Introduction: Revolutionary Digital Banking Meets Premium Credit Cards

The Indian credit card landscape just witnessed a game-changing moment on July 22, 2025, with the launch of two innovative co-branded credit cards that perfectly blend digital convenience with rewarding benefits. The PhonePe SBI Card SELECT BLACK and PhonePe SBI Card PURPLE have arrived to transform how Indians experience digital payments and credit card rewards.

These co-branded credit cards represent a strategic partnership between SBI Card (as the banking partner) and PhonePe's digital payment ecosystem, creating a seamless financial experience for modern consumers. Whether you're a heavy PhonePe user, frequent online shopper, or someone looking for value-driven credit cards, these offerings are designed to maximize your spending power while delivering exceptional value.

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PhonePe SBI Card SELECT BLACK

The SELECT BLACK card is designed for discerning customers who want premium benefits without the hefty price tag typically associated with super-premium cards. At just ₹1,499 + GST annually, it delivers exceptional value for money while offering accelerated rewards on digital spending. Available in both Visa and RuPay variants, cardholders can choose their preferred network based on acceptance preferences and usage patterns.

Detailed Features & Benefits

Fees Structure

• Joining Fee: ₹1,499 + GST (one-time)
• Annual Fee: ₹1,499 + GST
• Fee Reversal: Completely waived on annual spending of ₹3,00,000 or more
• Welcome Bonus: ₹1,500 PhonePe gift card (credited within 45 days of joining fee payment)

The fee structure is incredibly customer-friendly – spend just ₹25,000 per month to get your annual fee waived completely, making this card practically free for active users.

Reward Points Program

The SELECT BLACK offers industry-leading rewards with a straightforward structure:

PhonePe Transactions (Maximum benefit category):

• 10 Reward Points per ₹100 spent (10% return rate)
• Monthly cap: 2,000 RP (equivalent to ₹20,000 spending)
• Covers all PhonePe payments including bill payments, recharges, shopping etc

Online Shopping:

• 5 Reward Points per ₹100 spent (5% return rate)
• Monthly cap: 2,000 RP (equivalent to ₹40,000 spending)

All Other Purchases:

• 1 Reward Point per ₹100 spent (1% return rate)
• Monthly cap: 2,000 RP (equivalent to ₹2,00,000 spending)
• Covers offline retail, dining, entertainment, and general purchases

Utilities & Insurance (Non-PhonePe):

• 1 Reward Point per ₹100 spent
• Monthly cap: 500 RP (equivalent to ₹50,000 spending)

UPI Scan & Pay:

• 1 Reward Point per ₹100 spent

Milestone Benefits:

• ₹5,000 Yatra voucher on reaching ₹5,00,000 annual spending milestone

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Airport Lounge Access:

• 4 complimentary domestic lounge visits per year (1 per quarter)
• Priority Pass membership for international lounge access
• Perfect for frequent travelers who want premium comfort without paying premium prices

⁠Fuel Benefits: 1% fuel surcharge waiver on transactions between ₹500-₹4,000

• Maximum benefit: ₹250 per statement cycle
• Applicable at all fuel stations across India

Redemption Options

• 1 Reward Point = ₹1 (no complex conversion ratios)
• You can redeem your Reward Points against a wide array of vouchers or for cash

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PhonePe SBI Card PURPLE

The PURPLE card is crafted for young professionals, students, and first-time credit card users who want to maximize their digital spending rewards without paying high annual fees. At just ₹499 + GST, it's one of the most affordable cards offering PhonePe integration benefits. Available in both Visa and RuPay variants, users can select their preferred payment network for optimal acceptance and convenience.

Detailed Features & Benefits

Fees Structure

• Joining Fee: ₹499 + GST (one-time)
• Annual Fee: ₹499 + GST
• Fee Reversal: Completely waived on annual spending of ₹1,00,000 or more
• Welcome Bonus: ₹500 PhonePe gift card (credited within 45 days of joining fee payment)

With spending of just ₹8,334 per month, your annual fee is completely waived.

Reward Points Program

PhonePe Transactions:

• 3 Reward Points per ₹100 spent (3% return rate)
• Monthly cap: 1,000 RP (equivalent to ₹33,333 spending)
• Excellent for regular PhonePe users who pay bills, recharge, shop etc

Online Shopping:

• 2 Reward Points per ₹100 spent (2% return rate)
• Monthly cap: 1,000 RP (equivalent to ₹50,000 spending)

All Other Purchases:

• 1 Reward Point per ₹100 spent (1% return rate)
• Monthly cap: 1,000 RP (equivalent to ₹1,00,000 spending)
• Competitive baseline reward rate for all other spending

UPI Scan & Pay via PhonePe:

• 1 Reward Point per ₹100 spent
• You can redeem your Reward Points against a wide array of vouchers or for cash

Milestone Benefits:

• ₹3,000 Yatra voucher on reaching ₹3,00,000 annual spending milestone

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Fuel Benefits:

• 1% fuel surcharge waiver on transactions between ₹500-₹3,000
• Maximum benefit: ₹100 per statement cycle

Detailed Comparison Table

Common Exclusions: What Doesn't Earn Rewards

Both cards have identical exclusion categories to maintain program integrity:

No Reward Points On:

• Fuel transactions (separate surcharge waiver benefit available)
• Wallet loading and prepaid instrument top-ups
• Rent payments and property management fees
• EMI transactions and equated installments
• Educational institution fees and course payments
• Government payments including taxes and fees
• Digital gaming and gambling transactions
• Cash withdrawals and cash advances
• Balance transfers and other financial transactions

These exclusions are industry-standard and help maintain the sustainability of the rewards program while preventing misuse.

