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PhonePe SBI Card SELECT BLACK Review
The PhonePe SBI Card SELECT BLACK is the premium offering in the SBI-PhonePe partnership, designed to deliver exceptional 10% return on PhonePe app spends like utilities and travel and 5% return on online shopping.
Overview
| Issued by | SBI Card |
|---|---|
| Network | Visa, RuPay |
| Joining fee | ₹1,499 |
| Annual fee | ₹1,499 |
| Fee waiver | 3 lakh annual spends |
| Reward rate | 10% |
| Forex markup | 3.5% |
| Expert score | 84/100 |
| Categories | Travel, UPI, Utilities, Cashback |
Who it is for
- Heavy PhonePe app users looking to maximize returns on utility bills, insurance, and recharges.
- Moderate online shoppers who want a flat 5% return without merchant restrictions.
- Users seeking a RuPay card to earn base rewards on everyday UPI QR code scans.
Cardileaf Verdict
- Best use cases: Utilizing this as your dedicated household utility card. Route all electricity, broadband, insurance, and DTH bills through the PhonePe app to max out the ₹20,000 threshold and extract ₹2,000 in pure statement credit every single month.
- Who should get this card: Users with high monthly utility and insurance bills who are comfortable using the PhonePe app, and moderate online shoppers looking for a flat 5% return without brand restrictions.
- Who should avoid it: High spenders who will instantly hit the low monthly caps (under ₹60,000 total spend limit across all accelerated categories), and frequent flyers seeking robust travel and lounge perks.
- Realistic reward expectation: If you spend ₹15,000 a month on PhonePe utilities/travel and ₹20,000 on online shopping, you will earn ₹1,500 + ₹1,000 = ₹2,500 per month. Over a year, this nets ₹30,000 in statement credit. Deducting the ₹1,499 fee (if you miss the ₹3L waiver), your pure profit is an outstanding ₹28,501.
- Comparison positioning in its segment: It competes directly with the Airtel Axis Bank Credit Card. While the Airtel card gives 10% on utilities, it strictly caps the utility cashback at a meager ₹250 per month. The PhonePe SBI SELECT BLACK offers a massive ₹2,000 cap for its 10% category. Despite the higher fee (₹1,499 vs ₹500), the PhonePe SBI card is mathematically vastly superior for families with high monthly utility and insurance expenses.
Reward Rate
| Category | Rate | Notes |
|---|---|---|
| Spends on PhonePe app | 10% | Cap 2000/month · The eligible categories are recharges, utilities, bill payments, insurance, flights, and hotels. |
| Eligible Online Spends | 5% | Cap 2000/month |
| Other Online, Offline and UPI Spends | 1% | Cap 2000/month |
Utilities & insurance paid outside the PhonePe app only earn 1 RP/₹100 (capped at 500 RP/month).
Welcome Benefits
- ₹1,500 PhonePe e-Gift Voucher within 45 days of paying the ₹1,499 joining fee.
Milestone Benefits
- ₹5,000 Yatra e-Voucher upon achieving annual spends of ₹5,00,000.
Benefits
Domestic Lounge Access
4 complimentary visits per year to domestic airport lounges, capped at 1 visit per quarter.
International Lounge Access
Complimentary Priority Pass Program membership worth $99 for the first 2 years. (Note: This is only a membership; actual visits are chargeable).
Fuel Surcharge Waiver
1% surcharge waiver on transactions between ₹500 and ₹4,000 with maximum waiver of ₹250 per statement cycle.
Hidden Catches & Exclusions
- Platform Restriction: Utilities & insurance paid outside the PhonePe app only earn 1 RP/₹100
- Utility Fee: 1% fee on utility payments if the total utility spend exceeds ₹50,000 in a billing cycle.
- Chargeable Priority Pass: The card advertises a $99 Priority Pass membership, but it does not include any free international lounge visits. Every time you enter an international lounge using the pass, your card will be charged the standard access fee (typically ~$35).
- Massive Exclusion List: You will earn zero reward points on fuel, rent, wallet loads, education, government services, EMIs, and cash withdrawals.
Fees & Charges
| Finance charges | 3.75% per month |
|---|---|
| Late payment | ₹100 - ₹1300 |
| Cash withdrawal | 2.5% (min ₹550) |
| DCC charges | 1.5% |
Cardholders can withdraw cash from ATMs in India and abroad using their credit card. Cash withdrawals incur a fee, and interest starts from the withdrawal date until the amount is fully repaid.
Eligibility
| Minimum age | 21 years |
|---|---|
| Income (salaried) | ₹35,000 per month |
| Income (self-employed) | ₹6 lakhs ITR |
| Credit score | 750+ |
Frequently Asked Questions
How do I redeem the reward points?
Reward points can be redeemed directly against your credit card statement balance (1 RP = ₹1), reducing your outstanding bill, or exchanged for gift vouchers on the SBI Card Rewards portal.
Do I get 10% back if I pay my electricity bill on the biller's website?
No. To earn the 10% (10 RP per ₹100), the transaction must be processed inside the PhonePe app. If paid outside, you only earn the base 1%, capped at 500 RP per month.
Does this card give free international lounge access?
No. It provides a complimentary Priority Pass membership (saving you the $99 joining fee), but all actual visits to international lounges will be charged to your credit card.
Will I earn rewards if I scan a QR code and pay via UPI?
Yes, because it is a RuPay card, UPI Scan & Pay transactions earn the base 1% reward rate (1 RP per ₹100), subject to the ₹2,000 monthly cap on base spends.