PhonePe has finally launched its credit card in collaboration with HDFC bank. They have actually launched two variants, catering to the diverse financial needs of consumers. These credit cards from PhonePe integrate seamlessly with UPI to allow users to pay their daily expenses via credit card.
With so many UPI based credit cards already in the market let us delve deep to know what makes PhonePe Credit cards unique.
PhonePe Credit Card Launch
PhonePe has launched two co-branded UPI credit cards in collaboration with HDFC bank. These credit cards are rolled out in a phased manner. Users can apply for the Credit card digitally via the PhonePe app.
The co-branded credit card helps users earn rewards on daily transactions.
PhonePe Ultimo Credit Card
PhonePe offers two variants Ultimo and UNO for varying consumer segments. With PhonePe Ultimo Credit Card, users get 10% reward points on PhonePe sends. This includes bill payments, recharges, hotel bookings, flight booking, online shopping, cabs and more.
Other benefits includes 5% reward points on online brands like Flipkart, Amazon, Swiggy, Zomato, Myntra, AJIO, and Uber. Users also get 1% reward points on scan and pay transactions.
As a welcome benefit, PhonePe Ultimo Credit card users get Rs. 499 cashback on their 1st UPI payment on PhonePe. Additionally, users also get Rs. 50 on their next 10 UPI transactions on PhonePe.
PhonePe UNO Credit Card
With UNO Credit Card, users get 2% reward points on spends like mobile recharge, bill payments, flight and hotel bookings, online shopping, grocery and more. There is additional 1% reward points on top brands like Amazon, Flipkart, Myntra, Swiggy, Zomato, Uber and AJIO. Users get Rs. 249 cashback on their 1st transaction on PhonePe. And Rs. 25 on their next 10 UPI transactions on the PhonePe App.
How to Apply For PhonePe Credit Card
The PhonePe Credit card is being offered to customers in a phased manner. Eligible users can apply for this co-branded credit card online from the PhonePe app.
- Open the PhonePe App
- Go to Credit Cards section
- Tap on HDFC Credit Card banner
- Submit your application
- Your cord will be issued and linked to your PhonePe account on Approval
Comparison Between PhonePe Ultimo and UNO Credit Cards
Feature |
Ultimo |
Uno |
| Joining Fee | ₹999 + GST |
₹499 + GST
|
| Annual Fee / Renewal Fee | ₹999 (waived if ₹2 lakh annual spend) |
₹499 (waived if ₹1 lakh annual spend)
|
| PhonePe UPI Spends | 10% reward points (capped at 1,000 pts/month) |
2% reward points (capped at 500 pts/month)
|
| Top Online Brands | 5% on Amazon, Flipkart, Myntra, Ajio, Swiggy, Zomato, Uber (capped 500 pts/month) |
1% on same brands (capped 500 pts/month)
|
| Scan & Pay (UPI) | 1% (capped 500 pts/month) |
1% (capped 500 pts/month)
|
| Fuel Surcharge Waiver | ₹1% waiver; max ₹250/month on fuel transactions ₹400–5,000 |
Included (same terms)
|
| Lounge Access | 8 domestic lounges/year (2 per quarter) | Not available |
| Fee Waiver on Renewal | ₹2 lakh spend required |
₹1 lakh spend required
|
| Reward Redemption | 1 RP = ₹1; redeem via SmartBuy/HDFC portal or as cashback |
1 RP = ₹1; redeemable as statement credit (min 500 pts)
|
| Welcome Benefit | ₹499 gift credit + ₹50 over next 10 UPI spends |
₹249 gift credit + ₹25 over next 10 UPI spends
|
Conclusion
The launch of PhonePe credit card provides a useful option for users looking to save on daily expenses. If you are looking for a UPI credit card then it is worth considering this credit card.
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