Step 1: Visit The SBI Card Portal

Navigate to the official SBI Card website . Look for the PhonePe SBI Credit Card section and choose your preferred card variant.

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Step 2: Choose Your Credit Card

Select between the SELECT BLACK (premium option) or PURPLE (value option) based on your spending patterns and benefit preferences reviewed in this article.

Step 3: Keep Documents Ready

Ensure you have the following documents readily available:

• PAN Card (mandatory for all credit card applications)
• Aadhaar Card (for identity and address verification)
• Income proof (salary slips, ITR, bank statements)

Step 4: Complete Application & Video KYC

• Fill out the online application form with accurate details
• Submit required documents digitally
• Complete the video KYC process from the comfort of your home
• Wait for approval notification (typically 7-10 working days)

Pro Tip: Ensure all information matches exactly with your documents to avoid processing delays.

Frequently Asked Questions (FAQs)

1. What is the minimum income requirement for PhonePe SBI Credit Cards?

The minimum income requirement varies by location and employment type. Generally, salaried individuals need ₹4-5 lakhs annual income, while self-employed applicants may need higher income proof. SBI Card evaluates applications based on multiple factors including credit score, banking relationship, and income stability.

2. How quickly will I receive my PhonePe SBI Credit Card after approval?

After approval, physical cards are typically delivered within 7-10 working days. You may receive instant digital card access through the SBI Card app for immediate use on online transactions and PhonePe payments.

3. Can I use PhonePe SBI Credit Cards for international transactions?

Yes, both cards are enabled for international usage including online international transactions and overseas spending. Standard foreign exchange markup fees apply as per SBI Card's terms and conditions.

4. What is the credit limit I can expect on these cards?

Credit limits are determined based on your income, credit score, banking relationship, and overall creditworthiness. Typically, limits start from ₹20,000 and can go much higher based on your profile.

5. How do I redeem reward points earned on PhonePe SBI Credit Cards?

Reward points can be redeemed through multiple channels:

• Statement Credit: Direct adjustment against your outstanding balance
• SBI Card Rewards Portal: Wide variety of gift vouchers and merchandise

6. Are there any spending-based fee waivers available?

Yes! Both cards offer complete annual fee waivers:

• SELECT BLACK: Waived on ₹3,00,000+ annual spending
• PURPLE: Waived on ₹1,00,000+ annual spending This makes both cards essentially free for regular users.

7. What happens if I don't meet the fee waiver spending threshold?

If you don't meet the annual spending threshold, the annual fee will be charged to your card account. However, given the reasonable thresholds (₹25,000 per month for SELECT BLACK and ₹8,334 per month for PURPLE), most active users easily qualify for fee waivers.

8. Can I convert large purchases to EMIs using these cards?

Yes, both cards offer flexible EMI conversion options for purchases above certain amounts (typically ₹2,500+). You can convert purchases to EMIs either at the time of purchase or after the transaction through the SBI Card app or customer service.

9. What security features do PhonePe SBI Credit Cards offer?

These cards come with advanced security features including:

• Chip and PIN technology for secure transactions
• Contactless payment capability for tap-and-pay convenience
• Real-time SMS alerts for all transactions
• Instant card blocking through app or customer service
• Zero liability protection against fraudulent transactions

10. How does the airport lounge access work for SELECT BLACK card?

The SELECT BLACK card offers:

• 4 complimentary domestic lounge visits per year (1 per quarter)
• Priority Pass membership for international lounge access
• Access is subject to lounge availability and standard terms
• Additional visits can be purchased at standard rates

11. Is there a limit on PhonePe transaction rewards?

Yes, there are monthly caps to ensure program sustainability:

• SELECT BLACK: Maximum 2,000 RP per month on PhonePe spends (₹20,000 spending)
• PURPLE: Maximum 1,000 RP per month on PhonePe spends (₹33,333 spending) These caps are quite generous for regular users.

12. Can I use these cards for business expenses?

While these are personal credit cards, you can use them for legitimate business expenses. However, ensure you maintain proper records for tax and accounting purposes. Some business-related transactions may fall under excluded categories.

13. What customer support options are available?

SBI Card provides comprehensive customer support through:

• 24/7 phone support with dedicated helplines
• Mobile app with chat support and self-service options
• Email support for detailed queries
• Branch network across India for in-person assistance
• Social media support for quick query resolution

14. Are there any annual spending milestones beyond the fee waiver?

Yes! Both cards offer attractive milestone benefits:

• SELECT BLACK: ₹5,000 Yatra voucher on ₹5,00,000 annual spending
• PURPLE: ₹3,000 Yatra voucher on ₹3,00,000 annual spending These vouchers can be used for flight bookings, hotel reservations, and holiday packages.

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Important Disclaimers

Affiliate Disclosure

We may earn compensation if you apply through our affiliate links. Our reviews remain independent and unbiased.

Important Notice

All benefits and terms are subject to change. Please verify current offers on the official SBI Card website before applying.

Last Updated: July 22, 2025 Source: Official SBI Card communications and terms & conditions