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Comparison · हिन्दी

PhonePe HDFC Ultimo vs Axis ACE

Both cards compared on real rupee returns for best utility and everyday cashback credit card India. We ran the numbers so you can make the right call.

Last updated: · Based on current card terms
HDFC
ULTIMO
ASHOK KUMAR
VS
AXIS
ACE
ASHOK KUMAR
Our verdict
PhonePe HDFC Bank Ultimo Credit Card wins for most people
PhonePe HDFC Ultimo wins with ₹9,801 annual benefit versus Axis ACE's ₹5,561, delivering 76% more value despite the higher fee. It excels for users who leverage PhonePe's ecosystem across utilities, dining, and shopping.
Side-by-side comparison
PhonePe HDFC Bank Ultimo Credit Card ✓ Axis ACE Credit Card
Annual benefit ₹9,801 ₹5,561
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) ₹499 + taxes (waived on ₹2L annual spend)
Reward rateCashback pays you directly in rupees; reward points need converting first, and their real value depends on the redemption ratio.Full definition → 10% rewards on PhonePe categories (utilities, travel, movies, recharges); 5% on Swiggy/Zomato/Amazon/Flipkart/Myntra/Uber; 1% on UPI Scan & Pay 5% cashback on utility bills via Google Pay; 4% on Swiggy, Zomato, Ola; 1.5% on all other spends
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) 4 domestic visits/year (on ₹50,000/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% 3.5%
Best for PhonePe app users wanting rewards on utilities, OTT, food delivery and major e-commerce Utility bill payments and everyday flat cashback
Min. incomeThe minimum income, credit score, and other conditions a bank requires before approving your application.Full definition → ₹25,000/month (salaried) ₹3L+ per year
Credit scoreYour 3-digit credit score (300-900), higher scores make approval easier and can unlock better cards.Full definition → 700+ 700+
Apply now ↗ Full review →
Apply now ↗ Full review →
When each card wins
PhonePe HDFC Bank Ultimo Credit Card
PhonePe HDFC Ultimo shines when you pay utilities and bills through PhonePe (10% rewards), use food delivery apps, and shop on major e-commerce platforms regularly. The fee waives at ₹2L annual spend, making it ideal for medium-to-high spenders.
Axis ACE Credit Card
Axis ACE suits those who primarily pay utility bills via Google Pay and want straightforward, uncomplicated cashback without ecosystem dependency. It's best for lower spenders who don't reach the fee waiver threshold.
Who should get which card
Get PhonePe HDFC Bank Ultimo if you…
· PhonePe app users paying utilities monthly for 10% rewards
· Frequent Swiggy, Zomato, and Amazon shoppers
· Those exceeding ₹2L annual spend (fee waived)
Get Axis ACE if you…
· Google Pay utility bill payers seeking 5% cashback
· Low spenders below ₹17k monthly avoiding fee burden
· Users wanting simple, non-app-dependent rewards
Partner offer
HDFC Millennia Credit Card
Online shoppers and food delivery users who buy on Amazon, Flipkart, Swiggy and Zomato
Apply now →
HDFC
ASHOK KUMAR

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Related guides
Tata Neu Plus HDFC vs PhonePe HDFC Bank Ultimo →HDFC Millennia vs Axis ACE →Axis ACE vs SBI Cashback →IDFC FIRST Wealth vs Axis ACE →Best Dining Credit Cards →Best Shopping Credit Cards →Best Credit Cards for Swiggy and Zomato →
Frequently asked questions
Based on our analysis, PhonePe HDFC Bank Ultimo Credit Card offers better annual returns for most spend profiles.
PhonePe HDFC Bank Ultimo Credit Card has an annual fee of ₹999 + taxes (waived on ₹2,00,000/year spend). Axis ACE Credit Card has an annual fee of ₹499 + taxes (waived on ₹2L annual spend).
PhonePe HDFC Bank Ultimo Credit Card offers 10% rewards on PhonePe categories (utilities, travel, movies, recharges); 5% on Swiggy/Zomato/Amazon/Flipkart/Myntra/Uber; 1% on UPI Scan & Pay. Axis ACE Credit Card offers 5% cashback on utility bills via Google Pay; 4% on Swiggy, Zomato, Ola; 1.5% on all other spends.
PhonePe HDFC Bank Ultimo Credit Card lounge access: 8 domestic visits/year (2 per quarter, on ₹75,000/quarter spend). Axis ACE Credit Card lounge access: 4 domestic visits/year (on ₹50,000/quarter spend).
PhonePe HDFC Bank Ultimo Credit Card charges 3.5% forex markup. Axis ACE Credit Card charges 3.5% forex markup.