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HDFC Bank · RuPay · हिन्दी

PhonePe HDFC Bank Ultimo Credit Card: full review

The PhonePe HDFC Ultimo is best for PhonePe power users who pay utility bills, recharges and book travel via the PhonePe app. The 10% on utilities (the highest among general cashback cards) and 5% on Amazon/Swiggy/Zomato make it genuinely strong, but the tight monthly caps limit value for heavy spenders.

Apply now ↗Annual fee: ₹999 + taxes
Last updated: October 2026 · Current terms verified
HDFC BANK
RuPay
)))
PHONEPE ULTIMO
ASHOK KUMAR
12/28
₹999 + taxes (waived on ₹2,00,000/year spend)Annual fee
10% rewards on PhonePe categories (utilities, travel, movies, recharges); 5% on Swiggy/Zomato/Amazon/Flipkart/Myntra/Uber; 1% on UPI Scan & PayReward structure
8 domestic visits/year (2 per quarter, on ₹75,000/quarter spend)Lounge access

Key benefits of the PhonePe HDFC Bank Ultimo Credit Card

10 reward points per ₹100 on PhonePe categories: utilities, movies, hotels, travel, recharges, bill payments (capped 1,000 RP/month)5 reward points per ₹100 on Swiggy, Zomato, Amazon, Flipkart, Myntra, Ajio, Uber (capped 500 RP/month)1 reward point per ₹100 on UPI Scan & Pay (capped 500 RP/month)1 RP = ₹1 redeemable as cashback (no redemption fee)8 complimentary domestic lounge visits/year on ₹35,000/quarter spendPhonePe gift card of ₹499 on first RuPay CC on UPI transactionAnnual fee waived on ₹1.5L/year spendRuPay card, works on all UPI apps for credit card payments
Apply now ↗ Min. income: ₹25,000/month (salaried) · Credit score: 700+
Pros and cons
Pros
✓ 10% on utility bills via PhonePe is best-in-class for utilities category
✓ Covers major platforms at 5%: Amazon, Flipkart, Swiggy, Zomato, Myntra, Uber
✓ 1 RP = ₹1 cashback, full value redemption with no fee
✓ RuPay enables UPI credit card payments across all apps
Cons
✗ All caps are very tight, 1,000 RP/month at 10%, 500 RP at 5%
✗ Only on PhonePe app spends for 10% rate, not other payment methods
✗ 3.5% forex, poor for international use
✗ Lounge requires ₹75,000/quarter spend
Quick facts
Issuer HDFC Bank
Network RuPay
Annual feeThe yearly fee a bank charges for holding the card, often waived if you spend enough in a year.Full definition → ₹999 + taxes (waived on ₹2,00,000/year spend)
Joining feeA one-time fee charged when you first get the card, separate from the recurring annual fee.Full definition → ₹999
Lounge accessFree entry to airport lounges, usually limited to a set number of visits per quarter or year.Full definition → 8 domestic visits/year (2 per quarter, on ₹75,000/quarter spend)
Forex markupThe extra fee your bank adds on top of the real exchange rate for any spend in a foreign currency.Full definition → 3.5%
Min. incomeThe minimum income, credit score, and other conditions a bank requires before approving your application.Full definition → ₹25,000/month (salaried)
Min. credit scoreYour 3-digit credit score (300-900), higher scores make approval easier and can unlock better cards.Full definition → 700+
SourceHDFC Bank's PhonePe HDFC Bank Ultimo card page and reward point terms · Last checked October 2026
Recent updates

Added the monthly caps from HDFC Bank's reward terms to our maths: 1,000 points (₹1,000) on PhonePe categories, 500 points on the online brands and 500 points on UPI Scan & Pay. The fee waiver now needs ₹2 lakh of spend, and lounge visits need ₹75,000 a quarter.

Monthly capsNot counted₹1,000 + ₹500 + ₹500
Fee waiver spend₹1.5 lakh₹2 lakh
Lounge spend₹35,000 a quarter₹75,000 a quarter

Corrected how we count grocery and travel: the higher rate only applies to the PhonePe app, but our maths applied it to all grocery and travel spend. These now earn the card's normal 1%; the higher rate is still listed in the card's rewards.

Grocery rate in our maths5% on all grocery1%
Travel rate in our maths5% on all travel1%
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Frequently asked questions
The annual fee for PhonePe HDFC Bank Ultimo Credit Card is ₹999 + taxes (waived on ₹2,00,000/year spend). The joining fee is ₹999.
The main benefits of the PhonePe HDFC Bank Ultimo Credit Card are: 10 reward points per ₹100 on PhonePe categories: utilities, movies, hotels, travel, recharges, bill payments (capped 1,000 RP/month); 5 reward points per ₹100 on Swiggy, Zomato, Amazon, Flipkart, Myntra, Ajio, Uber (capped 500 RP/month); 1 reward point per ₹100 on UPI Scan & Pay (capped 500 RP/month); 1 RP = ₹1 redeemable as cashback (no redemption fee); 8 complimentary domestic lounge visits/year on ₹35,000/quarter spend; PhonePe gift card of ₹499 on first RuPay CC on UPI transaction; Annual fee waived on ₹1.5L/year spend; RuPay card, works on all UPI apps for credit card payments.
10% rewards on PhonePe categories (utilities, travel, movies, recharges); 5% on Swiggy/Zomato/Amazon/Flipkart/Myntra/Uber; 1% on UPI Scan & Pay
PhonePe HDFC Bank Ultimo Credit Card is best for PhonePe app users wanting rewards on utilities, OTT, food delivery and major e-commerce. The PhonePe HDFC Ultimo is best for PhonePe power users who pay utility bills, recharges and book travel via the PhonePe app. The 10% on utilities (the highest among general cashback cards) and 5% on Amazon/Swiggy/Zomato make it genuinely strong, but the tight monthly caps limit value for heavy spenders.
The minimum income requirement for PhonePe HDFC Bank Ultimo Credit Card is ₹25,000/month (salaried). A minimum credit score of 700+ is also recommended.
Yes, PhonePe HDFC Bank Ultimo Credit Card offers 8 domestic visits/year (2 per quarter, on ₹75,000/quarter spend).
PhonePe HDFC Bank Ultimo Credit Card charges a 3.5% foreign currency markup on international transactions. This is in line with the standard 3.5% charged by most Indian credit cards.
Related guides
Best Dining Credit Cards →Best Shopping Credit Cards →Best Credit Cards for Swiggy and Zomato →Best Credit Cards for Amazon and Flipkart →Best Credit Cards for Utility Bill Payments →
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PhonePe HDFC Bank Ultimo₹999 + taxes
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