UPI-linked credit cards are transforming everyday QR payments into rewarding opportunities, with the category expanding beyond traditional banks to include fintech partnerships. According to reports from Mint, this category started with banks allowing RuPay credit cards to be linked to Unified Payments Interface (UPI), and has since grown with fintechs such as Jupiter, Kiwi, Kredit.Pe and super.money partnering with banks to offer cards that reward UPI payments through their apps. Most UPI credit cards have eligibility criteria suited to low-income professionals, with banks considering income, existing debt obligations and credit history. As reported by Mint, some banks also issue cards to new-to-credit customers after assessing additional income documents such as salary slips or income tax returns.
According to Mint's analysis, the most rewarding UPI credit cards are co-branded cards with fintechs that require payments through their respective apps to maximize rewards. Jupiter's Edge+ CSB Bank RuPay card offers 50% back in Jupiter Jewels on shopping with brands such as Amazon, Flipkart, Myntra, Tata Cliq and Croma if total spends exceed ₹15,000 during the billing cycle. The card provides 5% Jewels on all other UPI spends, with one Jewel worth ₹0.20 when redeemed for digital gold, brand vouchers or flights. The Kredit.Pe Yes Bank ACE card offers 3% cashback on UPI payments through the Kredit.Pe app, with rewards increasing to 5% for spending over ₹10,000 monthly. Kiwi Klick card provides 1.5% cashback on eligible scan and pay transactions through the Kiwi app, with the reward rate increasing to 2% with a ₹1,179 annual Kiwi Neon membership.
As reported by Mint, most highly rewarding credit cards on UPI spends are co-branded cards with fintechs that require payments through their respective apps. The Jupiter Edge+ card has spending thresholds and caps, with rewards restricted to shopping and travel bookings through the app. The Kiwi Klick card offers milestone rewards of 3% after ₹50,000, 4% after ₹1 lakh, and 5% after ₹1.5 lakh of eligible annual spending. However, these cards exclude several spending categories including utilities, insurance, education, government payments, fuel and financial institutions. The Kiwi Klick card has a monthly cashback limit of 1% of credit limit, while the Jupiter Edge+ card caps shopping rewards at 10,000 Jewels per statement cycle. According to PSU Connect, rewards on UPI spends are decided by each issuer, with some counting them fully, some reducing them, and some excluding them entirely, so cardholders must read their terms carefully before assuming points will accrue.
According to Mint's analysis, users should choose cards that match their existing spending patterns rather than changing habits to maximize rewards. As reported by Mint, users who naturally cross milestone spending thresholds will get more value from premium memberships like Kiwi Neon, but additional cashback can be offset by unnecessary purchases. The report emphasizes that a 3%, 5% or 10% return will not compensate for credit card interest if bills are not paid in full by the due date. Mint recommends tracking spending for a month before choosing a card and checking reward structures, spending caps, and cashback crediting methods to ensure the card aligns with individual financial habits. According to PSU Connect, the feature benefits disciplined payers who clear full bills monthly, as they get an interest-free window on spends that would otherwise leave bank accounts immediately. However, anyone who carries balances can lose more in interest than they earn in rewards, with ₹10,000 rolled over costing approximately ₹350 in a month at common 3.5% monthly rates.
