Paytm, PhonePe, Tata Neu & Flipkart SBI Credit Cards — The Complete Honest Comparison
All features, cashback rates, annual fees, eligibility, pros & cons — and which card is actually best for you in 2026.
Why These 4 SBI Co-Branded Credit Cards Are Worth Your Attention in 2026
SBI Card — India’s largest pure-play credit card issuer with 20 million+ cards in force — has partnered with four of India’s biggest digital brands to launch co-branded credit cards designed for everyday Indian users. Each card is tailored to a specific spending ecosystem:
Best for Paytm super-app users. Wallet, travel, Paytm Mall.
Best for PhonePe UPI & bill payment heavy users.
Best for Tata ecosystem — BigBasket, Croma, Air India, Taj Hotels.
Best for Flipkart, Myntra & Cleartrip shoppers.
All cards are issued by SBI Card in partnership with the respective brands, available on Visa, Mastercard, or RuPay networks, and governed by RBI regulations. All data below is sourced directly from SBI Card’s official website and verified third-party financial sources.
Annual Fee
SELECT Annual Fee
💰 Cashback / Reward Structure
Redemption:
1 Reward Point = ₹1. Points credited as Paytm Gift Voucher balance within 3 working days of transaction. Minimum redemption: ₹100. No cashback on wallet loads or fuel transactions.
🎁 Welcome Benefits
- Paytm SBI Card: Complimentary Paytm First Membership (benefits worth up to ₹25,000)
- Paytm SBI Card SELECT: Paytm First Membership + ₹750 cashback on first transaction
✈️ Travel & Other Benefits
- 🔴 Paytm SBI Card: No lounge access
- ✅ Paytm SBI Card SELECT: 4 complimentary domestic lounge visits/year (1 per quarter) + Priority Pass membership (first 2 years)
- ⛽ 1% fuel surcharge waiver on transactions ₹500–₹3,000 (max ₹100/cycle)
- 🛡️ Cyber Fraud Insurance: ₹1 lakh (Regular) / ₹2 lakh (SELECT)
📋 Fees & Charges
| Charge | Paytm SBI Card | Paytm SBI Card SELECT |
|---|---|---|
| Joining Fee | ₹499 + GST | ₹1,499 + GST |
| Annual Renewal Fee | ₹499 + GST | ₹1,499 + GST |
| Annual Fee Waiver | No fee waiver — but Paytm First Membership renewed on ₹1L spend | No fee waiver — Paytm First Membership renewed on ₹1L spend |
| Interest Rate | 3.5% per month (42% p.a.) | 3.5% per month (42% p.a.) |
| Late Payment Fee | Up to ₹1,300 | Up to ₹1,300 |
| Forex Markup | 3.5% | 3.5% |
| Cash Advance Fee | 2.5% (min ₹500) | 2.5% (min ₹500) |
🏆 Milestone Benefits (SELECT Variant)
- Spend ₹4 lakhs/year → ₹2,000 gift voucher
- Spend ₹6 lakhs/year → ₹4,000 gift voucher
- Spend ₹1 lakh/year → Paytm First Membership renewal
✅ Pros
- 👍Lowest joining fee among all (₹499)
- 👍Paytm First Membership = benefits worth ₹25,000
- 👍Simple cashback — credited as Paytm balance
- 👍Cyber Fraud Insurance included
- 👍Relaxed eligibility — no credit history strict requirement
❌ Cons
- 👎No annual fee waiver option
- 👎No lounge access on base variant
- 👎High forex markup (3.5%) — not for international use
- 👎Cashback restricted to Paytm ecosystem
- 👎No dining benefits
Best For:
Regular Paytm users who pay bills, book travel & movies, and shop on Paytm Mall frequently. Ideal as a first credit card for those with limited credit history.
Annual Fee
Annual Fee
💰 Reward Points Structure
1 Reward Point = ₹1 · Redeemable as Statement Credit or Gift Vouchers on SBI Card Rewards Portal
SELECT BLACK (Premium)
PURPLE (Entry)
UPI Credit Card Feature:
Both variants available on RuPay — can be linked as UPI credit card within the PhonePe app. Earn 1% rewards even on UPI Scan & Pay transactions at merchants.
