PhonePe SBI Card SELECT BLACK Review
PremiumSBI Card
Quick Facts
Joining Fee₹1,499
Renewal Fee₹1,499
Best ForCo-branded
Forex Markup1.99%
30-Second Verdict
Expert VerdictThe PhonePe SELECT BLACK represents a solid premium choice, balancing strong category-specific rewards with travel perks for everyday affluent spenders.
Luxury & Lifestyle•High Reward Yield
Who Should Apply
- You spend at least ₹2,00,000 annually to waive fees.
- You value airport lounge access and travel perks.
- You want a steady return rate of 2% on standard spends.
Who Should Skip
- Your average monthly card spends are less than ₹25,000.
- You prefer cash statement credits over travel reward point transfers.
Key Numbers
Base Reward Rate
2 RP / ₹100
Accelerated Rate
1.5X
Forex Markup
1.99%
Joining Fee
₹1,499
Annual Fee
₹1,499
Eligibility
Age: 21 - 70 Years
Salaried & Self-employed. Available through PhonePe app.
Domestic Lounge
2/Quarter
Primary: Yes • Add-on: No • Guest: No
Reward Point Mechanics
Understanding how your spends translate into real-world value is key. Here is how you earn, translate, and redeem your reward points.
Earning Blueprint
Accrual & MultipliersBase Earn Rate:2 RP / ₹100
Multipliers & Milestones:
Merchant-Specific 2.5x5% yield
5% rewards (5 RP per ₹100) on PhonePe app transactions (Bill payments, recharges, insurance, flights, hotels), subject to capping.Accelerated 1.5x3% yield
3% rewards (3 RP per ₹100) on eligible online spends (Amazon, Flipkart, Swiggy, Zomato, Uber, Myntra, etc.), subject to capping.Point Translation
Value depends on how you redeemStandard Currency Point Value
1 PhonePe Reward Points = ₹1
when redeemed for flights/travelRedemption Values:
Statement Credit:₹1 per pt
Gift Vouchers:₹1 per pt
Partner Transfers
Miles conversion ratiosAir Arabia AA RewardsRatio 2:1
AirAsia RewardsRatio 1:1
Air Canada AeroplanRatio 1:1
Flying BlueRatio 1:1
Air India Maharaja ClubRatio 1:1
British Airways Executive ClubRatio 1:1
Cathay Pacific Asia MilesRatio 1:1
Etihad GuestRatio 1:1
Emirates SkywardsRatio 2:1
Ethiopian ShebaMilesRatio 2:1
JAL Mileage BankRatio 2:1
Saudia AlFursanRatio 2:1
SpiceClubRatio 1:1
Royal Orchid PlusRatio 1:1
Turkish Miles &SmilesRatio 2:1
United MileagePlusRatio 2:1
Qantas Frequent FlyerRatio 1:1
Vietnam Airlines LotusmilesRatio 1:1
ALL - Accor Live LimitlessRatio 2:1
IHG One RewardsRatio 1:1
Club ITCRatio 2:1
Jumeirah OneRatio 2:1
Orchid RewardsRatio 1:1
Wyndham RewardsRatio 1:1
Shangri-La CircleRatio 6:1
Radisson RewardsRatio 1:1
Welcome to our comprehensive review of the PhonePe SBI Card SELECT BLACK. We decode the card's fees, reward rates, monthly caps, and overall value to help you decide if it fits your wallet.
1. Airport Lounge Access
- Domestic lounges: 8 complimentary visits per year (max 2 visits per quarter), subject to spending ₹50,000 in the previous calendar quarter.
- International lounges: None.
2. Rewards Rate & Value
- PhonePe App: Earns 5% rewards (5 RP per ₹100 spend) on bill payments, recharges, insurance, flights, and hotels booked through PhonePe.
- Online Retail Spends: Earns 3% rewards (3 RP per ₹100 spend) on major online partners (Amazon, Flipkart, Swiggy, Zomato, Uber, Myntra, etc.).
- General Spends: Earns 2% rewards (2 RP per ₹100 spend).
3. Important Caps & Exclusions
- Effective July 2026, monthly rewards are capped at 500 RP for PhonePe Insurance, 1,500 RP for other PhonePe spends, and 1,500 RP for online retail spends.
- No rewards are earned on rent, wallet loads, EMI transactions, jewellery, education, fuel, and government transactions.
4. Verdict
- Choose this card if you spend heavily on the PhonePe ecosystem, want a strong 2% base rate, and require domestic lounge access.
Exclusions & Caps Warning
- Spends on Rent, Government transactions, and Wallet Loads are excluded from the annual waiver threshold of ₹2,00,000.
- Fuel transactions do not earn standard reward points, but are eligible for a 1% surcharge waiver up to ₹500/month.
- Cashback is capped at ₹5,000 per billing cycle.
- Cash advances, balance transfers, and EMI conversions do not earn reward points.
Pros & Cons
Advantages | Disadvantages |
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Rewards Point Calculator
Estimate your annual rewards based on your customized spending profile. Slide the bars to adjust your spends and see the total reward points earned.
Total Reward Points Earned
29,000
Points / Year
Ranked Leaderboard
| Rank | Card Name | Issuer | Annual Fee | Base Yield |
|---|---|---|---|---|
| #1 | PhonePe SELECT BLACK | SBI Card | ₹1,499 | 2% |
Editor's Top Picks
Best Value Return
SBI Card PhonePe SELECT BLACK offers the best base yield on general spends.
Redemption Sweet Spots
Best Value Redemption Strategy: Redeeming points for statement credits yields poor value. Instead, transfer points to airline/hotel loyalty programs (like Marriott Bonvoy or airline miles) to secure maximum value per point.
Cardswise Score
8.5
Rewards8/10
Travel Perks7/10
Lifestyle6/10
Value for Money9/10
Frequently Asked Questions
What is the spending limit on the card?
The card limit is determined based on your credit score, ITR/salary documents, and existing credit relationship with the issuing bank.
How do you apply for this card?
You can apply online via the issuer's portal, netbanking, or by visiting a local branch with income proof documents.
Do reward points expire?
The reward points are typically valid for 24 months.
PhonePe SELECT BLACK
₹1,499 Joining Fee