PhonePe HDFC Bank Ultimo Credit Card
Fees
₹2,999 + Taxes
Joining & AnnualReward Rate
Up to 10% cashback on PhonePe app travel, bill payments & merchant spending
Welcome Bonus
2,999 PhonePe cashback points on joining fee payment
Lounge Access
8 Domestic/yr (₹75K Qtr Spend)
FindMyCard Expert Take
The PhonePe HDFC Bank Ultimo Credit Card provides up to 10% cashback on PhonePe travel & utility payments with airport lounge access and fee waiver on ₹3 Lakh spend.
Pros & Cons
Key Advantages
- High 10% cashback on PhonePe app utility, recharge & travel bookings
- 8 complimentary domestic airport lounge visits/year (2 per quarter, on ₹75,000 quarterly spend)
- 1.5% uncapped cashback on all other online spends
- Joining fee fully offset by welcome cashback vouchers
Limitations
- ₹2,999 annual fee is relatively high for a co-branded cashback card
- Max benefit requires heavy usage of the PhonePe ecosystem
- Category cashback subject to monthly capping
Editorial Verdict
The PhonePe HDFC Bank Ultimo Credit Card is ideally suited for frequent phonepe app users & premium digital spenders. If you want up to 10% cashback on phonepe app travel, bill payments & merchant spending, this card delivers real value. The ₹2,999 + taxes is easily offset by the card's perks if you use it regularly. You'll generally need Good to Excellent (750+) credit to be approved.
Key Perks & Spending Milestones
10% cashback on PhonePe app for utility bill payments, recharges, flight & hotel bookings
5% cashback on top online partner merchants
1.5% uncapped cashback on all other online retail transactions
1% cashback on offline retail purchases
2 complimentary domestic lounge access visits per quarter
1% fuel surcharge waiver on transactions between ₹400 and ₹5,000
🚀 Milestone Spends Timeline
Annual fee waived on annual retail spends of ₹3 Lakh
Fees & Charging Rates
Annual Fee Waivers
₹2,999 + Taxes
💡 Annual fee waived on ₹3 Lakh annual retail spends
Regular Interest Charges
3.6% per month (43.2% per annum)
📅 Late Payment Fee Penalty Tiers
| Outstanding Balance Amount | Late Payment Fee Penalty |
|---|---|
| up to 500 | Nil |
| 501 to 1000 | ₹500 |
| 1001 to 5000 | ₹600 |
| 5001 to 10000 | ₹750 |
| 10001 to 25000 | ₹900 |
| 25001 to 50000 | ₹1,100 |
| above 50000 | ₹1,300 |
Insurance & Protection Benefits
air accident cover
Up to ₹1 Crore
lost card liability
Up to ₹5 Lakh
purchase protection
Nil
emergency medical cover
Nil
Eligibility Criteria
salaried minimum income
₹50,000 per month
self employed ITR
₹10 Lakh per annum
age
21 to 60 years
Compare PhonePe HDFC Bank Ultimo Credit Card With Similar Cards
| Card | Annual Fee | Reward Rate | Lounge Access | Rating |
|---|---|---|---|---|
| PhonePe HDFC Bank Ultimo Credit Card This Card | ₹2,999 + Taxes | Up to 10% cashback on PhonePe app travel, bill payments & merchant spending | 8 Domestic/yr (₹75K Qtr Spend) | 4.4/5 |
| Cashback SBI Credit Card | ₹999 + Taxes | 5% cashback on online spends; 1% cashback on offline spends | No Lounge Access | 4.7/5 |
| KIWI UPI RuPay Credit Card | Free | Up to 5% cashback on UPI spends via Kiwi Neon program (1.5% base... | Domestic (Neon Spend Milestones) | 4.7/5 |
| Axis Bank ACE Credit Card | ₹499 + Taxes | 5% cashback on Google Pay utilities; 4% on Swiggy, Zomato & Ola;... | 4 Domestic/yr | 4.6/5 |