🎁 Welcome Benefits
- SELECT BLACK: ₹1,500 PhonePe gift card on first bill payment (effectively covers joining fee)
- PURPLE: ₹500 PhonePe e-gift voucher within 45 days of joining
✈️ Travel & Milestone Benefits
- ✅ 4 complimentary domestic lounge visits/year (1 per quarter) — both variants
- ✅ Complimentary Priority Pass membership (first 2 years) for SELECT BLACK
- 🏆 SELECT BLACK Milestone: ₹5,000 Yatra travel voucher on ₹5 lakh annual spend
- 🏆 PURPLE Milestone: ₹3,000 Yatra travel voucher on ₹3 lakh annual spend
- ⛽ 1% fuel surcharge waiver (₹500–₹4,000, max ₹250/month for SELECT BLACK; max ₹100/month for PURPLE)
📋 Fees & Charges
| Charge | PURPLE | SELECT BLACK |
|---|---|---|
| Joining Fee | ₹499 + GST | ₹1,499 + GST |
| Annual Renewal Fee | ₹499 + GST | ₹1,499 + GST |
| Annual Fee Waiver | On ₹1,00,000 annual spend | On ₹3,00,000 annual spend |
| Interest Rate | 3.75% per month (45% p.a.) | |
| Forex Markup | 3.5% | |
| Lounge Access | 4 domestic visits/year | 4 domestic + Priority Pass (intl) |
✅ Pros
- 👍10% back on ALL PhonePe bill payments (unique — bills usually excluded elsewhere)
- 👍5% on all online spends — no merchant restriction
- 👍Welcome benefit offsets joining fee fully
- 👍UPI credit card functionality via RuPay
- 👍Easy fee waiver (₹3L for SELECT BLACK)
❌ Cons
- 👎Monthly cap of ₹2,000 pts limits high spenders
- 👎Priority Pass membership — no complimentary international lounge visits
- 👎High forex markup (3.5%) — avoid for international travel
- 👎No renewal/milestone benefits beyond Yatra voucher
Best For:
Heavy PhonePe users who pay utility bills, recharges, insurance and travel via PhonePe. SELECT BLACK is exceptional value for frequent online shoppers who want broad 5% rewards without platform restrictions.
Annual Fee
Annual Fee
Rewards Currency: NeuCoins (1 NeuCoin = ₹1, redeemable on Tata Neu app/website only)
Tata Partner Brands: Air India & Air India Express, BigBasket, Croma, IHCL (Taj Hotels), Tata CliQ, Tata 1MG, Titan, Tanishq, Westside, Qmin
💰 NeuCoins Reward Structure
Tata Neu Infinity SBI Card (Premium)
Tata Neu Plus SBI Card (Entry)
NeuCoin Caps (Monthly):
Grocery: 2,000 NeuCoins · Insurance: 2,000 · Utility: 2,000 · Telecom/Cable: 2,000 · UPI: 500 NeuCoins/month. NeuCoins NOT earned on fuel, wallet loads, rent, EMI, government, education payments. NeuCoins validity: 12 months from credit date.
