Compare food-delivery rewards by eligible transaction, shared cap and billing period. A high headline rate does not guarantee the best net value for your mix of Swiggy and Zomato orders.
Food-delivery options and existing-card benefits
New variants: BLCK versus ORNGE
Swiggy BLCK gives qualifying Swiggy app spending a 10% tier. Each such transaction must be at least ₹249. Its listed online-merchant 5% and other-spend 1% tiers require ₹100 per transaction. The three billing-cycle caps are ₹1,500, ₹1,500 and ₹1,000 respectively. For ₹10,000 of qualifying Swiggy purchases, the gross cashback is ₹1,000; ₹20,000 reaches the ₹1,500 cap. Orders below the transaction minimum do not qualify, regardless of the monthly total.
Swiggy ORNGE has 5% tiers requiring ₹249 per transaction, and a 1% other-spend tier requiring ₹100. The priced version has a ₹500 fee and ₹1.5 lakh renewal-waiver threshold; a Swiggy-channel lifetime-free offer is separately listed in the September terms. BLCK's listed fee is ₹1,000, with a ₹2 lakh renewal-waiver threshold. Your application or migration offer determines the fee, so a migrated lifetime-free card should not be compared using the paid-card cost.
ORNGE's cap table and worked example leave shared-versus-separate 5% bucket treatment unclear; we have not enabled its automated estimate. Neither variant gives its accelerated rate on every restaurant, online purchase or grocery transaction. Membership vouchers and limited-time discounts are separate benefits, not recurring cashback.
10% on Swiggy
₹1,500 per billing cycle
The September terms cover eligible Food Delivery, Instamart and Dineout transactions; Genie is no longer in the listed 10% services. This original variant is being phased out.
Watch out: Swiggy Money Wallet, Liquor and Minis are excluded; check updated terms and eligible spend.
5% on Swiggy + Zomato
₹1,000 per calendar month across 5% partner tier
Its terms list both Swiggy and Zomato in a ten-merchant 5% CashPoints tier. The cap is shared across those named online merchants.
Watch out: 5% applies to non-EMI spends; separate 1% other-spend tier has its own cap.
4% on Swiggy, Zomato and Ola
4% + eligible 5% categories share ₹500 per statement
Axis lists 4% on Swiggy and Zomato; the current terms also list Ola and a 5% Google Pay utility/recharge tier.
Watch out: The 4% and 5% accelerated categories share a ₹500 statement-cycle cap.
10% on eligible dining, delivery, groceries, specified shopping and utilities
₹1,200 per month shared
The five accelerated categories share one cap; spending above it earns no further accelerated cashback.
Watch out: The accelerated cap is shared across categories; verify current fee and exclusions with HSBC.
10% value-back on Zomato, Blinkit and District Movies
₹200/month per partner; wallet credit
Axis replaced the former 10% cashback on Swiggy, Zomato and BigBasket with partner-wallet value-back on Zomato, Blinkit and District Movies, effective 12 April 2026.
Watch out: This is not cashback and does not apply to Swiggy; minimum order value and app/website payment conditions apply.
The Cap Math: What You Actually Earn
The original Swiggy card's eligible 10% tier is capped at ₹1,500 per billing cycle before migration. Millennia's named-partner tier shares ₹1,000 per calendar month. ACE's accelerated tiers share ₹500 per statement cycle.
For illustration, ₹10,000 of eligible Swiggy-app spend in one billing cycle would imply ₹1,000 at the headline rate before exclusions; ₹20,000 would hit the ₹1,500 cap. Actual posting depends on eligible transactions and the issuer's billing cycle.
The chart is arithmetic only. It assumes all listed spend qualifies, applies each card's stated cap to the relevant eligible spend, and does not compare fees or other shared-category spend. Higher spend can exhaust the cap, not automatically make another card better.
Run the numbers for your household: multiply your actual monthly spend by the effective rate (not the headline rate) and subtract the annual fee divided by 12. That is your true monthly return. See our detailed breakdown of why the cashback rate is a lie.
