Comparison Summary
| Feature | SBI Cashback Credit Card | Hdfc Millenia Card |
|---|---|---|
| Card Image |
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| Card Network | Visa | Mastercard, Visa |
| USP | The SBI Cashback Credit Card offers attractive 5% cashback on all online spends and 1% on offline transactions, making it the perfect card for frequent online shoppers and everyday spenders seeking maximum savings with easy fee waiver options. | The HDFC Millennia Card offers premium cashback rewards on top online merchants, fuel surcharge waivers, and generous domestic lounge access, making it ideal for millennials and savvy online shoppers seeking maximum lifestyle and travel benefits. |
| Annual Fee | 999 | 1000 - + Applicable Taxes |
| Joining Fee | 999 | 1000 - + Applicable Taxes |
| Welcome Benefits | N/A | 1000 bonus CashPoints credited on payment of joining fee, redeemable against statement credit or rewards |
| Lounge Access | N/A | Domestic: 2 per quarter | International: 2 per quarter On spends of ₹1,00,000+ in the last 3 months |
| Reward Rate | 5% cashback on all online spends without any merchant restrictions; 1% cashback on all offline spends; fuel surcharge waiver of 1% on fuel transactions between ₹500 and ₹3,000 (max ₹100 per billing cycle); no cashback on fuel payments, merchant EMIs, wallet loads, etc. | Get 5% cashback on Amazon, Flipkart, Swiggy, Zomato, Uber, and select partners (capped at ₹1,000/month) and 1% cashback on other spends (also capped at ₹1,000/month) |
| Interest Rate | 3.75% per month (45% per annum) on unpaid balances | Approximately 3.6% per month (43.2% per annum) on revolving credit and cash advances |
| Best For | Online Shopping | Online Shopping |
| Apply Now | Apply Now | Apply Now |
Fees & Charges Comparison: SBI Cashback vs HDFC Millennia Credit Card
| Fee Type | SBI Cashback Credit Card | HDFC Millennia Credit Card |
| Joining Fee | Rs. 999 | Rs. 1,000 + applicable taxes |
| Annual Fee | Rs. 999 (waived on annual spends ≥ Rs. 2,00,000) | Rs. 1,000 + applicable taxes (waived on spends ≥ Rs. 1,00,000) |
| Renewal Fee | Rs. 999 (waived on annual spends ≥ Rs. 2,00,000) | Rs. 1,000 + applicable taxes (waived on spends ≥ Rs. 1,00,000) |
| Add-on Card Fee | Nil | Lifetime free |
| Finance Charges | Approx. 3.75% per month (45% p.a.) | Approx. 3.75% per month (45% p.a.) |
| Cash Withdrawal Fee | 2.5% of amount or Rs. 500 minimum | 2.5% of amount or Rs. 500 minimum |
| Foreign Currency Fee | 3.5% of transaction value | 3.5% of transaction value |
| Late Payment Charges | Up to Rs. 1,200 depending on outstanding amount | Up to Rs. 1,300 depending on outstanding amount |
| Fuel Surcharge Waiver | NA | 1% waiver on transactions between Rs. 400-5,000, max Rs. 250 per statement cycle |
| Rewards Redemption Fee | NA | Rs. 99 per redemption request |
The SBI Cashback Credit Card charges a joining and renewal fee of Rs. 999 each, both of which are waived if the cardholder spends Rs. 2 lakh or more in a year. It has no add-on card fee. The HDFC Millennia Credit Card has a joining and an annual renewal fee of Rs. 1,000 plus taxes, waivable if the user spends Rs. 1 lakh or more annually. The Millennia card provides lifetime free add-on cards.
Both cards charge roughly 3.75% monthly interest on revolving credit and a 2.5% fee on cash withdrawals, with a minimum of Rs. 500. Foreign currency transaction fees stand at 3.5% for both cards. Late payment penalties can go up to Rs. 1,200-1,300 depending on the outstanding dues. HDFC Millennia additionally offers a fuel surcharge waiver of 1% for transactions between Rs. 400 and Rs. 5,000 capped at Rs. 250 per statement cycle. A small Rs. 99 fee applies on rewards redemption for the Millennia card, which SBI Cashback does not mention
Welcome Benefits, Eligibility & Application Process
| Aspect | SBI Cashback Credit Card | HDFC Millennia Credit Card |
| Welcome Gift | None | 1000 CashPoints (worth Rs. 1000) on joining fee payment |
| Milestone Benefit | None | Rs. 1000 gift voucher or lounge access on quarterly spends above Rs. 1 lakh |
| Eligibility | Indian resident, Age 18-70, Minimum income as per bank norms | Indian resident, Age 21-60, Minimum income ₹25,000/month |
| Application Process | Online or branch with KYC documents | Online application or branch with income & ID proof |
The SBI Cashback Credit Card does not offer any welcome benefit. It is designed for Indian residents aged 18-70 years, with income criteria as per the bank’s norms. The card has a straightforward application process that can be completed online or at branch with KYC documents.
