PhonePe SBI SELECT BLACK vs Paytm AU Credit Card: Which Offers Better Rewards on ₹10,000 Monthly Spends?
Digital payments have become a part of everyday spending in India, with platforms such as PhonePe and Paytm widely used for UPI transactions, bill payments, shopping and travel bookings. To attract these users, banks offer co-branded credit cards that provide reward points on app-based transactions, along with additional benefits such as airport lounge access and fuel surcharge waivers. The PhonePe SBI SELECT BLACK and Paytm AU Credit Cards are two such options. While both offer rewards on UPI and digital spends, their reward rates, annual fees, redemption options and travel benefits differ.
PhonePe SBI Card Select Black
Joining Fee: ₹1,499 + GST
Annual Fee: ₹1,499 + GST
Fee waiver: Annual fee waived on annual spends above ₹300,000/year
Welcome benefit: PhonePe gift voucher worth ₹1,500 after the first credit card bill payment
Reward points
10 reward points per ₹100 on eligible PhonePe app spends, including specified recharges, utility bills, bill payments, insurance and travel.
5 reward points per ₹100 on eligible online spends.
1 reward point per ₹100 on other eligible spends, including Scan & Pay and Tap & Pay.
One reward point is worth ₹1 and can be redeemed as statement credit or gift vouchers.
Effective July 1, 2026, monthly caps apply: 1,500 points on eligible PhonePe spends other than insurance, 500 points on eligible PhonePe insurance spends and 1,000 points on eligible online spends. Additional transaction exclusions also apply.
Airport lounge benefits
4 complimentary domestic airport lounge visits annually, limited to one per quarter.
Complimentary Priority Pass membership for the first two years; international lounge access is subject to applicable programme terms.
Other benefits
₹5,000 Yatra e-voucher on annual spends of ₹5 lakh, subject to terms.
1% fuel surcharge waiver on eligible transactions between ₹500 and ₹4,000, capped at ₹250 per statement cycle.
Eligible purchases of ₹2,500 or more can be converted into EMIs, subject to terms
Paytm AU Credit Card
Joining Fee/Annual Fee: Nil
Fee Waiver: Not applicable, as the card is lifetime free.
Reward Points
2 reward points per ₹100 on Paytm UPI transactions between ₹100 and ₹2,000.
1 reward point per ₹100 on Paytm UPI transactions above ₹2,000.
1 reward point per ₹400 on eligible UPI transactions through other UPI apps.
5 reward points per ₹100 on eligible Paytm Travel and Paytm Gold spends. 1 reward point per ₹100 on eligible Paytm utility bill payments.
1 reward point per ₹100 on other eligible online and offline spends.
Maximum 3,000 reward points can be earned across all eligible categories per statement cycle.
Airport Lounge Benefits
Up to 12 complimentary domestic airport lounge accesses through eligible return flight bookings on Paytm Travel.
Minimum return flight booking value of ₹5,000 to generate a lounge QR code.
Maximum four lounge accesses can be redeemed per booking.
Lounge access is subject to QR code generation and applicable terms.
Fuel Surcharge Waiver
1% fuel surcharge waiver on eligible transactions between ₹400 and ₹4,000.
Maximum waiver of ₹100 per month.
Reward Redemption
1 reward point = ₹1 when redeemed as Paytm Gold through the Paytm app.
1 reward point = ₹0.50 when redeemed through AU Rewardz.
Important Reward Conditions
Minimum transaction value of ₹100 for eligible online, offline, contactless and Paytm UPI transactions.
Minimum transaction value of ₹400 for UPI transactions through other UPI apps.
Refunds and reversed transactions result in corresponding reward point reversals.
UPI, online and offline rewards are subject to eligible merchant categories and exclusions.
Also read: BOBCARD Lounge Access Slashed From 83 to 33: 4 Alternative Credit Cards With Best Airport Lounge Benefits
Reward Calculation on ₹10,000 Monthly Spending
Parameter
PhonePe SBI SELECT BLACK
Paytm AU
Monthly UPI Spend
₹4,000 (Earns 40 RPs)
₹4,000 (Earns 80 RPs)
Monthly Online Spend
₹3,000 (Earns 150 RPs)
₹3,000 (Earns 30 RPs)
Monthly Travel Spend
₹3,000 (Earns 300 RPs)
₹3,000 (Earns 150 RPs)
Total Monthly Spend
₹10,000
₹10,000
Annual Spending
₹1,20,000
₹1,20,000
Monthly Reward Points
490
260
Value per Reward Point
₹1
₹1 (Paytm Gold)
Annual Reward Value
₹5,880
₹3,120
Annual Fee (excluding GST)
₹1,499
Nil
Net Annual Reward Value
₹4,381
₹3,120
Note: The calculation assumes all transactions qualify for the respective reward rates and fall within the applicable monthly reward caps. Paytm AU UPI spending is assumed to comprise eligible transactions between ₹100 and ₹2,000. Paytm reward points are valued at ₹1 each when redeemed as Paytm Gold. The PhonePe SBI SELECT BLACK annual fee waiver is not considered, as the assumed annual spending of ₹1.2 lakh is below the ₹3 lakh threshold. Net annual reward value is calculated before GST on the annual fee.
Which Credit Card Offers Better Rewards?
The PhonePe SBI SELECT BLACK Credit Card is a strong choice for users who frequently spend on eligible PhonePe app categories, online shopping and travel bookings. With higher reward rates on eligible PhonePe transactions, domestic lounge access and Priority Pass membership, it offers additional value for frequent digital spenders and travellers. The Paytm AU Credit Card may suit users who prefer a lifetime-free card with UPI rewards and booking-linked domestic lounge access. However, PhonePe SBI SELECT BLACK may offer better overall rewards, while Paytm AU is more suitable for users prioritising zero annual fees and everyday UPI payments.