The Swiggy vs Zomato Split Problem
The Swiggy HDFC card's accelerated 10% category is eligible spend on the Swiggy app. It separately lists 5% cashback on eligible online-shopping categories; refer to current issuer terms for the exact treatment of transactions that are not in the Swiggy tier. Millennia lists both apps among its 5% partner merchants.
Airtel Axis no longer earns cashback on Swiggy under its revised terms. Its current 10% Zomato, Blinkit and District Movies benefit is value-back credited to the corresponding partner wallet, capped at ₹200 per partner monthly. Axis ACE lists 4% on eligible Swiggy and Zomato spends with a shared ₹500 accelerated-category cap.
There is no fixed spend threshold where a two-card stack always wins. Any benefit depends on each billing period, eligible merchant category, remaining shared cap, fees, and whether you would hold the cards anyway.
For a complete guide to building a card stack that maximises every rupee, visit our Stack Builder tool.
How MCC Codes Affect Your Earning
Issuers use transaction information and their own eligibility rules to determine rewards. A merchant's app brand alone does not guarantee that every service, payment method or transaction type qualifies.
For a mismatch, check the transaction description, reward statement and issuer terms, then ask the bank to explain the classification. We do not infer the merchant category code from the app name. Read more about reward points vs cashback.
Airtel Axis: April 2026 Food-App Benefit Change
Axis's revision effective 12 April 2026 removed the 10% cashback on Swiggy, Zomato and BigBasket. It replaced that reward with 10% value-back on Zomato, Blinkit and District Movies, capped at ₹200 per partner each month and credited to the partner wallet. Do not count it as statement cashback or a Swiggy benefit.
Check the latest Axis terms and partner checkout rules before relying on this offer.
Effective Returns at a Glance
*Annualized cap is the monthly or per-billing-cycle cap multiplied by 12; billing cycles vary and these figures are not typical earnings or guaranteed value. Fee-adjusted value is not estimated because it depends on actual eligible spend, fee waivers and usage. Verify all terms before applying.
What to Do Right Now
- Check your posted spending and rewards for each app over a few billing cycles.
- Compare eligible spend against each card's cap and cap period.
- Include shared caps from other merchants or categories.
- Check the card fee and exclusions against issuer terms before applying or changing payment methods.
- Use the Smart Swipe guide to model your specific spend mix.
The Honest Verdict
Existing original Swiggy holders can use its eligible 10% tier before migration. New applicants should compare replacement variants separately. Millennia covers qualifying purchases on both apps within its calendar-month cap; ACE has a shared statement-cycle cap. Airtel's partner-wallet credits are not Swiggy cashback.
Compare your own eligible purchases, cap availability, fees and rewards actually posted. Temporary offers and issuer rules may change. No one card is best for every food-delivery user.
FAQ
Which credit card gives the highest cashback on Swiggy?
Existing holders of the original Swiggy HDFC variant earn 10% on eligible app transactions of ₹249 or more, capped at ₹1,500 per billing cycle before migration. This variant is being phased out; ORNGE and BLCK have separate terms.
Does any credit card give cashback on both Swiggy and Zomato?
Millennia's named-merchant 5% tier includes both apps, sharing a ₹1,000 calendar-month cap. Axis ACE's eligible food/ride and utility accelerated tiers share ₹500 per statement cycle. These reward periods differ.
Is the HDFC Swiggy card worth it for someone who also orders from Zomato?
The 10% accelerated tier is for eligible Swiggy app transactions. Other transactions may fall under the card's online or other-spend categories, subject to eligibility and caps; check the current HDFC terms. Millennia lists both Swiggy and Zomato in its 5% partner tier.
Does Airtel Axis still earn cashback on Swiggy and Zomato?
No. Axis revised Airtel card terms effective 12 April 2026: the former 10% Swiggy, Zomato and BigBasket cashback was replaced by 10% value-back on Zomato, Blinkit and District Movies, capped at ₹200 per partner per month and credited to each partner wallet. It is not Swiggy cashback or statement cashback.
What is the best two-card combination for food delivery?
There is no universally best stack. Compare eligible spend, billing-cycle caps and fees. Swiggy HDFC's 10% Swiggy cap is ₹1,500 per billing cycle; Axis ACE's 4% Swiggy/Zomato and 5% utility/recharge categories share a ₹500 cap. Airtel Axis's current Zomato value-back is partner-wallet credit, not cashback, and should be evaluated separately.