🎁 Welcome Benefits
- Infinity: 1,499 NeuCoins (worth ₹1,499) within 15 days of joining — effectively free for Year 1
- Plus: 499 NeuCoins (worth ₹499) within 15 days of joining
✈️ Travel & Other Benefits
| Benefit | Neu Plus (₹499) | Neu Infinity (₹1,499) |
|---|---|---|
| Domestic Lounge Access | 4 visits/year (1/quarter) — on ₹50K quarterly spend | 8 visits/year (2/quarter) — on ₹75K quarterly spend |
| International Lounge | ❌ None | ✅ Priority Pass + 4 international visits/year (1/quarter) |
| Forex Markup | 3.5% | 1.99% ✅ (low — great for international use) |
| Fuel Surcharge Waiver | 1% on ₹500–₹4,000 (max ₹250/cycle) | 1% on ₹500–₹4,000 (max ₹250/cycle) |
| Annual Fee Waiver | On ₹1,00,000 annual spend | On ₹3,00,000 annual spend |
| Network | RuPay & Visa | RuPay Select & Visa Signature |
📋 Fees & Charges
| Charge | Neu Plus | Neu Infinity |
|---|---|---|
| Joining Fee | ₹499 + GST | ₹1,499 + GST |
| Annual Renewal Fee | ₹499 + GST | ₹1,499 + GST |
| Interest Rate | 3.75% per month | |
| Cash Advance | 2.5% (min ₹500) | |
✅ Pros
- 👍Up to 10% value back — highest among all 4 cards
- 👍1.5% on UPI transactions (Infinity, RuPay) — best UPI reward rate
- 👍Infinity: Low 1.99% forex markup — usable internationally
- 👍Welcome NeuCoins offset joining fee entirely
- 👍Covers travel (Air India), grocery (BigBasket), luxury (Tanishq, Taj) — wide ecosystem
❌ Cons
- 👎NeuCoins redeemable ONLY on Tata Neu — no cash/statement credit
- 👎Domestic lounge requires quarterly spend milestone (₹50K–₹75K)
- 👎NeuCoins expire in 12 months
- 👎No value outside Tata ecosystem
- 👎Grocery/utility earning capped at 2,000 NeuCoins/month
Best For:
Frequent shoppers across Tata brands — BigBasket for groceries, Croma for electronics, Air India for travel, Titan/Tanishq for jewellery, Taj Hotels for stays. The Infinity variant is especially strong for those who also travel internationally.
(Single variant)
💰 Cashback Structure (Direct Statement Credit)
Cashback Type:
Cashback is credited directly to your card statement — not to a wallet or platform. Maximum quarterly capping: ₹4,000 per category. No cashback on fuel, EMIs, jewellery, insurance, utilities, education, government spends, or wallet loads.
🎁 Welcome Benefits & Cleartrip Offers
- ₹250 Flipkart gift card within 60 days of joining fee payment
- Cleartrip Instant Discounts:
- → 7% off on domestic flights (max ₹1,500) & international flights (max ₹4,000)
- → 20% off on domestic & international hotel bookings (max ₹5,000)
- → 10% off on bus bookings (max ₹150/transaction)
📋 Fees & Charges
| Charge | Flipkart SBI Card |
|---|---|
| Joining Fee | ₹499 + GST (₹250 Flipkart voucher on payment) |
| Annual Renewal Fee | ₹499 + GST |
| Annual Fee Waiver | On ₹3,50,000 annual spend |
| Interest Rate | 3.5% per month (42% p.a.) |
| Forex Markup | 3.5% (high — avoid for international) |
| Fuel Surcharge Waiver | 1% on ₹400–₹4,000 (max ₹250/month) |
| Lounge Access | ❌ None |
| Network | Visa & Mastercard |
Important Note (2025 Update):
Unlike its sister card Flipkart Axis Bank Card (which discontinued lounge access in June 2025), the Flipkart SBI Card also does not offer any airport lounge access. Keep this in mind if lounge access is important to you.
✅ Pros
- 👍7.5% on Myntra — best fashion cashback card
- 👍Cashback credited to statement — no ecosystem lock-in
- 👍4% on Zomato, Uber, PVR, Netmeds — broad lifestyle coverage
- 👍Cleartrip hotel discounts up to 20%
- 👍Lowest annual fee (₹499) for this cashback level
❌ Cons
- 👎No lounge access
- 👎Quarterly cashback cap of ₹4,000 limits high spenders
- 👎No UPI credit card functionality
- 👎High forex markup — not for international use
- 👎Fee waiver requires ₹3.5L — relatively high
Best For:
Regular Flipkart & Myntra shoppers, online food delivery (Zomato) users, and frequent cab users (Uber). Great as a secondary card alongside a primary UPI-focused card. Particularly strong for fashion shoppers on Myntra.
