Paytm HDFC Bank Credit Card

 HDFC Bank and Paytm have launched 4 Co-branded credit card Paytm HDFC Select Credit Card, Paytm HDFC Bank Credit Card, Paytm HDFC Bank Mobile Credit Card, Paytm HDFC Bank Digital Credit Card out of which Paytm HDFC Bank Select Credit Card is premium version. With this credit card you will going to earn 2-3% reward rate on your spend on Paytm and 1% outside Paytm platform. Annually you can earn ₹1200 cashback on achieving the desired milestone. Please read the below article to know the detail about this credit card.

JOINING FEE
Rs.500+GST
RENEWAL FEE
Rs.500+GST
REWARDS &CASHBACK
3% Cashpoint on Purchases on Paytm that is Recharge, utility, Movies, Mini app & 2% Cashpoint on all other Paytm spends.

Key Features of Paytm HDFC Bank Select Credit Card

Cashpoints

  • Get 3% cashback on all paytm spends like Recharge, Utilities, Travel, Movies & Mini app. Maximum cashback capping is ₹500 per statement cycle.
  • Get 2% cashback on other select Paytm spends. The maximum capping of cashback is ₹500 per statement cycle.
  • Get 1% cashback on all retail spends and maximum capping of cashback is ₹1000 per statement cycle.
  • Cashback on grocery spend is capped at 1000 cashpoint per statement cycle.
  • No cashback on Fuel, Rent, Govt.transaction, EMI, wallet load.
  • Education payment done through College/School website or POS Machines will also earn Reward points.

Fuel Surcharge Waiver

  • You will get 1% Fuel surcharge waiver on transaction made through your Paytm HDFC Bank Credit Card. The waiver is applicable on transaction greater than ₹400 and maximum amount is ₹250 can be waived off per statement cycle.

Spend Based Benefits

  • You will get 1% cashback on spending 10,000 or more in a month and the maximum cashback you can earn is ₹100 i.e ₹1200 annually.
  • The Joining fee will be waived off on minimum spend of ₹30k in first 90days of card issuance.
  • The annual fee will be waived off on minimum spend of ₹50k in previous year

Cashpoint Redemption

  • The cashback earned on Paytm HDFC Bank select Credit Card is given as cashpoint. The value of 1 cashpoint = ₹1 if you redeemed against outstanding balance. You can also redeemed on smartbuy( Flight/Hotels), Product catalouge, airmiles but here 1 cashpoint = ₹0.3, so it is advisable to redeem against statement.
  • For certain categories you can redeem 70% of total value and rest 30% you have to pay through your credit card.

Fees & Charges

Foreign Currency Markup

  • The card come with high foreign currency markup fee that is 3.5% of total transaction amount. So if you are looking of any international travel & transaction credit card you can choose other cards that have zero or very less markup fee.

Finance Charges & Cash withdrawal Fee

  • Interest rate is 3.75% per month that is 55.55% per annum.
  • Cash withdawal fee is min Rs.500 upto 2.5% of cash withdrawal amount.
  • Pros & Cons

Pros

  • 3% cashback on all purchase of paytm( Recharge, Utility, Travel, Movies)
  • 2% cashback on all select Paytm spends.
  • 1% cashback on on spending ₹10,000 or more per month.

Cons

  • Overall reward rate is very low compare to other similar credit card.
  • No Airport lounge benefits.
  • No cashback on spends such as fuel, Rent etc.
  • Final Thoughts

Paytm HDFC Bank  Credit Card is a good choice for a customer who regularly do transaction through paytm. It offer 3% value back on paytm and 2% cashback on other select paytm spends but looking at the joining/annual fee may be little disappointing. Paytm also has co-branded credit card with SBI, In SBI you can hold 2 or more credit card but not in case of HDFC so you should go for good credit card in case of HDFC like HDFC Regalia, HDFC Dinner Club etc. overall its depend on you where you spend a lot if you spend more on Paytm, do go with this credit card.

  • Frequently Asked Questions
Which transaction is excluded in cashpoint program?

Fuel, Wallet, Rent, Govt. Transaction, EMI, Cash Advances are excluded in cashpoint program.

The value of 1 cashpoint = ₹1 in case of statement and ₹0.3 in case you redeem against smartbuy(flight/hotel), Airmiles, product catalouge.

Yes, you can redeem only 3000 cashpoint per month.

The validity of cashpoint is of 2 years from the date of credit.

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