SBI SimplySAVE Credit Card vs ICICI Bank Platinum Chip Credit Card

SBI SimplySAVE Credit Card and ICICI Bank Platinum Chip Credit Cards are entry-level cards that are most suitable for the new entrants in the field of credit cards. While the former credit card lets you earn reward points while shopping and accelerated rewards while spending o particular categories, the latter is specially designed for the people who love to enjoy their meals at a restaurant as it offers great discounts on your dining and additionally provides you with reward points on your specific purchase. The SBI SimplySAVE Credit Card comes with a low joining fee of Rs. 499 per annum and the ICICI Bank Platinum Chip Credit Card is a lifetime free credit card which means that the bank does not charge any joining fee or annual fee on the issuance of this card.

Both the credit cards are quite different from each other in the context of the reward and benefits they offer. This article will discuss in detail about the features that these two cards individually carry with themselves –

SBI SimplySAVE Credit Card

The SBI Simply SAVE Credit Card is an entry-level credit card that is best suitable for new entrants in this field. This card lets you earn enhanced reward points while spending on movies, departmental stores, dining, and grocery. No value-added benefits like lounge access, golf courses, etc will be available on this card as this card is an entry-level credit card. Placed at an annual fee of Rs. 499 plus applicable taxes, this card comes with various features that are discussed in this article below –

• A welcome benefit of 2,000 reward points on spending Rs. 2,000 through your credit card within 60 days of issuance of the credit card.
• 10x Reward Points for every Rs. 100 spent towards movie, dining, departmental store and grocery spends.
• 1 Reward Point for every Rs. 100 spent on all other categories.
• As a milestone benefit, the annual fee for the succeeding year of SBI SimplySAVE Credit Card will be waived off on spending of Rs. 1,00,000 in the preceding year.
• You are entitled to a 1% fuel surcharge waiver on transactions of Rs. 500 to Rs. 3,000 at all fuel stations across India. The waiver amount is capped at a maximum of Rs. 100 per statement cycle.
• The reward points earned with SBI SimplySave Credit Card can be redeemed against the gift vouchers available at www.sbicard.com or by logging in to the SBI Mobile Application.
• The points can also be used for paying the outstanding balance towards your credit card, wherein 4 Reward Points = Re. 1.

ICICI Bank Platinum Chip Credit Card

The ICICI Platinum Chip Credit Card is also an entry-level credit card that allows decent savings on your spends made using this credit card. On the one hand, where it provides amazing discounts on your dining bills, and on the other hand, it lets you earn reward points on all the transactions done using this card. The reward points earned using this credit card can be redeemed for various options including cashback as well. This card also allows the cardholders to save on their fuel transactions specifically at the HPCL fuel stations. This card comes with 0 joining fees and 0 annual fees. The following are the features that this card brings along with it –

• You get 2 Reward Points for every Rs. 100 spent on all retail transactions.
• You earn 1 Reward Point for every Rs. 100 spent on insurance and utilities.
• Under the ICICI Bank Culinary Treats Programme, you can taste the delicacies at around 2500+ restaurants in India by enjoying 15% off on your dining bills while paying through ICICI Bank Platinum Chip Credit Card.
• Enjoy a fuel surcharge waiver of 1% at all HPCL fuel stations in India on a maximum transaction of Rs. 4,000.
• The reward points earned with this credit card can be redeemed against various gifts or for cashback wherein 1 Reward Point = Rs. 0.25

Quick Comparison

Now that we have discussed about the features of both the cards individually, let us now have a quick comparison between SBI SimplySAVE Credit Card and ICICI Bank Platinum Chip Credit Card –

Basis	SBI SimplySAVE Credit Card	ICICI Bank Platinum Chip Credit Card
Reward Rate	10x RP on every Rs. 100 spent on dining, groceries, departmental stores, and movies. 1 RP for every Rs. 100 spent on all other spends.	2 RP for every Rs. 100 spent on retail spends 1 RP for every Rs. 100 spent on utilities and insurance
Reward Redemption	Can be redeemed for gift vouchers available on www.sbicard.com or on SBI Mobile Application. Can be redeemed for paying the outstanding bill of the credit card 4 RP = Re. 1	Can be redeemed for gifts and cashback where 1 RP = Rs. 0.25
Fuel Surcharge Waiver	1% limited to Rs. 100 per month	1% at all HPCL fuel stations
Welcome Benefits	2,000 RP on the spending of Rs. 2,000 within 60 days of card issuance.	NA
Milestone Benefits	As a milestone benefit, waiver of the annual fee on spending Rs. 1,00,000 in the previous year.	NA
Dining Benefits	10x RP while spending on dining	15% off on dining bills under the Culinary Treats Programme
Membership Fee	Rs. 499 + Taxes	NIL
Renewal Fees	Rs. 499 + Taxes	NIL
Eligibility	Issued to either salaried or self-employed individual. Minimum salary of Rs. 20,000 per month and age between 18-65 years in case of a salaried individual. Minimum income of Rs. 20,000 (as per ITR) and age between 21 – 65 years in the case of a self-employed individual.	Issued to either a salaried or self-employed individual. The minimum age of the applicant should be 21 years. Should have a stable source of income. Should have a decent credit score

Bottom Line

Both the credit cards namely SBI SimplySAVE Credit Card and ICICI Bank Platinum Chip Credit Cards are decent credit cards and are best suited for the new entrants in this field. The former is suitable for those people who spend a considerable portion of their income on dining, departmental store and grocery spends while the latter lets you earn great discounts on your dining bills. Both the cards let you earn reward points on your other spends as well. While one comes with 0 joining and renewal fee, the other card comes with a nominal joining and renewal fee of Rs. 499 per annum which is quite affordable. Now that we have explained all the features of both the cards in detail, it is the customer’s choice which card he wants to opt for on the basis of his needs.

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