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Side-by-Side Comparison|Updated March 2026

CASHBACK SBI Card vs HDFC Bank Millennia Credit Card

Detailed comparison of fees, rewards, benefits, and value to help you choose the right credit card for your spending pattern.

SBI Card

CASHBACK SBI Card

8.5/10
Annual Fee₹999
Base Rewards1%
NetworkVisa
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HDFC Bank

HDFC Bank Millennia Credit Card

8.5/10
Annual Fee₹1,000
Base Rewards1%
NetworkVisa
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Feature-by-Feature Comparison

FeatureCASHBACK SBI CardHDFC Bank Millennia Credit Card
Annual Fee₹999₹1,000
Joining Fee₹999₹1,000
Fee Waiver Spend₹2,00,000₹1,00,000
Base Reward Rate1%1%
Reward CurrencyCashbackCashPoints
NetworkVisaVisa
Editor Rating8.5/108.5/10
Forex Markup3.5%3.5%

Accelerated Rewards

CASHBACK SBI Card

  • 0% on Online Spends

HDFC Bank Millennia Credit Card

  • 0% on Special Rate

Pros & Cons

CASHBACK SBI Card

Pros

  • Flat 5% cashback on almost all online spends without merchant restrictions.
  • 1% flat cashback on all offline spends and utility payments.
  • Cashback is auto-credited to the statement within 2 days of statement generation.
  • Simple annual fee waiver at ₹2 lakh annual spend.

Cons

  • Monthly cashback capped at ₹4,000 (₹2,000 online / ₹2,000 offline) from April 2026.
  • No complimentary domestic or international airport lounge access.
  • Extensive list of exclusions including rent, fuel, wallet loads, and government transactions.

HDFC Bank Millennia Credit Card

Pros

  • 5% cashback on 10 major online merchants including Amazon, Flipkart, and Swiggy
  • 1:1 redemption ratio for CashPoints against statement credit
  • Achievable annual fee waiver at ₹1 Lakh annual spend
  • 1,000 CashPoints welcome benefit effectively offsets the joining fee

Cons

  • Monthly cashback capped at ₹1,000 for the 5% category
  • Lounge access is now spend-based (₹1 Lakh per quarter)
  • Excludes rent, fuel, and government transactions from rewards

Our Verdict

Both CASHBACK SBI Card and HDFC Bank Millennia Credit Card are strong options. Your choice should depend on your spending pattern and which card's rewards align better with your lifestyle.

Choose CASHBACK SBI Card if

Highest flat cashback rate of 5% across all e-commerce platforms like Amazon, Flipkart, and Myntra.

Choose HDFC Bank Millennia Credit Card if

High 5% cashback on popular platforms like Amazon, Flipkart, and Zomato.

Frequently Asked Questions

Which is better: CASHBACK SBI Card or HDFC Bank Millennia Credit Card?
Both CASHBACK SBI Card and HDFC Bank Millennia Credit Card are strong options. Your choice should depend on your spending pattern and which card's rewards align better with your lifestyle.
What is the annual fee difference between CASHBACK SBI Card and HDFC Bank Millennia Credit Card?
CASHBACK SBI Card has an annual fee of ₹999, while HDFC Bank Millennia Credit Card has an annual fee of ₹1,000. CASHBACK SBI Card offers a fee waiver on ₹2,00,000 annual spend. HDFC Bank Millennia Credit Card offers a fee waiver on ₹1,00,000 annual spend.
Which card has better rewards: CASHBACK SBI Card or HDFC Bank Millennia Credit Card?
CASHBACK SBI Card offers a base reward rate of 1% with accelerated rewards on Online Spends. HDFC Bank Millennia Credit Card offers 1% base rewards with bonuses on Special Rate. The better choice depends on your primary spending categories.
Can I have both CASHBACK SBI Card and HDFC Bank Millennia Credit Card?
Yes, many users hold multiple credit cards to maximize rewards across different spending categories. CASHBACK SBI Card and HDFC Bank Millennia Credit Card can complement each other if they cover different reward categories.
Which card is better for beginners: CASHBACK SBI Card or HDFC Bank Millennia Credit Card?
For beginners, CASHBACK SBI Card may be more approachable with a lower annual fee of ₹999. However, evaluate based on your expected spending pattern rather than fee alone.

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