In contrast, the HDFC Millennia Credit Card offers a welcome gift of 1000 CashPoints (approximately Rs. 1000) which is credited upon payment of the joining fee. Additionally, it provides a quarterly milestone benefit of Rs. 1000 in the form of gift vouchers or airport lounge access if the user spends over Rs. 1 lakh in that quarter. Eligibility requires Indian residents aged 21 to 60 years with minimum monthly income of Rs. 25,000. Applications can also be made online or via branch with income proof.
Cashback & Rewards Structure Comparison: SBI Cashback vs HDFC Millennia Credit Card
| Spend Type | SBI Cashback Credit Card | HDFC Millennia Credit Card |
| Base Cashback | 5% on all online spends (except few categories) | 5% cashback on select online merchants |
| 1% on all offline spends | 0.5% on other spends | |
| Cashback on Partner Merchants | 5% on Amazon Pay Gift Vouchers, Tata Neu App | 5% on Amazon, Flipkart, Swiggy, and more |
| Cashback/Reward Caps | Rs. 5,000 per statement cycle (online + offline combined) | Rs. 1,000 per month on partner merchants |
| Cashback Accrual Method | Cashback credited automatically to statement within 2 days after billing cycle | Cashback earned in CashPoints, redeemable against statement balance |
| Exclusions | No cashback on education, fuel, insurance, wallets, rent | Limited to partner categories for 5%, others at 0.5% |
| Other Rewards | None | Quarterly milestone benefits on Rs. 1 lakh+ spend |
The SBI Cashback Credit Card offers a straightforward cashback structure of 5% on online purchases with exclusions such as education, fuel, and wallet reloads. Offline transactions earn 1% cashback. Cashbacks from online and offline spends are combined with a monthly cap of Rs. 5,000. This cashback is automatically credited to the card statement within two days of the billing cycle ending.
The HDFC Millennia Credit Card rewards 5% cashback on spends at select online merchants including Amazon, Flipkart, and Swiggy, while other spends earn 0.5%. Cashback is earned as CashPoints that can be redeemed against the statement balance. A cashback cap of Rs. 1,000 per month applies to partner merchant spends. Additionally, the Millennia card offers quarterly milestone benefits such as gift vouchers or lounge access when spending Rs. 1 lakh or more.
Lounge Access Benefits
The SBI Cashback Credit Card does not provide complimentary airport lounge access as part of its benefits.
The HDFC Millennia Credit Card previously offered complimentary domestic airport lounge access; however, effective December 1, 2023, the lounge access is now integrated with the Quarterly Spends Milestone program. Under this program, cardholders who spend Rs. 1 lakh or more in a calendar quarter become eligible for a milestone benefit, which can either be a Rs. 1,000 gift voucher or a DreamFolks airport lounge access voucher. If the cardholder opts for the lounge access, they receive a digital DreamFolks QR code valid for 90 days, granting access to select domestic airport lounges such as Encalm Lounge in Delhi and Hyderabad, Travel Club Lounges in Chennai, Mumbai, Kolkata, and others.
Previously, Millennia cardholders received 8 complimentary domestic lounge access visits annually (2 per quarter) with a nominal charge of Rs. 2 per visit, but now complimentary visits without spend criteria have been discontinued. Airport lounge access is subject to choosing the lounge access voucher within the milestone benefits and is not automatically available.
Overall, only HDFC Millennia offers lounge access, contingent on the quarterly spend of Rs. 1 lakh and selection of the lounge benefit as part of the milestone reward.
