The SBI Elite Credit Card - Detailed review - ChargePlate - The Finsavvy Arena

The SBI Elite Credit Card - Detailed review


If I had to list the best credit cards that I have used or I'm currently using, SBI Elite Credit Card would definitely take its place in the top 5.
As the name suggests, SBI Elite Card does belong to the elite category for cards and with it; it carries a hefty joining & renewal fee. However, the benefits it provides does cover the fee up.

The SBI Elite Credit Card offers :

Welcome e- Gift Voucher worth Rs. 5,000
- You can choose vouchers worth 5k among Yatra, Hush Puppies/Bata, Marks & Spencer, Pantaloons and Shoppers Stop
- Once requested, Voucher code will be sent to your registered mobile number within 15 working days

(I had the SBI Signature Card which was later renamed to Elite, with Signature Card I chose Lifestyle voucher but it's not offered anymore)

Free Movie Tickets worth Rs 500 every month on BookMyShow
- 500 x 12 = Rs. 6,000 saved per year. Basically, this alone covers up the annual fee.

(Now SBI has restricted this benefit only to Primary Card, but I had availed 500 INR off on movie tickets on my 2 add-on cards. Every month I used to avail 500 x 3 = 1500 INR on just movie tickets. It took two years for the SBI to identify this loophole. By then I had already pampered myself with movie tickets worth 1500 x 24 months = 36000 INR)

Attractive Reward Points and Milestone benefits
- 2 RP on Rs 100 spent on the card. Each RP is valued at 0.25 INR
- Milestone based bonus RP as illustrated in the table below
.

3 Lacs Milestone gets you = 10000 + 6000 = 16000 RP
4 Lacs Milestone gets you = 10000 + 10000 + 6000 + 2000 = 28000 RP 
5 Lacs Milestone gets you = 10000 + 10000 + 15000 + 6000 + 2000 + 2000= 45000 RP
8 Lacs Milestone gets you = 10000 + 10000 + 15000 + +15000 + 6000 + 2000 + 2000 + 6000= 66000 RP

Hence, if you can spend 8 Lacs on this card, then you get rewarded with 66000 RPs which is as good as 16500 cash as you can get this credited in your account statement. A reward rate of 2.06%

International Airport Lounge Access through Complimentary Priority Pass Membership
- 6 Complimentary visits to International Lounges per year (Restricted to 2 visits per quarter)

• Domestic Airport Lounge Access through Visa/Mastercard Privileges
For Domestic list of lounges visit visasignature.com / worldcard.mastercard.com

Complimentary Club Vistara Silver membership
- Get 1 complimentary Lounge Access Voucher and 1 Upgrade Voucher
- Earn 9 Club Vistara Points for every Rs. 100 spent on Vistara flights

Complimentary Trident Privilege Red Tier membership

Fuel Surcharge Waiver
- 1% Fuel surcharge waiver on Minimum transaction of Rs 500
- Maximum surcharge waiver capped at Rs 250 per billing cycle

Apart from the features as mentioned above and benefits, SBI Elite Card also offers the privilege of the lowest Foreign Currency Mark-up Charge of 1.99% on International usage and Exclusive Concierge Service wherein you can get assistance with gift delivery, customized holiday packages, movie & hotel reservations. To avail the Concierge Services, call 022-42320257 or email at sbicardelite@aspirelifestyles.com.

Annual/Renewal Fee: Rs. 4,999 + Applicable taxes
(Waived off if annual spend crosses Rs 10 Lac)

To conclude, this card is indeed an advantageous credit card in terms of varieties of services and perks that it offers. If you love watching movies, this is the card that you should definitely have. The Rs 6000 yearly savings on BookMyShow itself is more than the annual fee of the card and the rest of all the benefits are technically free of cost.

Common SBI Card Benefits - Encash, Easy Money, Balance Transfer, BT on EMI, Flexipay, ATM Cash

Thanks for reading!

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The SBI Elite Credit Card - Detailed review The SBI Elite Credit Card - Detailed review Reviewed by Rahmat on July 28, 2019 Rating: 5

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