SBI Cashback vs PhonePe Black Select Card
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For years, the SBI Cashback Credit Card sat uncontested on the throne, widely crowned as the undisputed ‘King of Cashback’ in India. But with the launch of SBI PhonePe Select Black Credit Card the choice isn’t that simple anymore.
With the PhonePe Black Select Card offering massive 10% reward rates on bills & utilities along with Complimentary Airport Lounges—Is the original SBI Cashback Card finally being dethroned? Let’s find out which card actually deserves a spot in your wallet.
SBI Cashback vs PhonePe Black Select: Comparison
| Feature | SBI Cashback Credit Card | PhonePe Black Select Card |
|---|---|---|
| Joining Fee | ₹999 + GST | ₹1,499 + GST |
| Annual Renewal Fee | ₹999 + GST | ₹1,499 + GST |
| Annual Fee Waiver | On annual spends of ₹2 lakh | On annual spends of ₹3 lakh |
| Online Shopping Rewards | 5% cashback on eligible online spends | 5 RPs per ₹100 on eligible online spends (5% valueback up to ₹1,000/month) |
| PhonePe Transactions | No special rewards | 10 RPs per ₹100 on eligible PhonePe spends (10% valueback up to ₹2,000/month) |
| Offline Spending | 1% cashback | 1 RP per ₹100 (1% valueback up to ₹2,000/month) |
| Reward Redemption | Cashback auto-credited to card account | 1 Reward Point = ₹1 (statement credit or vouchers) |
| Airport Lounge Access | Not Available | 4 Domestic Lounge Visits (1 per quarter) |
| International Lounge | Not Available | Priority Pass Membership (First 2 Years) |
| Welcome Benefit | None | PhonePe e-Gift Card worth ₹1,500 |
| Milestone Benefit | None | Yatra Voucher worth ₹5,000 on ₹5 lakh annual spends |
| Fuel Surcharge Waiver | 1% (₹500–₹3,000 transactions) | 1% (₹500–₹4,000 transactions) |
| Best For? | Frequent online shoppers who prefer simple cashback. | PhonePe users who want higher rewards, travel perks, and lounge access. |
| Apply Here | Apply Now | Apply Now |
SBI PhonePe Credit Card Reward Points Explained
SBI PhonePe Black Select Credit Card offers Reward Points on different PhonePe, Online and UPI Spends:
- 10% Reward Points on PhonePe Spends (Up to 2,000 per month)
- On Mobile Recharge, Utility Payments
- Insurance (Up to 500 RPs per month)
- In app Travel Spends
- Maximum Cap: 500 RPs on Insurance and 1,500 on the rest PhonePe Spends.
- 5% Reward Points on all Online Spends (Up to 1,000 per month)
- Includes 1,000+ brands like Amazon, Swiggy, Zomato, Uber, Myntra, etc.
- 1% Reward Point on all Other Spends (Up to 2,000 per month)
- Includes PhonePe Scan & Pay (through RuPay Card), Offline Taps and more.
SBI Reward Points Value:
- 1 Reward Point = ₹1 when redeemed for Statement Credit or Gift Vouchers.
SBI PhonePe Black Select Card Reward Points (or RPs) can be redeemed as:
- Statement credit by calling SBI Card helpline number (Minimum 500 RPs), or
- Gift Vouchers on SBI Card Rewards Portal.
Cult Tips & Tricks to Maximize Your Cards
- Double Dip Discounts: You can purchase Gift Vouchers on discount from Cred App (especially from the deal of the day section) and claim 5% cashback on top of discounted vouchers. (Tip: Make sure the transaction is made through Razorpay and not through SBI Payments Portal).
- Bypass Utility Payment Restrictions: While the Recharge/Utility payments are not rewarded directly but you can purchase Amazon Pay Gift Card through Cred/Zepto or other online portals and get 5% cashback indirectly for Utility Payments.
- 5% Cashback on Offline Spends: Instead of offline swipes scan Bharat QR (where available) through SBI Card App through its QR Scanner.
- Annual Fee Waiver: Try connecting with SBI Card Chat Assistance for Annual Fee Waiver if you fall short of Annual Spends Milestone for Waiver.
- 5% Cashback on Gold Purchase: Buy gold from Amazon or Flipkart using gift vouchers purchased online (yields 5% cashback).
WhatsApp Channel: If you are a regular gold buyer then you can join Good Deals India WhatsApp Channel for gold deal alerts!
Cult Conclusion: Which One to Apply For?
SBI PhonePe Select Black Credit Card offers a bundle of benefits covering not just online spends but Utility, Insurance, Complimentary Domestic as well as International Lounge Access.
While SBI Cashback Card is a straightforward card offering 5% cashback on online spends credited to the statement automatically but lacks 10% rewards on Utilities, Lounges, Welcome and Milestone Benefits like SBI PhonePe Select Credit Card.
Saurabh | Founder & Content Writer at CreditCult.in
For the last 7 years, I’ve been obsessed with the Indian credit ecosystem—testing cards, deconstructing reward programs, and finding the tiny loopholes banks don’t want you to see. I don’t just write about these accounts; I use them daily to ensure the advice I give is backed by real-world results.
We hope you liked our detailed comparison blog:SBI Cashback vs PhonePe Black Select Credit Card. Checkout this blog for a detailed review of SBI Cashback Credit Card Review | King of Cashback Cards.
