PhonePe HDFC Bank Ultimo Credit Card

PhonePe and HDFC Bank have joined hands to launch two rewarding co-branded credit cards, the Ultimo and Uno Credit Cards. These are the first-ever credit cards introduced in collaboration with PhonePe, a popular fintech platform.

The Ultimo Credit Card stands out as an innovative offering, launched at a reasonable joining and annual fee of ₹999 + GST. New cardholders can enjoy welcome benefits equal to the joining fee, effectively offsetting the first-year charges. The PhonePe HDFC Ultimo Credit Card offers generous rewards: 10% Reward Points on key PhonePe spends such as recharges, bill payments, flights, buses, trains, and hotel bookings, and 5% Reward Points on purchases from top platforms like Myntra, Ajio, Amazon, and Flipkart.

Positioned as a UPI RuPay-powered credit card, the Ultimo card is ideal for those who regularly transact via PhonePe. It also offers 1% Reward Points on Scan and Pay UPI spends, a feature that only RuPay cards can offer, making it highly rewarding for day-to-day payments. Adding to its appeal, the card includes complimentary domestic airport lounge access, delivering a premium touch to frequent travelers.

With an annual fee waiver on spends of ₹2 lakh, the PhonePe HDFC Ultimo Credit Card offers excellent value and is a great choice for anyone who wants to maximise rewards on digital and UPI payments.

Product Details

• The PhonePe HDFC Bank Ultimo Credit Card is the ideal credit card for making utility bill payments, spending via PhonePe, and UPI payments.
• Apart from all the savings via PhonePe, cardholders can also earn 5% Reward Points on popular online platforms like Flipkart, Amazon, Ajio, Swiggy, Zomato, and more.
• One can take advantage of free airport lounge access and relax before their journey.
• 1% fuel surcharge waiver allows cardholders to refuel their vehicles without having to pay extra.

Joining Benefits

The PhonePe HDFC Bank Ultimo Credit Card offers 5 cashback vouchers of ₹200 each, issued through scratch cards for eligible UPI transactions. The benefit is applicable only on the first 5 UPI transactions, with a minimum transaction value of ₹100 per transaction, and the transactions must be made through the PhonePe app. This means cardholders can earn up to ₹1,000 in cashback vouchers as part of the welcome benefit.

Up to 10% Reward Points With Ultimo Credit Card

• 10 Reward Points/₹100 spent on recharges, bills, travel (flights, buses, trains, and hotels), and Pincode transactions made through PhonePe. Capping of 1,000 Reward Points per calendar month.
• 5 Reward Points/₹100 for spends on select online merchants like Amazon, Flipkart, Myntra, Ajio, Uber, Swiggy, Zomato. Capping of 500 Reward Points per calendar month.
• 1 Reward Point/₹100 for all scan and pay spends (Rupay CC on UPI spends). Capping of 500 Reward Points per calendar month.

No reward points will be awarded for EMI transactions, fuel, wallet loads, gift cards, cash advances, credit card bill payments, charges, government payments, rental transactions, education fees, insurance, investments, and jewelry purchases.

Redeem Reward Points as Cashback and More

1 Reward Point = ₹1 when redeemed as cashback against the card statement. This is quite beneficial and simplistic. One can make their bill payments and earn direct cashback with the Ultimo Credit Card. Some of the other redemption methods are as follows: 1 Reward Point = ₹0.30 for Redemption as Airmiles, or Against Product Catalogue, or Smartbuy.

Pro Tip: Keep in mind that Reward Points are only valid for a period of one year, and a minimum of 500 Reward Points is required for redemption. 

Free Domestic Airport Lounge Access

The HDFC PhonePe Ultimo Credit Card offers two complimentary domestic airport lounge visits per quarter, provided a minimum spending of ₹75,000 or more is achieved each quarter.

The following categories are excluded from the spend calculation for free airport lounge access.

• Cash Advances
• Credit Card Fees or Any Charges
• All EMI Spends

Final Thoughts

The HDFC PhonePe Ultimo Credit Card is the ultimate everyday-use credit card. We all have regular bill payments, such as electricity and water bills, mobile and DTH recharges, and LPG bookings. This card is most useful for those. With a 10% Reward Rate and a generous cap of 1,000 points per month, this is a great card, especially for middle-class individuals and avid PhonePe users. Not only this, the Ultimo Card also offers 5% Reward Points for purchases made via popular platforms like Swiggy, Zomato, Flipkart, Ajio, Uber, and Myntra. These reward earnings have a separate monthly cap of 500 Reward Points.

From 10% Reward Points on PhonePe spends, 5% Reward Points on select merchants, and 1% Reward Points for UPI spends, this is a credit card worth having. All Reward Points earned can be redeemed for cash (1 Reward Point = ₹1) against the card statement, making the whole process simple, smooth, and extremely rewarding. What’s more? There are no reward redemption charges for cashback against the statement.

Those looking to apply for the HDFC PhonePe Ultimo Credit Card can do so only through the PhonePe app.