PhonePe SBI Card SELECT BLACK
SBI Card · Checked 2026-10-09
PhonePe SBI Card SELECT BLACK is a paid card focused on straightforward cashback, online spending and shopping rewards, charging ₹1,499 annually before GST.
CardIQ editorial view
Our take
PhonePe SBI Card SELECT BLACK is a paid card focused on straightforward cashback, online spending and shopping rewards, charging ₹1,499 annually before GST.
Who it suits
- People who prioritise straightforward cashback.
- People who prioritise online spending.
- People whose normal usage can recover the annual fee through relevant benefits.
Key strengths
- 10 points per ₹100 on eligible PhonePe categories; 5 per ₹100 on eligible online spends; 1 per ₹100 on other eligible spends.
- PhonePe acceleration covers recharges, utilities, bills, insurance and travel; Scan & Pay earns the base rate. UPI outside PhonePe earns no points from 1 July 2026.
- Four domestic lounge visits yearly, at most one per quarter.
Trade-offs to understand
- 1 point = ₹1. PhonePe non-insurance capped at 1,500 points/month and insurance at 500; online capped at 1,000 and other spends at 2,000.
- Four domestic lounge visits yearly, at most one per quarter.
- The ₹1,499 annual fee plus GST needs to be justified by benefits you will actually use.
CardIQ verdict
It deserves a place on the shortlist when your normal spending makes 10 points per ₹100 on eligible phonepe categories; 5 per ₹100 on eligible online spends; 1 per ₹100 on other eligible spends valuable enough to clear the fee. Factor in this condition: 1 point = ₹1. PhonePe non-insurance capped at 1,500 points/month and insurance at 500; online capped at 1,000 and other spends at 2,000.
Compare before deciding
- Samsung Axis Bank Signature — A lower-fee way to compare similar strengths in online spending and straightforward cashback.
- RBL Bank Patanjali Swarn — A similarly priced alternative for comparing shopping rewards and reward points.
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Benefits, limits and conditions
- 1 point = ₹1. PhonePe non-insurance capped at 1,500 points/month and insurance at 500; online capped at 1,000 and other spends at 2,000.
- PhonePe acceleration covers recharges, utilities, bills, insurance and travel; Scan & Pay earns the base rate. UPI outside PhonePe earns no points from 1 July 2026.
- Four domestic lounge visits yearly, at most one per quarter.