Latest Credit Card & Finance Updates – July 2025

Welcome to your one-stop update on the latest in the world of credit cards, finance schemes, and digital payments. We are Spicycard, and here’s what’s new today.

Segment 1: PhonePe & HDFC’s New Co-Branded RuPay Credit Cards

HDFC Bank and PhonePe have joined hands to launch two new RuPay co-branded credit cards – Ultimo and UNO – exclusively for PhonePe users. Both cards offer exciting rewards on UPI transactions, bill payments, recharges, and travel bookings made via the PhonePe app.

PhonePe HDFC Ultimo Credit Card

• Fee: ₹999 + GST (joining & annual)

• Welcome Cashback: ₹999 credited on PhonePe UPI spends

• Rewards:

  • 10% on PhonePe transactions (recharges, bills, flights, hotels)

  • 5% on top online brands (Flipkart, Amazon, Swiggy, Zomato, Uber, Myntra, AJIO)

  • 1% on Scan & Pay via any UPI app

• Perks:

  • 8 free domestic airport lounge visits per year

  • 1% fuel surcharge waiver

• Rollout: Phased rollout to eligible PhonePe users

PhonePe HDFC UNO Credit Card

• Fee: ₹499 + GST (joining & annual; waived on ₹1 lakh annual spend)

• Welcome Cashback: ₹499 credited on PhonePe UPI spends

• Rewards:

  • 2% on PhonePe transactions

  • 1% on select online brands

  • 1% on Scan & Pay via any UPI app

• Perks:

  • 1% fuel surcharge waiver

• Best For: Low-spend users seeking UPI rewards at an affordable fee

Segment 2: Kotak & IndiGo’s Revamped Co-Branded Cards

Kotak Mahindra Bank and IndiGo Airlines have revamped their co-branded program by introducing RuPay-powered credit cards with IndiGo’s new BluChip loyalty currency, replacing the old 6E Rewards.

Reward Rates (BluChips per ₹100 Spent)

• Flight Bookings:

  • Kotak: up to 19 BC

  • Kotak XL: up to 21 BC

• Dining & Entertainment: 2 BC (Kotak), 3 BC (XL)

• Other Spends: 1 BC (Kotak), 2 BC (XL)

Breakdown of BluChips:

• Kotak (up to 19 BC): 8 BC (base) + 3 BC (Kotak card) + 4 BC (IndiGo booking) + up to 4 BC (tier bonus)

• Kotak XL (up to 21 BC): 8 BC (base) + 5 BC (XL card) + 4 BC (IndiGo booking) + up to 4 BC (tier bonus)

Milestone Benefits:

• Kotak: Vouchers worth 7,500 BC on ₹6 lakh annual spend

• Kotak XL: Vouchers worth 16,000 BC on ₹12 lakh annual spend

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IDFC First Credit Card Apply Link - Click Here

Segment 3: AmEx Reward Multiplier Update

American Express is revising its charges:

• New Fee: 1.5% + GST (earlier 0.75% + GST) on Amazon gift voucher purchases via the Reward Multiplier platform

• Effective Date: July 25, 2025

• Note: Rewards remain the same, with a purchase cap of ₹10,000 per card account per month.

Segment 4: RuPay JCB 25% Cashback Offer

The RuPay JCB Global Card is offering 25% cashback on POS transactions in select Asian countries.

• Offer Period: June 15 – August 31, 2025

• Applicable Countries: Japan, Singapore, Malaysia, Vietnam, Thailand, South Korea, Sri Lanka, Hong Kong

• Eligibility:

  • Minimum 2 POS transactions required

  • Cashback applied to all transactions (including first two)

• Limits:

  • Max ₹1,500 cashback per txn

  • Max ₹15,000 cashback per cardholder

• Other Terms: No minimum transaction value, non-transferable, non-encashable.

Segment 5: Axis Bank Supreme Business Cards

Axis Bank has launched two new business credit cards – Supreme Visa and Supreme Mastercard.

Quick Comparison

• Rewards (per ₹200 spend)

  • Visa: 4 RP (marketing & travel), 1 RP (domestic), 3 RP (international)

  • Mastercard: 6 RP (marketing), 4 RP (domestic, excl. fuel/EMI), 8 RP (international)

• Milestones (Mastercard only):

  • 10,000 RP on ₹5 lakh annual spend

  • 5,000 RP on ₹8 lakh annual spend

• Lounge Access: 4 visits/quarter (MC), none on Visa

• Fees: Visa – free; Mastercard – ₹1,500 + GST

Segment 6: AU Bank & Kiwi’s Kosmo Card

AU Bank and Kiwi have launched the Kosmo Credit Card, which is lifetime free and rewards UPI spends with Kiwi points.

• Exclusions: No rewards on cash, rent, education, government, insurance, EMIs, fuel, or BBPS payments.

• Eligibility: Displayed in-app between AU Kosmo and Yes Klick cards.

Segment 7: Highway FASTag Pass

From August 15, 2025, a new FASTag-based annual highway pass will be available:

• Price: ₹3,000

• Validity: 1 year

• Usage: Unlimited or 200 trips (whichever comes first)

• Availability: Rajmarg Yatra app, NHAI, and MoRTH sites

• Eligibility: Private non-commercial vehicles only

Segment 8: Tatkal Booking OTP Mandate

From July 1, 2025, IRCTC will mandate Aadhaar-linked OTP for Tatkal bookings (web & mobile).

• Aim: Prevent fraud, improve transparency, and enhance trust in the booking system.

Segment 9: UPI Transactions Remain Free

The Finance Ministry has once again confirmed: No fees on UPI transactions.

• May 2025 Stats: 18.67 billion transactions worth ₹25.14 lakh crore processed.

• Users and merchants can continue using UPI without worrying about MDR charges.

Segment 10: ITR Filing Deadline Extended

The CBDT has extended the ITR filing deadline for FY 2024–25 (AY 2025–26):

• Old Deadline: July 31, 2025

• New Deadline: September 15, 2025

• Relief provided due to revised forms and delayed e-filing utilities.

✅ That’s a wrap for today’s updates in the world of credit cards, digital payments, and finance. Stay tuned for more such quick and detailed insights!