Which card has a lower forex fee: HDFC Millennia Credit Card or PhonePe SBI SELECT BLACK Credit Card?

Both cards have the same forex markup (3.5%).

Which card has a lower annual fee: HDFC Millennia Credit Card or PhonePe SBI SELECT BLACK Credit Card?

HDFC Millennia Credit Card has a lower annual fee (₹1,000 annual fee from second year vs ₹1,499 annual fee).

Which card offers better lounge access?

HDFC Millennia Credit Card: 1 per quarter domestic lounge. PhonePe SBI SELECT BLACK Credit Card: 1 per quarter domestic + 4 per year international.

Which card has a higher base reward rate?

Both cards have similar conservative base reward value (~1%).

Pairwise comparison Compare 3+ cards →

HDFC Bank Millennia vs SBI Card PhonePe SBI SELECT BLACK Credit Cards – Fees, Lounge, Forex

Side-by-side comparison of the HDFC Bank Millennia and the SBI Card PhonePe SBI SELECT BLACK. Verify fees, lounge access, forex markup, and base rewards before you apply.

Millennia

PhonePe SBI SELECT BLACK

The short answer

Verdict

Pick PhonePe SBI SELECT BLACK for upi.

Head-to-head

Three core metrics

Annual fee

Millennia ₹1,000 Waivable at ₹1,00,000 spend

PhonePe SBI SELECT BLACK ₹1,499 Waivable at ₹3,00,000 spend

Millennia saves ₹499/yr
Forex markup

Millennia 3.5%

PhonePe SBI SELECT BLACK 3.5%
Domestic lounge

Millennia 4/year (1 per quarter) Conditional · Domestic: 1/quarter · requires ₹1,00,000 spend in the previous calendar quarter (unlocks the following quarter)

PhonePe SBI SELECT BLACK 4/year (1 per quarter)

Reward earning explained

Per card

Millennia

1% · 5% on eligible amazon, bookMyShow, cult.fit, flipkart, myntra, sonyLIV, swiggy, tata CLiQ, uber, and zomato

Strong data

PhonePe SBI SELECT BLACK

1 pt / ₹100

Strong data

Pick based on what matters

4 dimensions

Start with the constraint you care about most: annual fee (HDFC Bank Millennia: ₹1,000 vs SBI Card PhonePe SBI SELECT BLACK: ₹1,499), forex markup (3.5% vs 3.5%), or lounge access (4/year (1 per quarter) vs 4/year (1 per quarter)).

Forex markup Tie

Both cards are similar for forex

Forex markup is 3.5%.
Lounge access Tie

Both cards are similar for lounge access

Domestic lounge access is 1 per quarter.
Rewards Tie

Both cards are similar for rewards

HDFC Bank Millennia conservative base value ~1% vs SBI Card PhonePe SBI SELECT BLACK's ~1%. SBI Card PhonePe SBI SELECT BLACK conservative base value ~1% vs HDFC Bank Millennia's ~1%.
upi SBI Card PhonePe SBI SELECT BLACK wins

SBI Card PhonePe SBI SELECT BLACK is better for UPI usage

SBI Card PhonePe SBI SELECT BLACK is stronger here. Supports UPI via RuPay network.

All fields

Standard view

Example usage at this monthly spend

At ₹50k/month spend:

Millennia: ~₹500/month at base rate
PhonePe SBI SELECT BLACK: ~₹500/month at base rate

Illustrative only, using current base rates before caps.

Field	Millennia HDFC Bank	PhonePe SBI SELECT BLACK SBI Card
Lounge Access
Domestic lounge visits spend-gated on some cards — see caveats	4/year (1 per quarter)	4/year (1 per quarter)
International lounge visits Not included vs 4 per year	No international lounge access	4 per year
Forex / International Use
Forex markup	3.5%	3.5%
Fees
Recurring annual fee ₹1,000 vs ₹1,499	₹1,000	₹1,499
First-year cost Only available for Millennia	₹1,000	Not specified
Annual-fee waiver ₹1,00,000 vs ₹3,00,000	₹1,00,000	₹3,00,000
Monthly interest rate	3.75% / month	3.75% / month
Late-payment charge Only available for Millennia	₹100–₹1,300 depending on outstanding balance	Not specified
Fuel benefit 1% surcharge waiver · ₹400–₹5,000 transactions · ₹250/month waiver cap · ₹1,00,000/year waiver cap · Fuel rewards excluded vs 1% surcharge waiver · ₹500–₹4,000 transactions · ₹250/month waiver cap · Fuel rewards excluded	1% surcharge waiver · ₹400–₹5,000 transactions · ₹250/month waiver cap · ₹1,00,000/year waiver cap · Fuel rewards excluded	1% surcharge waiver · ₹500–₹4,000 transactions · ₹250/month waiver cap · Fuel rewards excluded
Rewards
Base earn Some reward lanes are unsupported — base rate only for comparison. 1% vs 1 pt / ₹100	1%	1 pt / ₹100
Conservative base value	~1%	~1%
Earn ceiling ₹1,000 per calendar month vs 1,500 points per month; at 10 pts / ₹100, this lane reaches the cap at ₹15,000 of eligible spend	₹1,000 per calendar month	1,500 points per month; at 10 pts / ₹100, this lane reaches the cap at ₹15,000 of eligible spend
Point value (headline channel) Issuer headline redemption rate — see each card page for the full channel grid. Only available for Millennia	₹1	Not specified

Notes

HDFC Millennia Credit Card: Condition: ₹1,00,000 spend in the previous calendar quarter (unlocks the following quarter)
Card benefits change frequently. Always verify current terms on the issuer's official website or app before applying.

HDFC Bank Millennia

Verify with issuer

SBI Card PhonePe SBI SELECT BLACK

Verify with issuer