Paytm HDFC Bank Select Credit Card – Benefits, Fees & Eligibility

Paytm HDFC Bank Select Credit Card

Introduction

The Paytm HDFC Bank Select Credit Card is a premium co-branded offering by HDFC Bank in partnership with Paytm, tailored for users who frequently transact on the Paytm platform. It stands as the most premium personal credit card among the HDFC Bank-Paytm collaborations. The card comes with an annual fee of Rs. 1,000 and provides a robust reward structure, offering a maximum reward rate of 5% on specific Paytm spends, along with other benefits like complimentary domestic airport lounge access and gift vouchers on milestone spends. This card facilitates fast, convenient, and secure payments through its contactless payment feature.

Welcome Benefits

• Paytm First Membership: Cardholders receive a Paytm First Membership, which is a premium subscription-based rewards and loyalty program. This membership offers exclusive benefits from various partnered brands, over and above regular offers. To avail, a minimum of one transaction of Rs. 100 is required.
• Important Note: Paytm First Membership is provided by Paytm; customers should contact Paytm Customer Care for any queries regarding it. This benefit is not applicable for customers onboarded on or after September 10, 2024.

Fees

• Annual Membership Fee: Rs. 1,000 + GST
• Joining Fee: Rs. 1,000 + GST
• Renewal Fee: Rs. 1,000 + GST
• Spend-Based Fee Waiver:
  • The First Year Annual Membership Fee is waived upon spending Rs. 50,000 (Non-EMI Spends) within the first 90 days of card issuance.
  • The Renewal Year Fee is waived upon spending Rs. 1,50,000 (Non-EMI Spends) in the 12 months period.
• Rewards Redemption Fee: Nil
• Foreign Currency Markup: 3.5% of the transaction amount.
• Interest Rates: 3.6% per month or 43.2% annually for revolving credit.
• Fuel Surcharge Waiver: 1% fuel surcharge waiver on fuel transactions, applicable on a minimum transaction of Rs. 400 and a maximum transaction of Rs. 5,000. The maximum waiver is capped at Rs. 500 per statement cycle.
• Cash Advance Charges: 2.5% of the transaction amount, subject to a minimum charge of Rs. 500.
• Add-on Cards: Up to 4 add-on credit cards are available for no extra fee.
• Revision to Charges: Credit card charges are subject to revision, effective July 1, 2025.

Rewards

• Cashpoints Earning:
  • 5% Cashpoints on purchases on Paytm (Recharge, Utility, Travel, Movies, Mini App), with a maximum cap of 1500 Cashpoints per calendar month.
  • 3% Cashpoints on Accelerated Categories like Swiggy, AJIO, Big Basket & Uber, with a maximum cap of 500 Cashpoints per calendar month.
  • 1% Cashpoint on all other retail transactions, with a maximum cap of 2000 Cashpoints per calendar month.
  • An additional mention of 2% cashback on all other spends on Paytm is noted.
• Exclusions for Cashpoints:
  • Fuel transactions, EMI transactions, wallet loads, rent payments, and government-related transactions will not earn Cashpoints.
  • Education Payments made through third-party apps (including but not limited to CRED, Cheq, MobiKwik) will not earn Cashpoints.
  • With effect from July 1, 2025, online skill-based gaming transactions will not earn Cashpoints.
• Milestone Benefit:
  • Earn Gift Vouchers worth Rs. 500 upon spending Rs. 50,000 (Non-EMI, Non-Wallet, and Non-Rental Spends) every calendar quarter. These vouchers can be selected from categories like Health & Wellness, Shopping, Entertainment, Food delivery, etc.
  • Qualified customers will be communicated for availing Gift Vouchers.
• Lounge Access:
  • 8 complimentary access to Domestic Airport Lounges across the country in a calendar year, capped at 2 visits per Quarter.
  • A charge of ₹2 will be applied to the Credit Card for each lounge access.
  • No complimentary International Lounge Access is provided.
• Movie & Dining:
  • 5% cashback on Paytm Movies.
  • 20% discount via Dineout (details not specified further in the provided content).