Does the HDFC Millennia 5% cashback apply to Swiggy Instamart grocery orders?
Millennia lists Swiggy among ten named merchants earning 5% CashPoints on qualifying non-EMI transactions. That tier shares a 1,000 CashPoint cap per calendar month. Merchant classification determines eligibility.
Is the HSBC Live+ card worth its annual fee for food delivery?
Live+ shares a ₹1,200 monthly accelerated cap across eligible dining, food delivery, groceries, specified shopping and utilities. Above-cap accelerated spending earns no cashback; 1.5% applies only to other eligible spending.
Why does the same Swiggy order earn different cashback on different cards?
Issuer rewards depend on the transaction being identified as eligible under that card's current terms. Merchant, payment route and transaction category can matter; the issuer's statement and terms determine the credited reward. Contact the issuer about a discrepancy rather than assuming an MCC explanation.
Related: HDFC Swiggy Card Review · HDFC Millennia Review · Axis ACE Review · Best Cards for Groceries · Why the Cashback Rate Is a Lie · Smart Swipe Guide
Product rules behind this comparison
BLCK's 10% tier requires qualifying Swiggy purchases of at least ₹249 each. Millennia covers qualifying Swiggy and Zomato spending in its named-merchant bucket. ACE's food/ride cashback shares its cap with eligible Google Pay bills. Original Swiggy is phasing out; migrated and new-card offers differ.
HDFC Swiggy BLCK Credit Card — earning, costs and limits
10% Swiggy app (₹1,500/cycle); 5% eligible online (₹1,500/cycle); 1% other eligible (₹1,000/cycle). Limited-time Cleartrip/Nykaa discounts are separate from cashback.
Annual fee before tax: ₹1,000. ₹2L annual spend.
September 2026 consumer-card MITC: utilities above ₹50,000 in a calendar month attract a 1% fee on the full eligible monthly total (maximum ₹4,999 before GST), not just the excess. Fuel purchases above ₹15,000 attract 1% on the full transaction, capped at ₹4,999 before GST. INR payments at overseas/internationally registered merchants attract 1.75% DCC markup. These charges and applicable GST are not deducted from gross reward estimates; a fuel-surcharge waiver does not waive the separate high-value fuel charge.
Calculation scope: The 10% rate applies to eligible Swiggy-app transactions, not all dining; 5% applies only to issuer-listed online merchants/MCCs. Generic dining and online inputs cannot identify those routes, so the calculator could assign elevated cashback to ordinary restaurant and online spend. Keep the broad-category estimate disabled.
HDFC Millennia — earning, costs and limits
5% CashPoints on 10 listed online merchants (₹1,000 per calendar-month cap); 1% on other eligible spends (separate ₹1,000 per-month cap); statement redemption 1 CashPoint = ₹1. The current card-specific terms state no minimum transaction value; merchant IDs and settlement timing govern eligible posting.
Annual fee before tax: ₹1,000. Joining fee: ₹1,000 before tax. Spend over ₹1L in the year before renewal for annual-fee waiver.
Estimates use statement credit at ₹1 per CashPoint, before the ₹50 redemption fee and applicable tax. A minimum balance of 500 CashPoints is required; statement-credit redemption is capped at 3,000 points per calendar month. Travel/catalogue redemption is ₹0.30 per point. CashPoints expire after two years.
September 2026 consumer-card MITC: utilities above ₹50,000 in a calendar month attract a 1% fee on the full eligible monthly total (maximum ₹4,999 before GST), not just the excess. Fuel purchases above ₹15,000 attract 1% on the full transaction, capped at ₹4,999 before GST. INR payments at overseas/internationally registered merchants attract 1.75% DCC markup. These charges and applicable GST are not deducted from gross reward estimates; a fuel-surcharge waiver does not waive the separate high-value fuel charge.
Calculation scope: The 5% rate applies only to ten listed merchant MIDs, while this calculator accepts broad categories such as online, dining and shopping. It cannot distinguish an eligible listed merchant from other spend, or model the separate monthly caps and redemption fee reliably; no generic estimate is shown.
