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Side-by-Side Comparison|Updated March 2026

PhonePe HDFC Bank Ultimo Credit Card vs Swiggy HDFC Bank Credit Card

Detailed comparison of fees, rewards, benefits, and value to help you choose the right credit card for your spending pattern.

HDFC Bank

PhonePe HDFC Bank Ultimo Credit Card

8.5/10
Annual Fee₹999
Base Rewards1%
NetworkRuPay
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HDFC Bank

Swiggy HDFC Bank Credit Card

8.5/10
Annual Fee₹500
Base Rewards1%
NetworkMastercard
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Feature-by-Feature Comparison

FeaturePhonePe HDFC Bank Ultimo Credit CardSwiggy HDFC Bank Credit Card
Annual Fee₹999₹500
Joining Fee₹999₹500
Fee Waiver Spend₹2,00,000₹2,00,000
Base Reward Rate1%1%
Reward CurrencyReward PointsCashback
NetworkRuPayMastercard
Editor Rating8.5/108.5/10
Forex Markup3.5%3.5%

Accelerated Rewards

PhonePe HDFC Bank Ultimo Credit Card

  • 0% on PhonePe (Bills, Recharges, ... — 1000 pts/month
  • 0% on Online Brands (Amazon, Flip... — 500 pts/month
  • 0% on Scan & Pay (UPI) — 500 pts/month

Swiggy HDFC Bank Credit Card

  • 0% on Swiggy (Food, Instamart, Di... — 1500 pts/month
  • 0% on Online Spends (Select MCCs) — 1500 pts/month

Pros & Cons

PhonePe HDFC Bank Ultimo Credit Card

Pros

  • 10% reward points on PhonePe utility bills, recharges, and travel bookings.
  • 5% reward points on major online brands like Amazon, Flipkart, Swiggy, and Zomato.
  • 1% reward points on all UPI Scan & Pay transactions (RuPay on UPI).
  • 1:1 redemption ratio for reward points against statement credit (cashback).

Cons

  • Monthly capping on reward points (1,000 for 10% category, 500 for 5% category).
  • Lounge access is milestone-based (requires ₹75,000 spend in the previous quarter).
  • Reward points expire within 1 year of accrual.

Swiggy HDFC Bank Credit Card

Pros

  • 10% cashback on Swiggy (Food, Instamart, Dineout, Genie) capped at ₹1,500/month
  • 5% cashback on online shopping across major platforms like Amazon, Flipkart, and Myntra
  • Complimentary 3-month Swiggy One membership as a welcome benefit
  • Cashback is directly credited to the credit card statement

Cons

  • No complimentary airport lounge access
  • Monthly cashback capping of ₹1,500 on Swiggy and ₹1,500 on online spends
  • Excludes cashback on fuel, rent, EMI, and jewelry transactions

Our Verdict

Both PhonePe HDFC Bank Ultimo Credit Card and Swiggy HDFC Bank Credit Card are strong options. Your choice should depend on your spending pattern and which card's rewards align better with your lifestyle.

Choose PhonePe HDFC Bank Ultimo Credit Card if

High 10% value-back on utility bills and recharges via the PhonePe app.

Choose Swiggy HDFC Bank Credit Card if

High 10% cashback on food delivery and groceries via Instamart makes it the best card for the Swiggy ecosystem.

Frequently Asked Questions

Which is better: PhonePe HDFC Bank Ultimo Credit Card or Swiggy HDFC Bank Credit Card?
Both PhonePe HDFC Bank Ultimo Credit Card and Swiggy HDFC Bank Credit Card are strong options. Your choice should depend on your spending pattern and which card's rewards align better with your lifestyle.
What is the annual fee difference between PhonePe HDFC Bank Ultimo Credit Card and Swiggy HDFC Bank Credit Card?
PhonePe HDFC Bank Ultimo Credit Card has an annual fee of ₹999, while Swiggy HDFC Bank Credit Card has an annual fee of ₹500. PhonePe HDFC Bank Ultimo Credit Card offers a fee waiver on ₹2,00,000 annual spend. Swiggy HDFC Bank Credit Card offers a fee waiver on ₹2,00,000 annual spend.
Which card has better rewards: PhonePe HDFC Bank Ultimo Credit Card or Swiggy HDFC Bank Credit Card?
PhonePe HDFC Bank Ultimo Credit Card offers a base reward rate of 1% with accelerated rewards on PhonePe (Bills, Recharges, ... and Online Brands (Amazon, Flip.... Swiggy HDFC Bank Credit Card offers 1% base rewards with bonuses on Swiggy (Food, Instamart, Di... and Online Spends (Select MCCs). The better choice depends on your primary spending categories.
Can I have both PhonePe HDFC Bank Ultimo Credit Card and Swiggy HDFC Bank Credit Card?
Yes, many users hold multiple credit cards to maximize rewards across different spending categories. PhonePe HDFC Bank Ultimo Credit Card and Swiggy HDFC Bank Credit Card can complement each other if they cover different reward categories.
Which card is better for beginners: PhonePe HDFC Bank Ultimo Credit Card or Swiggy HDFC Bank Credit Card?
For beginners, Swiggy HDFC Bank Credit Card may be more approachable with a lower annual fee of ₹500. However, evaluate based on your expected spending pattern rather than fee alone.

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