Unlocking the Power of Paytm HDFC Bank Select Credit Card: A Comprehensive Guide

Posted by  Fintra , updated 2024-07-01

Picture this: you're at your favourite cafe, sipping on your morning brew, when suddenly your friend walks in, flaunting the sleekest credit card you've ever seen. Curiosity piqued, you inquire, and they proudly announce, "It's the Paytm HDFC Bank Select Credit Card!" Instantly, you're intrigued. What makes this card so special? Well, buckle up, because we're about to dive deep into the world of credit cards and unveil the hidden gems of this exclusive offering.

The Paytm HDFC Bank Select Credit Card is a co-branded card offered by HDFC Bank in collaboration with Paytm. This credit card provides several benefits including cashback, lounge access, and fuel surcharge waiver, among others. It is an upgraded version of the Paytm HDFC Bank Credit Card and Paytm HDFC Bank Mobile Credit Card.

Introducing the Paytm HDFC Bank Select Credit Card

First things first, let's get acquainted with our protagonist: the Paytm HDFC Bank Select Credit Card. This card isn't your run-of-the-mill plastic; it's a game-changer crafted for the modern spender. With its sleek design and futuristic features, it's more than just a piece of plastic—it's your ticket to a world of convenience and rewards.

Unravelling the Features of the Paytm HDFC Bank Select Credit Card

Now, let's peel back the layers and uncover what makes this card truly stand out. Here are some features that set it apart from the rest:

• Avail 5% Cashback on purchases on Paytm [Recharge + Utility + Travel + Movies + Mini App]. The maximum cap per Calendar Month is Rs. 1500
• Avail 3% Cashback on Accelerated Categories such as Swiggy, AJIO, Big Basket & Uber. The maximum cap per Calendar Month is Rs. 500
• Get 1% Cashback on all other retail transactions. The maximum Cap per Calendar Month is Rs. 2000
• Get up to 4 complimentary add-on cards
• Utility Bill Payments: By registering the Credit Card with SmartPay, HDFC Bank's Utility Bill payment service, you can be ensured that all your utility bills will be paid on time easily and conveniently
• If your card is lost, by reporting it immediately to the bank's 24-hour call centre, you will have zero liability for any fraudulent transactions made on your card

• 8 Complimentary access to Domestic Airport Lounges in India in a calendar year
• Get a 1% fuel surcharge waived on fuel transactions. This is applicable on minimum transactions of Rs. 400 and maximum transactions of Rs. 5,000 
• Welcome Benefit includes getting Paytm First Membership- Paytm First is a premium subscription-based rewards and loyalty program designed for Paytm users. It offers exclusive benefits that go beyond the regular offers. As a Paytm First member, you will enjoy a wide range of exclusive benefits from leading partnered brands. To avail these benefits, you need to make at least one transaction of Rs. 100 or more
• Milestone Benefit: Avail Gift Vouchers worth Rs.500 upon spending Rs. 50,000 every Calendar Quarter 
• Spend-Based Fee Waiver: Upon spending Rs. 50,000 within the first 90 days, the first year's annual membership fee will be waived
• Renewal Offer: The Renewal Year Fee will be waived if you spend Rs. 1,50,000 within 12 months
• The Paytm HDFC Bank Select Credit Card is designed to allow contactless payments
• Avail up to 20% discount on partner restaurants through Dineout

Suggested Read: Best Cashback Credit Cards

Fees and Charges of Paytm HDFC Bank Select Credit Card 

• Annual Membership Fee: Rs. 1000 + GST
• Get your First Year Fee waived by spending Rs. 50,000 (Non-EMI Spends) within the first 90 days
• Renewal Year Fee gets waived upon spending Rs. 1,50,000 (Non-EMI Spends) in the 12 months

Eligibility Criteria for the Paytm HDFC Bank Select Credit Card 

To be eligible for the Paytm HDFC Bank Select Credit Card,  you need to meet the following criteria:

1. Age should be Minimum 18 years of age
2. Need to have a stable source of income and meet the bank's income criteria
3. Must have a good credit score and credit history
4. The bank may also consider other factors such as employment status and existing financial obligations

Advantages of Paytm HDFC Bank Select Credit Card

• Paytm First Membership: You will receive a complimentary annual membership to the Paytm First loyalty program with the Paytm HDFC Bank Select Credit Card. This membership provides exclusive discounts and deals on Paytm and partner brands.
• Gift Voucher: You will receive a gift voucher worth Rs. 500 if you spend a minimum of Rs. 50,000 with the card in a quarter. 
• Domestic Airport Lounge Access: Paytm HDFC Select Credit Card provides complimentary access to domestic airport lounges across India. 

Drawbacks of Paytm HDFC Bank Select Credit Card 

• HDFC Paytm Select Credit Card may not be the best option for you if you don't frequently use Paytm/Paytm Mall, as the card's reward rate for other merchants is only 1%.
• The Paytm HDFC Select Credit Card has a membership fee of Rs. 1,000 per annum which is higher than its competitors such as Amazon Pay ICICI Bank Credit Card (lifetime free) and Flipkart Axis Bank Credit Card (Rs. 500 per annum). The ICICI Bank Amazon Pay Credit Card does not provide any complimentary airport lounge access, whereas the Flipkart Axis Bank Card offers complimentary airport lounge access per annum. 

Suggested Read: Top 15 HDFC Credit Cards Offering Airport Lounge Access

Conclusion

In a world saturated with credit card options, finding the perfect fit can feel like searching for a needle in a haystack. However, with its unparalleled features and exclusive benefits, the Paytm HDFC Bank Select Credit Card makes a compelling case. From cashback to rewards to travel perks, it offers something for everyone. But here's the million-dollar question: Is it the right choice for you? Ultimately, the decision boils down to your spending habits, lifestyle, and financial goals. So, before taking the plunge, weigh the pros and cons, and consider how this card aligns with your needs.

In the end, whether you're a seasoned credit card connoisseur or a novice in the world of plastic, the Paytm HDFC Bank Select Credit Card opens doors to a world of possibilities. So, why wait? Dive in and discover the power of plastic—your wallet will thank you later.