Paytm HDFC Bank Select 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. It comes with Joining and Annual fee of ₹1000. The cashback it offer between 1 to 5% which is not bad. It also offer complimentary lounge access. The 5% cashback on Paytm is an edge so if you do transaction regularly on paytm you must go for this credit card. Please read the below article to know the detail benefits of this card.

JOINING FEE
Rs.1000+GST
RENEWAL FEE
Rs.1000+GST
BENEFITS
8 Complimentary Domestic Lounge access in Year.
REWARDS &CASHBACK
5% Cashback on all spends on Paytm Mall, Movies, Mini app & 3% Cashback on Ajio.

Key Features of Paytm HDFC Bank Select Credit Card

Cashpoints

  • Get 5% cashback on all paytm spends like Recharge, Utilities, Travel, Movies & Mini app. Maximum cashback capping is ₹1500 per statement cycle.
  • Get 3% cashback on brands like Ajio, Swiggy, Bigbasket, Uber. The maximum capping of cashback is ₹500 per statement cycle.
  • Get 1% cashback on all retail spends and maximum capping of cashback is ₹2000 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 Select Credit Card. The waiver is applicable on transaction greater than ₹400 and maximum amount is ₹500 can be waived off per statement cycle.

Travel Benefits

  • Here You will get 8 Complimentary domestic lounge access in a year (maximum 2 per quarter) and there is no spending criteria for lounge access.

Spend Based Benefits

  • Get a gift voucher worth ₹500 on minimum spend of ₹50,000 per calendar quarter. The gift voucher can be chosen from Health& wellness, Food delivery, Shopping, Entertainment, and many more categories.
  • The Joining fee will be waived off on minimum spend of ₹50k in first 90days of card issuance.
  • The annual fee will be waived off on minimum spend of ₹1.5 lakh 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.

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

  • 5% cashback on all purchase of paytm( Recharge, Utility, Travel, Movies)
  • 3% cashback on brands like Ajio, Swiggy, Uber, Bigbasket.
  • 8 complimentary Domestic lounge access in year.

Cons

  • Joining/ Annual is very high compare to other similar credit card.
  • ₹500 voucher on reaching 50K quarterly milestone spends, again which is very less.
  • No cashback on spends such as fuel, Rent etc.
  • Final Thoughts

Paytm HDFC Bank Select Credit Card is a good choice for a customer who regularly do transaction through paytm. It offer 5% value back on paytm and 3% on brands like Ajio, Swiggy, Uber, Bigbasket 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.

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