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SBI Elite Credit Card is an all-rounder premium credit card with benefits across varied categories including travel, shopping, movies, and more. With a reward rate of 2.5% (on certain categories) SBI Card Elite is a highly rewarding card, especially if you are a high spender. Read more to know about the detailed features and benefits of the card.
The SBI Card Elite Credit Card provides benefits on air travel, hotel bookings, and foreign transactions. This card also provides typical SBI credit card benefits like complimentary movie tickets, annual fee waivers, accelerated rewards, balance transfer on EMI, Flexipay facility, and a lot more.
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SBI Elite Credit Card-Features and Benefits
Welcome e-gift voucher worth Rs. 5,000SBI Elite Credit Card charges a joining fee of Rs. 4,999 but returns the entire amount in the form of Rs. 5,000 welcome gift vouchers. You can choose the brand of your choice from the varied brands that include Hush Puppies/ Bata, Yatra.com, Shoppers Stop and Pantaloons.
You will receive an SMS to choose from e-voucher options within 15 days of the annual fee payment. The e-voucher will be sent to your registered mobile number/email ID, within 5 days of the request.
ELITE Rewards on all your purchases
SBI Card Elite is a highly rewarding card, especially if you are a high-spender. Following is the reward point structure of the SBI Elite Credit Card-5X Reward Points on Dining, Departmental stores, and Grocery Spends
2 Reward Points per Rs. 100 on all other spends, except fuel
2 Reward Points on every Rs.100 spent on International transactions
Note: 4 Reward Points= Rupee 1Milestone Rewards
Get up to 50,000 Bonus Reward Points worth Rs. 12,500/ year. Reward points are given in the following manner:10,000 bonus rewards each on spending Rs. 3 Lakh and Rs. 4 Lakh in a year
15,000 bonus reward points on spending Rs. 5 Lakh in a year
Additional 15,000 rewards on reaching annual spends of Rs. 8 Lakh
Free movie tickets worth Rs. 6,000 every year
With SBI Card Elite you will get complimentary movie tickets worth Rs. 6,000 every year. The transaction will be valid on at least 2 tickets per booking every year and you can avail a maximum benefit of Rs. 250 per ticket. Also, a convenience fee will be charged on all transactions.
Should You Get SBI Elite Credit Card
SBI Elite Credit Card would be best suited for people who are heavy spenders and want an all-rounder card, even if it carries a high annual fee. The rewards rate on the card is not that great but satisfactory. However, the card offers decent travel benefits to the users, hence it is definitely a good travel credit card. In terms of hotel rewards, the card offers cardholders a 10% discount on top of a 2.50% rewards rate (10 points per Rs. 100, 1 point = Rs. 0.25) at participating Trident hotels. Additionally, cardholders purchasing Vistara Airlines tickets will earn a 2.25% rewards rate (9 points per Rs. 100, 1 point = Rs. 0.25) on their bookings. These hotel and flight booking rates allow cardholders to earn great rewards on all their travels.
Though the card offers decent opportunities to earn rewards, the redemption choices are not hassle-free. The conventional rewards catalogue may not attract a lot of customers. There is a cashback option but in a 4:1 ratio which is again not a very good deal.
Moreover, the Priority Pass Membership is only valid for 2 years after which you will have to pay $99 to continue the membership in order to enjoy the 6 complimentary lounge visits in a year. Though the first-year fee is returned in the form of welcome e-vouchers, the brand options are very limited. Also, the annual fee waiver condition of Rs. 10 lakh spend is high.