Table of Contents
- 1 About SBI Elite Credit Card
- 2 SBI Elite Credit Card Benefits
- 3 SBI Elite Credit Card Features
- 4 SBI Elite Credit Card Offers
- 5 SBI Elite Credit Card Eligibility Critera and Documentation
- 6 Fees and Charges of SBI Elite Credit Card
- 7 How to Redeem SBI Elite Credit Card Reward Points?
- 8 Advantages & Disadvantages of SBI Elite Credit Card
- 9 Reasons to sign up for SBI Elite Credit Card
- 10 How to Apply for SBI Elite Credit Card?
- 11 Frequently Asked Questions (FAQ’s)
SBI Card offers a range of credit cards from the Standard Silver and Gold Cards to Premium Platinum and Signature Cards. The bank also offers the SBI Card ELITE that is specifically designed for high-end users. This card provides many benefits in the form of gift vouchers and coupons.
About SBI Elite Credit Card
SBI Elite Credit Card is the most premium credit card issued by SBI. However, SBI Elite Credit Card is not just about luxury but about reward points. This means that you can earn up to 50,000 bonus reward points by using your SBI Elite Credit Card.
Check: SBI Credit Card Application
SBI Elite Credit Card Benefits
SBI Elite Welcome Gift Voucher
You get a voucher worth ₹ 5,000 as a welcome gift. This voucher can be used at any one of SBI’s partner brands like Yatra, Hush Puppies/Bata, Marks & Spencer, Pantaloons and Shoppers Stop.
Foreign Currency Markup
SBI Elite Credit Card offers you the lowest Foreign Currency Mark-up Charge in the industry. Foreign Currency Mark-up Charge is just 1.99%.
The users get a complimentary Trident Privilege Red Tier Membership along with 1000 Welcome Points on registration for this card.
Apart from this, the users get complimentary Club Vistara Silver Membership along with a complimentary lounge access voucher and an upgrade voucher. They also earn 9 Club Vistara Points per ₹ 100 spent on Vistara Flights.
SBI Elite Credit Card Lounge Access
- 6 Complimentary Visits per year to International Airport Lounges outside India under the Priority Pass Program. Max 2 visits per quarter.
- 8 Complimentary Visits per year to Domestic Airport Lounges in India under the VISA/Mastercard Lounge Program. Max 2 visits per quarter.
SBI Elite Credit Card Cash Advance
You can access cash from anywhere with over 1 million Visa ATMs in more than 100 countries around the world.
Internet Banking for SBI Elite Card
Internet Banking ensures that you can use credit cards in the comfort of your home or office and every transaction can be tracked through secure statements, text messages and emails issued by the bank.
You get to enjoy certain concierge services that aid with many activities like gift delivery, customized holiday packages, movie and hotel reservations.
Global Acceptance and Recognition of SBI Elite Credit Card
SBI Card ELITE is universally accepted and recognized in over million partner establishments worldwide.
SBI Elite Credit Card Features
SBI Elite Credit Card Fuel Points
SBI Signature/Elite Credit Card holders can bag 1% fuel surcharge waiver across all petrol pumps. Valid for transactions between Rs.500 – Rs. 4,000. Max waiver of Rs. 250 per statement cycle.
SBI Elite Credit Easy Installment Options
Purchase anything that you want and pay in easy instalments. To initiate Flexipay, call the SBI Card Helpline within a month after the purchase.
SBI Elite Credit Card Reward Points
- SBI Signature/Elite Credit Cardholders can earn 10 points per Rs.100 spent on dining, movies, department stores, and groceries.
- Cardholders can earn 2 points per Rs.100 spent on other retail products.
SBI Elite Credit Card Lifestyle Privileges
Monthly card spends can earn you INR 500 off on BookMyShow purchases every month. This is valid for minimum of two tickets per reservation and maximum rebate allowed is INR. 250 per ticket.
The user also gets Two Complimentary Movie Tickets worth INR 6000 every year.
It allows the user to earn up to 50000 Bonus Reward Points (worth Rs. 12,500/ year)
Apart from this, the user also gets 10,000 Bonus Reward Points on reaching the annual spending limit of INR 3 Lakh and INR 4 Lakh
SBI Elite Credit Card Offers
- Accommodations at reduced prices (up to 75 percent) at more than 55000 Hotels & Villas worldwide.
- You can save up to 10 percent on Hertz Vehicle Rental Program
- Get at least 30 percent refund on green fees at over 300 golf clubs.
- Cardholders can avail up to 50,000 Bonus Reward Points on annual spends.
- Cardholders can earn 10,000 Bonus Reward Points on spending Rs. 3 lakh to Rs. 4 lakh annually.
- Cardholders can enjoy lowest foreign mark-up of 1.99% on International transactions.
SBI Elite Credit Card Eligibility Critera and Documentation
SBI requires applicants to submit certain documents when they apply for the SBI Credit Card.