Axis ACE — earning, costs and limits
5% on eligible electricity, water, gas, LPG, broadband, DTH and mobile recharge through Google Pay on Android; 4% on eligible Swiggy, Zomato and Ola transactions; 1.5% on other eligible spends. The 5% and 4% categories share one ₹500 cap per statement; the 1.5% base cashback is uncapped. Utility transactions outside Google Pay, fuel, EMI, wallet, rent, jewellery, insurance, education, government, gift cards and toll/road fees are excluded. Merchant IDs determine accelerated eligibility; cashback rounds to the nearest rupee per transaction and returns/EMI conversions reverse rewards. Fuel surcharge waiver is separate: 1% on ₹400–₹4,000 transactions, up to ₹500 per statement; GST on the surcharge is not refunded.
Joining fee ₹499; annual fee ₹499 from year two, subject to the eligible-spend waiver. Applicable taxes are extra. Annual fee waived when eligible annual spend exceeds ₹2 lakh; rent (MCC 6513) and wallet loads (MCC 6540) are excluded from waiver spend..
Calculation scope: Broad dining and utility categories cannot identify Swiggy/Zomato/Ola merchant IDs or Google Pay on Android eligibility. The accelerated buckets share a ₹500 statement-cycle cap and round per transaction; the category model would falsely apply 4%/5% to unqualified spend. No generic estimate is shown.
HSBC Live+ Credit Card — earning, costs and limits
10% cashback on eligible dining, food delivery, grocery, shopping and utility MCCs, capped at ₹1,200/month combined. Amazon, Flipkart and Myntra shopping earn 1.5%, not 10%; foreign-currency spends earn no cashback. Most other eligible domestic spends earn 1.5%. Cashback is credited within 45 days of the statement date; reversals/cancellations can recover credited cashback. ₹999 joining and annual fee; renewal reversed after >₹2L anniversary-year spend.
Annual fee before tax: ₹999. Joining fee: ₹999 before tax. ₹999 renewal fee is reversed in full after more than ₹2L spend in the anniversary year; reversal follows in the next statement cycle.
Calculation scope: The generic spend inputs cannot distinguish HSBC's accelerated-category MCCs from merchants such as Amazon, Flipkart and Myntra, or domestic from international spend (which earns no cashback). A flat category estimate would misstate rewards, so no model is enabled.
Axis Airtel Credit Card — earning, costs and limits
Earn 1% base cashback on eligible other spend. Airtel Mobile/Broadband/WiFi/DTH bill payments through Airtel Thanks earn 25%, capped at 2× the base cashback earned in that statement month; other Airtel Thanks utility bills earn 10%, capped at 1× base cashback. These app benefits require eligible merchant IDs/UPI VPAs; active Airtel connections are required for Airtel bill cashback. Zomato, Blinkit and District Movies provide separate 10% partner-wallet value back, up to ₹200 per partner/month; Zomato/Blinkit orders require ₹499 minimum, app/website checkout and card payment (UPI is ineligible). Wallet value back is not statement cashback. Utility/telecom payments outside Airtel Thanks, fuel, rent, wallet, jewellery, insurance, education, government, gift cards, tolls/road fees and EMI transactions earn no cashback. Cashback rounds down per transaction; returns and reversals adjust it.
Primary joining fee ₹500; annual fee ₹500 from year two, subject to the eligible-spend waiver. Add-on joining and annual fees are waived. Annual fee waived when eligible annual spend exceeds ₹2 lakh; rent (MCC 6513) and wallet loads (MCC 6540) do not count..
Calculation scope: Thanks-app cashback caps depend on eligible 1% base cashback in the same statement month and merchant MID/VPA eligibility. Zomato/Blinkit/District benefits are separate partner-wallet value back, not card cashback, with app/website, payment-channel and order-minimum conditions. Aggregate category spend cannot safely calculate these combined routes; no model is enabled.
A reward rate is conditional on the merchant and payment route. Numerical tools show scenarios using the supported models; they do not estimate rent, insurance, UPI or overseas earning by substituting a generic spending category.