The PhonePe SBI Card PURPLE is the entry-level co-branded credit card from the partnership between PhonePe and SBI Card. It’s designed for everyday users who frequently transact on PhonePe and other online platforms, offering a good reward structure at an affordable fee. Like its premium counterpart, it’s available on both RuPay and VISA networks, with the RuPay variant enabling UPI payments.
Here’s a detailed breakdown of its features, benefits, fees, and application process:
Key Features and Benefits:
- Reward Points:
- 3 Reward Points per ₹100: On eligible PhonePe and Pincode spends (e.g., recharges, utility bill payments, insurance, travel bookings, etc.).
- 2 Reward Points per ₹100: On eligible online spends on popular platforms like Amazon, Flipkart, Myntra, Ajio, Uber, Swiggy, Zomato, Nykaa, BookMyShow, MakeMyTrip, Blinkit, Dunzo, Zepto, Rapido, etc.
- 1 Reward Point per ₹100: On all other eligible spends, including “Scan & Pay” transactions via UPI (if RuPay variant), Tap & Pay, and other offline purchases.
- Reward Point Redemption: 1 Reward Point = ₹1 when redeemed as cashback against the statement balance or for a wide array of e-gift vouchers from the SBI Card redemption catalogue. This is an excellent redemption value for a card at this fee level.
- No Reward Points: On fuel transactions, wallet uploads, rent payments, education services, government spends, EMI transactions, and cash withdrawals. Utility and Insurance spends outside PhonePe will only accrue base Reward Points (1 RP per ₹100) with a separate, lower cap (e.g., max 250 RP per month).
- Welcome Benefit:
- Get a ₹500 PhonePe Gift Card upon payment of the joining fee. This effectively offsets the joining fee, providing a 100% value-back on the first year’s fee. The gift card is typically sent within 45 days of fee realization.
- Milestone Benefit:
- Receive a Yatra Voucher worth ₹3,000 on achieving annual spends of ₹3,00,000 or more in a membership year.
- Fuel Surcharge Waiver:
- 1% fuel surcharge waiver on transactions between ₹500 and ₹3,000, with a maximum waiver of ₹100 per statement cycle.
- UPI Integration (for RuPay variant):
- If you choose the RuPay variant, you can link your card to any UPI app (PhonePe, Google Pay, Paytm, etc.) for convenient “Scan & Pay” transactions.
- Other Features:
- Worldwide Acceptance: Accepted globally at Visa/RuPay accepting merchants.
- Contactless Payments: For quick and secure transactions.
- Flexipay: Convert large transactions (₹2,500 or more) into easy monthly installments.
- Balance Transfer on EMI: Transfer outstanding balances from other bank credit cards to your PhonePe SBI Card PURPLE at a lower interest rate.
- Add-on Cards: Provide add-on cards for up to 3 family members (parents, spouse, children, or siblings above 18 years).
- Easy Bill Pay: Conveniently pay utility bills.
Fees and Waivers:
- Joining Fee: ₹499 + GST (fully offset by the welcome gift).
- Annual Fee: ₹499 + GST
- Annual Fee Waiver: Waived if you spend ₹1,00,000 or more in the previous membership year.
Who is it for?
The PhonePe SBI Card PURPLE is a good choice for:
- Individuals who are new to credit cards and want an affordable option.
- Regular users of the PhonePe app for recharges, bill payments, and Pincode services.
- Those who frequently shop online on popular e-commerce and food delivery platforms.
- Users who appreciate earning valuable reward points that can be converted to cashback or vouchers at a 1:1 ratio.
- People looking for a credit card with low annual fees that can be easily waived through moderate spending.
Important Considerations:
- No Lounge Access: Unlike the SELECT BLACK variant, the PURPLE card does not offer complimentary airport lounge access.
- Reward Caps: While the reward rates are good for its tier, keep in mind there are monthly caps on the reward points earned in each category.
- Excluded Spends: Be aware of categories where reward points are not earned (fuel, wallet loads, rent, etc.).
- Reward Point Validity: Reward points typically expire after a year, so ensure timely redemption.
Overall, the PhonePe SBI Card PURPLE is a strong entry-level credit card, especially given its low fees and the fact that its joining fee is fully offset by the welcome benefit. It offers a solid reward structure for everyday digital spending, making it a valuable tool for budget-conscious PhonePe users.
