COMPARE
HDFC Millennia Credit Card vs SBI Cashback Credit Card
On net annual value, HDFC Millennia comes out ahead for everyday spenders and frequent travellers (by up to ₹2,500 a year), and SBI Cashback for online shoppers and high spenders (by up to ₹18,680 a year). HDFC Millennia includes spend-linked airport lounge access. Figures as of .
</> Embed this comparison on your site
Free, no key. The box shows the issuer's published facts — fees, reward rates, forex, income requirement, perks — and keeps itself current. Please keep the credit line under the frame: it's the only part search engines can see, and it's what we ask for in return. Pasting the page URL into WordPress, Ghost, Notion or Substack does this automatically.
Who comes out ahead — by how you spend
Estimated net annual value for four typical spend profiles: the rewards each card earns on that spend (a merchant or portal bonus only on the share of spend it plausibly reaches), plus the perks and milestone bonuses that spender would use, less any annual fee the spend does not waive (with GST) and the forex markup on spending abroad. Lounge access carries no rupee value here.
| Spender | HDFC Millennia Credit Card | SBI Cashback Credit Card |
|---|---|---|
Everyday spender ≈ ₹40k/mo across groceries, bills, dining and fuel | ₹9,343/yr✓ +₹343/yr | ₹9,000/yr |
Online shopper ≈ ₹60k/mo, mostly e-commerce and subscriptions | ₹19,123/yr | ₹23,520/yr✓ +₹4,397/yr |
Frequent traveller ≈ ₹1.2L/mo with heavy travel and forex spend | ₹14,980/yr✓ +₹2,500/yr | ₹12,480/yr |
High spender ≈ ₹2.5L/mo across every category | ₹11,800/yr | ₹30,480/yr✓ +₹18,680/yr |
Not in these numbers: HDFC Millennia Credit Card adds airport lounge access — real perks that can outweigh a small gap.
Illustrative profiles, not a personalised result — your categories decide the real winner. Run these two on my spending →
What your points are actually worth
A point's headline value means little without the earn rate behind it. Here's the real math — the value of a point by how you redeem it, the resulting return by category, and the net rupees for your own spend.
| Value of one point, by route | HDFC Millennia Credit CardCashback | SBI Cashback Credit CardCashback |
|---|---|---|
| Cash / statement credit | ₹1.00BEST | ₹1.00BEST |
Return by categoryearn rate × point value
Headline reward rate per category, before monthly caps.
Your spend, head to head
Enter your monthly spend — net value is the annual rewards after the card fee, at each card's best realistic redemption (our recommender's model, caps and fee-waivers included).
Total ₹60,000/mo · ₹7,20,000/yr
Want the money-first pick across your whole wallet? Run the recommender →
| HDFC Millennia Credit Card | SBI Cashback Credit Card | |
|---|---|---|
| Fees | ||
| Joining fee | ₹1,000 | ₹999 |
| Annual fee | ₹1,000/yr | ₹999/yr ✓ |
| Annual fee — all-in (incl. 18% GST) | ₹1,180 | ₹1,179 ✓ |
| Fee waiver at | ₹1,00,000/yr spend | ₹2,00,000/yr spend |
| Welcome benefit | ~₹1,000 | — |
| Rewards | ||
| Best everyday reward | 1% on everyday spends | 5% on Online Shopping ✓ |
| Online Shopping | 1% | 5% ✓ |
| Base rate — other spends | 1% | 1% |
| Charges | ||
| Forex markup | 3.5% | 3.5% |
| Finance charge | 3.75% p.m. | 3.75% p.m. |
| Cash advance | — | — |
| Add-on card | — | — |
| Perks | ||
| fuel waiver | ~₹600/yr · 1% fuel surcharge waiver at all fuel stations (₹400–₹5,000 per txn), capped ₹250/statement cycle | ~₹600/yr · 1% fuel surcharge waiver, max ₹100/month |
| lounge access | ~₹2,000/yr · A domestic lounge visit each quarter on ₹1 lakh of spend in the previous quarter, issued as a voucher. Widely reported as up to 4 a year and as an alternative to the ₹1,000 quarterly voucher rather than in addition to it, though HDFC publishes neither the count nor that either/or rule. | — |
| milestone bonus | ~₹4,000/yr · ₹1,000 voucher each calendar quarter on ₹1 lakh of spend in that quarter — ₹4,000 a year only if you clear the bar all four quarters; offered as an alternative to the quarterly lounge visit | — |
| Eligibility | ||
| Min income | ₹35,000/mo | — |
| Min age | 21+ yrs | — |
| UPI linked | — | — |
| Expert rating | 4.4 / 5 | 4.5 / 5 ✓ |
Reward rates above are the realistic value you keep — points earned × what a point is worth at each card's own best redemption, before monthly caps — so cards with different point values compare fairly. Bank-portal accelerators (earned only by booking through the issuer's own portal, on a slice of spend) are bounded upside, listed separately here rather than blended into the everyday rates.
