PhonePe has introduced the Wish Credit Card in partnership with Utkarsh Small Finance Bank.
Soon, users will be able to apply for this card online through the PhonePe app.
The card is designed especially for tier-2 and tier-3 cities and first-time credit card holders, making access to credit easier.
This card is FD-linked, which means applicants must open a minimum fixed deposit (FD) of ₹2,000. The FD will decide the credit limit and also earn interest for the user.
Features and Benefits of Wish Credit Card
Issued on RuPay network – can be used for UPI payments and to earn reward points.
3% reward points on mobile recharges and bill payments via the PhonePe app.
1% reward points on Scan & Pay transactions or select e-commerce purchases.
200 bonus points on monthly spending of ₹15,000.
1 point = ₹1, fully redeemable.
The entire application and issuance process will be 100% digital and rolled out in phases.
Why This Card Matters
PhonePe’s Head of Payments, Deep Agarwal, said the partnership will make credit products more accessible.
Govind Singh, MD & CEO of Utkarsh Small Finance Bank, highlighted that the FD-based model will help users earn interest while also building a credit history.
Currently, PhonePe has over 610 million users and a merchant network of more than 44 million, ensuring a wide base for the new card.
