Comparing HDFC Millennia and SBI Cashback Credit Card: Pros and Cons

Friends, nowadays there is a lot of demand for SBI Cashback Credit Card and recently SBI Bank has devalued the features of this credit card. When SBI Bank had initially launched this cashback credit card, at that time SBI had provided a lot of cashback and benefits on this credit card, due to which this credit card had become very much in demand. Now along with this, HDFC Millennia Credit Card is also quite popular in terms of cashback. So in this article we will see a detailed review of HDFC Millennia vs SBI Cashback Credit Card, after which you will be able to take a better decision.

Till some time back, Amazon Pay ICICI Credit Card and Flipkart Axis Bank Credit Card were in high demand. After these, HDFC Millennia Credit Card had come out beating these credit cards and now this Cashback Credit Card of SBI has come out beating this HDFC Millennia Credit Card. Now recently, SBI Bank has reduced the features of this credit card, about which you can get complete information from here

In this article, we will analyze in detail which of the HDFC Millennia and SBI Cashback credit cards is best for you and which card should you take?

Quick Overview Of HDFC Millennia vs SBI Cashback Credit Card:

Detailed Comparison Of HDFC Millennia and SBI Cashback Credit Card:

Based Upon Cashback:

SBI Cashback:

With SBI Cashback credit card, you get 5% cashback on every online spending without any merchant restriction. Now whether you buy your goods from Amazon, Flipkart, Myntra or any other online e-commerce store, you will get 5% cashback on your every transaction.

Apart from this you get 1% cashback on all your offline spending. SBI Cashback Credit Card earlier used to give 1% cashback on your utility bills but now this 1% cashback on utility bills has been discontinued by SBI on this card. Now you also get to see some of their terms and conditions about which we will learn step by step further.

HDFC Millennia:

In HDFC Millennia Credit Card, you get 5% cashback on online shopping only at some of its partner brands. Now its partner brands are as follows – Amazon, BookMyShow, Cult.fit, Flipkart, Myntra, Sony LIV, Swiggy, Tata CLiQ, Uber and Zomato. If you do any online shopping from any other online store other than these brands, then you will not get this 5% cashback.

In this credit card, you get 1% cashback on all the other categories except the categories mentioned above. Along with this, with this card you also get 1% cashback on all your utility bills like Electricity Bill, Water Bill, Mobile Bill etc. Now here also you get to see some restrictions, which we will cover in the following points.

Based Upon Cashback Capping:

SBI Cashback:

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SBI Cashback Credit Card simply says that you can earn a maximum cashback of ₹ 5000 in a month by combining both your online and offline spending. SBI Bank has now reduced this capping otherwise earlier this capping was ₹ 10000. However, the capping of ₹ 5000 in a month is not less because at the rate of 5%, you will have to spend ₹ 1,00,000 in a month from your credit card to reach this capping. Now it is not easy for individuals to spend one lakh rupees from their credit card in a month. Therefore, in a way we can consider it like unlimited cashback.

HDFC Millennia:

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In HDFC Millennia Credit Card, you can earn maximum cashback of ₹ 1000 only per billing cycle on your online spendings. Now at the rate of 5%, we will reach the limit of maximum cashback amount on our online spending of ₹20,000. This means that we will not get any cashback on any online spending above ₹ 20,000 from this credit card. Now any individual who purchases this HDFC Millennia Credit Card can spend more than Rs 20,000 in a month.

Similarly, even in categories where 1% cashback is available, you can earn maximum cashback of ₹ 1000 in a month.

There is a very low amount capping on the cashback you get in this credit card. Therefore, even in this scenario, SBI Cashback Credit Card is a better option.

Based Upon Non-Cashback Applicable Categories:

SBI Cashback Credit Card:

Now in SBI Cashback Credit Card you do not get this 5% or 1% cashback in some categories, these categories are as follows –

• Rent Payments
• Wallet Reloads
• Merchant EMI & Flexipay EMI
• Cash Advances
• Balance Transfer
• Encash
• utility
• Insurance
• fuel
• School & Educational Services
• Jewelery and Railways

Apart from this, there are some other categories also included which you can see from here. You do not get any kind of cashback in all these categories and these categories are excluded from almost every credit card. Therefore, we will not call this a big disadvantage.

