HDFC Bank
PhonePe HDFC Bank Ultimo Credit Card
Data last verified: 11 October 2026
- Joining fee₹999 + GST
- Annual fee₹999 + GST
- Reward rate1% on most spends; 10% only at partner merchants
Takes you straight to the application. We earn a commission if you are approved, and you pay nothing extra.
- Joining fee₹999 + GST
- Annual fee₹999 + GST
- Fee waiverOn ₹2 lakh spend a year
- Forex markup3.5%
- Interest (APR)3.75% a month, 45% a year
01PhonePe HDFC Bank Ultimo Credit Card Rewards and Benefits
02PhonePe HDFC Bank Ultimo Credit Card Annual Fee and Charges
- Joining fee
- ₹999 + GST
- Annual fee
- ₹999 + GST
- Spend-based waiver
- Annual fee waived on ₹2 lakh spend in a year (rent and wallet loads not counted)
- Rewards redemption fee
- Nil
- Forex markup
- 3.5%
- Interest rate
- 3.75% a month (45% a year)
- Fuel surcharge waiver
- Yes
- Card replacement
- Not published
03What It's Worth, in Rupees
If you spend ₹20,000 a month on this card:
- ₹20,000 on everything else, earning 1%₹200
- Back each month, ₹2,400 a year₹200
- Annual fee with 18% GST (waived at this spend)₹0
- In your pocket each year₹2,400
Worked out from this card's reward rates, caps and fee in our data; a rate limited to named merchants is not counted here. Your own spending will differ: see what this card is worth at your spend.
Good for
- Utility bills only at PhonePe app, recharges, bills, and travel & stays: 10% back, up to ₹1,000 a month
- Online shopping only at Amazon, Flipkart, Myntra, Ajio, Uber, Swiggy, Zomato: 5% back, up to ₹500 a month
- Spending ₹16,667 or more a month: the ₹1,179 fee is waived
- Flyers: 8 airport lounge visits a year
Skip it if…
- you spend less than ₹16,667 a month (₹2,00,000 a year, rent and wallet loads not counted): the ₹1,179 fee is then charged
- most of your spending is fuel, rent, insurance or education: those earn nothing on this card
- you rarely spend on PhonePe app, recharges, bills, and travel & stays: the 10% rate applies only there, everything else earns 1%
- you often pay in foreign currency: 3.5% is added to every foreign spend
- you sometimes pay only the minimum due: interest of 3.75% a month (45% a year) outweighs any reward
04How PhonePe HDFC Bank Ultimo Credit Card earns Rewards
1% on most spends; 10% only at partner merchants.
| Spend category | Rate | Monthly cap | Where it applies |
|---|---|---|---|
| UPI payments (scan and pay) | 1% | No cap | The card's normal rate |
| Online shopping | 1% | No cap | Anywhere else in the category |
| Online shopping, only at listed merchants | 5% | ₹500 | Only at: Amazon, Flipkart, Myntra, Ajio, Uber, Swiggy, ZomatoTerms: 5% Reward Points on select online brands, capped 500 points a month |
| Dining and food delivery | 1% | No cap | The card's normal rate |
| Groceries | 1% | No cap | The card's normal rate |
| Travel: flights, hotels, trains | 1% | No cap | The card's normal rate |
| Fuel | Earns nothing | - | earns nothing on this card |
| Bills and recharges | 1% | No cap | Anywhere else in the category |
| Bills and recharges, only at listed merchants | 10% | ₹1,000 | Only at: PhonePe app, recharges, bills, and travel & stays (flights, bus, trains, hotels)Terms: 10% Reward Points on select PhonePe categories, capped 1,000 points a month |
| Rent | Earns nothing | - | earns nothing on this card |
| Insurance premiums | Earns nothing | - | earns nothing on this card |
| School and college fees | Earns nothing | - | earns nothing on this card |
| Wallet top-ups | Earns nothing | - | earns nothing on this card |
| Taxes and government payments | Earns nothing | - | earns nothing on this card |
| Spend abroad or in a foreign currency | 1% | No cap | The card's normal rate |
| Everything else | 1% | No cap | The card's normal rate |
Terms on the base rate. 1% (1 point = ₹1) on UPI Scan & Pay, QR-code scans only, though on any UPI app, not just PhonePe. Other payment modes and ordinary offline swipes earn nothing. Capped 500 points a month.
05PhonePe HDFC Bank Ultimo Credit Card Lounge Access and Travel
Domestic lounge access is 8 visits a year. Spend Rs 75,000 in the previous quarter for domestic lounge access. Spending abroad carries a 3.5% forex markup; rewards on it: 1% back (the normal rate). See what it costs on your trip
Also on the card. fuel surcharge waiver, airport lounge access.