Cashback/Rewards Redemption Process
| Aspect | SBI Cashback Credit Card | HDFC Millennia Credit Card |
| Cashback Credit Method | Automatically credited to credit card statement within 2 days | Earned as CashPoints, redeemable against statement balance |
| Redemption Process | No action needed; cashback reflected in monthly statement | Redeem CashPoints via HDFC website or app against statement |
| Cashback Expiry | Does not expire | CashPoints valid for 12 months |
| Redemption Restrictions | Cashback reversal on purchase returns or cancellations | Cashback reversal on refunds, redemptions require minimum points |
| Reward Redemption Fee | No redemption fee | Rs. 99 per redemption request |
| Redemption Options | Statement credit only | Statement credit |
The SBI Cashback Credit Card offers a hassle-free cashback redemption process where cashback amounts are automatically credited to the cardholder’s statement within two working days post statement generation. There is no need for manual redemption, and cashback does not expire. However, cashback amounts are reversed in case of purchase returns or cancellations.
The HDFC Millennia Credit Card accrues cashback in the form of CashPoints, which can be redeemed against the statement balance through HDFC’s online portal or mobile app. CashPoints have a validity of 12 months and require a minimum redemption amount. Each redemption request attracts a nominal fee of Rs. 99. Similar to SBI, cashback is reversed for any refunded or canceled transactions.
Both cards offer straightforward redemption options focused on statement credits, easing the process for cardholders to utilize their rewards efficiently
Pros & Cons Comparison: SBI Cashback vs HDFC Millennia Credit Card
| Feature | SBI Cashback Credit Card | HDFC Millennia Credit Card |
| Pros | – 5% cashback on a wide range of online spends | – 5% cashback on select top merchants |
| – Cashback auto-credited quickly to statement | – Quarterly milestone benefits including lounge access | |
| – Rs. 5,000 monthly cashback cap is generous | – Lifetime free add-on cards | |
| – Easy redemption with no extra fees | – Fuel surcharge waiver up to Rs. 250 | |
| – Suitable for high online spenders | – Redeemable CashPoints for flexibility | |
| Cons | – No welcome benefits | – Joining and renewal fees apply (₹1,000 each) |
| – Annual fee waiver requires Rs. 2 lakh spends | – Cashback capped at Rs. 1,000/month on partner spends | |
| – No complimentary airport lounge access | – CashPoints require manual redemption and have expiry | |
| – Many categories excluded from cashback | – Cashback redemption fee of Rs. 99 per request |
Frequently Asked Questions (FAQs)
While the HDFC Millennia Credit Card typically has a joining and annual fee of Rs. 1,000 each, cardholders can sometimes convert it to lifetime free during special offers or by meeting certain spend criteria, though this is subject to bank policies and approval.
Cashback on the SBI Cashback Credit Card is automatically credited to the card statement within two days after the billing cycle closes. There is no manual redemption required.
Yes, HDFC Millennia cardholders can access airport lounges as part of their quarterly milestone benefits if they spend Rs. 1 lakh or more in that calendar quarter. The lounge access can be chosen as a benefit and provided as a digital voucher valid at partner lounges.
For SBI Cashback, maximize online spends to leverage the 5% cashback, avoiding excluded categories like fuel and wallets. For HDFC Millennia, prioritize spending on the select 10 partner merchants for 5% cashback and aim for quarterly spends of Rs. 1 lakh to unlock milestone rewards including lounge access and gift vouchers.
SBI Cashback has no redemption fees since cashback is auto-applied. The HDFC Millennia Card charges Rs. 99 per redemption request for CashPoints, which must be manually redeemed via their online portal.
Conclusion and Recommendations
Both the SBI Cashback Credit Card and the HDFC Millennia Credit Card are strong contenders for cashback-focused users, but they cater to slightly different needs and spending patterns. The SBI Cashback Credit Card is ideal for those who want straightforward, hassle-free rewards with 5% cashback on all online spends and automatic statement credits. It has a high cashback cap and suits heavy online shoppers who prefer simplicity.
The HDFC Millennia Credit Card, on the other hand, is better suited to users who shop frequently on select partner platforms like Amazon, Flipkart, and Swiggy, and who value additional lifestyle perks like quarterly milestone gift vouchers and lounge access. While it requires manual redemption and has a lower cashback cap on partner spends, its rewards versatility and bonus benefits appeal to lifestyle-savvy shoppers.
Before applying, it is highly recommended to check your credit score to ensure eligibility and maximize chances of instant approval. Choose SBI Cashback for maximum online cashback with minimal fuss or HDFC Millennia if you can leverage partner spends and milestone rewards for added value. Apply based on your spending habits and lifestyle preferences to get the best returns from your credit card.
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