HDFC Millennia:

Even in HDFC Millennia Credit Card, you get to see some categories in which you are not given any cashback. These categories are as follows –

• Fuel Spends
• Rent payments and Govt Related transactions
• Cash Advances
• Payment of Outstanding Balances
• Payment of card fees and other charges
• Smart EMI / Dial an EMI transaction

However, you get to see more of these exclude categories in SBI Cashback Credit Card, hence HDFC Millennia Credit Card goes a little ahead in this matter.

Based on Lounge Access Facility:

SBI Cashback:

In SBI Cashback Credit Card, earlier you used to get 4 complimentary domestic lounge access in 1 year i.e. you used to get 1 lounge access per quarter. But now SBI Bank has ended this entire system, so now you do not get any lounge access in this credit card.

HDFC Millennia:

Earlier you used to get quarterly 2 domestic airport lounge access in HDFC Millennia Credit Card i.e. you used to get total 8 domestic lounge access in a year. But now HDFC Bank has reduced the Lounge Access in this card. Now in this Millennia Credit Card of HDFC Bank, you will get the facility of Quarterly 1 Lounge Access and that too at some selected airports out of which some airports are Domestic and some are International.

And you will also get the facility of 1 airport lounge access in a quarter only if you spend Rs 1 lakh or more in a quarter with this card. We felt bad about this change in this credit card because they have reduced their Lounge Access and also set a quarterly spending limit to avail the benefits.

Based on Other Benefits:

SBI Cashback:

Apart from this, there is no significant difference between these two credit cards. But still let us discuss some of their other features in short –

You also get 1% fuel surcharge waiver in SBI Cashback Credit Card. In this, your minimum transaction should be ₹ 500 and maximum transaction should be ₹ 3000, only then you will be eligible for this benefit. In this, you can avail maximum surcharge waiver of only ₹ 100 in a month.

The joining fee of this credit card is Rs 999 + Applicable Taxes and the annual fee is also Rs 999 + Applicable Taxes but this annual fee is waived off for the first year and you have to pay it from the second year onwards. But you can also get this waived off by spending Rs 2 lakh from your credit card in a year.

Talking about Eligibility Criteria, your nationality should be Indian and your age should be between 21-70 years. Along with this, you should have a stable source of income. They have not discussed about income anywhere, hence the chances of getting this credit card are high even on your low income.

HDFC Millennia:

You also get 1% fuel surcharge waiver in HDFC Millennia credit card and in this your minimum transaction should be ₹ 400 and maximum transaction should be ₹ 5000. In this you can avail maximum surcharge waiver of ₹ 250 in 1 month.

The joining fee of this credit card is Rs 1000 + Applicable Taxes and the annual fee is also Rs 1000 + Applicable Taxes. And to get the Annual Fee of this credit card waived off, you will have to spend one lakh rupees from your credit card in a year.

Talking about the eligibility criteria, for this card also your nationality should be Indian and your age should be between 21-40 years. Along with this, if you are a salaried person then your monthly income should be ₹ 35,000 or above and if you are a self-employed person then you should have ITR of ₹ 6 lakh or above per year then only you will be eligible for this card.

Final Words:

The annual and joining fees of both SBI Cashback Credit Card and HDFC Millennia Credit Card are almost the same, there is no significant difference between them. If we come to the conclusion of this comparison, HDFC Millennia Credit Card offers you more feature than SBI Cashback Credit Card in any category. But if you analyze carefully, then this Millennia Credit Card provides you more offers in those categories which we use very frequently or in other words we use them hardly at all.

Now HDFC Millennium Credit Card provides you 1% cashback on Utility Bills but this cashback credit card of SBI does not give you any cashback on it. But we will not call it a big difference because one percent cashback does not mean much. Apart from this, HDFC Millennia Credit Card gives you dining benefits which you do not get in SBI credit card. Now you can estimate for yourself how much you use the dining benefits of a credit card.

And anyway, this credit card gives you offers only on its partner restaurants and their partner restaurants are not necessarily available at every location.

We use any of our credit cards the most for online spending and even today SBI’s Cashback Credit Card is much better than HDFC Millennia Credit Card for online spending and in this you get to see less restrictions than HDFC Millennia Credit Card. But we will ask you to take HDFC Millennia Credit Card on one condition, that is, if you travel by flights then you can take this card because in this card you get lounge access and this facility is not provided to you in SBI card.

Apart from this, you can choose between these two credit cards for yourself on the basis of your requirements and the comparison in this article. If you find this information helpful then do share it.