The way Paytm SBI Cards give cashbacks is similar to other co-branded card of Amazon Pay ICICI Bank. HDFC Bank Millennia Credit Card offers the annual fee waiver for spends of at least Rs 30,000 and above within the first 90 days of issuing the card, or after at least Rs 1 lakh is spent through the year. “The annual fee waiver after Rs two lakh spending is too bigger amount for a card in this segment,” says Jain. Also, if you wish to get the annual fees waived off, you’ve got to spend more using Paytm SBI Card. The annual fees charged on both variants of Paytm SBI Card are higher with fewer benefits. These cards will make sense for you only if you are using the Paytm app exclusively for regular transactions. So, the avenues where our card can be used are vast,” says a spokesperson from Paytm.
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as well as the card can be used offline in merchant stores and earn flat 2 per cent cashback. Starting from paying education fees, monthly utility bills, booking travel tickets, paying rent, insurance premium, etc. “But, co-branded cards of Flipkart and Amazon will continue to see a better demand as people tend to spend more on these popular e-commerce websites for shopping instead of Paytm,” says a spokesperson from “While people might be shopping more on these e-commerce platforms, there are users spending on the Paytm platform as well. For other spends on Paytm app using these cards, you will receive a 2 per cent cashback while 1 per cent cashback is offered on spends elsewhere.
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You get a 5 percent and 3 percent cashback on Paytm SBI Card Select and Paytm SBI Card, respectively, upon booking movie and travel tickets on Paytm app as well as on shopping from Paytm Mall. When we compare Paytm SBI Card Select and Paytm SBI Card with other co-branded cards such as Flipkart Axis Bank card and Amazon Pay ICICI Bank card the cashback offer seems to be of a similar range. “When you compare it with HDFC Bank’s Millennia credit card, you will know that 5 percent cashback is extended to shopping on popular e-commerce websites like Amazon and Flipkart,” says Tushar Jain, a personal finance blogger at The HDFC Bank’s Millennia card doesn’t bind customers to one platform for taking the maximum cashback benefit. There is no major benefit for transacting using these credit cards outside of the Paytm app or mall. And they also offer a cyber fraud insurance cover Rs 2 lakh on Paytm SBI Card Select and Rs 1 lakh cover on Paytm SBI Card.Īlso read: Overspent on your credit card this Diwali? Here’s how you can reduce your debt You can switch off the contactless payments feature on your cards.
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