SBI Elite Credit Card

Welcome e-gift voucher worth Rs. 5,000

SBI Elite Credit Card charges a joining fee of Rs. 4,999 but returns the entire amount in the form of a Rs. 5,000 welcome gift voucher. You can choose the brand of your choice from the varied brands that include Hush Puppies/ Bata, Yatra.com, Shoppers Stop and Pantaloons, Aditya Birla Fashion.

You will receive an SMS to choose from e-voucher options within 15 days of 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 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.

Milestone 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

Converting into the cashback, 50,000 bonus rewards will be around Rs. 12,500. (Ratio of 4:1)

Free movie tickets worth Rs. 6,000 every year

If you think the annual fee of SBI Elite Credit Card is too high, you should know that the entire fee amount can be balanced against this benefit alone. The card offers complimentary movie tickets worth Rs. 6,000 every year. You can book 2 tickets per month under this offer and the maximum discount will be Rs. 250 per ticket. You would have to pay only the convenience fee applicable on the transaction.

Exclusive Travel Benefits  (Memberships and Lounge access)

Club Vistara and Trident Privilege Membership

With your SBI Elite Credit Card, you will get a complimentary Club Vistara Silver Membership. The membership includes:

• 1 complimentary Upgrade Voucher

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• 9 Club Vistara Points for every Rs. 100 spent on Vistara Flights

Please note that this membership is only for primary cardholders. Once you get your new SBI Elite Credit Card, you should register for internet banking and then activate your Club Vistara Membership. Click here to apply for your Club Vistara Silver membership. 

SBI Elite Credit Card is a great option if you are a frequent traveler as it offers numerous travel benefits. Trident Red Tier Membership is another benefit that you can avail on this card. The membership includes-

• 1,000 welcome points on registration
• 10% instant discount on booking through the hotel’s website
• 10 points per Rs. 100 spent for booking room at participating hotels
• 1,500 points on your first stay
• Additional 1,000 hotel credit on extended night stay (use promo code: SBITH)

This offer is valid for primary cardholders only and can be activated by visiting the internet banking facility of SBI Card.

Airport Lounge Access

*Usage fee of $27+applicable taxes will be charged on your SBI Card ELITE for visits to the Priority Pass member lounge after the complimentary visits.

**Note: As per RBI guidelines, American Express variant of this card is not being sourced currently.

Click here to know more about Priority Pass member Lounges. Only Primary Cardholders are eligible for Priority Pass and complimentary membership will be valid for 2 years only.

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If you are a frequent traveller and specifically looking for a travel credit card, here are some other alternatives besides SBI Elite Credit Card-

Mastercard / Visa /American Express Privileges

Depending on the card network type, you can also avail additional benefits on your SBI Elite Credit Card as below-

*Note: As per RBI guidelines, American Express variant of this card is not being sourced currently.

Other Benefits of SBI Elite Credit Card

The additional significant benefits of the card are mentioned below-

Click here to check other associated fees and charges.

SBI Elite Credit Card charges an annual fee of Rs. 4,999 which makes it a bit costly one to have. However it is true to say that the annual fee is itself reversed in the form of welcome vouchers of Rs. 5,000 that the card offers. Overall, when compared with the benefits that it offers, the fee is justified. SBI Card has also set a fee waiver condition of reaching the spending milestone of Rs. 10 Lakh in a year which might seem too high for the cardholders. SBI Elite Credit Card is surely for the elite segment and if you are someone who would like to avail premium privileges, put high spends on the card and are willing  to pay a high annual fee for it, then this card is perfect for you. 

SBI Elite Credit Card would be best suited for the 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 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 the 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 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. 

At the end, SBI Elite Credit Card would suit the needs of a frequent traveler and a heavy spender.

• Click here  to start the application
• Enter basic details such as contact number, income, occupation, etc
• Select the SBI Elite credit card from the available drop-down options list
• Proceed with the eligibility check by providing some more details
• If eligible, proceed with the application by providing personal details and employment details
• Click on submit to complete the process
• Once the details are verified, an executive will get in touch

You will have to submit the relevant documents. A field agent will come and collect the same from your home or office address. SBI Card will then examine your application and verify the documents, after which the card will be issued.

Is SBI Card Elite credit card internationally acceptable?

SBI ELITE credit card is accepted at over 24 million Visa outlets worldwide, including 3,25,000 outlets in India.

Does the card offer fuel surcharge waiver & if yes, where can I avail it?

Yes, SBI Elite Credit Card offers fuel surcharge waiver. It can be availed at any petrol pump in India.

Can I transfer my outstanding balance on any other bank’s credit card?

Yes, SBI Card Elite credit card provides the facility of ‘Balance Transfer’ via which you can transfer balances from other bank’s credit cards to SBI Elite.

Does the card provide Fraud liability cover?

Yes, you get a cover of Rs. 1 Lakh against fraudulent transactions.

What should I do if I lose my credit card in a Foreign Land?

In case you lose your SBI Elite Credit Card in a foreign land you can call on a 24×7 Visa helpline number to get it replaced. Country wise numbers can be found here