PhonePe SBI Card Review 2026: Earn Up to 10% Rewards on PhonePe & 5% Online
Looking for a credit card that can give you rewards on PhonePe payments, online shopping, and everyday spending?
The PhonePe SBI Card is a co-branded credit card from PhonePe and SBI Card that is designed around digital payments and rewards. It is available in different variants, including PhonePe SBI Card SELECT BLACK and PhonePe SBI Card PURPLE, with different reward rates and benefits.
The SELECT BLACK variant currently advertises up to 10% reward points on eligible PhonePe spends, 5% on eligible online spends, and 1% on other eligible spends.
If you’re interested in applying, you can check the offer through the referral link below.
👉 Apply Now
What Is the PhonePe SBI Card?
The PhonePe SBI Card is a co-branded credit card launched through a partnership between PhonePe and SBI Card.
The card is designed for people who regularly make digital payments, shop online, and use PhonePe for services such as recharges, bill payments, insurance, and other transactions.
There are two major variants:
- PhonePe SBI Card SELECT BLACK
- PhonePe SBI Card PURPLE
Both variants are available on RuPay and Visa networks. The RuPay version can also be linked to UPI for eligible merchant transactions.
PhonePe SBI Card Benefits
One of the biggest attractions of this card is its reward structure.
⚡ Up to 10% Rewards on PhonePe Spends
The PhonePe SBI Card SELECT BLACK offers up to 10% value back in reward points on eligible PhonePe spends such as:
- Mobile recharges
- Bill payments
- Insurance
- Flights
- Hotels
- Other eligible PhonePe transactions
The exact reward rate depends on eligible categories and applicable terms.
⚡ Up to 5% on Online Shopping
The SELECT BLACK variant offers up to 5% reward points on eligible online spends across a wide range of online merchants.
This can be useful for people who frequently shop online.
⚡ 1% on Other Eligible Spends
The card also offers 1% reward points on other eligible spends, including certain Scan & Pay and Tap & Pay transactions.
PhonePe SBI Card PURPLE Benefits
If you don’t need the premium SELECT BLACK variant, the PhonePe SBI Card PURPLE offers a lower-fee alternative.
Current advertised benefits include:
- Up to 3% reward points on eligible PhonePe and Pincode app spends
- Up to 2% reward points on eligible online spends
- 1% reward points on other eligible spends
- 1% fuel surcharge waiver
- Milestone benefits on eligible annual spending
The PURPLE card currently has a ₹499 annual fee, with a PhonePe gift voucher benefit of ₹500 after the first credit-card bill payment, subject to applicable terms.
PhonePe SBI Card SELECT BLACK Fees & Benefits
The SELECT BLACK variant currently has a ₹1,499 joining fee and a ₹1,499 renewal fee.
PhonePe currently advertises a ₹1,500 PhonePe gift voucher after the first credit card bill payment against the joining fee. In contrast, the renewal fee can be reversed when the applicable annual spending condition is met.
It also comes with additional benefits such as:
- Domestic airport lounge access
- Priority Pass membership
- Fuel surcharge waiver
- Travel voucher milestone benefit
- Reward-point redemption options
Terms and eligibility conditions apply.
How Do PhonePe SBI Card Rewards Work?
The reward system is one of the main reasons someone may consider this card.
For example, if you make an eligible PhonePe transaction using the SELECT BLACK card, you may earn reward points based on the applicable reward rate.
The current PhonePe page states that 1 Reward Point = ₹1, with redemption available through the SBI Card rewards system as statement credit or eligible gift vouchers.
However, reward categories, exclusions, limits, and eligibility can change, so always check the latest terms before applying or spending.
Can the PhonePe SBI Card Be Used With UPI?
Yes. The RuPay version of the PhonePe SBI Card can be linked to UPI for eligible merchant transactions.
This means users can potentially combine the convenience of UPI with their RuPay credit card for supported merchant payments.
However, a RuPay credit card linked to UPI is generally intended for eligible merchant payments, not ordinary person-to-person money transfers or bank-account transfers.
Who Should Consider the PhonePe SBI Card?
This card may be worth considering if you:
- Frequently use PhonePe
- Regularly recharge your mobile
- Pay utility or other bills through PhonePe
- Shop online frequently
- Want credit-card reward points
- Prefer a RuPay card that can be linked to UPI
- Want to earn rewards across different spending categories
It may be less suitable if you rarely use digital payments or don’t spend enough to justify the applicable card fee.
PhonePe SBI Card Referral Link
If you want to check the card application through the referral link shared for this article, use the link below:
🚀 Apply for PhonePe SBI Card
Use My Referral Link to Apply Now
Before applying, review the card’s latest eligibility criteria, fees, reward structure and terms.
Pros of PhonePe SBI Card
Pros:
- Up to 10% reward points on eligible PhonePe spends with SELECT BLACK
- Up to 5% reward points on eligible online spending
- 1% reward points on other eligible spends
- RuPay variant can be linked to UPI
- Additional travel and lounge benefits on SELECT BLACK
- Reward points can be redeemed through SBI Card’s redemption options
- Application available through the PhonePe ecosystem
Cons & Things to Remember
Cons:
- Different card variants have different benefits
- Annual/joining fees apply
- Reward rates depend on eligible categories
- Terms and exclusions apply
- Not every transaction necessarily earns the highest advertised reward rate
- Credit-card interest can become expensive if bills aren’t paid on time
PhonePe SBI Card vs Regular Credit Card
The biggest advantage of the PhonePe SBI Card is its focus on PhonePe and online spending.
If you use PhonePe frequently, the accelerated reward structure may be more attractive than a basic credit card.
However, the best card ultimately depends on your monthly spending pattern. Someone who spends mostly offline may prefer a different card with stronger offline rewards.
How to Apply for PhonePe SBI Card
The application process is designed to be completed digitally.
Step 1: Open the Application Link
Use the referral link:
PhonePe SBI Card Application Link
Step 2: Enter Your Details
Provide the required personal and application information.
Step 3: Select the Eligible Card
Depending on your eligibility and availability, you may see the applicable PhonePe SBI Card variant.
Step 4: Complete KYC
SBI Card will complete the required verification and KYC process.
Step 5: Wait for Approval
Final approval, credit limit, and card issuance are subject to SBI Card’s eligibility and approval criteria.
Final Verdict
The PhonePe SBI Card is an interesting option for people who already use PhonePe regularly and want to earn credit-card rewards on their digital spending.
The SELECT BLACK variant stands out with up to 10% reward points on eligible PhonePe spends, 5% on eligible online spends, and 1% on other eligible spends, while the PURPLE variant provides a lower-fee option with a different reward structure.
If your spending habits match the card’s eligible categories, it may be worth comparing it with other credit cards before applying.
🔥 Ready to Check the Offer?
Apply for the PhonePe SBI Card Here
Disclosure: This article contains a referral link. The publisher may receive a referral benefit if you apply through the link. Card approval, rewards, fees, cashback/value-back benefits, and eligibility are subject to the applicable PhonePe and SBI Card terms and conditions. Reward rates mentioned above are based on currently advertised benefits and may change.
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