As the name suggests, the Paytm HDFC Bank Credit Card is a co-branded credit card that is issued by the bank in partnership with Paytm. The bank offers two co-branded credit cards with Paytm, the other one being the Paytm HDFC Bank Card Select, which is the superior version of this card. Talking about the Paytm HDFC Bank Credit Card, it welcomes its customers with the exclusive Paytm First Membership, through which cardholders can enjoy a number of additional benefits and offers on the Paytm app. With this card, you can earn a cashback of 2%-3% on your spends on the Paytm app and a cashback of 1% on all other spends outside Paytm. Moreover, you can earn up to Rs. 1,200 additional cashback every year on achieving the required spend milestone.
Talking about its fees & charges, the card comes with a nominal monthly membership fee of Rs. 49 + GST, which can be waived off if you make retail transactions worth Rs. 5,000 or more in the previous month. The interest charged on the outstanding amount is 3.6% every month, but you can avoid it totally if you pay the full outstanding amount every month within the interest-free period, which can be of up to 50 days on this card. Moreover, you get a 1% fuel surcharge waiver on all your fuel transactions at the authorized stations. To know more about this card, refer to the following Paytm HDFC Bank Credit Card review.
- Joining Fee- Rs. 49 + GST per month
- Renewal Fee- Rs. 49 + applicable taxes (per month)
- Best Suited For- Shopping
- Reward Type- Reward Points
- Welcome Benefits- Get complimentary Paytm First Membership as a welcome gift on making your first transaction worth Rs. 100 or more.
Rewards and Benefits
- Movie & Dining- Up to 20% discount in partner restaurants via Dineout
- Rewards Rate- 3% cashback Paytm mall, Paytm movies & mini app, 2% cash back on other purchases on Paytm app, and 1% cashback on all other spends.
- Reward Redemption- The earned cashback is sent to the cardholders in the form of Paytm vouchers or Redeem your Cashpoints as Cashback along with other redemption options.
- Travel- NA
- Golf- NA
- Domestic Lounge Access- NA
- International Lounge Access- NA
- Insurance Benefits- NA
- Zero Liability Protection- The cardholders have zero liability on any fraudulent transactions made on their card once they report the loss of the card to the bank.
Fees & Charges
- Spend based Waiver- Monthly fee of Rs. 50 is waived off on spending Rs. 5,000 or more in a month.
- Rewards Redemption Fee- Nil
- Foreign Currency Markup- 3.5% on all international transactions
- Interest Rates- 3.6% per month (43.2% per annum)
- Fuel Surcharge- 1% fuel surcharge waiver on all fuel transactions worth Rs. 400 or more.
- Cash Advance Charge- 2.5% of the cash amount withdrawn or Rs. 500 (whichever is higher)
- Add-on Card Fee- Nil
Product Details
- Paytm First membership as a welcome gift.
- Get up to 3% cashback on Paytm recharge, utility, movies, and Mini App spends.
- Get up to 2% cashback on other Paytm spends
- Get up to 1% cashback on other retail spends
- Earn a cashback of up to Rs. 1,200 annually under the milestone program.
- Spend-based waiver of monthly membership fee.
- 1% fuel surcharge waiver up to Rs. 250 per month.
Paytm HDFC Bank Credit Card Features and Benefits
The Paytm HDFC Bank Card is one of the two paytm co-branded cards issued by the HDFC Bank. It comes with a decent cashback and offers several other benefits as follows:
Welcome Benefits
- You get complimentary Paytm First membership as a welcome gift from this card. It is a loyalty and rewards program offering exclusive benefits and deals above the regular offers.
- You can avail of this by making your first transactions worth Rs. 100 or more.
Milestone Benefits
- You get 1% cashback on spending Rs. 10,000 or more in a month.
- The maximum cashback that can be availed in a month is capped at Rs. 100, which means you can earn up to Rs. 1,200 cashback annually.
Spend-Based Waiver
The monthly membership fee of Rs. 49 + GST can be waived off if you spend Rs. 5,000 or more in the previous month.
