SBI ELITE Credit Card

SBI ELITE Credit Card Features & Benefits

The SBI Elite Card is among the most premium offerings by the SBI Card and hence comes with a number of exciting privileges. From welcome benefits to rewards to travel, you can avail exclusive offers across almost all the categories with this card. Read on to know detailed benefits & features of SBI Card Elite:

Welcome Benefits

You get a gift voucher with a monetary value of ₹5,000 from any one of the following travel/lifestyle brands- Yatra, Hush Puppies/Bata, Pantaloons, Aditya Birla Fashion, and Shoppers Stop as a welcome with the card.

Milestone Benefits

• Up to 15,000 Bonus Reward Points on achieving the stipulated spend milestones (details as below)
• The annual fee is waived on spends of Rs. 10 lakh.

SBI ELITE Credit Card Travel Benefits

• Complimentary international and domestic lounge access to domestic and international airports.
• Up to a 15% discount at the best available prices on Lalit and F&B hotels (for the MasterCard variant)
• Discount of up to 10% on Hertz car rental and up to 35% off on Avis Car Rentals (for Visa variant only).
• Enjoy exciting privileges across 900 luxury hotels. (for Visa variant only).
• Complimentary access to VIP upgrades and privileges at hotels in India and abroad with the Tablet Plus membership (for AmEx variant holders only).

Airport Lounge Access

• Free domestic lounge access 2 times each quarter by Visa/MasterCard/American Express.
• 6 complimentary access to international airport lounges per year (max 2 every quarter) with the Priority Pass program.

Movie and Dining Benefits

• Complimentary/discounted movie tickets every month (max benefit capped at Rs. 6,000 per year and Rs. 250 per ticket, offer valid for at least 2 tickets per bookings per month).
• Exciting offers and deals on dining with up to 25% off at partnered restaurants (with American Express variant only).

Golf Benefits

You get 4 free green fees rounds and up to 50% discount on all golf games along with 1 complimentary golf lesson each month at select golf courses across India. This benefit is applicable only for the MasterCard variant holders.

Concierge Service

You get a dedicated concierge service for assistance regarding flower delivery, gift delivery, and online doctor consultation. To avail of the service you need to call 1800-2121-68168 or email at support@premiumconcierge.in.

Lower Foreign Markup Fee

You are charged a lower mark-up fee of 1.99% of the transaction amount on foreign currency transactions made with the Elite SBI Credit Card.

SBI Elite Credit Card Annual Fee Waiver

The annual fee of the Elite Card is waived off if the cardholder has spent Rs. 10 lakhs or more in the previous year.

Fuel Surcharge Waiver

The 1% fuel surcharge waiver is applicable on all fuel transactions between Rs. 500 and Rs. 4,000. The maximum benefit under the waiver is capped at Rs. 250 every month for this card.

SBI Card ELITE Reward Points Reward Points

• 10 Reward Points/₹100 spent on departmental stores, dining, and grocery spends. These accelerated Reward Points are capped at 10,000 RPs each calendar month.
• 2 Reward Points/₹100 on all other purchases made with the card
• The following categories are not eligible for SBI Card ELITE Reward Points – Merchant EMI, Flexipay, E-Wallet loading, cash advances, and balance transfers.

How To Redeem SBI ELITE Credit Card Rewards?

The Reward Points earned using your SBI Elite Credit Card are redeemable against:

• e-vouchers/product catalogue on SBI Card’s official website or SBI mobile app.
• the outstanding balance of the card via Internet banking.
• The value of 1 RP = Rs. 0.25.

SBI Card ELITE Fees & Charges

Before proceeding further to apply for any credit card, one of the most necessary steps to follow is to check all its terms & conditions, charges, etc, and make sure that the fee is worth it. The detailed information about the fees & charges of SBI Card Elite is given below:

• The annual fee of the SBI Card Elite is Rs. 4,999, which is waived off on spending Rs. 10 lakhs or more in the previous anniversary year.
• The interest rate on this card is 3.75% (monthly), i.e, 45% (annually).
• The foreign currency markup fee on the SBI Elite Card is 1.99% of the transaction amount, which is very low as compared to most of the other credit cards. This fee is chargeable when you make a purchase in a different currency using your Elite card.
• The cash withdrawal charges on the Elite Credit card is 2.5% of the withdrawal amount subject to a minimum of Rs. 500. This fee is chargeable on withdrawing cash using your Elite SBI Credit Card.

Advantages and Disadvantages of Elite SBI Card

Though the SBI Elite Credit Card is a great credit card, it can have some disadvantages for some people:

Advantages

• It has privileges across all the categories, including travel benefits, so it a great option for you if you want to have an all-in-one credit card.
• If you make most of your purchases using your credit card, you can easily achieve the minimum annual spending required to get the annual fee waived off.
• The card offers great travel and lifestyle privileges and hence it is a good option for people who travel frequently and love to spend on luxury-related categories.

Disadvantages

• The card doesn’t have a very good reward rate compared to many other premium cards in the market. So, if you are a frequent shopper, this might not be the right choice for you.
• It might be disadvantageous for you if you are not ready to pay a high annual fee of Rs. 4,999 every year.

Cards Similar To SBI Card ELITE

SBI ELITE Credit Card Review

SBI ELITE Credit Card offers add-on benefits and privileges across all spending categories. The card offers a high reward rate of 2.5% on dining, departmental stores, and grocery spends and a lower reward rate of just 0.5% on other categories.

This credit card is ideal for people who have a high income and enjoy spending a significant amount of money on shopping and travel. HDFC’s Regalia Gold Credit Card, which has an annual fee of ₹2,500, and ICICI’s Sapphiro Credit Card, which has an annual fee of ₹6,500, are competitors to SBI’s Elite Credit Card.

What do you think of this premium offering from SBI Card? How does it compare to its competitors, in your opinion? Share your thoughts in the comments. If you already have the card, please share your experience to help others.