Paytm HDFC Bank Credit Card – Benefits, Fees & Eligibility

Paytm HDFC Bank Credit Card

Introduction

The Paytm HDFC Bank Credit Card is a co-branded credit card issued by HDFC Bank in partnership with Paytm, serving as an accessible version compared to its superior counterpart, the Paytm HDFC Bank Card Select. This card welcomes its customers with an exclusive Paytm First Membership, offering a range of additional benefits and offers on the Paytm app. Cardholders can earn a significant cashback of 2%-3% on specific Paytm spends and 1% on all other retail transactions. Additionally, it provides an opportunity to earn up to ₹1,200 in extra cashback annually by achieving spending milestones. The card carries an annual fee of ₹500 plus GST, but this can be waived based on spending. It also offers an interest-free period of up to 50 days on outstanding amounts and includes a 1% fuel surcharge waiver on fuel transactions.

Welcome Benefits

• Paytm First Membership: A premium subscription-based rewards and loyalty program for Paytm users.
• It offers exclusive benefits from leading partnered brands, over and above regular offers.
• Membership can be availed upon a minimum one transaction of Rs. 100.
• Please Note: This feature will not be applicable for customers onboarded on or after 10th September 2024.
• Paytm First Membership is provided by Paytm; for any queries, reach out to Paytm Customer Care.

Fees

• Annual Membership Fee: Rs. 500 + GST.
• Joining Fee: Rs. 500 + GST.
• Renewal Fee: Rs. 500 + GST.
• Spend-Based Waiver:
  • First Year Fee Waiver: Waived upon spending Rs. 30,000 (Non-EMI spends) within the first 90 days. This applies to customers onboarded after 1st April 2023.
  • Renewal Year Fee Waiver: Waived upon spending Rs. 50,000 (Non-EMI spends) in the 12 months period. This applies to customers onboarded after 1st April 2023.
• Rewards Redemption Fee: Nil.
• Foreign Currency Markup: 3.5% on all international transactions.
• Interest Rates: 3.6% per month (43.2% per annum) on outstanding amounts.
• Fuel Surcharge Waiver: 1% fuel surcharge waived on fuel transactions.
  • Applicable on minimum transactions of ₹400 and maximum transactions of ₹5,000.
  • Maximum waiver of ₹250 per statement cycle.
• Cash Advance Charges: 2.5% of the cash amount withdrawn or Rs. 500 (whichever is higher).

Rewards

• Cashpoints Earning:
  • Earn 3% Cashpoints on purchases on Paytm (Recharge, Utility, Movies, Mini App).
    • Maximum Cap: 500 Cashpoints per Calendar Month.
  • Earn 2% Cashpoints on all other select Paytm Spends.
    • Maximum Cap: 500 Cashpoints per Calendar Month.
  • Earn 1% Cashpoints on all other Retail Spends (online and offline outside the Paytm app).
    • Maximum Cap: 1000 Cashpoints per Calendar Month.
• Milestone Benefit:
  • Earn 1% Cashpoints upon spending Rs. 10,000 every month.
  • This is applicable on Non-EMI, Non-Wallet, and Non-Rental Spends.
  • Capped at 100 Cashpoints per month, which means you can earn up to ₹1,200 cashback annually.
• Fuel Surcharge Waiver:
  • 1% fuel surcharge is waived at all fuel stations for fuel transactions worth ₹400 or more.
  • Maximum fuel surcharge waiver is capped at ₹250 per billing cycle.
• Movies & Dining:
  • Up to 20% discount in partner restaurants via Dineout.
• Cashpoint Accrual: Cashpoints for a particular calendar month shall be accrued in your card account in the first week of the subsequent month on a cumulative basis.
• Exclusions for Cashpoints:
  • Fuel transactions.
  • EMI transactions.
  • Wallet loads.
  • Rent payments.
  • Government related transactions.
  • Education Payments made through third-party apps (e.g., CRED, Cheq, MobiKwik).
  • Online Skill Based gaming transactions (effective from 1st July 2025).
  • Cashback on grocery spends is capped at 1000 Cashpoints per month.

Rewards Redemption Guide

• The cashback earned on the Paytm HDFC Bank Credit Card is given to the cardholder as Cashpoints.
• Cashpoints can be redeemed by the customer against the outstanding balance as cashback.
• Cashpoints can also be used for redeeming against other categories such as Smartbuy (Flights/Hotels), Airmiles, and Product Catalogue.
• Redemption of travel reward points is capped at 50,000 per month.
• Cashback redemption is capped at 3000 per month.
• For select categories, you can redeem reward points for only 70% of the total value, and the remaining amount must be paid through your credit card.

Card Eligibility Criteria

Eligibility Rules

• Age: Minimum age of applicants should be 21 years.
• Income: Applicants should have a stable source of income (either salaried or self-employed).
• Credit Score: Applicants should have a decent credit score.

Documents Required

• 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:
  • For salaried individuals: Latest bank statements or salary slips.
  • For self-employed individuals: Latest audited ITR.

Card Review

The Paytm HDFC Bank Credit Card is positioned as an affordable cashback credit card with appealing offers. It ensures savings on nearly all spends (with a few non-retail transaction exceptions) by providing assured cashback. This card is an excellent choice for individuals who frequently use the Paytm app and seek a budget-friendly credit card that offers maximum benefits for their digital transactions.

Pros

• Highly beneficial for daily users of the Paytm app.
• Offers decent cashback and promotional offers on transactions made through Paytm.

Cons

• Does not include lounge access.
• The cashback rate of 1% on general retail transactions (outside eligible categories) is comparatively low.

Important Product Details

• Welcome gift of Paytm First membership.
• Up to 3% cashback on Paytm recharge, utility, movies, and Mini App spends.
• Up to 2% cashback on other select Paytm spends.
• Up to 1% cashback on all other online and offline retail spends.
• Opportunity to earn up to Rs. 1,200 annually through the milestone program.
• Annual membership fee waiver based on spending.
• 1% fuel surcharge waiver up to Rs. 250 per month.
• No lounge access benefit.
• Cashback on transactions outside eligible categories is relatively low at 1%.
• Transactions excluded from earning Cashpoints include fuel, EMI, wallet loads, rent payments, government-related transactions, education payments via third-party apps, and online skill-based gaming transactions (effective July 1, 2025).
• Cashback on grocery spends is capped at 1000 Cashpoints per month.
• A foreign currency markup fee of 3.5% applies to international transactions.
• The interest rate on outstanding amounts is 3.6% per month (43.2% annually).
• Cash advance charges are 2.5% of the withdrawn amount, with a minimum of ₹500.

Other Details

• Zero Cost Liability: If the card is lost, report it immediately to the 24-hour call centre to incur zero liability on any fraudulent transactions made on the card post-reporting.
• Free Credit Period: Cardholders can avail up to 50 days of interest-free credit on their Credit Card.
• Revolving Credit: Available at a nominal interest rate on the Paytm HDFC Bank Credit Card.
• Contactless Payment: The card is enabled for contactless payments, allowing for fast, convenient, and secure transactions at merchant locations that accept contactless cards.
• Smart EMI Facility: Provides an option to convert large spends into EMIs after the purchase.