HDFC Bank & PhonePe Launch Ultimo & Uno Co-Branded Credit Cards
HDFC Bank & PhonePe Launch Ultimo & Uno Co-Branded Credit Cards
Now Open for Applications with Launch Benefits
CardIntel Verified Intelligence • Direct Issuer Circular Analysis
Executive Overview
HDFC Bank and PhonePe have co-created two new credit cards: PhonePe HDFC Ultimo and PhonePe HDFC Uno. Ultimo is a RuPay Select card engineered for UPI merchant transactions, offering accelerated cashback on PhonePe app recharges, bill payments, and offline QR merchant codes.
New Product Specifications & Benefits Matrix
| Specification | Standard Proposition | Introductory / Launch Perk | Audited Threshold |
|---|---|---|---|
| Annual / Joining Fee | Tiered by card variant | Welcome vouchers offsetting joining fee | Waivable on spend |
| Reward Rate | Up to 3%–5% accelerated yield | Bonus introductory points on first spend | Standard MCCs |
| Network Rails | RuPay / Visa / Mastercard | Contactless + UPI QR compatibility | Domestic & Global |
Key Promotional Highlights & Slabs
Open for retail applications
Accelerated introductory perks
Portfolio & Value Impact
Expands PhonePe's credit ecosystem alongside existing SBI Card partnerships.
Recommended Cardholder Strategy
Check the PhonePe app 'Credit' hub for digital pre-approved invite status.
How to Avail / Execute This Update
- 1Check legal eligibility criteria (minimum income, CIBIL score >750, age 21–65).
- 2Apply through the bank official portal or mobile application using digital Video KYC.
- 3Activate the physical/virtual card within 30 days of issuance by setting PIN.
- 4Complete the first eligible transaction within 30 days to claim introductory welcome benefits.
Important Terms & Conditions
- •Subject to bank internal underwriting guidelines and credit verification.
- •Welcome vouchers delivered within 60 days of paying the primary joining fee.
- •Terms subject to change per official schedule of charges.
Applicable & Affected Credit Cards
View All Cards →Primary Official Reference: Product Rollout Notice (CardIntel Queue). All market intelligence and tariff dispatches published on CardIntel are cross-referenced directly against official bank filings, schedules of charges, and regulatory circulars.
Articles on CardIntel are permanently preserved without automated deletion after 1 year to maintain an authoritative, chronological archive of credit card policies in India.
View all credit cards, debit cards, official tariff schedules, and customer care escalation protocols for HDFC Bank.
CardIntel never accepts sponsored compensation for rankings. Every credit card score, reward yield calculation, and lounge access gate is evaluated on audited bank MITCs.
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Link & Tap via NFC & QR Payments
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Evaluate Alternative Credit Cards Side-by-Side
Compare affected cards with India's leading alternative reward programs to calculate net annual value, forex markups, and lounge access thresholds based on your personal monthly spend.