State Bank of IndiaPhonePe SBI Card SELECT BLACK – Benefits, Fees & Eligibility
Is the PhonePe SBI Card SELECT BLACK Right for You?
The PhonePe SBI Card SELECT BLACK is best suited for users who prioritize Shopping, Travel, Utilities. With a joining fee of ₹1,499 + taxes and a renewal fee of ₹1,499 + taxes, this card is positioned for cardholders who can maximize its benefits to justify the cost. It offers Reward Points as its primary reward mechanism, with a rewards rate of Earn 10 Reward Points per ₹100 on eligible PhonePe spends, 5 Reward Points per ₹100 on eligible online spends, and 1 Reward Point per ₹100 on all other spends..
Key Card Details
₹1,499 + taxes
₹1,499 + taxes
Reward Points
Notable Perks
Domestic Lounge Access
Enjoy 4 complimentary domestic lounge visits every year, with a maximum of 1 visit per quarter.
International Lounge Access
Complimentary membership to the Priority Pass Program worth $99 for the first two years.
Spend-Based Waiver
Annual Fee reversal on spends of ₹3 lakh or more in the previous membership year.
Things to Consider
The complimentary international lounge access (Priority Pass) is limited to the first two years.
The annual fee is not waived for the first year, only reversed from the second year onwards.
No specific benefits are mentioned for dining, movies, or golf, which might be a drawback for some users.
Benefits & Features
Welcome Offer
Receive a PhonePe e-Gift Card worth ₹1,500 upon joining.
Rewards Rate
Earn 10 Reward Points per ₹100 on eligible PhonePe spends, 5 Reward Points per ₹100 on eligible online spends, and 1 Reward Point per ₹100 on all other spends.
Reward Type
Reward Points
Reward Redemption
1 Reward Point equals Re. 1. Reward Points can be redeemed against a wide array of vouchers or for cash.
Domestic Lounge Access
Enjoy 4 complimentary domestic lounge visits every year, with a maximum of 1 visit per quarter.
International Lounge Access
Complimentary membership to the Priority Pass Program worth $99 for the first two years.
Travel Benefits
Get a Yatra e-Voucher worth ₹5,000 on achieving annual spends of ₹5 lakhs.
Fees & Charges
Joining Fee
₹1,499 + taxes
Renewal Fee
₹1,499 + taxes
Spend-Based Waiver
Annual Fee reversal on spends of ₹3 lakh or more in the previous membership year.
Fuel Surcharge Waiver
Enjoy a 1% fuel surcharge waiver on every transaction between ₹500 and ₹4,000 at all petrol pumps across India, with a maximum waiver of ₹250 per statement cycle.
Pros & Cons
Pros
Key benefits and features of this card.
Earn a high reward rate of 10 Reward Points per ₹100 on eligible PhonePe spends.
Receive a valuable PhonePe e-Gift Card worth ₹1,500 as a welcome benefit.
Benefit from a significant Yatra e-Voucher worth ₹5,000 on annual spends of ₹5 lakhs.
Enjoy comprehensive lounge access with 4 complimentary domestic visits and Priority Pass international membership for two years.
The annual fee can be reversed on achieving a reasonable spend threshold of ₹3 lakhs.
Cons
Key drawbacks and limitations of this card.
The complimentary international lounge access (Priority Pass) is limited to the first two years.
The annual fee is not waived for the first year, only reversed from the second year onwards.
No specific benefits are mentioned for dining, movies, or golf, which might be a drawback for some users.
Reward points are earned on "eligible" spends, implying certain exclusions may apply.
The reward redemption value is fixed at 1 RP = Re. 1, which may offer less flexibility compared to other cards.
Product Details
Make everyday payments effortlessly with the contactless Tap & Pay feature.
Withdraw cash from over 1 million Visa/Mastercard/American Express ATMs across the globe.
Convert eligible purchases of ₹2,500 or more into easy monthly EMIs with Flexipay.
Empower your family with add-on cards for parents, spouse, children, or siblings above 18 years of age.
Pay your electricity, telephone, mobile, and other utility bills using the Easy Bill Pay facility.
Transfer outstanding balances of other banks’ credit cards to your PhonePe SBI Card SELECT BLACK at a lower interest rate and repay in easy EMIs.
Benefits & Features
Welcome Offer
Receive a PhonePe e-Gift Card worth ₹1,500 upon joining.
Rewards Rate
Earn 10 Reward Points per ₹100 on eligible PhonePe spends, 5 Reward Points per ₹100 on eligible online spends, and 1 Reward Point per ₹100 on all other spends.
Reward Type
Reward Points
Reward Redemption
1 Reward Point equals Re. 1. Reward Points can be redeemed against a wide array of vouchers or for cash.
Domestic Lounge Access
Enjoy 4 complimentary domestic lounge visits every year, with a maximum of 1 visit per quarter.
International Lounge Access
Complimentary membership to the Priority Pass Program worth $99 for the first two years.
Travel Benefits
Get a Yatra e-Voucher worth ₹5,000 on achieving annual spends of ₹5 lakhs.
