Paytm has launched a range of consumer credit cards in partnership with HDFC Bank, the largest private-sector bank in India. On Paytm purchases, the HDFC credit card from Paytm offers cashback. The card also provides benefits like a no-interest credit period, zero cost liability, waiver of fuel surcharges, and other welcome and milestone benefits. Other versions of the cards that HDFC Bank and Paytm jointly launched include the Paytm HDFC Bank Select Credit Card and the Paytm HDFC Bank Mobile Credit Card. Details regarding the Paytm HDFC credit card have been covered in this article.
Credit Card
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To,TransUnion CIBIL Limited[Formerly known as Credit Information Bureau (India) Limited]One Indiabulls building ,Unit No 1901 – 1905,19th Floor, Tower 2A-2B, Jupiter Mill compound,Senapati Bapat Marg, Lower Parel, Mumbai 400 013
Sub: Grant of Consent
Dear Sirs,
In connection with submission of the application for my credit information offered by CIBIL (“Consumer Credit Information”) through Wishfin and delivery of the Consumer Credit Information to the Company, I hereby acknowledge and agree to the following:
- The Company is my lawfully appointed agent and he / it has agreed to be my agent for the purposes, including, without limitation, to receive the Consumer Credit Information from TUCL on my behalf and use it in the manner consistent with the Agreement entered into between the Company and TUCL, and the Company has granted its consent for being appointed for the aforesaid purpose.
- I grant my unconditional consent to the Company to receive the Consumer Credit Information from TUCL on my behalf and use it in the manner consistent with the consistent with the Agreement entered into between the Company and TUCL, as the case may be, and the Company has granted its consent for being appointed for the aforesaid purpose. I hereby represent and acknowledge that: (a) I have carefully read the terms and conditions of the Agreement entered into between the Company and TUCL understood the same; or (b) the Terms of Understanding in relation to the use of the Consumer Credit Information has been agreed between me and the Company.
- I hereby expressly grant unconditional consent to, and direct, TUCL to deliver and / or transfer my Consumer Credit Information to the Company on my behalf.
- I shall not hold TUCL responsible or liable for any loss, claim, liability, or damage of any kind resulting from, arising out of, or in any way related to: (a) delivery of my Consumer Credit Information to the Company ; (b) any use, modification or disclosure by the Company of the contents, in whole or in part, of my Consumer Credit Information , whether authorized or not; (c) any breach of confidentiality or privacy in relation to delivery of my Consumer Credit Information to the Company ; (d) for any use made by the Company which is contrary to the Agreement entered into between the Company and TUCL.
- I acknowledge and accept that: (a) TUCL has not made any promises or representations to me in order to induce me to provide my Consumer Credit Information or seek any consent or authorization in this regard; and (b) the implementation of the Agreement between TUCL and the Company is solely the responsibility of the Company
- I agree that I may be required to record my consent / provide instructions electronically and in all such cases I understand that by clicking on the "I Accept" button below, I am providing "written instructions" to Wishfin authorizing Wishfin to obtain my Consumer Credit Information from my personal credit profile from TransUnion CIBIL LIMITED, [formerly known as Credit Information Bureau (India) Limited]]. I further authorize Wishfin to obtain such information solely to confirm my identity and display my Consumer Credit Information to me. Further in all such cases “By checking this box and clicking on the ‘Authorize button, I agree to the terms and conditions, acknowledge receipt of TUCL privacy policy and agree to its terms, and confirm my authorization for Wishfin to obtain my Consumer Credit Information .
- I understand that in order to deliver the product to me, I hereby authorize Wishfin, to obtain my Consumer Credit Information from TUCL.
- By submitting this registration form, I understand that I am providing express written instructions for Wishfin to request and receive information about me from third parties, including but not limited to a copy of my consumer credit report and score from consumer reporting agencies, at any time for so long as I have an active Wishfin account. I further authorize Wishfin to retain a copy of my information for use in accordance with [Wishfin’s] Terms of Use and Privacy Policy.
- I UNDERSTAND THAT THE PRODUCT IS PROVIDED ON AN “AS-IS”, “AS AVAILABLE” BASIS AND TUCL EXPRESSLY DISCLAIMS ALL WARRANTIES, INCLUDING THE WARRANTIES OF MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE, AND NON-INFRINGEMENT.
