SBI Elite Credit Card - Features, Benefits & Charges

SBI Elite Credit Card (4.5)

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If you're searching for a premium card that can help you save money and earn rewards simultaneously, the SBI Elite Credit Card is worth checking out! This versatile all-purpose card is tailor-made for high-spenders and frequent travellers and provides a wide range of benefits in several categories, such as travel, movies, dining, rewards, and more. With a joining and annual fee of ₹4,999, you can earn a reward rate of 0.5% to 5% on all your spending. So, take a look at the card's features and decide if it's worth it for you. 👇

Features and Benefits

Aspects that make spending using this card lit as the sun!

Welcome Bonus
Travel
Fuel
Rewards
Shopping
Cashback
Dining
Insurance
Interest
Lounge
Welcome Bonus

E-gift vouchers worth ₹5000 upon joining.

Note: Brands to choose from are Shoppers Stop, Pantaloons, Hush Puppies/Bata and Aditya Birla Fashion.

Entertainment Benefit

Free movie tickets worth ₹6,000 every year, with a maximum discount of ₹250/ticket for 2 tickets per month.

Note: The Convenience Fee would be chargeable.

Milestone Benefit
  • 10,000 bonus reward points on spending ₹3 lakhs and ₹4 lakhs on the card.
  • 15,000 bonus Reward Points on achieving annual spends of ₹5 lakhs and ₹8 lakhs.
  • Spend Based Reversal of Annual Fee on spends of ₹10 Lakh.
Concierge Services

Assistance with gift delivery, flower delivery, and online doctor consultation.

Note: Call 1800-2121-68168 or email at support@premiumconcierge.in to avail.

Fuel Surcharge

1% fuel surcharge waiver, on every transaction between ₹500 and ₹4,000, at any petrol pump across the country. 

Note: Maximum surcharge waiver available is ₹250 per statement cycle.

EMI Benefit

Facility of transferring other bank credit card balances to their SBI Card and paying back in EMIs.

Zero Lost Card Liability

Complimentary credit card fraud liability cover of ₹1 lakh, valid from the period of 48 hours prior to reporting of loss till 7 days post reporting of loss.

Reward Points
  • Get 5X Reward Points on Dining, Departmental stores and Grocery Spends.
  • Earn 2 Reward Points per ₹100 on all other spends, except fuel.
  • Reward Rate: 0.5% to 5%
Fee and Charges

Think of these as small investments to keep your credit card running smoothly.

Charges

Joining Fee

₹4,999

Annual Fee

₹4,999

Annual Percentage Rate

42%

Add-on Card Fee

Free

Minimum Repayment Amount

5%

Cash Withdrawal Fee

2.50%

Cash Advance Limit

80%

Card Replacement Fee

₹100

Foreign Transaction Fee

1.99%

Over Limit Penalty

2.50%

Fuel Transaction Surcharge

1%

Reward Point Value

₹0.25
Late Payment Charges

Balance from ₹0 to ₹500

₹ 0

Balance from ₹500 to ₹1000

₹ 400

Balance from ₹1000 to ₹10000

₹ 750

Balance from ₹10000 to ₹25000

₹ 950

Balance from ₹25000 to ₹50000

₹ 1100

Balance more than ₹50000

₹ 1300
Pros

Aspects that make this credit card amazing.

  1. Accepted in more than 24 million outlets across the globe, with 3,25,000 outlets in India.
  2. Exclusive benefits across 900 luxury hotels worldwide.
  3. Up to 15% discount on F&B at Lalit Hotels.
  4. Facility to withdraw cash from over 1 million ATMs across the globe.
  5. Offers 2 reward points on every ₹ 100 spent on international transactions.
Cons

Aspects this credit card lacks.

  1. A maximum of 2 visits per quarter are allowed to airport lounges.
  2. The users can redeem the points for travel bookings (flights/hotels) only.
  3. Maximum fuel surcharge waiver available is just ₹ 250 per statement cycle.
  4. High annual fee waiver condition of ₹ 10 lakh.
SBI Elite Rating & Reviews

This is the truth, the whole truth, and nothing but the truth; brought to you by the other users.