Rewards Redemption Guide

• The cashback earned on the Paytm HDFC Bank Select Credit Card is credited as Cashpoints.
• 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.
• Cardholders can redeem Cashpoints as Cashback against their statement balance, where Re. 1 Cashpoint equals Re. 1 Cashback.
• Cashpoints can also be redeemed against travel benefits such as Flight & Hotel bookings and through the Rewards Catalogue at the SmartBuy Rewards Portal, where Re. 1 Cashpoint equals Re. 0.3.

Card Review

The Paytm HDFC Bank Select Credit Card is positioned as the most premium variant among the HDFC Bank-Paytm co-branded cards, making it an ideal choice for individuals who regularly use the Paytm platform for various transactions. It offers a strong reward structure with 5% cashback (Cashpoints) on key Paytm categories like Recharge, Utility, Travel, Movies, and Mini Apps, and 3% cashback on popular accelerated categories such as Ajio, Swiggy, Uber, and BigBasket. For general retail spends, the card provides 1% cashback, with some mentions of 2% cashback on other Paytm spends.

A notable benefit is the provision of 8 complimentary domestic airport lounge accesses per year, capped at two visits per quarter. The card also offers a welcome benefit of Paytm First Membership (for customers onboarded before September 10, 2024) and milestone benefits of Rs. 500 gift vouchers on quarterly spends of Rs. 50,000. The annual fee of Rs. 1,000 can be easily waived by meeting specific spending thresholds: Rs. 50,000 within 90 days for the first year fee and Rs. 1.5 lakhs in the preceding year for the renewal fee.

However, the card does have some drawbacks. The value of milestone benefits could be considered moderate, and the 1% cashback rate on non-Paytm spends is relatively standard, making it less attractive if Paytm is not your primary spending platform. The Rs. 1,000 annual membership fee, while waivable, might be perceived as higher compared to some competitors. Overall, this card is most suitable for heavy Paytm users looking for accelerated rewards and domestic lounge access.

Pros

• Most premium variant among HDFC-Paytm co-branded cards.
• High cashback rates: 5% on Paytm purchases (Recharge, Utility, Travel, Movies, Mini App), and 3% on accelerated categories (Ajio, Swiggy, BigBasket, Uber).
• Includes 2% cashback on other spends made via Paytm.
• Offers 8 complimentary domestic lounge accesses annually, limited to two per quarter.
• Annual fee waiver is achievable through specified spending.

Cons

• Milestone benefits could be more generous.
• The general cashback rate for non-Paytm spends is only 1%.
• The card might not be a good choice for individuals who do not frequently spend on Paytm or Paytm Mall.

Important Product Details

• Maximum reward rate of 5% Cashpoints on purchases on Paytm (Recharge, Utility, Travel, Movies, Mini App), capped at 1500 Cashpoints per month.
• Earn 3% Cashpoints on accelerated categories like Swiggy, AJIO, Big Basket & Uber, capped at 500 Cashpoints per month.
• Receive 1% Cashpoints on all other retail transactions, capped at 2000 Cashpoints per month.
• Includes a reported 2% cashback on all other spends on Paytm.
• No Cashpoints earned on 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).
• Enjoy 8 complimentary domestic airport lounge accesses per calendar year (max 2 per quarter), with a nominal charge of ₹2 per access.
• Gift vouchers worth Rs. 500 on quarterly spends of Rs. 50,000 (excluding EMI, wallet, and rental spends).
• The joining fee can be waived by spending Rs. 50,000 within the first 90 days.
• The renewal fee can be waived by spending Rs. 1,50,000 in the preceding 12 months.
• Comes with Paytm First Membership as a welcome benefit for customers onboarded before September 10, 2024.
• Benefit from 1% fuel surcharge waiver (on transactions between Rs. 400-5,000, max waiver Rs. 500/month).
• Equipped for contactless payments for quick and secure transactions.
• Offers Smart EMI Facility to convert large spends into EMIs post-purchase.

Other Details

• Zero Cost Liability: In case of card loss, reporting it immediately to the 24-hour call center ensures zero liability on any fraudulent transactions made after the report.
• Free Credit Period: Avail up to 50 days of interest-free credit on the credit card.
• Revolving Credit: Available at a nominal interest rate.
• Customer Care: HDFC Bank provides 24x7 customer care support via helpline numbers 1860 267 6161 or 61606161 (prefix STD code). For cardholders traveling abroad, the overseas customer care desk can be reached at 022 61606160.