All Cards Compared — At a Glance (April 2026)
| Feature | Paytm SBI Card | Paytm SELECT | PhonePe PURPLE | PhonePe SELECT BLACK | Tata Neu Plus | Tata Neu Infinity | Flipkart SBI |
|---|---|---|---|---|---|---|---|
| Annual Fee | ₹499 | ₹1,499 | ₹499 | ₹1,499 | ₹499 | ₹1,499 | ₹499 |
| Fee Waiver | ❌ | ❌ | ₹1L spend | ₹3L spend | ₹1L spend | ₹3L spend | ₹3.5L spend |
| Welcome Benefit | Paytm First Membership | First Membership + ₹750 | ₹500 PhonePe voucher | ₹1,500 PhonePe gift card | 499 NeuCoins (₹499) | 1,499 NeuCoins (₹1,499) | ₹250 Flipkart voucher |
| Top Reward Rate | 3% Paytm Mall | 5% Paytm | 3% PhonePe | 10% PhonePe | 7% Tata Neu | 10% Tata Neu | 7.5% Myntra |
| Base Reward Rate | 1% all spends | 1% all spends | 1% all spends | 1% all spends (UPI too) | 1% (RuPay UPI) | 1.5% (RuPay UPI) | 1% all spends |
| Reward Redemption | Paytm Gift Voucher (1pt = ₹1) | Statement credit / gift vouchers (1pt = ₹1) | Tata Neu app only (1 NeuCoin = ₹1) | Direct statement credit (1pt = ₹1) | |||
| UPI Credit Card | ❌ | ❌ | ✅ RuPay | ✅ RuPay | ✅ RuPay | ✅ RuPay | ❌ |
| Domestic Lounge | ❌ | 4/year | 4/year | 4/year | 4/year (spend-based) | 8/year (spend-based) | ❌ |
| International Lounge | ❌ | Priority Pass | ❌ | Priority Pass | ❌ | Priority Pass + 4 visits | ❌ |
| Forex Markup | 3.5% | 3.5% | 3.5% | 1.99% | 3.5% | ||
| Fuel Surcharge | 1% waiver (all cards, varying caps) | ||||||
| Network | RuPay | RuPay & Visa | RuPay & Visa | Visa & Mastercard | |||
| Best Suited For | Entry-level Paytm users | Paytm loyalists | Entry PhonePe users | Heavy PhonePe users | Tata brand beginners | Tata ecosystem regulars + travellers | Flipkart/Myntra shoppers |
Which Card Is Best for You? Our Honest Verdict
🏆 Our Category Winners — April 2026
Our overall top pick for most Indians: PhonePe SBI Card SELECT BLACK — widest reward coverage, easiest fee waiver, and welcome benefit that fully offsets the joining fee.
Common Eligibility Criteria for All SBI Co-Branded Cards
Minimum 21 years, maximum 70 years for most cards
Both salaried and self-employed individuals can apply
Good credit score required. Minimum CIBIL score typically 700+ for best approval odds
Minimum income varies by card. Entry variants generally have lower requirements (₹15K–₹25K/month)
PAN Card, Aadhaar, income proof (salary slip/ITR), address proof, passport-size photo
Online via SBICard.com, via respective brand app (Paytm app, PhonePe app, Tata Neu app, Flipkart app), or offline at select SBI branches
SBI Card Customer Care:
1860-180-1290 (toll-free) | 39-02-02-02 (prefix your STD code) | customercare@sbicard.com
Frequently Asked Questions
For most users, the PhonePe SBI Card SELECT BLACK offers the best overall value — 10% on PhonePe bills & utilities (categories other cards ignore), 5% on all online spends without merchant restriction, an easy ₹3L fee waiver, and a welcome gift that covers the joining fee. For Tata ecosystem loyalists, the Tata Neu Infinity SBI Card is the better pick. For pure Flipkart/Myntra shoppers, the Flipkart SBI Card wins on cashback.
