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PhonePe SBI Card SELECT BLACK
Annual fee₹1,499
RewardsPoints
SBI • VisaOnline shopping

PhonePe SBI Card SELECT BLACK

Updated 12 Feb 2026StaleConfidence pending3 sources checked
Freshness warning: last verified 232 days ago (12 Feb 2026). Treat fees, rewards, lounge access, and offers as stale until refreshed.

Current point caps verified; exact earn and redemption economics require issuer program review before estimates.

Before deciding

Use only eligible PhonePe channels and verify point redemption value before comparing with cashback

Skip it if

Effective 1 July 2026: eligible PhonePe spends capped at 2,000 reward points/month; other eligible online spends capped separately...

Latest change: Reward caps and non-PhonePe exclusions revised effective 1 July 2026

For Travel & lounge access. Reward estimate withheld; review model limits. ₹1,499 fee, waiver at ₹3,00,000 / year. Verify the lounge spend rule before applying.

Quick Overview

What matters before you apply.

You should be able to scan the fee, waiver rule, best use case, lounge condition, and biggest downside in one pass.

Why get it

Why you should get it

Travel & lounge access

  • PhonePe SBI Card SELECT BLACK should be treated as a fintech-premium co-brand card blending app-led convenience with lifestyle-travel support features.
  • Use for PhonePe ecosystem and selected travel/online lanes while tracking if the premium positioning translates to real net value.
  • Review monthly statements and re-route spend once marginal returns weaken outside the intended category lanes.
  • Membership fee: ₹1,499 before applicable taxes. Waived on eligible annual spends of ₹300,000
Why skip it

Why you may regret it

These are the rules and drawbacks most likely to make the card feel disappointing after signup.

  • Effective 1 July 2026: eligible PhonePe spends capped at 2,000 reward points/month; other eligible online spends capped separately at 2,000 points/month.
  • Other-spend bucket capped at 1,000 reward points/month. These are points, not rupee cashback caps.
  • No points on tolls/bridges MCC 4784, gift/souvenir MCC 5947, jewellery MCC 5094/5944, education MCC 8220, non-PhonePe utilities MCC 4900/4814/4899, non-PhonePe insurance MCC 5960/6300/6380, and non-PhonePe UPI.
  • PhonePe accelerated rewards are channel-specific; UPI outside PhonePe is excluded.
Annual Fee₹1,499Joining fee ₹1,499
Spend to Waive Fee₹3,00,000 / yearWaived on eligible annual spends of ₹300,000
Best Category ReturnWithheldModel limits
Lounge Access ConditionCheck terms42 lounge rows mapped

Quick notes

How to use the card well, and what to watch before applying.

How to use it well

  • Use only eligible PhonePe channels and verify point redemption value before comparing with cashback.

Watch before applying

  • Effective 1 July 2026: eligible PhonePe spends capped at 2,000 reward points/month; other eligible online spends capped separately at 2,000 points/month.
  • Other-spend bucket capped at 1,000 reward points/month. These are points, not rupee cashback caps.
  • No points on tolls/bridges MCC 4784, gift/souvenir MCC 5947, jewellery MCC 5094/5944, education MCC 8220, non-PhonePe utilities MCC 4900/4814/4899, non-PhonePe insurance MCC 5960/6300/6380, and non-PhonePe UPI.
  • PhonePe accelerated rewards are channel-specific; UPI outside PhonePe is excluded.
Compare or Switch

What to do if this card is close, but not perfect.

Compare this card side-by-side or jump into a few strong alternatives before you move into the deeper research sections.

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