Which should you pick?
Choose the HDFC Millennia Credit Card if you want strong rewards on everyday spends plus airport lounge access. Consider the SBI Cashback Credit Card if you spend more on online shopping and prefer a lower fee. Your actual best card depends on how you spend — run your numbers below.
HDFC Millennia Credit Card vs SBI Cashback Credit Card — FAQs
Which has a lower annual fee, HDFC Millennia Credit Card or SBI Cashback Credit Card?
As of 24 Oct 2026, SBI Cashback has the lower annual fee: ₹999 (₹1,179 with 18% GST), against ₹1,000 (₹1,180 with 18% GST) on HDFC Millennia. HDFC Millennia waives it after ₹1,00,000 of spend in a card year, SBI Cashback after ₹2,00,000.
Do HDFC Millennia Credit Card and SBI Cashback Credit Card offer airport lounge access?
As of 24 Oct 2026, only HDFC Millennia includes airport lounge access: it lists 1 domestic visit a quarter at airport lounges, unlocked by ₹1,00,000 of spend in the previous quarter. For spending abroad, HDFC Millennia and SBI Cashback both add a 3.5% forex markup.
Which card has lower forex markup, HDFC Millennia Credit Card or SBI Cashback Credit Card?
As of 24 Oct 2026, HDFC Millennia and SBI Cashback charge the same 3.5% forex markup. With 18% GST on the markup, each foreign-currency transaction on HDFC Millennia or SBI Cashback costs about 4.13% extra, roughly ₹4,130 on ₹1,00,000 spent abroad.
For a frequent traveller, is the HDFC Millennia Credit Card or SBI Cashback Credit Card better value?
On figures as of 24 Oct 2026, HDFC Millennia comes out ahead for a frequent traveller (about ₹1.2 lakh a month with heavy travel and forex spend), with a net annual value (rewards, perks and milestones, less the annual fee and forex markup) of ₹14,980 against ₹12,480 on SBI Cashback, a ₹2,500 gap. That figure leaves out airport lounge access, which only HDFC Millennia includes. At this spend HDFC Millennia and SBI Cashback both waive their annual fees.
For everyday spending, which returns more: HDFC Millennia Credit Card or SBI Cashback Credit Card?
On figures as of 24 Oct 2026, HDFC Millennia comes out ahead for an everyday spender (about ₹40,000 a month across groceries, bills, dining and fuel), with a net annual value (rewards, perks and milestones, less the annual fee and forex markup) of ₹9,343 against ₹9,000 on SBI Cashback, a ₹343 gap. At this spend HDFC Millennia and SBI Cashback both waive their annual fees.
Which is better, HDFC Millennia Credit Card or SBI Cashback Credit Card?
As of 24 Oct 2026, HDFC Millennia earns 1% on everyday spends outside merchant or portal bonuses, paid as cashback, and SBI Cashback earns 5% on online shopping at best, paid as cashback. HDFC Millennia comes out ahead on net annual value for everyday spenders and frequent travellers, and SBI Cashback for online shoppers and high spenders. HDFC Millennia includes spend-linked airport lounge access.