LAYER 1 — FACTUAL COMPARISON
COMPARE CREDIT CARDS
See the differences that matter before you choose.
SBI
Cashback SBI Card
VisaSBI
Cashback SBI Card
72/100
DhanChakshu Score
₹999
Annual Fee
QUICK OVERVIEW
KEY DIFFERENCES
High-impact divergences between both cards across fees, rewards, lounge access, and caps.
| Attribute | HDFCMillennia | SBICashback SBI Card |
|---|---|---|
Annual FeeDifferent | ₹1,000+ 18% GST | ₹999+ 18% GST |
Annual Fee WaiverDifferent | Spend ₹1,00,000/year | Spend ₹2,00,000/year |
Top Reward RateDifferent | 5% cashback partner merchants (capped ₹1,000/mo)Currency: Direct Statement Cashback | 5% cashback on online spends and 1% on offline spendsCurrency: Direct Statement Cashback |
Base EarningDifferent | 5% cashback partner merchants (capped ₹1,000/mo) | 5% cashback on online spends and 1% on offline spends |
Airport Lounge | Not recorded — check the issuer terms | Not recorded — check the issuer terms |
Forex MarkupDifferent | Not recorded — check the issuer terms | 3.5% foreign-currency markup — Charged on every foreign-currency transaction (Cashback SBI Card). The exchange rate is determined by the network (VISA/Mastercard etc.) on the date the transaction is settled with SBI Card. |
Fuel SurchargeDifferent | Not recorded — check the issuer terms | 1% fuel surcharge waiver at all petrol pumps in India on fuel transactions of ₹500 to ₹3,000, maximum ₹100 per billing statement per credit card account. |
Reward CapsDifferent | Shopping: max ₹1,000/month | Online: max ₹2,000/statement • Offline: max ₹2,000/statement • All: max ₹4,000/statement |
Annual FeeDifferent
Millennia₹1,000 (+ 18% GST)
Cashback SBI Card₹999 (+ 18% GST)
Fee Waiver ThresholdDifferent
MillenniaSpend ₹1,00,000/year
Cashback SBI CardSpend ₹2,00,000/year
Top Reward RateDifferent
Millennia (Direct Statement Cashback)5% cashback partner merchants (capped ₹1,000/mo)
Cashback SBI Card (Direct Statement Cashback)5% cashback on online spends and 1% on offline spends
Base Earning RateDifferent
Millennia5% cashback partner merchants (capped ₹1,000/mo)
Cashback SBI Card5% cashback on online spends and 1% on offline spends
Airport Lounge
MillenniaNot recorded — check the issuer terms
Cashback SBI CardNot recorded — check the issuer terms
Reward CapsDifferent
MillenniaShopping: max ₹1,000/month
Cashback SBI CardOnline: max ₹2,000/statement • Offline: max ₹2,000/statement • All: max ₹4,000/statement
REWARDS ARCHITECTURE
REWARDS & EARNING
Understand how each card earns, the reward currency, and category-specific rates.
| Reward Spec | Millennia | Cashback SBI Card |
|---|---|---|
| Reward Currency | Direct Statement Cashback | Direct Statement Cashback |
| Base Earning | 5% cashback partner merchants (capped ₹1,000/mo)On standard retail transactions | 5% cashback on online spends and 1% on offline spendsOn standard retail transactions |
| Accelerated / Online | 5% cashback partner merchants (capped ₹1,000/mo)On eligible merchant/online portals | 5% cashback on online spends and 1% on offline spendsOn eligible merchant/online portals |
| Reward Valuation | 1 CashPoint = ₹1.00 (statement cashback) | 1 Cashback = ₹1 (credited to the card account within two working days of statement generation) |
| Reward Caps | Shopping: max ₹1,000/month | Online: max ₹2,000/statement • Offline: max ₹2,000/statement • All: max ₹4,000/statement |
Reward Currency
MillenniaDirect Statement Cashback
Cashback SBI CardDirect Statement Cashback
Accelerated EarningDifferent
Millennia5% cashback partner merchants (capped ₹1,000/mo)
Cashback SBI Card5% cashback on online spends and 1% on offline spends
Base Retail EarningDifferent
Millennia5% cashback partner merchants (capped ₹1,000/mo)
Cashback SBI Card5% cashback on online spends and 1% on offline spends
FEE ARCHITECTURE
FEES & FEE WAIVER
Compare mandatory joining fees, renewal charges, GST impact, and spend waiver conditions.
| Fee Structure | Millennia | Cashback SBI Card |
|---|---|---|
| Annual Renewal Fee | ₹1,000 | ₹999 |
| GST Treatment (18%) | + ₹180 (Total: ₹1,180) | + ₹180 (Total: ₹1,179) |
| Annual Spend for Fee Waiver | Spend ₹1,00,000/year | Spend ₹2,00,000/year |
| Waiver Verification Status | Documented in issuer schedule of charges | Documented in issuer schedule of charges |
Annual Fee & GSTDifferent
Millennia₹1,000 (+ ₹180 GST)
Cashback SBI Card₹999 (+ ₹180 GST)
Spend for WaiverDifferent
MillenniaSpend ₹1,00,000/year
Cashback SBI CardSpend ₹2,00,000/year
BENEFITS & PERKS
BENEFITS & PERKS
Factual comparison of airport lounge access, forex markup, fuel waivers, and network.
