M16S / Utkarsh Small Finance Bank / Utkarsh Wish Credit Card
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Utkarsh Wish Credit Card
The Utkarsh Wish Credit Card charges no annual fee and no joining fee. Its base return is 1% (1% reward points on scan and pay through the PhonePe app). Accelerated earn: 3% on recharges and bill payments through the PhonePe app; 1% on select online brands paid through PhonePe. The forex markup is 3.5%. Read from the issuer's documents and an aggregator on 11 Oct 2026.
- Annual fee
- Free
- Fee waived at
- —
- Base return
- 1%
- Forex markup
- 3.5%
- Interest
- 3%a month
What changed on this card
- Utkarsh raises the finance charge on superCard and Wish to 3.5% a month from Jun 2026
From 21 June 2026 the interest on unpaid dues (not cash advances) rises from 3% a month (36% a year) to 3.5% a month (42% a year). The same revision is in the Wish Credit Card MITC. Source: Utkarsh Small Finance Bank, utkarsh.bank.in, read 28 Oct 2026
- Utkarsh adds a Rs 100 account maintenance charge on superCard and Wish from Jun 2026
From 21 June 2026 an Account Maintenance Charge of Rs 100 plus taxes applies for year 1. It is waived in all cases except a customer-initiated closure within 12 months of card issuance. The same charge is in the Wish Credit Card MITC. Source: Utkarsh Small Finance Bank, utkarsh.bank.in, read 28 Oct 2026
- Utkarsh cuts cash advance interest on superCard and Wish to 2.5% a month from May 2026
From 21 May 2026 cash advance interest for ATM withdrawals and transfers to a bank account falls from 3% a month (36% a year) to 2.5% a month (30% a year). The same revision is in the Wish Credit Card MITC. Source: Utkarsh Small Finance Bank, utkarsh.bank.in, read 28 Oct 2026
Each change is read from the bank's own notice or terms document, linked above. Every card's changes are on the change log.
Fees
| Joining fee | Free |
|---|---|
| Annual fee | Free |
| Fee notes | Joining and annual fee nil. Physical card Rs 249. |
Rewards
| Reward currency | Reward Points |
|---|---|
| Base earn | 1% reward points on scan and pay through the PhonePe app |
| Base returnunverified | 1% |
| Point value | 1 reward point = Re 1 (PhonePe press release) |
| Accelerated earn | 3% on recharges and bill payments through the PhonePe app; 1% on select online brands paid through PhonePe |
| Capsunverified | Per cardinsider: bill payments 200 points per statement month; select online brands 150 points per month; scan and pay 150 points per month; transactions of Rs 100 or more only. Bank page refers to MITC for caps. |
| Spends that earn nothingunverified | Per cardinsider: government, agriculture/contractor services, rent, wallet/gift/prepaid loads, vouchers, gold/jewellery, insurance, post office, transit, utilities, education, fuel, cash advances, EMI |
| Milestone benefits | 200 reward points on spends of Rs 15,000 in a month |
| Reward notes | base_return_pct = 1% on PhonePe scan and pay at Re 1 per point. With the reported caps the most a month is about 500 points plus the milestone. Spends outside the PhonePe app categories appear to earn nothing; not confirmed from the MITC, which is only available inside the PhonePe app. |
Travel and perks
| Forex markupunverified | 3.5% |
|---|
Charges and eligibility
| Interest per month | 3% |
|---|---|
| Late payment fee | 10% of outstanding amount, capped at Rs 1,250 |
| Cash advance fee | Domestic 5% or Rs 25, whichever is higher; international 5% or Rs 500; cash limit up to 20% |
| Eligibility | Resident Indian aged 18-80 with PAN, Aadhaar-linked mobile and email; FD from Rs 2,000 up to Rs 1,80,000; limit up to 90% of FD with a good bureau score; one application per PAN; apply in the PhonePe app |
| Fine-print notes | Launched 6 Oct 2025, rolled out in phases in the PhonePe app. FD matures in 1 year and auto-renews; withdrawal allowed after a 7-day lock-in. Card is deactivated if unused for 30 days after issuance. Payment due 15 days after statement. Add-on cards not available. T&C and KFS sit in the 'Manage' section of the PhonePe app and were not readable; forex markup is from cardinsider. |
Questions
- What is the annual fee of the Utkarsh Wish Credit Card?
- No annual fee.
- What is the forex markup on the Utkarsh Wish Credit Card?
- 3.5% of each foreign-currency transaction, before GST.
- Which spends earn no rewards on the Utkarsh Wish Credit Card?
- Per cardinsider: government, agriculture/contractor services, rent, wallet/gift/prepaid loads, vouchers, gold/jewellery, insurance, post office, transit, utilities, education, fuel, cash advances, EMI