For customers onboarded after 1st April 2023, joining fee can be waived off on spending Rs. 30,000 inside the first 90 days, and the renewal fee can be waived off on spending Rs. 50,000 in the previous year.
Fuel Surcharge Waiver
- The 1% fuel surcharge is waived off at all fuel stations for all the fuel transactions worth Rs. 400 or more when you pay using your Paytm HDFC Bank Credit Card.
- The maximum fuel surcharge waiver is capped at Rs. 250 per billing cycle.
Paytm HDFC Bank Credit Card Cashback
- You earn a cashback of 3% on your spends on Paytm Mall, Paytm movies, and the Mini app.
- You get a 2% cashback on other select spends on the Paytm app.
- You get a cashback of 1% on all your online and offline retail spends outside the Paytm app.
Note: You don’t earn any cashback on fuel purchases, wallet reloads, rental payments, government spends, and EMI transactions. Cashback on grocery spends is capped at 1000 Cashpoints per month.
Reward Redemption
The cashback earned on the Paytm HDFC Bank Credit Card are given to the cardholder as Cashpoints. Cashpoints can also be redeemed by the customer against outstanding balance as cashback or can be used for redeeming against other categories such as Smartbuy (Flights/Hotels), Airmiles & Product Catalogue.
Redemption of travel reward points is capped at 50,000 per month while cashback redemption is capped at 3000 per month. For select categories, you can redeem reward points only for 70% of the total value and the remaining amount must be paid through your credit card.
Paytm HDFC Bank Credit Card Fees and Charges
The fees and charges associated with the Paytm HDFC Bank Credit Card are as follows:
- The Paytm HDFC Bank doesn’t come with an annual fee, but it charges a monthly membership fee of Rs. 49 plus GST per month.
- The interest rate on this credit card is 3.6% per month or 43.2% annually.
- The foreign currency markup fee on the Paytm HDFC Bank Card is 3.5% of the transaction amount.
- The cash advance charges on this credit card are 2.5% of the withdrawn amount subject to a minimum of Rs. 500.
Paytm HDFC Bank Card Eligibility Criteria
The eligibility criteria required to be approved for the HDFC Bank Paytm Credit Card are as follows:
- The age of the applicants should be a minimum of 21 years.
- The applicant should have a stable source of income, i.e, the applicants should either be salaried or self-employed.
- The applicant should have a decent credit score.
Documents Required
The documents required to apply for the Paytm HDFC Bank Credit Card are as follows:
- Identity Proof: Aadhar Card, Voters Id, PAN Card, Passport, Driving License, etc.
- Address Proof: Utility bills of the latest months, Aadhar Card, Passport, etc.
- Income Proof: Latest bank statements or salary slips in case of salaried individuals, and latest audited ITR in case of self-employed people.
How To Apply For The Paytm HDFC Bank Credit Card?
You can apply for the Paytm HDFC bank Credit Card online as well as offline at your convenience. To apply offline, you can visit your nearest HDFC Bank branch with all the required documents and fill out the physical application form there. To apply online, you can follow a few steps as mentioned below:
- Click on the Apply Now button at the top of the page.
- Under the section ‘Borrow,’ click on ‘Credit Cards.’
- You will be redirected to a new page where all the HDFC Bank credit cards have been categorized under different sections.
- Under the ‘Lifestyle’ section, select the ‘Paytm HDFC Bank Credit Card’ and click on ‘Apply Now.’
- Fill in all the required details and proceed further accordingly.
Conclusion
The Paytm HDFC bank Credit Card is a cashback credit card that is affordable and comes with exciting offers. It charges you a very nominal monthly fee, which too can be waived off on the basis of your total monthly spends. as a welcome gift, you get complimentary Paytm First membership that will allow you to enjoy more rewards and exceptional benefits on the Paytm app. Moreover, you earn an assured cashback on all your spends (except for a few non-retail transactions), i.e, you save something almost every time you make a purchase using it.
So, the card can be considered a great choice for people who use the Paytm app often and want to have a pocket-friendly credit card with maximum benefits. If you have any doubts regarding the card, its fees & charges, or benefits, you can freely ask us in the comment section below!