- Fuel surcharge waiver: 1% fuel surcharge waiver (₹400 to ₹5,000 per txn), capped ₹250/statement cycle
- Airport lounge access: Up to 8 domestic lounge visits a year (2/quarter), each quarter unlocked by ₹75,000 spend in the PREVIOUS calendar quarter
06PhonePe HDFC Bank Ultimo Credit Card Eligibility and Documents
- Age
- 21 to 60 years
- Minimum monthly income
- ₹25,000
07Recent Changes
What HDFC Bank changed on this card recently. The facts on this page already reflect them.
| Date | Change | Before | Now |
|---|---|---|---|
| 1 Aug 2026 | Changed: Welcome benefit restructured into five UPI scratch cardsSource: HDFC Bank | ₹499 PhonePe gift voucher on the first UPI transaction, plus ₹50 on each of the next ten (₹999) | Five ₹200 cashback vouchers (scratch cards), one on each of the first five UPI-on-credit-card transactions of ₹100+ in the PhonePe app (₹1,000) |
| 15 May 2026 | Reduced: Dynamic currency conversion markup raised to 1.75%Source: HDFC Bank | 1% markup | 1.75% markup |
| 1 Jul 2025 | Reduced: 1% fee added on rent, wallet loads and online gamingSource: HDFC Bank | No category surcharge on rent, wallet loads or gaming | 1% on rent (cap ₹4,999 per transaction); 1% on wallet loads and on online skill-based gaming above ₹10,000 a calendar month (cap ₹4,999 a month) |
| 1 Jul 2025 | Reduced: 1% fee on utilities above Rs 50,000 and on third-party education paymentsSource: HDFC Bank | No surcharge on utility or education payments | 1% on utility spends above ₹50,000 a calendar month (cap ₹4,999 a month); 1% on education paid through third-party apps |
| 1 Jul 2025 | Reduced: Insurance reward points capped, online gaming stops earningSource: HDFC Bank | Insurance uncapped on most cards; online skill-based gaming earned points | Insurance capped at 2,000 reward points a month (5,000 on Diners Black, 10,000 on Infinia); online skill-based gaming earns nothing |
See this card's change history → · All card changes in August 2026 →
08Cards Similar to PhonePe HDFC Bank Ultimo Credit Card
PhonePe HDFC Bank Ultimo Credit Card is a utility bills card. The two below are the closest on SkyloFin; open any of them, or put them side by side.
| Feature | PhonePe HDFC Bank Ultimo Credit Card |  HSBC Live Plus Credit Card |  HDFC Bank UPI RuPay Credit Card |
|---|---|---|---|
| Joining fee | ₹999 + GST | ₹999 + GST | ₹99 + GST |
| Annual fee | ₹999 + GST | ₹999 + GST | ₹99 + GST |
| Rewards | 1% on most spends; 10% only at partner merchants | 1.5% base, up to 10% on dining | 0.25% base, up to 0.75% on groceries |
| Domestic lounge | 8 visits a year | 2 visits a year | Not included |
| Forex markup | 3.5% | 1.99% | 3.5% |
| Type | Utility bills | Dining | Grocery |
09Explore More
Card facts last verified 11 October 2026.
Card data sourced via CardAdvisor.in, India Credit Card Facts, CC BY 4.0, adapted by SkyloFin.
Never Miss Your PhonePe HDFC Bank Ultimo Credit Card Bill
The SkyloFin app reads your bank's bill SMS, reminds you before the due date and marks the bill paid when you pay. Free on Android, and your data stays on your phone.
Common Questions
What is the joining fee for the PhonePe HDFC Bank Ultimo Credit Card?
The joining fee is ₹999 + GST. Check the bank's page before you apply, because fees change and promotional waivers come and go.
What is the annual fee for the PhonePe HDFC Bank Ultimo Credit Card?
The annual fee is ₹999 + GST.
Does the PhonePe HDFC Bank Ultimo Credit Card give airport lounge access?
Yes. Domestic lounge access is 8 visits a year. Check the bank's page for the current rules, because lounge programmes change.
Does applying through SkyloFin cost more?
No. You pay the same fees you would pay applying directly with HDFC Bank. We earn a commission from the bank when someone applies through our link, and that is how the site is funded.
SkyloFin is not a bank and does not approve applications. Fees, rewards and eligibility rules are set by the provider and can change without notice. Always read the terms on the provider's site before you apply.
Other options worth a look
See all credit cards
Guides in Plain Words
Short reads that explain how it works before you decide.
Credit CardsTata Neu HDFC Credit Card: Claim Your NeuCoins from 25 November 2026From 25 November 2026, NeuCoins earned on a Tata Neu HDFC Bank credit card no longer reach your Tata Neu account by themselves. You claim them in the Tata Neu App within 12 months, or they expire. Here is what changes, how to claim, and the dates that matter.Read the guide →- GuidesBest Credit Cards Under ₹500 a Year in India (2026)Credit cards with an annual fee of ₹500 or less (before GST) in 2026, ranked by the reward rate each bank states, with fee waivers.Read the guide →
GuidesNo-Cost EMI: What It Really Costs You, With a Worked ExampleNo-cost EMI is not a trick, but it is rarely free. Here is where the money goes: the discount you give up, the processing fee, and GST on the interest, worked out on a Rs 30,000 phone.Read the guide →