Identification Proof for SBI Elite Card:
- Aadhaar Card
- PAN Card
Residence Proof for SBI Elite Credit Card:
- Driving License
- Telephone or Electricity Bill
Salary: You need to have a minimum salary of Rs. 50 lacs per annum to be eligible for this card.
Fees and Charges of SBI Elite Credit Card
|Type of Fees||Charges|
|SBI Elite Credit Card Annual Fee||Rs. 4999|
|SBI Elite Credit Card Interest Rate/Charges on Revolving Credit||Up To 3.35% Per Month, I.E. 40.20% Annually|
|SBI Elite Credit Card Late Payment Charges||· Rs. 0-200: Nil|
|· Rs. 201-500: Rs. 100|
|· Rs. 501-1000: Rs. 400|
|· Rs. 1001- 10000: Rs. 500|
|· Rs. 10001 And More: Rs. 750|
|SBI Elite Credit Card Cash Advance Fees||SBI Or Other ATMs: 2.5% Of Transaction Amount, Subject to A Minimum of Rs. 300|
|International ATM: 3% Of Transaction Amount, Subject To A Minimum Of Rs. 300|
|SBI Elite Credit Card Foreign Currency Transaction Fee||1.99% Of the Transaction|
|Cash Advance Fees||Domestic – 2.5%, Min. ₹ 300|
|International – 3.0%, Min ₹ 300|
|Cash Advance Limit||80% Of Credit Limit. Max. ₹ 15,000 Per Day|
|Over Limit Account Charge||2.5%, Min. ₹ 500|
|Railway Ticket Purchase/Cancellation Fee||At Counter – ₹ 30 + 2.5% Transaction Amount|
|At IRCTC Site – 1.8% Transaction Amount + Service Charges as Applicable|
|Credit Card Replacement||₹ 100|
|Cash Payment Fee||₹ 100|
|Payment Dishonour Fee||2% Of the Payment Amount. Min. ₹ 450|
|GST||As Prescribed by The Government of India|
|Minimum Amount Due||5% Of the Total Outstanding|
How to Redeem SBI Elite Credit Card Reward Points?
The user of SBI Privilege Card can redeem Reward Points across categories like travel, holidays, lifestyle, gadgets, etc. Also, the user can use the redeem points to avail deals on products from Armani, Fossil and flight tickets from IndiGo.
Advantages & Disadvantages of SBI Elite Credit Card
SBI Elite Credit Card Advantages (Pros)
- Welcome Gift
- Excellent Rewards Program
- Airport Lounge Access
- Club Vistara And Trident Privilege Membership
SBI Elite Card Disadvantages (Cons)
- High Annual Fee
- High-Interest Rate
- No Cashback on any category
Reasons to sign up for SBI Elite Credit Card
- Excellent Rewards Program that lets you earn points on every purchase
- Additional Benefits such as Free Movie Tickets, Complimentary Lounge Access, Fuel Surcharge Waiver
- Exclusive Benefits such as Club Vistara and Trident Hotel Membership
- Global acceptance and lowest foreign currency mark-up
- SBI is one of the most-trusted banks in India
How to Apply for SBI Elite Credit Card?
Users can visit the BankBazaar website and select the ‘Credit Cards’ tab. On the credit card homepage, one can choose to explore all cards as well as check one’s eligibility for specific cards.
After specifying any requirements, the user can choose and apply for the desired credit card. Fill all the required details and hit ‘Apply’.
Frequently Asked Questions (FAQ’s)
1. Who can apply for SBI Card Elite Credit Card?
Only Indian Citizens can apply for the SBI Card Elite Credit Card. Furthermore, a person aged between 21 and 70 years is eligible to apply for SBI Card Elite Credit Card if he is a salaried employee. For those who are self-employed the person should be between 25 and 70 years of age. The monthly income of the applicant should be over Rs.75,000. Applicants must also have an existing line of credit.
2. What is Easy Money? Does SBI Card Elite come with this feature?
Easy Money is a great way that enables the SBI Card Elite user to simply get a cheque or draft made against the credit limit of your card and get it delivered right at the door step.
3. What is FlexiPay and do SBI Card Elite users get this feature?
FlexiPay is an amazing feature extended to the SBI Elite Card holders that allows the user of SBI Card Elite to convert their purchases of ₹ 2,500 or above into easy EMIs.
4. Can a customer get an Add – On Card for SBI Card Elite?
Yes, users of SBI Card Elite can get Add – On cards for their parents, spouse, children or siblings provided that the recipient is above 18 years of age.
5. What are the charges for emergency credit card replacement when in a foreign land?
The minimum charge is $175 in case of an emergency card replacement in a foreign land.
6. Which credit card of SBI is best?
SBI’s Elite Credit Card is the best SBI Credit Card that allows the user to enjoy many privileges like Welcome Vouchers, Trident Privilege Red Tier Membership, Club Vistara Silver Membership and access to International Airport Lounges along with many other benefits.
7. What is SBI Smart Elite?
SBI’s Smart Elite Plan is designed to provide insurance facilities to those who are looking to grab major benefits from their investment. This scheme is made for those individuals who have a high net-worth.