PhonePe SBI Card SELECT BLACK

SBI Card has collaborated with PhonePe to offer two co-branded credit cards, namely SBI PhonePe Purple and SBI PhonePe SELECT BLACK. Here, the latter is the premium variant which offers up to 10% rewards on select PhonePe transactions, like recharges, bill payments, insurance, travel and orders made on PINCODE app. Other eligible online spends also come with accelerated savings of 5% rewards while offline and Scan & Pay transactions accrue rewards at a base rate of 1%, all redeemable in 1:1 ratio for cash and vouchers. Other benefits include free domestic lounge visits, welcome voucher that compensates for the joining fee, along with Rs. 5,000 Yatra voucher and fee waiver as milestone benefits.

In competition, HDFC Bank also offers PhonePe co-branded cards, with the PhonePe HDFC Ultimo as its premium variant. While both cards offer similar reward programs, HDFC Ultimo’s 5% savings are restricted to select online platforms like Myntra, Swiggy, Zomato, Amazon, Ajio, Flipkart, and Uber, whereas SBI credit card doesn’t impose such merchant restrictions for its 5% rewards category. Moreover, although HDFC Ultimo offers double the number of domestic lounge visits, this benefit comes with a spend-based condition. HDFC credit card also lacks any milestone bonus apart from the fee waiver.

Note: This Card is not available on Paisabazaar. The content on this page is for information only. To express interest in this card, please visit SBI Card website.