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Paytm launches Credit Card. Should you get it?

Paytm has launched their first credit card to compete with the likes of Apple and others.

Credit card is a one of the most popular financial instruments. The ease and convenience of transacting through credit card is at whole another level. It allows users to take credit for goods and services. Credit card companies provide credit cards to individuals with the condition that the cardholders will pay back the borrowed money along with any interest and charges. It means that credit cards give you the advantage of paying later unlike debit cards where the money is deducted directly from the account.

The credit card industry is booming and many companies are looking forward to introduce credit cards to lure in customers. There are plenty of different credit cards available in the market for different categories of individuals based on their transactions.


After the launch of Apple Credit Card in US, India’s largest mobile wallet player Paytm launched their first credit card named first credit card. Paytm has partnered with Citi bank to bring out the card.

Features and benefits of the Paytm Credit Card:

  • It is a contactless-enabled credit card.
  • It will give 1% on all transactions made by the customer without any restrictions. The cashbacks are auto-credited to the card every month.
  • The card will be accepted in India and international as well.
  • The annual fee of Paytm Credit Card is Rs 500, which will be waived off on spends exceeding Rs 50,000 per year.
  • Customers can also avail offers on dining, shopping, and travel and other offers available on Citi Privileges platform.
  • Paytm First Card customers will also be given Paytm promo-codes worth Rs 10,000 on spending a minimum of Rs 10,000 on the credit card within the first four months of issuance of the credit card.
  • The Paytm First Card passbook allows customers to track their credit card transactions, highlights exclusive offers from Patym and Citi Bank.

How to apply?


You can easily apply for a Paytm credit card through the Paytm app. You can also track offers through the Paytm First Card passbook.


Should you get Paytm Credit Card?


If you have couple of credit cards lying in your wallet, getting another credit card won’t have a lot of difference. The benefits of this credit card is not tempting enough and one can easily find similar offers in other credit cards. One feature that sets apart the paytm credit card is the cash back of 1% on all transactions. However, if you don’t have a credit card and you are looking for a simple credit card with less frills and charges, you can opt for Paytm Credit card. These credit card is available for customers who have a paytm account. If you don’t have a Paytm account, you would have to create a paytm account before taking a paytm card.

To summarise, the credit market is heating up in India. It is no longer just banks that are playing in the credit card segment. Many non-banking entities such as Apple, Ola Money and Paytm have jumped in the bandwagon. In the already overcrowded market of credit cards, it needs to be seen who will emerge as a winner and who will lose out in this race.

Related articles:

All you need to know about Apple’s Credit Card

Advantages and disadvantages of credit cards

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