ELIGIBILITY CRITERIA
• Salaried: Age 21–60 years with Gross Monthly Income > ₹25,000.
• Self-employed: Age 21–65 years with Income ₹26 lakh per annum.
• Not specified on the official page: Minimum credit score requirement or other financial history.
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WELCOME BENEFITS
• PhonePe Gift Card ₹499 on first RuPay CC UPI transaction.
• Additional scratch cards worth ₹50 each on next 10 RuPay CC UPI transactions.
• Minimum transaction ₹100 required to be eligible.
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CARD REVIEW
The PhonePe HDFC Bank Ultimo Credit Card is tailored for digital spenders who frequently use UPI and online platforms, offering strong reward rates on PhonePe app transactions and popular ecommerce brands. With lounges and fuel surcharge waivers, it blends lifestyle and everyday utility benefits. However, the ₹999 annual fee (waivable with high annual spends) and monthly reward caps may limit value for lower spenders. This card is best suited for active UPI users and frequent online shoppers who can maximise reward caps and meet spend conditions to unlock lounge and fee benefits. Reward redemptions offer flexibility through cashback or SmartBuy options
