PhonePe HDFC Bank Ultimo Credit Card credit card
Rewards

PhonePe HDFC Bank Ultimo Credit Card

HDFC logo HDFC
8.6
CardTrail Score
Very Good
out of 10
Net Value
9.7
Accessibility
8.5
Feature Depth
6.5
Bank Trust
9.0
How we score →
Annual Fee
₹999
Spend Rs 2L/year
Forex Markup
3.5%
Reward Rate
1%
Up to 10%
Lounge Access
2
domestic | 0 intl

About This Card

The PhonePe HDFC Bank Ultimo Credit Card is a RuPay card designed for digital-first spenders. Offers 10% rewards on PhonePe spends and 5% on major online brands, plus UPI rewards at 1%. The Rs 999 fee is partially refundable via PhonePe gift cards. Monthly caps on rewards are the main limitation.

Pros & Cons

Pros

  • 10% rewards on PhonePe ecosystem is exceptional
  • 1% UPI rewards via RuPay CC on UPI
  • Broad 5% category coverage (Amazon, Flipkart, Swiggy, Uber)
  • Domestic lounge access on meeting spend threshold

Cons

  • Monthly reward caps limit actual earnings (1,000 + 500 RP)
  • Lounge access requires Rs 75K quarterly spend gate
  • RuPay network limits international acceptance
  • 3.5% forex markup

Fee Details

Annual Fee
₹999
Joining Fee
₹999
Fee Waiver Condition
Spend Rs 2L/year
Fuel Surcharge Waiver
Yes
EMI Conversion
Yes

Reward Structure

Base Rate
1%
Max Rate
10%
Currency
Reward Points
Welcome Bonus
50% joining fee refund as PhonePe gift card on first RuPay CC UPI txn

Lounge Access

Domestic Lounges
2
per quarter
International Lounges
0
Spend Gate Required
You must spend ₹75,000 per quarter to activate lounge access.

Key Highlights

  • 10% Reward Points on PhonePe spends (recharges, utilities, travel) - capped 1,000 RP/month
  • 5% RP on top brands (Amazon, Flipkart, Swiggy, Zomato, Uber) - capped 500 RP/month
  • 1% RP on Scan & Pay UPI transactions
  • 8 domestic lounge visits/year (2/quarter, requires Rs 75K quarterly spend)
  • RuPay CC on UPI enabled for seamless digital payments

Compare With...

See how PhonePe HDFC Bank Ultimo Credit Card stacks up against top alternatives

Want the Full Picture?

Compare the PhonePe HDFC Bank Ultimo Credit Card side-by-side with any card in our database. Use our comparison tool to see which card truly fits your spending pattern.

CardTrail is an independent research platform. Our ratings are not influenced by commercial relationships.

Active Offers (1)

All offers
Offer 25d left

10% instant discount on Amazon

Get 10% instant discount up to Rs 1,500 on Amazon.in purchases over Rs 5,000. Valid on all HDFC credit cards.

Useful Tools

Calculators and finders relevant to the PhonePe HDFC Bank Ultimo Credit Card

Quick Summary

Best For
upi digital payments
Annual Fee ₹999
Base Reward 1%
Max Reward 10%
Forex Markup 3.5%
Network RuPay
Min Income ₹3L+

CardTrail Score

8.6
/ 10

Scored across rewards, fees, lounge access, forex, and overall value. Methodology.

Best For

upi digital payments phonepe

Own the PhonePe HDFC Bank Ultimo Credit Card?

Get notified when benefits change, fees are revised, or a better alternative launches. One email, only when it matters.

Related Cards

View all cards