PhonePe and SBI Card Join Forces: New Credit Cards That Reward Your Everyday Spending

In a big move to revolutionize the way Indians spend and earn rewards, SBI Card and PhonePe have teamed up to launch two co-branded credit cards — the PhonePe SBI Card SELECT BLACK and PURPLE. These cards are designed to seamlessly fit into your daily life while offering you meaningful benefits and rewards for your everyday expenses.

So, what makes these new cards worth considering? Let’s break it down.

SELECT BLACK vs PURPLE: Choosing the Right Fit

Both credit cards are crafted for digitally savvy users, but each comes with its own set of features.

If you’re someone who spends regularly on the PhonePe app, the SELECT BLACK card is your premium option. You can earn up to 10% back in reward points on PhonePe purchases and up to 5% back on other online shopping platforms. On the other hand, the PURPLE card offers a more budget-friendly entry point while still giving decent rewards.

The annual membership fees are INR 1,500 for SELECT BLACK and INR 500 for PURPLE. However, these fees are offset with e-gift vouchers from PhonePe, essentially making the cards free to own if you use them actively.

Earn While You Spend

From groceries and electricity bills to travel bookings and insurance premiums, spending with either card helps you accumulate reward points. If you’re meeting major milestones, there are travel benefits too. PURPLE cardholders get an INR 3,000 travel voucher for annual spending of INR 3 lakh, while SELECT BLACK users unlock an INR 5,000 voucher after spending INR 5 lakh in a year.

Regular travelers who use SELECT BLACK also receive additional benefits like lounge access at domestic airports and membership to Priority Pass, which makes airport visits slightly more comfortable.

Dual Network: RuPay + VISA Advantage

Such cards offer an exclusive dual-network advantage. You may select between RuPay or VISA based on your convenience.

With RuPay, the cards are directly integrated with UPI, so you can use your credit card for UPI payments at millions of merchants all over India. Tokenization is provided to VISA cardholders, which provides an additional layer of security for online transactions. Both flexibility and peace of mind come with this twin setup.

Fuel Surcharge Waiver and More

There's also a 1% waiver on fuel surcharge, which may not be a lot, but can translate into a significant sum over time if you use your card frequently. Handling your card is also simple — right from application to paying bills is done directly via the PhonePe app.

Why This Partnership Matters

Salila Pande, MD and CEO of SBI Card, reinforced that this partnership is likely to drive adoption of digital payments and credit card penetration in India. PhonePe's CEO, Sameer Nigam, too reiterated how the partnership will drive greater access of formal credit for millions of consumers.

These cards represent more than a simple rewards platform. They're part of a larger push to develop strong digital financial infrastructure for the nation. And with PhonePe continuing its incremental progress toward an IPO and strengthening its leadership ranks — including the recent hires of Shivnath Thukral and Zarin Daruwala — the firm appears well placed to help lead India's fintech future.

Final Thoughts

Whether you’re looking for top-tier travel perks or just want better value from your daily digital payments, the PhonePe SBI Cards offer something for everyone. With features tailored for both frequent spenders and value-conscious consumers, these new credit cards mark a significant step toward a more rewarding and seamless financial experience.

If you’re ready to make your everyday spending smarter, now might be a good time to explore what these cards have to offer — all from the convenience of your PhonePe app.