Charges

(3.5)

Rewards

(3.5)

Customer Service

(3.5)

SBI Elite Credit Card Review

If you are a frequent traveller or someone who likes to spend on dining and entertainment, the SBI Elite Credit Card can be a good option for you. The card comes with several valuable benefits, such as airport lounge access, free movie tickets, and a low foreign exchange markup fee. However, it is important to note that the annual fee for the card is relatively high. Therefore, it is crucial to consider whether the benefits offered by the card justify the cost.
Cards similar to the SBI Elite Credit Card:
1. Air India SBI Signature Credit Card
2. HDFC Diners Club Metal Edition Credit Card
3. IndusInd Bank Legend Credit Card

Overview

Best For Travel and Shopping
Joining Fee  ₹4,999 + Applicable Taxes
Annual Fee  ₹4,999 + Applicable Taxes
Welcome Benefits  Gift vouchers worth ₹5,000
Card Type  Premium Card
Card Network  Mastercard / American Express

Who should get an SBI Elite Credit Card?

The SBI Elite Credit Card is a good option for people who:

  • Travel frequently: The card's airport lounge access and low foreign exchange markup fee can be very valuable for frequent travellers.
  • Spend a lot on dining and entertainment: The card's reward points can be redeemed for travel, merchandise, and statement credits, which can help offset the cost of dining and entertainment.
  • Are willing to pay a high annual fee: The card's annual fee is high, so it is important to consider whether the benefits justify the cost.

Reward Points

The users can earn reward points against the purchase made using the credit card. 

Every ₹ 100 is spent on International transactions. 2 Reward Points                                  
Paying the card outstanding using the reward points.

4 Reward Points = ₹1

Reward Rate 0.5% to 5%

How to apply for an SBI Elite Credit Card?

The users can apply for SBI Elite Credit Card online from the official website of SBI Card. Otherwise, the interested candidates can go to the nearest bank branch to enquire about the same. Follow the steps listed below to apply online for SBI Elite Credit Card:
 
  • Visit the official website of SBI Card.
  • Under the "Personal” section, click on the option "Credit Cards".
  • "SBI Card ELITE" is listed under the "Lifestyle" in the "Our Premium Credit Cards” section. 
  • Click on "Apply Now."
  • Fill in all the required details and upload all the necessary documents in order to complete the process.

SBI Elite Credit Card Eligibility

  • Age:18 to 70 years
  • Occupation: Salaried or Self Employed
  • Income: Salaried - ₹60,000 p.m., Self-Employed: ITR > ₹7.2 Lakhs p.a.

Documents Required

  • Proof of identity: PAN Card, Aadhaar card, Driver’s License, Passport, Voter’s ID, Overseas Citizen of India Card, Person of Indian Origin Card, Job card issued by NREGA, Letters issued by the UIDAI or any other government-approved photo ID proof.
  • Proof of Address: Aadhaar card, Driver’s License, Passport, Utility Bill not more than 3 months old, Ration Card, Property Registration Document, Person of Indian Origin Card, Job card issued by NREGA, Bank Account Statement, or any other government-approved address proof.
  • Proof of Income: Latest one or two salary slips (not more than 3 months old), latest Form 16, and the last 3 months’ bank statement.
SBI Card Cards Issued & Spends

Keep an eye on the credit card's monthly performance through the number of cards issued and the cumulative transaction value!

Bank name:

SBI Card

SBI Card Credit Card Customer Care Number:

1800 425 3800

SBI Card Card Offers:

View Offers

Total Cards:

1,87,51,636
SBI Card Credit Card News
23 Mar 2024, Saturday
1. SBI Card and Titan Team Up to Launch Exclusive Shopping Credit Card - Titan SBI Card

SBI Cards and Titan have joined forces to introduce the Titan SBI Card, a co-branded credit card aimed at fulfilling customers' aspirations for premium shopping. This card offers a variety of benefits, including:

  • Lucrative cashback: Cardholders can enjoy a generous 7.5% cashback on purchases at Titan stores (watches, Taneira, Titan EyePlus, and other non-jewellery brands) and 5% cashback at partner stores (Mia, Caratlane, and Zoya).
  • Annual benefits exceeding Rs 2 lakh: The Titan SBI Card promises rewards worth over ?2,00,000 annually through cashbacks, gift vouchers, and reward points (specific details not mentioned in the sources reviewed).
04 Mar 2024, Monday
2. SBI Card changes reward program, ends rent points and physical DreamFolks Cards.

