Your Citi Bank Paytm First Card is getting upgraded! Now enjoy higher cashback across the following spend categories on Paytm. This was the Communication received by E-mail from Citi bank for Paytm First Card. Now, this credit card has become more rewarding, with accelerated rewards. Here is everything you should know about it, in a detailed review about the upgraded cards.
Earlier Joining fees was Rs.500+GST, Now Joining fees changed to Rs.499+GST. A joining fee of Rs.499 + GST will be levied within 90 days of card issuance. Joining fee to be levied even if the account remains inactive.
An annual fee of Rs.499 + GST is charged at the end of the year. This annual fee shall be waived off if you spend Rs.1,00,000 or more on your Citi bank Paytm First Card in a membership year.
For cards issued before 1st April 2021, the annual fee is waived off if you spend oRs.50,000 or more in a previous year till 31st March 2022. However from 1 st April 2022, the annual fee will be waived off if you spend Rs.1,00,000 or more on your Card in the previous year.
- So, the Annual Fee waiver has become a little tough, Now you need to spend Rs.1,00,000 compared to Rs.30,000 in the previous year.
- For Existing Customers Limit of Rs.1,00,000 shall be applicable from 1 st April 2022 onwards.
Welcome benefits of Citi Bank Paytm First Card is still intact, you will get Rs.3,000 or Rs.1,000 cashback as a statement credit if you spend Rs.5,000 within 90 days of card issuance.
Earlie there was 1% cashback without any restriction on all spends even in Wallet load transactions, but now there is substantial change in the cashback systems.
Now cashback can be categorized as Regular Cashback and accelerated cashback. Here are the all details.
- All other Spends : . 1% cashback
- However cashback will not accrue on fuel and wallet load transactions. earlier cashback was also available on wallet load transactions.
- Paytm Mall Spends: 5% cashback on all spending done on Paytm Mall
- Flight bookings: 2% cashback on all flight bookings done through Paytm Flights using the Paytm First Card
- Spends on Paytm app and website : 3% cashback on all spends done on the Paytm app and website, excluding spends done on Paytm Mall and Paytm Flights.
- Still, there is no maximum cap on the amount of cashback earned on the Paytm First Card.
- Cashback is not earned on transactions less than Rs.50.
- The cashback will be rounded off for every transaction.
- Cashback accumulated will reflect in the statement at the time of statement generation
For better understanding, I have taken a cashback example from Citi Bank Website, here a table with detailed calculations, please check it.
For a Paytm First Card with statement cycle on 10th of each month, card statement is generated on 10th December for spends between 11th Nov to 10th Dec consisting of below transactions:
|Transaction||Type||Amount (In Rupees)||Cashback(%)||Cashback earned(In Rupees)|
|15th Nov||Paytm Flight||Purchase||4000||2%||80|
|17th Nov||Paytm Mall||Purchase||5500||5%||275|
|22nd Nov||Paytm Utilities||Purchase||4500||3%||135|
|01st Dec||Paytm Mall||Reversal||1000||5%||(50)|
|08th Dec||Grocery Store/Supermarket||Purchase||5000||1%||50|
- The Net beneficiary of this upgrade will be a person who pays a lot of Utilities on Paytm. Earlier, you can only earn 1% cashback on utility payment, but now you can earn 3% cashback for the same expenses.
- Now Paytm Mall shopping has become more rewarding, and you can earn 5% cashback now.
All other features are same same old Citi bank Paytm First Credit Card. All the features and other details.
This credit is a Co-branded entry level credit card, so we should expect great features. Below are the minimal features.
- This credit is issued on the Visa Network and acceptable across the world. International transactions are disabled by default as per RBI guidelines. If you want to use this credit for international transactions, you need to first switch-on for the international transactions through CITIBABK Mobile App or Netbanking.
- Citi Bank Paytm First credit also offer low-interest rate on Equated Monthly Installment (EMI) options.
- Seamless integration with the Paytm app, apart from Citi Bank Paytm First credit card statement, can also check all transactions in PayTM App.
- Exclusive offers on dining, shopping & travel using the Citi Privileges platform.
- 1+1 Movie tickets
- Complimentary One Year Paytm First Membership
Using the Promo code ‘CITIFRIDAYS’ you can book a minimum of two tickets every Friday, Buy one ticket, and get one movie ticket free on using Citi bank Paytm First Credit card however a total discount is limited to Rs. 300/-
The promo code can be used to book movie tickets for any show-date. However, the transaction using promo-code can be made only on Fridays.
Pros and Cons
- 5% cashback on all spending done on Paytm Mall
- 2% cashback on all flight bookings done through Paytm Flights using the Paytm First Card
- 3% cashback on all spending done on the Paytm app and website
- 1% cashback on all other spendings.
- No redemption Fees
- No maximum cap on reward points
- Application only through Paytm App
Citi Bank Paytm First Card Eligibility Criteria
There are no eligibility criteria to apply for this credit card. Citi Bank and Paytm have jointly developed a selection tool to identify potential customers. This will help enable customers to own a credit card without requiring a prior credit history.
However as per current statics Citibank and Paytm offering this credit card to a customer who has good relations and transaction Paytm.
The Paytm First credit card is available only for selected customers, you can check you are eligible or not through Paytm App. You should also check your Address fall in Citi Bank serviceable area. Currently, this credit card is available on tier 2/3 cities as well.
How to get Citi Bank Paytm First Card
You can apply this credit card Paytm App( Check you app have latest version), You can get paytm first credit card apply link on Paytm App. Just click on link fill all the form and submit.
Here is my experience for apply for paytm first credit card.
- Day First- Applied through Paytm App
- Day Second-Verification call received the next day, they enquired about Company name, salary, Office Address, and Office address.
- Day Third -Handed over PAN card and Addhar Card to Citi Bank Agent on 3rd days. He did not ask about Salary SLIP or Income Proof.
- Day Fourth– Again verification call received
- Day Fifth– Email received that application has been approved and the 9th Day card received. Paytm first credit card application status was also showing on Paytm App.
The card was received delivered through Blue Dart Courier. The credit card limit is Rs. 60,000 which is quite good considering card was issued without Income Proof
Citi Bank Paytm first card is entry-level credit which gives regular and accelerated cashback on all spending without any restriction. This is an amazing card for those who do not credit cards to date.
After the upgrade, this credit card has become more rewarding, For me, I have mostly used Citi Bank Paytm first card for utility bill payment, earlier I was getting 1% cashback, now I will get 3% cashback for the same. This Citi Bank Paytm first card is still behind Axis Bank Ace Credit card which gives 5% cashback on utility bill payment also.
If you do not have Axis Bank Ace Credit card, you should apply this credit card for maximum benefits.
What’s your taken on Newly upgraded Citi Bank Paytm First Card, share what you’ve taken on in the comment box below.
Citi Bank Paytm First Card