Welcome benefit
₹1,000Current acquisition offer; subject to issuer programme and fee conditions.
HDFC Bank
PhonePe HDFC Bank Ultimo Credit Card
Premium PhonePe RuPay card with up to 10% rewards, UPI earning and domestic lounge benefits.
✓ SmartCheck VerifiedIssuer-source checked on 18 Sep 2026
This card has been manually reviewed against official issuer sources across fees, rewards, benefits, charges and application status.
RupayPremium
- Annual fee
- ₹999Waived at ₹2 lakh annual spend
- Rewards
- Up to 10% Reward Points on eligible PhonePe categories, 5% at…
- Forex markup
- 3.5%
- Lounge access
- Available
Credofly Verdict
Is this card a good fit?
What works well
- Up to 10% rewards on useful PhonePe categories.
Consider before applying
- Highest reward categories have monthly caps.
Rewards
How rewards work
- Reward type
- Reward Points : Reward Points
- Reward currency
- Reward Points
Key limits & thresholds
- Up to 10% Reward Points on eligible PhonePe categories, 5% at selected online brands and 1% on eligible RuPay credit-card-on-UPI Scan & Pay transactions; monthly caps apply.
Base rewards
Up to 10% Reward Points on eligible PhonePe categories, 5% at selected online brands and 1% on eligible RuPay credit-card-on-UPI Scan & Pay transactions; monthly caps apply.
Redeeming rewards
Minimum redemption 500 RP; maximum statement cashback ₹7,500 per calendar month; reward-point expiry 2 years.
Benefits
Travel and lifestyle privileges
Domestic lounge access
8 complimentary domestic airport lounge visits per year, maximum 2 per quarter, subject to ₹75,000 eligible quarterly spend.
Fees & Charges
What the card costs
- Joining fee
- ₹999
- Annual fee
- ₹999
- Forex markup
- 3.5%
- Annual-fee waiver spend
- ₹2 lakh
Annual-fee waiver
Eligibility & Application
Before you apply
- Application channel
- Online
Frequently Asked Questions
Answers before applying
What is the annual fee for PhonePe HDFC Bank Ultimo Credit Card?
The annual fee is ₹999.
Can the annual fee be waived?
Yes. The annual fee can be waived on annual spending of ₹2 lakh.
What forex markup does this card charge?
The forex markup is 3.5%.
How does this card earn rewards?
Up to 10% Reward Points on eligible PhonePe categories, 5% at selected online brands and 1% on eligible RuPay credit-card-on-UPI Scan & Pay transactions; monthly caps apply.
Does this card include airport lounge access?
Domestic lounge access is included.
Does this card support UPI?
Yes. This card supports UPI.
Is this card currently open for applications?
Applications are currently open.
