All cards / Utkarsh Small Finance Bank
PhonePe Utkarsh Small Finance Bank Wish Credit Card
RuPay
PhonePe Utkarsh Small Finance Bank Wish Credit Card
A fixed-deposit-backed RuPay card issued by Utkarsh Small Finance Bank and distributed entirely through the PhonePe app, aimed at first-time credit users, gig workers, and customers in smaller towns who lack a credit history. The FD (as low as ₹2,000) secures the credit limit, keeping approval simple, while everyday PhonePe usage earns modest cashback.
Annual fee
₹0
Joining fee
₹0
Reward type
cashback
Base reward rate
1%
Card network
RuPay
Card tier
Entry
Who this card fits
Best suited to applicants who clear the standard eligibility bar whose spend is concentrated in utilities, online shopping. It's a lifetime-free card with no fee to track.
Rewards & benefits
- Rewards rate: 1% base rate
Benefits by category
- 🛍️ Shopping
1% reward rate (capped ₹200/monthly)
- 🧾 Utilities
3% reward rate (capped ₹300/monthly)
- ⛽ Fuel
1% fuel surcharge waiver on eligible fuel transactions
- 🌍 Forex / international spend
3.5% forex markup on international transactions
Eligibility
- 0
- Employment: salaried, self-employed
- Age: 18–65
Fees & charges
- Foreign currency markup: 3.5%
- Interest rate: 42% p.a.
- Fuel surcharge waiver: 1% fuel surcharge waiver, standard across Utkarsh SFB RuPay secured cards.
Benefits
- Credit limit set at up to 90% of the backing Fixed Deposit (minimum FD of ₹2,000).
- 3% reward value on recurring PhonePe payments like recharges and bill payments; 1% on Scan & Pay and select e-commerce.
- Helps new-to-credit users build a credit history through FD-backed, low-risk usage tracked in the PhonePe app.
- 1% fuel surcharge waiver on eligible fuel transactions
Pros
- + No joining or annual fee, lifetime free
- + Very low entry barrier — FD from just ₹2,000
- + Fully digital application inside the PhonePe app with fast KYC
- + Good starter card for building credit history via secured card usage
- + UPI-linkable RuPay card
Cons
- − Credit limit is capped by the FD amount, not real creditworthiness
- − Reward rates are modest outside PhonePe-specific spends
- − RuPay-only network limits some international/online use
Best for