SBI Card is making changes to its credit card program starting 1 April, 2024. These changes include:

  • No more reward points for paying rent with many of their cards.
  • They will no longer issue physical cards for DreamFolks memberships.
  • They are updating their minimum payment calculation method to be more transparent and fair.

Here's some of the list of affected Credit Cards:

30 Oct 2023, Monday
3. State Bank of India Card (SBI Card) has announced its plans to introduce a fresh array of shopping credit cards in partnership with Reliance Industries.

According to reports, the upcoming credit card offering from Mukesh Ambani, Asia's richest man, is expected to be named 'Reliance SBI Card'. The new credit card is set to provide customers with a host of "exclusive" benefits that are designed to enhance their shopping experience.

It is launching two credit cards in collaboration with Reliance. The first one is called Reliance SBI Card and has a joining fee of Rs. 499. It offers basics such as discounts on shopping with Reliance Brands. The second one is called Reliance SBI Card Prime and has a joining fee of Rs. 2999. It offers more benefits such as complimentary lounge access along with discounts on Reliance Brands. SBI Card will release more information about these cards when they are launched officially.

15 Oct 2023, Sunday
4. Earn Rs. 250 Amazon voucher when you connect your SBI RuPay credit card to UPI.

As part of this program, SBI RuPay credit cardholders have the opportunity to link their card with their preferred UPI app and make transactions of at least Rs 100 during the offer period, which runs from October 12, 2023, to November 11, 2023. Upon meeting this requirement, they will receive a Rs 250 Amazon Discount E-voucher that can be used for either a 3-month or 12-month Amazon Prime membership.
Each cardholder is entitled to receive only one voucher, which will be sent via email to their registered email address on or before December 31, 2023.
The E-vouchers are valid until April 30, 2024, and can be used to extend Amazon Prime memberships by up to 12 months, with a limit of one extension per customer. 

22 Apr 2023, Saturday
5. SBI beats peers in new cards added for February

SBI and Axis Bank are leading the credit card market in terms of new cards added for the month of February. Axis Bank, with the new found customer base of Citi Bank showed a growth of 11.7%. In terms of new customers, the number stood at 2,00,000 new cards issued.

SBI on the other hand, singlehandedly lead the race with a growth of 19.8% for the same period, adding 3,00,000 new cards issued by the legacy bank.

The two leaders were followed by ICICI Bank, and Kotak Mahindra Bank with 80,000 additions. HDFC Bank trailed the top 5 list with only 60,000 cards added to its existing numbers.

11 Apr 2023, Tuesday
6. SBI Card revises cashback benefits on service

Starting 1st May 2023, SBI will revise some of its cashback and discount services. Under the revision, the domestic airport lounge services will be discontinued. Apart from these, cashback on services like jewellery, school and educational services, utilities, insurance services cards, member financial institution/quasi cash, and railways and others will also be axed. The bank will also be setting a limit on cashback that can be availed through online and offline transactions to Rs 5,000 per statement cycle. These changes come after SBI cards recorded the highest new card issuances at 3,00,000 in February. Yet, SBI also experienced a 7% month-on-month reduction in credit card spending.

SBI Elite Customer Reviews

No Customer reviews yet. Be the first to review this card.

Frequently Asked Questions

SBI Card ELITE provides you with the lowest foreign currency markup charge of 1.99% on international transactions. You will also receive 2 reward points for every Rs. 100 spent on international transactions. With the SBI Card Elite, you can enjoy these fantastic benefits on your international purchases.

The SBI Card Elite Advantage has been designed to complement your current spending habits. You can earn reward points with this credit card every time you make a purchase. This card provides cardholders with a variety of benefits, including welcome bonuses, fee waivers, entertainment bonuses, milestone bonuses, Trident Privilege Membership

Add-on cards are available to cardholders. It is simple to apply for an SBI add-on credit card. An add-on card is completely free. The add-on cards are available to all existing cardholders.

A Rs.1lakh fraud liability cover is provided to cardholders. You must report the loss within 48 hours of discovering it. You must go to the bank's website or call the SBI credit card customer service helpline. If you do not do this, you may be held liable for the entire loss.

If you lose your credit card while travelling abroad, you can contact international customer service and request that your card be blocked immediately. It's possible that you won't get a replacement card right away. It is essential to notify your bank and other financial institutions about the loss of your card in order to protect your funds and identity.

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