- I shall not sue or otherwise make or present any demand or claim, and I irrevocably, unconditionally and entirely release, waive and forever discharge TUCL , its officers, directors, employees, agents, licensees, affiliates, successors and assigns, jointly and individually (hereinafter “Releasee”), from any and all manner of liabilities, claims, demands, losses, claims, suits, costs and expenses (including court costs and reasonable attorney fees) (“Losses”), whatsoever, in law or equity, whether known or unknown, which I ever had, now have, or in the future may have against the Releasee with respect to the submission of my Consumer Credit Information and / or my decision to provide TUCL L with the authority to deliver my Consumer Credit Information to the Wishfin . I agree to defend, indemnify, and hold harmless the Releasee from and against any and all Losses resulting from claims made against TUCL L by third parties arising from and in connection with this letter.
- I agree that the terms of this confirmation letter shall be governed by the laws of India and shall be subject to the exclusive jurisdiction of the courts located in Mumbai in regard to any dispute arising hereof. TUCL is entitled to assign its rights hereunder to any third person without taking my prior written consent.
Yours faithfully,
Name :____________________________Address : ____________________________Date : ____________________________
Steps to apply for Paytm HDFC Bank credit card
It is advised to be extra cautious about your credit card’s essential terms and conditions before applying. Learn about the card’s Annual Percentage Range, applicable annual credit card fees, rewards and offers, and other extra benefits the bank offers. The annual percentage range typically ranges between 30% and 40%. Regardless of whether you have a job, you should only apply for a credit card if you are certain you will have a consistent source of income. Start with your first credit card, which has a low credit limit.
This will guarantee that you use your card sparingly and prevent you from falling into debt traps in the future. Learn more about the interest charges that will be added to your credit card for making the credit amount’s late payments. The grace period is also known as the grace period between the date of your purchase and the date your bank must receive the credit amount. Although the grace period is typically 30 days, confirming with your bank is still advisable before getting your first credit card.
To be eligible to apply for a Paytm HDFC credit card, a person must be salaried or self-employed and at least 18 years old. It’s easy to apply for a Paytm HDFC Bank credit card. Use Paytm HDFC credit if you primarily conduct online transactions through Paytm.
From the application process to card issuance and online expense tracking, digital processes are used throughout. These steps can be completed in under 5 minutes using the Paytm app. To apply for a Paytm HDFC credit card, the following actions are necessary:
- After scrolling down to the “Loans & Credit Cards” section on the home page, click “Paytm Credit Card Loan.” As a result, you will be directed to the “Paytm HDFC Bank Application” page.
- Click “Apply Now” and fill out the required fields with your PAN card number, address, and other necessary professional details.
- Select “Submit” after checking the box next to “I accept all terms and conditions.”
- Following the verification of the supplied information, you will be informed of your credit card application status. Your virtual credit card will be generated and available immediately after final approval!
When you make purchases with your credit card, you accrue many cashback points and other advantages. To avoid penalties, you must ensure that the borrowed sum is repaid within the specified time as you make purchases using your credit card.
Benefits of the Paytm HDFC Bank credit card
Numerous benefits come with a Paytm HDFC credit card. The following advantages of the Paytm HDFC credit card are detailed below in more detail:
- The card comes with Paytm First Membership, a premium subscription-based reward, and a loyalty program for Paytm users as a welcome bonus. To be eligible for this benefit using this credit card, you must complete at least one transaction totaling Rs. 100.
- This HDFC Bank credit card offers 3% cashback on all Paytm purchases, including those made at shopping centers, movie theatres, and mini apps. Paytm offers 2% cashback on each purchase. Additionally, retail purchases qualify for 1% cashback. Notably, the cashback is distributed using Paytm vouchers. On monthly non-EMI transaction spending of Rs. 10,000, you get 1% cashback. The most you can spend each month is Rs. 100. You could get a yearly cashback of up to Rs. 1,200 by doing this. However, Paytm cashback is not available on fuel purchases, EMIs, or wallet reloads.
- Your family members can benefit from the benefits by receiving up to 4 free add-on cards.
- The card has no lost card liability, so if you lose it, you won’t be held accountable for any fraudulent charges made with it.
- You have up to 50 days to use the interest-free credit period.
- This credit card supports contactless payments at numerous retail establishments.
- Free and affordable EMIs are available with your Paytm HDFC Bank Credit Card.
Conclusion
Before submitting an application for the Paytm HDFC credit card, become thoroughly familiar with the card’s features, advantages, and related terms and conditions. When you apply for the Paytm HDFC Bank credit card, your application is assessed along with a thorough examination of your credit history. Once all the submitted information has been approved, you will be given the digital credit card and can begin making purchases. A replacement card can also be obtained for a fee of Rs. 100 if your Paytm HDFC credit card is lost or damaged. If your card expires, notify the bank as soon as possible for safety reasons.
