Travel on Points

PhonePe SBI SELECT BLACK Credit Card

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  • Joining fee

    ₹1,499 + GST

  • Annual fee

    ₹1,499 + GST

  • Best suited for

    Shopping, Utility Bills

  • Reward type

    Reward Points

Rewards

  • Rewards rate

    10 Reward Points/₹100 Spent on PhonePe, 5 Reward Points/₹100 Spent Online, and 1 Reward Point/₹100 on Other Valid Spends

  • Welcome benefits

    PhonePe Gift Voucher Worth ₹1,500

  • Reward redemption

    1 Reward Point = ₹1 and Can be Redeemed as Statement Credit or as Gift Vouchers

Benefits

  • Travel

    Complimentary Priority Pass Membership for the First Two Years

  • Domestic lounge

    4 Free Domestic Lounge Visits Each Year

Fees & charges

  • Spend-based waiver

    Annual Charges are Reversed on Spends of ₹3 Lakh

  • Foreign currency markup

    3.5%

  • Interest rates

    3.75% Per Month (45% Annually)

  • Fuel surcharge waiver

    1% Waiver on Fuel Transactions Between ₹500 and ₹4,000

  • Cash advance charges

    2.5% or ₹500 (Whichever is Higher)

Product highlights

  • This is a co-branded offering launched by PhonePe and SBI Card.
  • This card is most suited for those who use PhonePe for making various payments.
  • The PhonePe SBI Select Black Credit Card offers 10% Reward Points for PhonePe spends, 5% Reward Points for online spends, and 1% Reward Points for all other spends, including UPI.
  • Cardholders will also receive complimentary domestic airport lounge access with this card.
  • Although no international airport lounge access is offered, cardholders are eligible for a complimentary Priority Pass membership.

Pros & cons

Pros

  • The annual fee waiver is set at a spend of ₹3 lakh, which is quite reasonable considering all the benefits and features this card offers.
  • This card is extremely useful for everyday bills and insurance payments, which can be made via PhonePe. Such categories are not usually rewarded by credit cards.

Cons

  • Instead of the complimentary Priority Pass membership, it would have been more useful if the card offered access to international airport lounges.
  • There are no renewal fee benefits offered with this card.

FAQs

How many Reward Points will I earn for UPI payments?

All Scan and Pay transactions will earn 1 Reward Point for every ₹ 100 spent.

What are the annual charges for this card?

This card can be availed by paying a joining and annual charge of ₹1,499 + GST.