Paytm HDFC Bank Business Credit Card Review

Paytm and HDFC Bank have launched a number of credit cards in collaboration in order to benefit from each other's wide customer base. The Paytm HDFC Bank Business Credit Card is one such credit card which has been launched by the two institutions in collaboration. In this detailed review, we'll delve into the key features, benefits, fees, and charges of this credit card to help you make an informed decision.

Features and Benefits

Cashback Rewards

The card offers a decent cashback rate. We have elaborated the cashback system below:

• 3% cashback on purchases on Paytm (recharge, utility, movies, Mini App), maximum Rs. 500 per calendar month.

• 2% cashback on all other select Paytm spends, maximum cap per calendar month is INR 500.

• 1% cashback on all other retail spends, maximum cap per calendar month is INR 1000.

Welcome Benefits

Credit card holders get Paytm First membership upon a minimum transaction of INR 100, a gift voucher worth INR 250 upon card activation with 2 transactions in the first 30 days. (non-EMI spends)

Dining Benefits

Credit card holders get up to 20% discount on partner restaurants via Dineout.

Milestone Benefits

Credit card holders can enjoy INR 500 worth of gift vouchers on spends of INR1 Lac in a year.

Cons

Annual Fees

There are a number of cons associated with the card, such as:

• Milestone benefit is applicable only for the first year of the card issuance.

• Overall cashback redemption is capped at 3000 points per month.

• No free lounge access.

• No free movie tickets.

Fees and Charges

Fees and charges associated with the Paytm HDFC Bank Business Credit Card are as follows:

• Joining fee: INR 500 plus taxes. The first-year fee is waived upon spending INR. 30,000 within the first 90 days (Non-EMI spends).

• Annual fee:  INR 500 plus taxes. Renewal Year Fee waived upon spending Rs. 50,000 (Non-EMI spends) in the 12 months.

• Foreign currency markup: 3.50%

• Fuel surcharge:  1% subject to a minimum transaction of INR 400 and a maximum transaction of INR 5000. 

• Cash advance fee: 2.5% or INR 500 whichever is higher.

• Late payment charges: INR 100 to 1300.

• Interest rate: 3.75% monthly, 45% annually.

Conclusion

In conclusion, the Paytm HDFC Bank Business Credit Card is an average credit card with average features and benefits that cater to the needs of professionals. The cashback rate offered by the card is sub-optimal. We will suggest readers to to weigh the pros and cons, considering factors like annual fees and eligibility criteria, to determine if it aligns with your financial goals.

You can know our rating of this credit card and read a more detailed review of the credit card here.

By providing a comprehensive overview of the Paytm HDFC Bank Business Credit Card, this review aims to guide professionals in making informed decisions regarding their financial tools.

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