PhonePe HDFC Bank Ultimo Credit Card
HDFC Bank
Last verified: 24 Sept 2026
Reward Program
| Category | Earn Rate | Monthly Cap |
|---|---|---|
Select PhonePe categories — recharges, utilities, bill payments and travel | 10% | ₹1,000/monthly |
Select online brands — Amazon, Flipkart, Myntra, Ajio, Swiggy, Zomato and Uber | 5% | ₹500/monthly |
All Scan & Pay spends | 1% | ₹500/monthly |
HDFC SmartBuy - flight and hotel bookings (channel, not an MCC: merchant hdfc-smartbuy-travel) | 5% | ₹1,000/monthly |
| All other spends | 0% | No cap |
Redemption fee: 99
Managed via HDFC Bank SmartBuy, HDFC Bank NetBanking
Transfer partners
Live Offers
245 activeBenefits
Lounge Access
2 domestic visits/quarter
0 international visits/quarter
8 complimentary domestic airport lounge visits a year, 2 per quarter, conditional on ₹75,000 of spend in a quarter.
Fuel Surcharge Waiver
Fuel earns NO Reward Points on this card. HDFC also charges 1% on fuel transactions above ₹15,000, capped at ₹4,999 per transaction, w.e.f. 1 October 2025.
Welcome Benefit
5 PhonePe scratch cards worth ₹200 each, for the first 5 UPI-on-credit-card transactions
Welcome benefits are offered only if the joining fee is applicable.
Reward Calculator
Assumes the best-paying merchant everywhere, so read it as a ceiling rather than an average.
What this card is worth
Open a section and enter what you actually spend. Everything updates as you type.
Fees & Charges
| Joining Fee | ₹999/yr |
| Renewal Fee | ₹999/yr |
| Fee Waiver | Spend ₹2,00,000/year |
| Forex Markup | 3.5% |
| Interest Rate | 45% p.a. |
| Cash Advance Fee | 2.5% of the amount withdrawn, subject to a minimum of ₹500. |
| Reward Redemption Fee | 99 |
