While applying for a credit card, an applicant always makes sure of what credit limit they are eligible for and what the bank is offering them. The credit limit is essentially the main focus and the reason one would ever apply for a credit card.
The credit limit is different for every user, depending on a few factors such as their credit history, credit score, salary, etc.
All these factors help in determining the credit limit of a customer but the SBI Bank credit card, the applicant is applying for is also a major part of deciding the credit limit.
Credit Limit –
The credit limit is the limit of a credit card over which a cardholder cannot make any expenses using the card. This means that the credit limit is the limit of card usage. As stated above, each credit card has a different credit limit which can be determined with the help of your past financial status, borrowings, and repayments.
Salaries are very crucial in deciding the credit limit of a credit card. The type of credit card an applicant is eligible for is determined by the salary. As for different cards, the eligibility criteria for salaries are different. SBI Bank provides a different range of credit cards all depending on the need of the customers. For every customer of every class and earning category, you will see different options available.
The credit limit of an applicant is usually 2.5 to 3 times more than that of the gross income of the applicant. This can be different depending upon the person’s risk access and the credit policies of the institution you are applying for a credit card from.
SBI Bank is one of the major financial institutions in the country and has a variety of different options available. When it comes to people earning Rs. 1 lakh or more every month, there are credit cards with premium and super premium categories revolving around all the necessary benefits of a luxuriously comfortable lifestyle.
List of Premium SBI Credit Cards –
SBI ELITE Credit Card –
This SBI ELITE Credit Card SBI is very well suited to a luxurious lifestyle where you can get benefits in all the categories such as movies, travel, and shopping. As a welcome gift, you can avail of vouchers from the registered branded partners and earn rewards on your every purchase. This card comes with a minimal fee of Rs. 4,999 plus applicable taxes.
SBI PRIME Credit Card –
This credit card comes with a joining and renewal fee of Rs. 2,999 plus applicable taxes and is best suited for Travel and shopping. With this credit card, you can also avail a gift voucher worth Rs. 3,000 as a welcome gift. There is a decent reward and redemption system that can help you earn value back on your every purchase and you can even redeem your points against a variety of options, even against flight and hotel bookings.
SBI AURUM Credit Card –
The SBI AURUM Credit Card is one of the top-notch credit cards even in the premium category. This credit card comes with a joining and renewal fee of Rs. 10,000 plus applicable taxes. The SBI AURUM Credit Card is very well suited for movies, travel, dining, and shopping with which it has the best discounts. The card altogether has an outstanding rewards system and on joining this card, you will also earn 40,000 reward points and complimentary membership to some of the brand names.
With SBI Bank, you can get a variety of options on every level. Even if you earn Rs. 15,000 monthly or Rs. 1 Lakh, there will always be numerous options from which you can choose. All these credit cards sure have different benefits and features from which you can choose the best one for you but the options are abundant.
There are better options for higher salaries as with those types of credit cards you can get better discounts, rewards, and benefits. To add to the list of benefits with high-end credit cards, you can get a better deal at the interest and forex rates. Altogether, there are many options available in the market and the above-mentioned ones are the top credit cards from SBI Bank. The one which suits you the best can only be determined by considering your needs.
