Paytm HDFC Bank Credit Card - All You Need to Know

India’s leading digital ecosystem for consumers and merchants, Paytm has launched a range of consumer credit cards in partnership with HDFC Bank, the largest private sector bank in India.

Most prominent proposition of the ‘Paytm HDFC Card’ is that it offers various rewards in the form of unlimited benefits. Paytm HDFC credit card users can get upto 5% cashback on Paytm Movies, Travel, Shopping & upto 3% cashback on most used categories like mobile recharges & bill payment of all sorts on Paytm app. For all other retail spends, users get upto 1% Cashback.

As the ‘Welcome Benefit’, users get a joining bonus in the form of Rs. 1000 cashback and free Paytm First membership with benefits worth 75K. Additionally, the following rewards are offered on the Paytm App-

Upto 5% Cashback on Paytm Movies & Mini Apps
Upto 2% Cashback on all Paytm spends like bill payment & recharges
Upto 1% Cashback on all other retail spends

The HDFC online banking platform offers the following rewards-

Upto 5% Cashback on Amazon, Flipkart, Apple, MakeMyTrip via HDFC Smartbuy
No cost EMI
Upto 5% Cashback on utility bills on Smartpay
Cashback of Rs. 3000 on PayZapp

Apart from all this, various milestone and lifestyle benefits in the form of Gift Voucher worth INR 500 upon spending INR 50,000 per quarter and 8 free airport lounge access are also offered.

Paytm X HDFC Bank Credit Card – Benefits

Considering the growing demand of credit cards worldwide, it is evident that the benefits of having a credit card outweigh the negatives. Let’s take a detailed look at the reasons why you must have the Paytm X HDFC credit card-

Easy Repayment Options

One of the most amazing features of the Paytm X HDFC Bank credit card is that it allows you to repay the borrowed amount easily. You can opt to transfer the billed amount from your debit card or via Paytm UPI to easily make the payment of your credit card bills. Additionally, you can choose to convert your billed amount into no cost EMIs, which can be easily paid over a specified period of time.

One Card for Every Need

Paytm X HDFC Bank Credit cards come in various options- one for every need. For instance, if you are an absolute shopaholic, and are always on the lookout for discounts and cashbacks on shopping, then the Paytm X HDFC Bank credit card would be ideal for you as it offers upto 5% Cashback on Amazon, Flipkart, Apple, MakeMyTrip via HDFC Smartbuy. You can also get various milestone and lifestyle benefits in the form of Gift Voucher worth INR 500 upon spending INR 50,000 per quarter

Similarly, if you have to travel a lot on your own vehicle, then Paytm X HDFC Bank credit card would work out the best for you as it offers upto 2% Cashback on all Paytm spends like bill payment & recharges and upto 1% Cashback on all other retail spends.

Earn Rewards and Points

Transactions made using the Paytm X HDFC Bank credit card will help you get various discounts, cashbacks or reward points on every transaction that you can redeem later. This will help you save on your expenses in the long run.

Easy Approvals

Credit card application process on Paytm is an easy task. With the increasing popularity and demand, Paytm X HDFC Bank credit card approval is a hassle-free process. You can easily apply for a credit card and get approved for it on the Paytm app. All you need to do is fill out an application form and submit a few details as a verification proof for your identity, residence, and income and you’ll be good to go!

Increased Purchasing Power

There may be times when you don’t have sufficient funds in your bank account as much as you need them. In such cases, credit cards come to your rescue. Having the Paytm X HDFC Bank credit card increases your purchasing power by providing you with enough funds as and when you need them. This also helps you in meeting any emergency medical or other expenses.

Improves Financial Health

Having the Paytm X HDFC Bank credit card, and paying the credit bills on time helps improve your credit score. A credit card with a good payment history helps you maintain a good financial status for a long time, thus increasing your credit score. This also makes it easier for you in case of any loans in the future.

How to Apply for Paytm HDFC Bank Credit Card?

