PhonePe Ultimo HDFC Bank Credit Card
About PhonePe Ultimo HDFC Bank Credit Card
The PhonePe HDFC Bank Ultimo Credit Card is designed for consumers who channel the bulk of their monthly household utilities, recharges, travel, and local QR transactions through the PhonePe ecosystem. With a standout 10% return on PhonePe bills and 1 RP = ₹1 direct redemption, users can effortlessly recover over ₹12,000 in net value per year on a disciplined spend profile.
Rewards and Benefits
Verified privileges, welcome benefits, movie discounts, and airport lounge schedules.
| Category | Details & Conditions |
|---|---|
| 📱10% PhonePe Ecosystem | 10% return in Reward Points on PhonePe bill payments, recharges, travel bookings, and Pincode orders (capped at 1,000 RP/month). |
| 🛍️5% Top Online Merchants | 5% return on popular e-commerce platforms including Amazon, Flipkart, Myntra, Swiggy, and Zomato (capped at 500 RP/month). |
| ⚡1% UPI & General Retail | 1% return on everyday UPI QR merchant payments via RuPay and general retail spends (capped at 500 RP/month on UPI). |
| 🛋️Domestic Airport Lounge | 2 complimentary domestic airport lounge visits per calendar quarter, unlocked upon spending ₹75,000 in the previous quarter. |
| ⛽Fuel Surcharge Waiver | 1% fuel surcharge waiver on transactions between ₹400 and ₹5,000 (capped at ₹250 per statement cycle). |
| 🎯Milestone Fee Waiver | Annual renewal fee of ₹999 waived on annual retail spends of ₹2,00,000 or more. |
Fees & Charges
Transparent schedule of annual charges, spend-based reversals, finance APR, and cash advance rates.
| Fee / Charge | Amount & Conditions |
|---|---|
| Spend-Based Waiver | ₹999 + GSTSpend target in anniversary year to reverse renewal fee. |
| Interest Rates / Finance Charges | 3.75% Per Month (45.00% Annually)Standard finance charge applicable on revolving retail balances and ATM cash advances until complete settlement (revised w.e.f. August 2024). |
| Late Payment Charges | Nil (Up to ₹100), ₹100 (₹101–₹500), ₹500 (₹501–₹1,000), ₹600 (₹1,001–₹5,000), ₹750 (₹5,001–₹10,000), ₹900 (₹10,001–₹25,000), ₹1,100 (₹25,001–₹50,000), ₹1,300 (Above ₹50,000)Tiered late payment charge based on total outstanding balance if Minimum Amount Due is not paid by payment due date. |
| Foreign Currency Markup | 3.50% + GSTStandard cross-currency conversion fee applicable on overseas transactions and foreign currency billing. |
| Dynamic Currency Conversion (DCC) | 1.00% + GST Markup FeeApplicable on transactions carried out in Indian Currency (INR) at an international location or overseas-registered merchants. |
| Rewards / Cashback Redemption Fee | ₹0 (Direct Cashback Settlement)Cashback settled directly with zero redemption fee. |
| Fuel Surcharge Waiver | 1% Fuel surcharge waiver on transactions between ₹400 and ₹5,000 (Max ₹250 per statement cycle)Surcharge waiver excludes GST. Valid across all fuel stations in India. Fuel spends do not accrue reward points. |
| High-Value Fuel Spend Surcharge | 1% fee on fuel spends exceeding ₹15,000/month (Capped at ₹4,999/txn)Applicable on cumulative fuel spends above the monthly threshold in a calendar month. Surcharge is capped at ₹4,999 per transaction. |
| Cash Advance Charges | 2.5% of transaction amount or ₹500 (whichever is higher)Domestic & International ATMs. Finance charge of 3.75% p.m. applies from the date of withdrawal until full payment. |
| Overlimit Charges | Nil (Overlimit Facility Not Permitted / Exempt)Overlimit facility is not available or exempt under official card terms. |
| Rental Transaction Surcharge | 1% fee capped at ₹4,999 per transactionProcessing fee levied on rental payments via platforms like CRED, Paytm, NoBroker, etc. (w.e.f. 1st July 2025). |
| Online Skill-based Gaming Surcharge | 1% fee on spends exceeding ₹10,000/month (Capped at ₹4,999/month)Applicable on online skill-based gaming transactions exceeding ₹10,000 cumulative in a calendar month (w.e.f. 1st July 2025). |
| Wallet Loading Surcharge (excl. PayZapp) | 1% fee on loads exceeding ₹10,000/month (Capped at ₹4,999/month)Applicable on wallet loading transactions exceeding ₹10,000 cumulative in a calendar month (PayZapp wallet loading is exempt, w.e.f. 1st July 2025). |
| Utility Payments Surcharge | 1% fee on utility spends exceeding ₹50,000/month (Capped at ₹4,999/month)Levied on cumulative utility bill payments (electricity, gas, water) exceeding the threshold in a calendar month. Capped at ₹4,999/month. |
| Third-Party Education Fee Surcharge | 1% fee capped at ₹4,999 per transaction via third-party appsLevied on school/college fee payments made via third-party apps (CRED, Cheq, NoBroker). Zero fee on direct school/college website or POS transactions. |
| Payment Dishonour / Bounce Charges | 2% of payment amount (Min ₹450)Charged if cheque, ECS, NACH, or auto-debit instruction towards credit card payment is returned or dishonoured. |
| Card Replacement Fee | ₹100 + GSTStandard physical card re-issuance fee for lost, stolen, or damaged card. |
| Cash Payment at HDFC Branch / ATM | ₹100 + GST per transactionService fee charged for paying credit card bill via physical cash deposit at HDFC Bank branches or ATMs. |
| Railway Ticket Booking Surcharge | 1% of transaction amount + GSTStandard IRCTC transaction fee charged on railway ticket purchases. |
Pros & Cons
PhonePe Ultimo HDFC Bank Credit Card Features and Benefits
Comprehensive overview of welcome benefits, quarterly spend bonuses, dining privileges, and renewal fee waiver milestones.
