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SBI Elite Credit Card – The Premium All-Rounder Card

Home State Bank of India SBI Elite Credit Card – The Premium All-Rounder Card
Updated: 21-08-2024 07:13:58 AM

SBI Card ELITE is an all-rounder premium card offering benefits across multiple categories including travel, movies, dining, rewards and more. Users can earn decent rewards on their everyday spends along with substantial milestone benefits, making it a good choice for high-spenders. The card also offers movie tickets worth Rs. 6,000 in a year surpassing the annual fee of Rs. 4,999. Complimentary lounge access, low foreign exchange mark-up fee and Club Vistara membership add to its advantages. Here is all you need to know about this card.

Key Highlights of SBI Elite Credit Card
SBI Elite Credit Card
Best Suited For Rewards and Travel
Joining Fee Rs. 4,999
Renewal Fee Rs. 4,999 (reversed on annual spends of Rs. 10 Lakh)
Welcome Benefit Rs. 5,000 worth welcome gift vouchers
Best Feature Up to 50,000 bonus rewards points annually; Club Vistara and Trident Privilege Membership
Paisabazaar Rating ★★★★(4/5)

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Final Video Icon  Quick View: SBI Card ELITE’s Features (Video)

SBI Elite Credit Card- Features and Benefits
SBI Elite Credit Card- Fees and Charges
Is the Rs. 4,999 Annual Fee Justified?
SBI Elite Credit Card- Eligibility and Documentation
Should you get SBI Elite Credit Card?
At a Glance: SBI Card ELITE
Cards Similar to SBI Card Elite
Frequently Asked Questions (FAQs)

SBI Elite Credit Card- Features and Benefits

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.

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 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 1

Milestone Rewards

Get up to 50,000 Bonus Reward Points worth Rs. 12,500 in a 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)

How to Redeem SBI Reward Points?

The reward points accumulated on SBI credit cards can be redeemed online by logging into SBI Card’s official website. They can also be redeemed by visiting the partner merchant store. Alternatively, you can also call on SBI Card helpline 39020202 (prefix local STD code) to redeem your reward points. Points can be redeemed in the multiples of 2000 points unless otherwise stated.

Know More
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 the transactions.

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
  • 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. 

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.

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Airport Lounge Access
Domestic Lounge Program 2 complimentary Domestic Airport Lounge visits every quarter in India. For list of lounges visit Visa/ Mastercard/American Express**
International Lounge Program* Complimentary membership to the Priority Pass Program worth $99

6 complimentary Airport Lounge visits per calendar year, outside India ( max. 2 visits per quarter)

Access over 1000 Airport Lounges worldwide

*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.

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.

Suggested Read: Top 10 Airport Lounge Access Credit Cards in India

Other Benefits of SBI Elite Credit Card

The additional significant benefits of the card are mentioned below-

  • Dedicated assistance on Flower Delivery, Gift Delivery, Online Doctor Consultation (Concierge services)
  • Low Foreign Currency Mark-up Charge of 1.99% on International usage
  • SBI Card ELITE is accepted in over 24 million outlets across the globe, including 3,25,000 outlets in India
  • 1% fuel surcharge waiver, on every transaction between Rs. 500 to Rs. 4,000, at any petrol pump across the country (maximum surcharge waiver of Rs. 250 per statement cycle, per credit card account)
  • Complimentary credit card fraud liability cover of Rs. 1 Lakh

SBI Elite Credit Card Features

SBI Elite Credit Card- Fees and Charges

Fees / Charges Amount
Annual Fee (one time) Rs. 4,999
Renewal Fee (per annum) Rs. 4,999
Finance Charges up to 3.50% per month [42% per annum]
Late Payment Fee*
  • NIL for Total Amount due from Rs.0-Rs.500;
  • Rs. 400 for Total Amount due greater than Rs. 500 & up to Rs. 1000;
  • Rs. 750 for Total Amount due greater than Rs. 1000 & up to Rs. 10,000;
  • Rs. 950 for Total Amount due greater than Rs. 10.000 & up to Rs. 25,000
  • Rs. 1,100 for Total Amount due greater than Rs. 25,000 & up to Rs. 50,000
  • Rs. 1,300 for Total Amount due greater than Rs. 50,000

Click here to check other associated fees and charges.

*An additional Late Payment Charge of Rs. 100 will be levied on missing payment of Minimum Amount Due (MAD) by the due date for two consecutive cycles. This charge will continue to be levied for every payment cycle until the MAD is cleared.

Is the Rs. 4,999 Annual Fee Justified?

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- Eligibility and Documentation

Criteria Details
Occupation Salaried or Self-employed
Minimum Income for Salaried Applicants Rs. 60,000 per month
Minimum Income for Self-employed Applicants Rs. 60,000 per month
Serviceable Cities Click here for the list of eligible cities
Documents Required Click here for the list of acceptable documents

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Should you get SBI Elite Credit Card?

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.

Should get this card if Consider other options if
  • You put most of the expenses on your credit card every month
  • You go out for movies and dining many times in a month
  • You travel abroad frequently and would take multiple trips in a year
  • You prefer staying in luxury hotels
  • You are looking for a credit card with great reward offerings
  • You are not ready to pay an annual fee of Rs. 4,999 or would not be able to get the maximum out of your card
  • You are not a frequent traveller
  • You do not shop from any of brands listed in the welcome voucher category

Check the list of top SBI Credit Cards across different categories.

Cards Similar to SBI Card Elite

Credit Card Annual Fee Reward Points / Offers
Air India SBI Signature Credit Card Rs.4,999 5 Reward points per Rs. 100 spent
IndusInd Bank Legend Credit Card Nil  1 Reward points per Rs. 100 on weekdays and 2 Reward points per Rs. 100 on weekends
HDFC Regalia Credit Card Rs. 2,500 4 Reward Points on every Rs. 150
HDFC Diners Club Privilege Rs. 2,500 4 Reward points on every Rs. 150

Frequently Asked Questions (FAQs)

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

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