What matters, explained clearly
Introduction
The PhonePe SBI Card SELECT BLACK is a co-branded credit card designed for individuals who frequently use the PhonePe app and engage in online shopping. Issued by SBI Card, this card aims to turn your wishlist into rewards by offering an impressive 10% value back on PhonePe spends in the form of Reward Points. It stands out with its exclusive milestone benefits, comprehensive lounge access, and a robust rewards program, making it an attractive option for digital-savvy consumers seeking to maximize their savings and travel perks.
Welcome Benefits
As a welcome gesture, new cardholders receive a PhonePe e-Gift Card worth ₹1,500. This benefit provides an immediate value addition, allowing you to enjoy shopping or services on the PhonePe platform.
Fees
The PhonePe SBI Card SELECT BLACK comes with an Annual Fee of ₹1,499 + taxes. The Renewal Fee, applicable from the second year onwards, is also ₹1,499 + taxes. However, the Annual Fee can be reversed if your spends in the previous membership year amount to ₹3 lakh or more.
For fuel transactions, the card offers a 1% fuel surcharge waiver on transactions between ₹500 and ₹4,000 at all petrol pumps across India. A maximum waiver of ₹250 is applicable per statement cycle.
Rewards
The PhonePe SBI Card SELECT BLACK offers a multi-tiered rewards structure:
- PhonePe Spends: Earn 10 Reward Points for every ₹100 spent on eligible PhonePe transactions.
- Online Spends: Earn 5 Reward Points for every ₹100 spent on eligible online transactions.
- Other Spends: Earn 1 Reward Point for every ₹100 spent on all other categories.
Exclusive Milestone Benefits: Achieve annual spends of ₹5 lakhs and receive a Yatra e-Voucher worth ₹5,000, adding significant value for travel enthusiasts.
Rewards Redemption Guide
Every 1 Reward Point earned on the PhonePe SBI Card SELECT BLACK is equivalent to Re. 1. Cardholders have the flexibility to redeem their accumulated Reward Points against a wide array of vouchers or opt for a cash redemption, providing versatile options to utilize their rewards.
Card Review
Pros:
- High reward rate of 10 Reward Points per ₹100 on eligible PhonePe spends, ideal for frequent app users.
- Valuable welcome benefit of a ₹1,500 PhonePe e-Gift Card.
- Significant milestone benefit with a ₹5,000 Yatra e-Voucher on ₹5 lakh annual spends.
- Comprehensive lounge access with 4 complimentary domestic visits and Priority Pass international membership for two years.
- Annual fee waiver on achieving a reasonable spend threshold of ₹3 lakhs.
Cons:
- The complimentary international lounge access (Priority Pass) is limited to the first two years.
- The annual fee is not waived for the first year, only reversed from the second year onwards.
- No specific benefits are mentioned for dining, movies, or golf, which might be a drawback for some users.
- Reward points are earned on "eligible" spends, implying certain exclusions may apply.
- The reward redemption value is fixed at 1 RP = Re. 1, which may offer less flexibility compared to other cards.
Ideal User Profile: The PhonePe SBI Card SELECT BLACK is best suited for individuals who frequently use the PhonePe app for various transactions, including bill payments, shopping, and recharges. It also benefits those who make a significant portion of their purchases online and can meet the annual spend thresholds to unlock milestone benefits and fee waivers. Travelers will appreciate the domestic and international lounge access.
Verdict: The PhonePe SBI Card SELECT BLACK offers a compelling value proposition for its target audience, primarily driven by its accelerated rewards on PhonePe and online spends, coupled with valuable travel benefits. While the international lounge access is time-bound, the overall package of rewards, milestone benefits, and fee waiver makes it a strong contender for digital-first consumers.
Important Product Details
- Contactless Advantage: Enjoy the convenience of Tap & Pay for fast, secure, and effortless everyday payments. Your card remains in your hand, reducing the risk of loss or fraud.
- Cash Access Across the World: Withdraw cash from over 1 million Visa/Mastercard/American Express ATMs globally.
- Flexipay: Convert eligible purchases of ₹2,500 or more into easy monthly EMIs, offering flexibility in managing your expenses.
- Add-on Cards: Extend the benefits of your card to your family members by applying for add-on cards for your parents, spouse, children, or siblings above the age of 18.
- Easy Bill Pay Facility: Simplify your utility bill payments by using the Easy Bill Pay facility for electricity, telephone, mobile, and other bills.
- Balance Transfer on EMI: Save money on your credit card repayments by transferring outstanding balances from other banks’ credit cards to your PhonePe SBI Card SELECT BLACK at a lower interest rate, repayable in easy EMIs.
Other Details
All taxes would be charged as applicable on all fees, interest, and charges. The value proposition of this co-brand product may be jointly funded by SBI Card and PhonePe, with potential fee and revenue sharing between the parties. For assistance, you can call the SBI Card Helpline at 1860 180 1290 or 39 02 02 02 (prefix local STD code).