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Side-by-Side Comparison|Updated March 2026

CASHBACK SBI Card vs ICICI Bank Platinum Chip 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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ICICI Bank

ICICI Bank Platinum Chip Credit Card

6.5/10
Annual FeeFree
Base Rewards0.125%
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Feature-by-Feature Comparison

FeatureCASHBACK SBI CardICICI Bank Platinum Chip Credit Card
Annual Fee₹999Free
Joining Fee₹999Free
Fee Waiver Spend₹2,00,000N/A
Base Reward Rate1%0.125%
Reward CurrencyCashbackICICI Bank Reward Points
NetworkVisaVisa
Editor Rating8.5/106.5/10
Forex Markup3.5%3.5%

Accelerated Rewards

CASHBACK SBI Card

  • 0% on Online Spends

ICICI Bank Platinum Chip Credit Card

No accelerated rewards listed

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.

ICICI Bank Platinum Chip Credit Card

Pros

  • Lifetime free card with no joining or annual fees ever
  • Earn 2 reward points for every ₹100 spent on retail purchases
  • 1% fuel surcharge waiver at HPCL pumps for transactions up to ₹4,000
  • Minimum 15% savings on dining bills at 2,500+ partner restaurants via Culinary Treats

Cons

  • No complimentary airport lounge access
  • Low reward rate of 0.5% on general retail spends
  • Reward points on utilities and insurance are capped at 1 point per ₹100

Our Verdict

CASHBACK SBI Card edges ahead overall with a stronger combination of rewards and value. However, ICICI Bank Platinum Chip Credit Card could be the better pick if its specific category strengths match your spending habits.

Choose CASHBACK SBI Card if

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

Choose ICICI Bank Platinum Chip Credit Card if

Ideal for beginners looking to build a credit history without the burden of annual fees.

Frequently Asked Questions

Which is better: CASHBACK SBI Card or ICICI Bank Platinum Chip Credit Card?
CASHBACK SBI Card edges ahead overall with a stronger combination of rewards and value. However, ICICI Bank Platinum Chip Credit Card could be the better pick if its specific category strengths match your spending habits.
What is the annual fee difference between CASHBACK SBI Card and ICICI Bank Platinum Chip Credit Card?
CASHBACK SBI Card has an annual fee of ₹999, while ICICI Bank Platinum Chip Credit Card has no annual fee. CASHBACK SBI Card offers a fee waiver on ₹2,00,000 annual spend.
Which card has better rewards: CASHBACK SBI Card or ICICI Bank Platinum Chip Credit Card?
CASHBACK SBI Card offers a base reward rate of 1% with accelerated rewards on Online Spends. ICICI Bank Platinum Chip Credit Card offers 0.125% base rewards. The better choice depends on your primary spending categories.
Can I have both CASHBACK SBI Card and ICICI Bank Platinum Chip Credit Card?
Yes, many users hold multiple credit cards to maximize rewards across different spending categories. CASHBACK SBI Card and ICICI Bank Platinum Chip Credit Card can complement each other if they cover different reward categories.
Which card is better for beginners: CASHBACK SBI Card or ICICI Bank Platinum Chip Credit Card?
For beginners, ICICI Bank Platinum Chip Credit Card may be more approachable with no annual fee. However, evaluate based on your expected spending pattern rather than fee alone.

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