PhonePe HDFC Bank Ultimo Credit Card
- Updated On: 1 May, 2026
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.
PhonePe HDFC Bank Ultimo Credit Card
( 4.6 / 5 )
- Joining Fee
- Annual Fee
- Best Suited For
- Reward Type
Rewards Rate
10 RPs/₹100 on Select PhonePe Spends Like Recharges, Bill Payments, Movies, Hotels, Utilities, and More. 5 RPs/₹100 on Brands Like Amazon, Flipkart, Myntra, Ajio, and More. 1 RP/₹100 on Scan & Pay UPI Spends
Welcome Benefits
Get 50% of the Joining Fee Back as a PhonePe Gift Card on Your First RuPay Credit Card UPI Transaction, and the Remaining 50% as 10 Gift Cards on Continued UPI Spends
Rewards and Benefits
Movie & Dining
N/A
Rewards Rate
10 RPs/₹100 on Select PhonePe Spends Like Recharges, Bill Payments, Movies, Hotels, Utilities, and More. 5 RPs/₹100 on Brands Like Amazon, Flipkart, Myntra, Ajio, and More. 1 RP/₹100 on Scan & Pay UPI Spends
Reward Redemption
1 Reward Point = ₹1 (Redemption Against Statement). 1 Reward Point = ₹0.30 When Redeemed for Airmiles, Product Catalogue or Smartbuy
Travel
N/A
Domestic Lounge Access
2 Lounge Visits Each Quarter on Spends of ₹75,000 or More
International Lounge Access
N/A
Golf
N/A
Insurance Benefits
N/A
Fees & Charges
Spend-Based Waiver
Renewal Fee Waiver on Annual Spends of ₹2 Lakh or More
Rewards Redemption Fee
No Charges for Reward Point Redemption Against Statement
Foreign Currency Markup
3.5%
Interest Rates
3.75% Monthly/45% Annually
Fuel Surcharge Waiver
1% Waiver on Transactions Between ₹400 and ₹5,000 (Maximum ₹250 Each Statement Cycle)
Cash Advance Charges
2.5% or ₹500 (Whichever is Higher)
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.
Pros/Cons
Pros
- 10% Reward Points on bill payments via PhonePe up to 1,000 Reward Points, is quite generous. This is a benefit that most of us can take advantage of, as we all have electricity, mobile recharges, and other bills that we need to pay on a regular basis.
Cons
- Although the PhonePe HDFC Ultimo Credit Card offers free airport lounge access, it requires a minimum spending of ₹75,000 or more each quarter, making it suitable only for high spenders.
Joining Benefits
Get a ₹499 PhonePe gift voucher when you make your first UPI payment using the PhonePe HDFC Ultimo Credit Card. Additionally, you will receive ₹50 PhonePe gift cards (via scratch cards) for the next 10 UPI payments made using the PhonePe HDFC Ultimo Credit Card on PhonePe only, excluding the first payment.
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.
FAQs:
What are the annual charges for the PhonePe HDFC Ultimo Credit Card?
The PhonePe HDFC Ultimo Credit Card comes at an annual charge of ₹999 + GST (~₹1,179).
Where can I apply for the PhonePe HDFC Ultimo Credit Card?
The PhonePe HDFC Ultimo Credit Card can only be applied for via PhonePe. This card cannot be applied for directly via HDFC.
Will I earn Reward Points for insurance with the HDFC Ultimo Credit Card?
No, the Phone Pe HDFC Ultimo Credit Card doesn’t offer any Reward Points for insurance payments.
I already have an HDFC Credit Card, can I still apply for the PhonePe HDFC Ultimo Credit Card?
You can apply for a PhonePe HDFC Bank Ultimo Credit Card even if you already have an HDFC Bank Credit Card. However, you must not have submitted any other credit card application within the last 60 days. If you have, you will not be eligible to apply at this time.
