Not long ago, SBI Card launched one of the best cashback credit cards in the country – the SBI Cashback Card. With 5% cashback on online shopping, it quickly became a popular choice and is still one of the most loved cards for earning rewards on everyday spends. Now, SBI Card has introduced another exciting card, this time in partnership with PhonePe. The new PhonePe SBI SELECT BLACK credit card is designed for people who use UPI and the PhonePe app often. It gives:
- 10% cashback on top categories like bill payments, recharges, food delivery, and movie tickets when done through the PhonePe app
- 5% cashback on other online shopping
- 1% cashback on UPI spends (through the RuPay card version)
- 1% cashback on all other card spends
This card is perfect for those who spend regularly on PhonePe and want to earn high cashback on daily needs. With strong rewards and UPI support, it could easily become the best all-round cashback card for many users in India.
Fees and Charges
| Fee/Charge | Amount / Details |
|---|---|
| Joining Fee | ₹1499 + GST ~₹1769 |
| Welcome Benefit | ₹1500 PhonePe Gift Card |
| Annual Renewal Fee | ₹1499 + GST ~₹1769 |
| Renewal Fee Waiver | Spend ₹3,00,000 in previous year |
With the welcome benefits fully offsetting the joining fee, the PhonePe SBI SELECT BLACK credit card is effectively free in the first year. From the second year onwards, an annual spend of ₹3 lakh is required to get the renewal fee waived.
Rewards
| Spend Category | Reward Rate | Monthly Cap |
|---|---|---|
| PhonePe (Recharges, Bills, Travel, Pincode via UPI) | 10% RP ~10% value back | 2000 RP |
| Online Platforms (Amazon, Flipkart, Swiggy, etc.) | 5% RP ~5% value back | 2000 RP |
| Other Spends | 1% RP ~1% value back | 2000 RP |
| Scan & Pay via UPI (RuPay Credit Card) | 1% RP ~1% value back | 500 RP |
⛔ No rewards on: EMI payments, fuel purchases, wallet loads, gift card purchases, cash withdrawals, credit card bill payments, government services, rent payments, education fees, investments
Kiwi RuPay Card
Lifetime FreeHow Much to Spend to Maximize Monthly Cashback?
To hit the reward caps on the PhonePe SBI SELECT BLACK credit card, here’s how much you need to spend each month:
- PhonePe categories (Recharges, Bills, Travel, Pincode via UPI): Spend ₹20,000 to earn the full 2000 reward points
- Online platforms (Amazon, Flipkart, Myntra, Swiggy, Zomato, etc.): Spend ₹40,000 to earn the full 2000 reward points
- Scan & Pay via UPI (RuPay Credit Card): Spend ₹2 Lakh to earn the full 2000 reward points
👉 Maximum cashback possible per month: ₹6,000 (1 RP = ₹1 when redeemed as statement credit)
BoB Eterna
Lifetime FreeMilestone Benefit
We also have a milestone benefit on this card. On completing ₹5 Lakh spends in a year, we get a Yatra voucher worth ₹5000.
Reward Points Redemption
Cashback is awarded as Reward Points, which can be redeemed at ₹1 = 1 RP against your statement balance (on request, minimum 500 points required).
Airport Lounge Access Benefit
| Benefit | Details |
|---|---|
| Complimentary Lounge Access | 4 domestic lounges per year (1 per quarter) |
| Eligibility Condition | None |
The lounge benefit on the PhonePe SBI SELECT BLACK credit card – 4 complimentary domestic lounge visits per year (1 per quarter) does not seem to have any spend conditions for now. Hope this stays as it is unlike the changes made on other credit cards.
Fuel Surcharge Waiver
We get a 1% fuel surcharge waiver on fuel transactions made using the PhonePe SBI SELECT BLACK credit card. This benefit is applicable on transactions between ₹400 and ₹5000, with a maximum waiver of ₹250 per statement cycle.
Pros and Cons of PhonePe HDFC Bank Ultimo Credit Card
Pros
Cons
It’s rare to come across a credit card with almost no downsides but the PhonePe SBI SELECT BLACK credit card comes very close. This card checks nearly every box: high cashback rates, generous monthly reward limits, and rewards across a wide range of spending categories including UPI, bill payments, online shopping, and more.
Even the annual fee of ₹1499 is fair, especially since it can be waived on reaching ₹3 lakh annual spend – something regular users can easily hit. Whether you’re paying bills, ordering food, or shopping online, this card gives you meaningful rewards on almost every transaction. In short, it’s one of the most well-rounded and rewarding cashback cards in the market right now and it’s hard to find any real complaints.
Should you get the PhonePe SBI SELECT BLACK credit card?
If you regularly use PhonePe, shop often on Amazon, Flipkart, or other online platforms, and prefer paying through UPI, the PhonePe SBI SELECT BLACK credit card is a great fit for your lifestyle. The joining fee of ₹1499 may seem slightly on the higher side, but it’s well justified considering the cashback you earn and the benefits you get. Plus, the fee is waived from the second year onwards if you spend ₹3 lakh in a year. That’s around ₹25,000 spend per month, which is doable for users who put their bills, groceries, shopping, and food delivery on a credit card. It gets even easier if you spend more on PhonePe categories that give 10% cashback, or use the card via UPI to earn 1% back.
What makes this card stand out is the straightforward cashback structure. You get:
- 10% cashback on select PhonePe spends (utilities, recharges, movie tickets, food delivery, etc.)
- 5% cashback on other online purchases
- 1% cashback on UPI spends
- 1% cashback on other regular card spends
Another big plus is airport lounge access, which many entry-level cards skip. The PhonePe SBI SELECT BLACK credit card offers 4 domestic lounge visits per year, with no spend conditions for now. Overall, this card offers great value for PhonePe users, with generous cashback, high reward caps, and useful benefits. This makes it one of the strongest all-round cashback cards in India right now.
Frequently Asked Questions
PhonePe SBI SELECT BLACK Credit Card
If opt to make insurance payment via phonepe using this card as Rupay Credit UPI option will it accrue RP?
Yes, it will.
What’s the minimum payment criteria for cashback?
This is tough one… It is unknown that rupay upi or normal credit card transaction gives cashback.
Can you confirm, I read on some other page that cashback limit in total across all categories combined is 2000rp per month only.
No, they are separate.
Can you confirm it if this card giving 5% reward points cashback on flipkart???
Yes, it does.
This card accepts insurance premiums as well as applicable cashback. pls let me know.
It does.
Ia there some reward redemption fee ? How to make redemption ?
No charges, you need to call them and ask for statement credit.
With this card shall we get instant discount on online sales? (Ex: Big billion/Great Indian festival)
Yes, it is not excluded for now as per the current T&C.