The application process for Paytm HDFC Bank co-branded credit card is quite simple. All you need to do is download or open the Paytm App and follow these steps-

On the main screen, scroll down to the section of ‘Loans & Credit Cards’
Click on ‘Paytm Credit Card Loan’
You will be redirected to the ‘Paytm HDFC Bank Application’ page
Click on ‘Apply Now’
Enter the relevant details like your PAN card number, address and other such professional details
Tick mark the option to accept all terms and conditions and click on ‘Submit’
After the verification of details provided, you will be notified about the status of your credit card application
Your virtual credit card will be generated instantly and it will be ready to use post a final approval!

Additional Benefit? The entire credit card experience – right from the application process and issuance of the card to tracking expenditure online is digital, and can be completed in less than 5 minutes on the Paytm app!

Getting Your First Credit Card?

While getting a credit card is a huge milestone for many, it is not as complicated a tool to use, if you are careful with it. Understanding the basics of how a credit card works, its basic features can save you a lot of time, money and aggravation and may eventually help your financial status in the long run.

We have listed down a few points that you must be completely aware of, before applying for the Paytm X HDFC Bank credit card for yourself:

Gain complete information about the Paytm X HDFC Bank of credit card’s features, benefits and related terms & conditions
Apply for a credit card only when you are confident of having a stable income, whether or not you are employed
Begin with using your first credit card at a low credit limit. This will ensure that you only spend a nominal amount on your card and do not fall into any kind of debt traps later
Since this is going to be your first credit card, you need to be extra cautious about the important terms and conditions of your card. Chances are that the bank representative may not highlight all the additional hidden expenses to you at the beginning. Hence, you need to act smart!
Learn about all the other benefits offered by your bank such as the card’s APR* (Annual Percentage Range), applicable annual fees on your credit card, rewards and offers, etc.

*The APR usually ranges from 30%-40%

Read about the applicable interest charges on your credit card upon late payment of your credit amount
The grace period is the time period between the date of your purchase and the date when you have to repay the credit amount to your bank. Usually, the grace period is of 30 days but it is still important to confirm the same with your bank before getting your first credit card

Wrapping it Up:

When you apply for the Paytm X HDFC Bank credit card, your application is reviewed with a complete check on your credit history. Once all the provided information is approved, you will receive the digital credit card; using which you can begin purchasing. On making transactions using your credit card, you earn a lot of cashback points and other benefits. However, as you make purchases on your credit card, you must ensure that the borrowed amount is repaid within the stipulated time period in order to avoid any penalty.

FAQs

What is Paytm X HDFC Bank credit card?

In collaboration with HDFC bank, Paytm digital application has launched the Paytm X HDFC Bank credit card which offers innumerable benefits to its users in terms of cashbacks, reward points and discount offers.

What benefits do I get with Paytm X HDFC Bank credit card?

Using the Paytm X HDFC Bank credit card, you can get various rewards in the form of unlimited benefits. Paytm HDFC credit card users can get upto 5% cashback on Paytm Movies, Travel, Shopping & upto 3% cashback on most used categories like mobile recharges & bill payment of all sorts on Paytm app. For all other retail spends, users get upto 1% Cashback.

Are there any welcome benefits on Paytm X HDFC Bank credit cards?

Yes, there are multiple welcome benefits on Paytm X HDFC Bank credit card. As the ‘Welcome Benefit’, users get a joining bonus in the form of Rs. 1000 cashback and free Paytm First membership with benefits worth 75K. Additionally, the following rewards are offered on the Paytm App-

Upto 5% Cashback on Paytm Movies & Mini Apps
Upto 2% Cashback on all Paytm spends like bill payment & recharges
Upto 1% Cashback on all other retail spends

The HDFC online banking platform offers the following rewards-

Upto 5% Cashback on Amazon, Flipkart, Apple, MakeMyTrip via HDFC Smartbuy
No cost EMI
Upto 5% Cashback on utility bills on Smartpay
Cashback of Rs. 3000 on PayZapp

Apart from all this, various milestone and lifestyle benefits in the form of Gift Voucher worth INR 500 upon spending INR 50,000 per quarter and 8 free airport lounge access are also offered.

Mehak Bagla

Mehak Bagla is a financial Content Writer with over 3 years of work experience in the industry. She is a passionate writer with professional approach in digital marketing. In her spare time, Mehak loves to write, travel, and listen to music.