10% PhonePe Power Tier
Earn 10% back on electricity, water, gas, mobile recharges, flight/hotel bookings, and Pincode grocery orders transacted via PhonePe, capped at 1,000 points per billing cycle.
5% Digital Merchant Tier
Earn 5% back on marquee digital merchants including Amazon, Flipkart, Myntra, Swiggy, and Zomato, capped at 500 points per billing cycle.
RuPay UPI Convenience
Link your card to PhonePe or any UPI app to make tap or scan-and-pay merchant transactions with 1% return up to 500 points per month.
Quarterly Spend-Gated Lounge Access
Unlock 2 domestic lounge visits per calendar quarter by achieving ₹75,000 in retail spending in the previous calendar quarter.
PhonePe Ultimo Tiered Earning Engine
All rewards are credited as Reward Points where 1 RP = ₹1, redeemable directly as statement credit or PhonePe vouchers.
Eligibility Criteria for PhonePe Ultimo HDFC Bank Credit Card
The following table illustrates the income-based and age-based underwriting criteria:
| Criteria | Salaried Employees | Self-Employed Individuals |
|---|---|---|
| Age | 21 – 60 Years | 21 – 65 Years |
| Income Proof | Net Monthly Income > ₹25,000 | ITR > ₹6,00,000 Per Annum |
| Credit Score (CIBIL) | 720+ recommended | |
How to Apply for PhonePe Ultimo HDFC Bank Credit Card
Simple 4-step digital application process directly on the official issuer portal:
Check Eligibility
Click "Apply Now" to open the official bank application portal.
Enter Details
Provide your mobile number, PAN, and employment information.
Complete Video KYC
Verify your identity via paperless Aadhaar OTP or a quick 2-minute Video KYC.
Receive Card
Get instant virtual card access and physical card delivery within 5-7 working days.
CardIntel Score v1.1
Objective Card Quality Breakdown
CardIntel Score v1.1 measures structural card quality against a fixed ₹6 lakh annual benchmark. It evaluates 9 factors including Net Ownership ROI, without affiliate commission, editorial preference, or card slug heuristics.
3.09% effective benchmark return
Zero ownership cost with exceptional net return
No monthly or category ceilings
Rewards Catalogue
Domestic (4/5) + Intl (0/3) + Terms (2/2)
3.5% forex markup
Open retail availability
2 benefit pillars qualified
Zero material reward conditions (7/7 pts)
Why this score?
Solid reward return, exceptional net ownership ROI and unrestricted reward cap headroom. The score is reduced by the forex markup and restricted redemption options.
You need to spend at least ₹28,500 per year (₹2,375/mo) on this card to fully recover its annual fee.
4-Layer Financial Intelligence
Card Economics & Net ROI
Evaluating real economic return after accounting for benchmark spending (₹6,00,000/yr), effective annual fee, and verified category caps.
Calculate Your Real Returns
What You'll Actually Earn
Calculated using CardIntel's deterministic reward rules, fee waivers, and merchant accelerated caps.
Frequently Asked Questions (FAQs)
Official guidance on applications, reward redemptions, credit limit assignments, and customer support.
Reward Points can be redeemed 1:1 (1 RP = ₹1) directly against your card statement balance or as PhonePe credit within the PhonePe mobile app.
Verified Bank MITC Provenance
All reward percentages, exclusions, and annual fee waiver rules for PhonePe Ultimo HDFC Bank Credit Card are verified directly against official bank regulatory filings and Most Important Terms and Conditions (MITC).
CardIntel may earn referral fees from eligible application links. These fees never influence CardIntel Scores, rankings, or recommendations.
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