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Side-by-Side Comparison|Updated March 2026

SBI Card ELITE 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

SBI Card ELITE

7.2/10
Annual Fee₹4,999
Base Rewards0.5%
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

FeatureSBI Card ELITEHDFC Bank Millennia Credit Card
Annual Fee₹4,999₹1,000
Joining Fee₹4,999₹1,000
Fee Waiver Spend₹10,00,000₹1,00,000
Base Reward Rate0.5%1%
Reward CurrencySBI Reward PointsCashPoints
NetworkVisaVisa
Editor Rating7.2/108.5/10
Forex Markup3.5%3.5%

Accelerated Rewards

SBI Card ELITE

  • 0.62% on Dining
  • 0.62% on Departmental Stores
  • 0.62% on Grocery

HDFC Bank Millennia Credit Card

  • 0% on Special Rate

Pros & Cons

SBI Card ELITE

Pros

  • Complimentary movie tickets worth ₹6,000 annually (₹500 per month).
  • Low foreign currency markup of 1.99% compared to the standard 3.5%.
  • High milestone rewards of up to 50,000 bonus points worth ₹12,500.
  • Comprehensive lounge access with 8 domestic and 6 international visits per year.

Cons

  • High annual fee waiver threshold of ₹10 Lakhs.
  • Base reward rate is relatively low at 0.5% for a premium card.
  • Club Vistara and Trident memberships have been discontinued for new users.

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

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

Choose SBI Card ELITE if

The monthly ₹500 movie ticket benefit effectively covers the annual fee.

Choose HDFC Bank Millennia Credit Card if

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

Frequently Asked Questions

Which is better: SBI Card ELITE or HDFC Bank Millennia Credit Card?
HDFC Bank Millennia Credit Card edges ahead overall with a stronger combination of rewards and value. However, SBI Card ELITE could be the better pick if its specific category strengths match your spending habits.
What is the annual fee difference between SBI Card ELITE and HDFC Bank Millennia Credit Card?
SBI Card ELITE has an annual fee of ₹4,999, while HDFC Bank Millennia Credit Card has an annual fee of ₹1,000. SBI Card ELITE offers a fee waiver on ₹10,00,000 annual spend. HDFC Bank Millennia Credit Card offers a fee waiver on ₹1,00,000 annual spend.
Which card has better rewards: SBI Card ELITE or HDFC Bank Millennia Credit Card?
SBI Card ELITE offers a base reward rate of 0.5% with accelerated rewards on Dining and Departmental Stores. 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 SBI Card ELITE and HDFC Bank Millennia Credit Card?
Yes, many users hold multiple credit cards to maximize rewards across different spending categories. SBI Card ELITE and HDFC Bank Millennia Credit Card can complement each other if they cover different reward categories.
Which card is better for beginners: SBI Card ELITE or HDFC Bank Millennia Credit Card?
For beginners, HDFC Bank Millennia Credit Card may be more approachable with a lower annual fee of ₹1,000. However, evaluate based on your expected spending pattern rather than fee alone.

Explore More

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