| Benefit | Millennia | Cashback SBI Card |
|---|---|---|
| Domestic Airport Lounge | Not recorded — check the issuer terms | Not recorded — check the issuer terms |
| International Lounge | Not recorded — check the issuer terms | Not recorded — check the issuer terms |
| Foreign Currency Markup | Not recorded — check the issuer terms | 3.5% foreign-currency markup — Charged on every foreign-currency transaction (Cashback SBI Card). The exchange rate is determined by the network (VISA/Mastercard etc.) on the date the transaction is settled with SBI Card. |
| Fuel Surcharge Waiver | Not recorded — check the issuer terms | 1% fuel surcharge waiver at all petrol pumps in India on fuel transactions of ₹500 to ₹3,000, maximum ₹100 per billing statement per credit card account. |
| Payment Network | Visa | Visa |
Domestic Lounge
MillenniaNot recorded — check the issuer terms
Cashback SBI CardNot recorded — check the issuer terms
Forex Markup FeeDifferent
MillenniaNot recorded — check the issuer terms
Cashback SBI Card3.5% foreign-currency markup — Charged on every foreign-currency transaction (Cashback SBI Card). The exchange rate is determined by the network (VISA/Mastercard etc.) on the date the transaction is settled with SBI Card.
Fuel Surcharge WaiverDifferent
MillenniaNot recorded — check the issuer terms
Cashback SBI Card1% fuel surcharge waiver at all petrol pumps in India on fuel transactions of ₹500 to ₹3,000, maximum ₹100 per billing statement per credit card account.
RESTRICTIONS & GOTCHAS
CAPS, EXCLUSIONS & GOTCHAS
The restrictions that determine how much value you actually realize.
| Restriction | Millennia | Cashback SBI Card |
|---|---|---|
| Reward Caps | Shopping: max ₹1,000/month | Online: max ₹2,000/statement • Offline: max ₹2,000/statement • All: max ₹4,000/statement |
| Excluded Spend Categories |
|
|
| Operational Gotchas | Fee waiver calculations generally exclude rent, fuel, and wallet loads. | Fee waiver calculations generally exclude rent, fuel, and wallet loads. |
Reward CapsDifferent
MillenniaShopping: max ₹1,000/month
Cashback SBI CardOnline: max ₹2,000/statement • Offline: max ₹2,000/statement • All: max ₹4,000/statement
Excluded Categories
MillenniaNo reward on: Rent, Fuel, Government, Wallet
Cashback SBI CardNo reward on: Rent, Education, Insurance, Utilities, Fuel, Government, Wallet, Railways, Jewellery, Telecom
FACTUAL SUMMARY
WHAT REALLY DIFFERS
The core factual divergences to keep in mind when choosing between these two products.
- Annual fees differ: ₹1,000 (Spend ₹1,00,000/year) vs ₹999 (Spend ₹2,00,000/year).
- Reward caps differ: Millennia (Shopping: max ₹1,000/month) vs Cashback SBI Card (Online: max ₹2,000/statement • Offline: max ₹2,000/statement • All: max ₹4,000/statement).
- Earning rates differ: Top rate is 5% cashback partner merchants (capped ₹1,000/mo) on Millennia vs 5% cashback on online spends and 1% on offline spends on Cashback SBI Card.
LAYER 2 — DHANCHAKSHU ANALYSIS
DHANCHAKSHU ANALYSIS
Balanced evaluation based on verified fees, reward structures, and spend profile fit.
Consider Millennia if:
75/100
DhanChakshu Score
- You can comfortably meet its ₹1,00,000 annual spend threshold for fee waiver.
- Your regular monthly spending strongly aligns with its primary earning categories.
Consider Cashback SBI Card if:
72/100
DhanChakshu Score
- You prefer a lower annual fee commitment of ₹999 per year.
- Your regular monthly spending strongly aligns with its primary earning categories.
No Universal Winner
Neither card is universally superior for every individual. A cashback card provides frictionless savings on regular retail, while a premium points/travel card yields higher value only if you actively redeem through flight/hotel transfer partners. Choose based on your primary spending categories and redemption preferences.
LAYER 3 — PERSONALIZED MATCH
Want to know which fits YOUR spending?
Generic comparisons compare card features. Enter your monthly budget into our Spending Analyzer to calculate your exact net reward and fee savings on both cards.
Analyze My Spending →DhanChakshu is an independent credit card research platform. Card recommendations and scores are 100% algorithmically generated based on verified V8 data and are never influenced by commercial relationships.
DATA INTEGRITY
SOURCES & VERIFICATION
DHANCHAKSHU VERIFICATION
Card and reward rules were verified against official HDFC terms & conditions and Most Important Terms & Conditions (MITC) documents. Last checked: 2026-09-22.
Issuer terms can change. Always confirm the latest terms directly with the bank before applying.
View HDFC Official MITC →DHANCHAKSHU VERIFICATION
Card and reward rules were verified against official SBI terms & conditions and Most Important Terms & Conditions (MITC) documents. Last checked: 2026-10-09.
Issuer terms can change. Always confirm the latest terms directly with the bank before applying.
View SBI Official MITC →