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SwipeYield Review

A modern, RuPay-first credit card that rewards high-frequency digital spending and utility payments.

Co-brandedUPIUtilityCashback

PhonePe HDFC Bank Ultimo Credit Card

By HDFC Bank

4.3
SwipeYield Rating
Joining Fee₹999 + GST
Annual Fee₹999 + GST
Fee Waiver:

Annual fee waived on spending ₹2 Lakh in the previous year

🎁
Reward TypeReward Points
🌐
NetworkRuPay

Rewards

Base

1% on other "Scan and Pay" UPI spends (capped at 500 points/month)

Accelerated

10% on PhonePe Utility, Travel, and PINCODE; 5% on top brands (Zomato, Swiggy, Uber)

Lounge Access

8 domestic visits/year (2/quarter) on ₹75,000 quarterly spend

Pros

  • Industry-best 10% reward on utilities (via PhonePe)
  • Seamless app-based management

Cons

  • Monthly reward caps limit the 10% benefit
  • Spend-based lounge access

Eligibility

  • Primarily for active PhonePe users
  • Documented income source
  • Age 21+