Yes, you can hold multiple credit cards. Banks evaluate each application independently based on your credit score, income, and existing credit utilisation. A common and smart strategy is holding the PhonePe SELECT BLACK for bills/utilities + Flipkart SBI Card for shopping. However, multiple credit cards require disciplined repayment — always pay the full outstanding balance before the due date to avoid 3.5–3.75% monthly interest.
Both are worth ₹1 each (1 NeuCoin = ₹1, 1 Reward Point = ₹1). The key difference is redemption flexibility. NeuCoins can ONLY be redeemed on Tata Neu app/website — not converted to cash or statement credit. Reward Points (PhonePe, Paytm SBI) can be redeemed as statement credit (reduces your bill directly) or exchanged for gift vouchers via SBI Card Rewards portal. Flipkart SBI cashback is direct statement credit — the most flexible of all.
The PhonePe SBI Card (both variants), Tata Neu SBI Card (both variants) are available on RuPay — meaning they can be linked as UPI credit cards within your UPI app and used for Scan & Pay transactions at merchants. The Tata Neu Infinity SBI Card (RuPay variant) offers the best UPI reward rate at 1.5% NeuCoins per UPI transaction (capped at 500 NeuCoins/month). Paytm SBI Card and Flipkart SBI Card do NOT offer UPI credit card functionality.
The Tata Neu Infinity SBI Card is the clear winner for international travel — it’s the only one with a low 1.99% forex markup fee (others charge 3.5%), plus Priority Pass membership with 4 complimentary international lounge visits annually. All other cards (Paytm, PhonePe, Flipkart SBI) charge 3.5% forex markup, making them expensive for international use. If you travel internationally frequently, the Infinity card’s 1.99% forex rate alone can save you significant money.
For the PhonePe SELECT BLACK: Yes — the ₹1,500 welcome gift card effectively makes Year 1 free. If you spend ₹3 lakhs/year (₹25K/month), the fee is waived in Year 2 onward too. For the Tata Neu Infinity: Yes — 1,499 NeuCoins welcome benefit offsets the joining fee, and if you regularly shop at Tata brands, the 5–10% NeuCoin returns far exceed the annual fee. For the Paytm SELECT: Less clear — there’s no fee waiver option, so you pay ₹1,499 every year regardless of spend.
Across all cards, no rewards are earned on: fuel transactions (only surcharge waiver applies), wallet loads/top-ups, rent payments, government services/taxes, education payments, EMI transactions, cash advances, and payment of card outstanding balances or fees. Additionally, Tata Neu cards don’t earn NeuCoins on gift card purchases. Always check the specific card’s Terms & Conditions on SBICard.com before applying.
For online applications through the brand app (PhonePe, Paytm, Tata Neu, Flipkart) or SBICard.com, decisions are often instant or within 24–48 hours if your credit profile is strong. Once approved, physical card delivery typically takes 7–10 working days. You can track your application status at SBICard.com → “Track My Application.”
📌 Important Disclaimer
This blog post is for informational and educational purposes only. All credit card features, fees, cashback rates, reward structures, and eligibility criteria mentioned in this article are based on publicly available information sourced from SBICard.com, PhonePe.com, Paytm.com, TataNeu.com, and verified third-party financial research platforms (Paisabazaar, CardInsider, BankBazaar) as of April 2026.
Credit card terms and conditions, interest rates, reward structures, and benefits are subject to change at the discretion of SBI Card and the respective co-brand partners without prior notice. Before applying for any credit card, always visit the official SBI Card website (sbicard.com) to verify the most current terms, fees, and eligibility criteria.
We do not receive any commission, referral fees, or payments from SBI Card, Paytm, PhonePe, Tata Digital, Flipkart, or any other brand mentioned in this article. Our recommendations are based solely on publicly available product information and our independent assessment of value for Indian consumers.
Credit cards involve financial risk. Always spend within your means, pay the full outstanding amount before the due date, and never use credit beyond what you can comfortably repay. Carrying a credit card balance at 3.5–3.75% monthly interest (42–45% annually) is extremely expensive and should be avoided.
SBI Card Customer Care: 1860-180-1290 | NPCI Helpline: 1800-120-1740 | RBI Helpline: 14448
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