PhonePe HDFC Bank Ultimo Credit Card
5% limited online-brand statement-cash floor; shared ₹500/calendar-month pool; ₹999+GST annual fee
Try your spend →How this estimate works
This limited estimate applies only to direct-card online Amazon, Flipkart, Myntra, Swiggy-app or Zomato purchases with eligible issuer merchant classification. Eligible online-brand MCCs are 4121, 4214, 5137, 5262, 5311, 5399, 5691, 5699, 5732, 5811, 5812, 5814. The issuer lists 5% reward points and a shared 500-point calendar-month cap across all eligible online brands. One point equals ₹1 only when redeemed as statement cashback; SmartBuy redemption has a separate ₹0.30 value and is not imported. Monthly points are conservatively rounded down to whole points; one eligible purchase in one category each month repeats twelve times. A minimum 500-point balance is required for statement redemption: the model accrues across months and gives zero redeemable annual cash if its twelve-month accrual stays below 500 points. Cashback has no redemption fee, a ₹7,500/calendar-month redemption limit and two-year point expiry. Points are normally posted on or before the 15th of the following month and become redeemable only after the statement is generated; exception posting can take up to 60 days. The annual figure is a steady repeated-spend accrual estimate, not an immediate payout or a guarantee that final-month points clear by year-end. The ₹999 annual fee plus estimated 18% GST is deducted; actual account fees may vary and no conditional waiver is assumed. EMI, fuel, wallet loads, gift cards, cash advances, credit-card bills, fees, government, rent, education, insurance, investments and jewellery purchases are excluded. Other issuer exclusions and merchant recognition apply. QR/UPI transactions are not modeled or double-counted on these online chips. PhonePe-app bill/travel rates, Scan & Pay, Ajio, Uber, fuel relief, lounge visits, welcome benefits and fee waivers remain unpriced, not absent. Current PDF welcome rules distinguish applications from 1 August 2026 from earlier applications; older page welcome copy and the expired PINCODE promotion are not imported. This is not a full card return or a copy of any SBI PhonePe card.
One eligible purchase per month
At ₹5,000 eligible online spend each month, annual statement-cash accrual is ₹3000, giving ₹1,821.18 after the taxed annual fee. Below ₹840 monthly in this one-purchase path, annual whole-point accrual remains below the 500-point redemption minimum and modeled cash is zero. Merchant eligibility and statement timing still apply. Pay in full; interest and other charges can erase the return.
Issuer sources
Current named product and fee terms · Current named reward T&Cs: caps, exclusions and statement cash
Checked 2 October 2026. Conditional merchant/MCC estimate; confirm your account terms.