Skip to content

Utkarsh Small Finance Bank Wish Credit Card

The Wish Credit Card is an innovative, simple, and rewarding offering brought about by the collaboration between Utkarsh Small Finance Bank and PhonePe. This lifetime free card comes with zero joining and annual charges and offers rewards on bill payments, UPI transactions, and more when made through PhonePe. Being a secured credit card, it can be obtained by making a simple fixed deposit of a low amount.

With a fixed deposit as low as ₹2,000, you can get your first credit card and start building your CIBIL journey with the Wish PhonePe Credit Card. Offering over 3% rewards on spends and zero annual charges, this is a must-have card for beginners. Keep reading our review of the Utkarsh Small Finance Bank Wish Credit Card to learn more about it.

Utkarsh Small Finance Bank Wish Credit Card

( 4.5 / 5 )
Utkarsh Small Finance Bank Wish Credit Card
  • Joining FeeNil
  • Annual FeeNil
  • Best Suited ForShopping, UPI
  • Reward TypeReward Points

Rewards Rate

3% RPs on PhonePe Bill Payments & Recharges. 1% RPs for UPI Payments and Select Online Brands

Welcome Benefits

N/A

Movie & Dining

N/A

Rewards Rate

3% RPs on PhonePe Bill Payments & Recharges. 1% RPs for UPI Payments and Select Online Brands

Reward Redemption

N/A

Travel

N/A

Domestic Lounge Access

N/A

International Lounge Access

N/A

Golf

N/A

Insurance Benefits

N/A

  • Spend-Based Waiver

    N/A

    Rewards Redemption Fee

    N/A

    Foreign Currency Markup

    3.5%

    Interest Rates

    3% Per Month (36% Annually)

    Fuel Surcharge Waiver

    N/A

    Cash Advance Charges

    5% or ₹25, Whichever is Higher

    • This is a secured credit card.
    • The Wish Credit Card has zero joining and annual charges.
    • This is a co-branded offering by Utkarsh Small Finance and Phone Pe.
    • Earn 200 Reward Points on monthly spends of ₹15,000 or more.

    Pros

    • For a secured credit card, this card offers a useful reward rate of 3% for bill payments made via PhonePe.

    Cons

    • Except for bill payments, there aren’t any categories that are eligible for accelerated rewards.

  • Earn Reward Points on Spends

    • With the Wish PhonePe Credit Card, you can earn 3% Reward Points on Mobile Recharge, FASTag, DTH, Cable TV, Electricity, Mobile Postpaid, Broadband/Landline, Prepaid Meter, and Piped Gas via PhonePe Bill Payments. The reward earning for this bill payment category is capped at 200 reward points per statement month.
    • The card also gives 1% Reward Points on spends made with Preferred Merchants like Amazon, Flipkart, Myntra, Ajio, Nykaa, Swiggy, Zomato, District, and Urban Company when you pay through PhonePe. You can earn up to 150 Reward Points per month in this category.
    • You’ll also earn 1% Reward Points on payments made at offline stores using Scan & Pay via PhonePe, with a limit of 150 Reward Points per month.
    • Cashback or reward points apply only to transactions of ₹100 or more.

    Exclusions

    The following categories are excluded from reward earning:

    • Government-related transactions
    • Agriculture and contractor services (MCCs)
    • Rent payments, wallet loads, gift or prepaid card loads, and voucher purchases
    • Purchase of gold or jewellery
    • Insurance, post office, transit, and utility payments
    • Education-related payments
    • Fuel transactions
    • Cash advances
    • All EMI transactions

    Milestone Rewards

    When you spend ₹15,000 or more in a statement month through any mode of transaction, you’ll earn an additional 200 reward points.

    Wish Credit Card Benefits

    Bottom Line

    The Utkarsh Small Finance Bank Wish Credit Card is a great option for beginners. If you’re applying for your first credit card, you can simply open a small fixed deposit with the bank and get a credit card against it. You’ll not only receive a spending limit based on your deposit but will also continue to earn regular interest on that fixed deposit.

    You’ll also earn reward points on bill payments made through PhonePe, which makes it even more rewarding. With its simple features, decent reward rate, and no joining or annual charges, this card is one of the best choices for first-time credit card users.

    FAQs:

    There are no joining or renewal fees associated with the Utkarsh PhonePe Wish Credit Card.

    No, the Wish PhonePe Credit Card does not offer any rewards on wallet loads.

    Leave the first comment