Paytm HDFC Bank Select Credit Card Review

The Paytm HDFC Bank Select credit card is a co-branded offering and is perfect for people who regularly use Paytm to make spends. It is the most premium variant out of all the co-branded cards issued by Paytm and HDFC Bank and is available at an Rs. 1000 joining fee. Along with a complimentary Paytm First membership, you get 5% cashback on Paytm purchases and 3% cashback on popular brands like Ajio, Swiggy, BigBasket and Uber.

Apart from this, you get 1% cashback on spends elsewhere and up to 8 complimentary domestic lounge access, max twice per quarter. You can even get the joining fee waived on spending Rs. 50,000 within 90 days and a renewal fee waiver on spending Rs. 1.5 Lakhs in the anniversary year. If you use Paytm regularly in your daily life, then this credit card is the right choice for you.

FAQs:

Paytm HDFC Select Credit Card earns you a cashback of 5% on spends on Paytm Mall/Movies/Mini apps, 2% cashback on other Paytm spends, and 1% cashback on all other retail spends.
You can get up to 4 complimentary add-on credit cards with Paytm HDFC Select Credit Card.
The cashback earned on Paytm HDFC Select Credit Card is gives as Paytm Gift Vouchers.
Paytm Gift Vouchers can be redeemd for spends on Paytm or anywhere Paytm is accepted as a payment method.
Yes, you get 8 complimentary domestic airport lounge access every year with Paytm HDFC Select Credit Card. You do not get any international airport lounge access with Paytm HDFC Select Credit Card.
Paytm HDFC Select Credit Card

Paytm HDFC Bank Select Credit Card

(4.5/5)

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