Planning to get an SBI Credit Card? Before applying for a credit card, one must know what type of credit card are they looking for? Well, it’s quite simple to select the right credit card. It all depends on your basic needs and daily requirements. Mostly, people prefer using a credit card to evade the issue of carrying money all the time even in an emergency. Some others plan to get a credit card to get exclusive rewards, offers, special discounts, and more on their purchases. Regardless of the reason you think of getting a credit card, you need to be aware of the right credit card that befits your needs. SBI Card Elite is one of the most prevalent premium credit cards offered to customers with copious benefits and offers. Without much ado, let’s get into the detailed description of the SBI ELITE Card, its benefits, monthly charges, annual fees, etc., in this article. Take a glimpse!
Table of Contents
- SBI ELITE Credit Card
- SBI Card ELITE Eligibility
- SBI ELITE Credit Card Benefits
- 1. Welcome Benefits
- 2. Mastercard / VISA Privileges
- 3. Club Vistara Membership
- 4. Airport Lounge Access
- 5. Milestone Privileges
- 6. ELITE Business Rewards
- 7. Fuel Surcharge Waiver
- 8. Complimentary Movie Tickets
- 9. Lowest Forex Markup
- 10. Yatra for Business
- 11. Metro Cash & carry
- 12. Cash Access Across the World
- 13. Fraud Liability Cover
- 14. Trident Privilege Red Tier membership
- SBI Elite Card Annual Fee and Charges
- Documents Required to Apply for SBI Card ELITE
- How to Apply for SBI ELITE Credit Card
SBI ELITE Credit Card
SBI ELITE Card provides you exciting and attractive rewards every time you spend purchasing some goods or products using the card. SBI ELITE credit card is extremely advantageous to those who regularly travel across different parts of the nation and the world. SBI considers it as a lifestyle and travel credit card which is helpful for people who visit other countries professionally or for personal reasons.
By using this card, the cardholders can gain a lot of discounts on domestic and international flight bookings, hotel bookings. Moreover, the Elite cardholders can get attractive offers that include local and international lounge access. First-time users can also get plenty of welcome benefits, and immense privileges through the Elite SBI card. If you are a person who loves entertainment every weekend and dinner parties, SBI Elite is the right card for you. With this card, the cardholders can get a bunch of travel benefits, shopping, entertainment, dining, and more. Despite charging a high annual fee of Rs. 4999, the Elite card gives back to the customers generously.
SBI Card ELITE Eligibility
Customers seeking to apply for an SBI Elite Credit Card need to know the eligibility criterion. The basic eligibility details include the following:
- Salaried Employees
- Self-Employed Individuals
- For Salaried Employees: 21 to 70 Years
- For Self-Employed Individuals: 25 to 70 Years
- Salaried Individuals: Higher than Rs. 20000 per month
- Self-Employed Individuals: Above Rs. 400000 per annum
- Must be a citizen of India
- Applicant’s credit score must be 750 or above
Apart from the aforementioned eligibility details, the add-on card holder must have an age above 15 years.
SBI ELITE Credit Card Benefits
SBI Elite Credit Cardholders can get plenty of benefits while paying bills, dining, and a lot more. Here is a list of the significant SBI Elite card benefits. Check it out!
1. Welcome Benefits
The applicants who have received their SBI Elite Card will get welcome benefits for the first time. As part of the welcome benefit, the customers can get an e-Gift voucher worth Rs. 5000 upon payment of the annual fees. The customers can select the e-gift voucher from different brands such as Shoppers Stop, Yatra, Hush Puppies, Pantaloons, Aditya Birla Fashion, Bata, and more.
2. Mastercard / VISA Privileges
One of the noteworthy SBI Elite credit card benefits is VISA/Mastercard privileges. Based on the type of card network, the customers can get extra benefits on their SBI Elite Credit Card.
- Customers can save up to 10 percent on car rental bookings with Hertz and up to 35 percent on car rentals with Avis Car Rentals.
- Cardholders can get complimentary Tablet Plus membership and acquire benefits and VIP upgrades at hotels.
- Acquire 4 rounds of complimentary green fees access and 50 percent off on Golf games alongside 1 complimentary lesson every month. However, this offer is available at selected golf courses.
3. Club Vistara Membership
Another key benefit of the SBI ELITE Credit Card is Club Vistara Membership. With this membership offer, the customers can get a complimentary membership to Club Vistara Silver. The cardholders can get 1 free Lounge Access Voucher and 1 Upgrade Voucher. Customers can get 9 Club Vistara Points with every Rs. 100 spent.
4. Airport Lounge Access
The customers can get domestic and international airport lounge access through the Elite SBI card. The cardholders can get an advantage from this lounge program. With this program, the customers can get 2 complimentary domestic lounge visits every quarter in the nation. Complimentary membership to the Priority Pass Program is also given to the customers through this credit card. The cardholders can access 6 complimentary lounge visits every year. For every 4 months, the customers can utilize a maximum of 2 visits. The customers can acquire access to above 1000 airport lounges across the world.
5. Milestone Privileges
Milestone Privileges is one of the notable SBI card Elite benefits offered to the customers. The cardholders can get 10000 bonus reward points upon exceeding annual expenditure of Rs. 3 lakhs and Rs. 4 lakhs. 10000 bonus reward points upon exceeding annual expenditure of Rs. 3 lakhs and Rs. 4 lakhs. From the 2nd year onwards, the customers can get a renewal fee waived off on exceeding spends of Rs. 1000000 in the previous year.
6. ELITE Business Rewards
ELITE Business Rewards is another beneficial element to the customers by using this credit card. The benefits offered through Elite rewards include:
- 5X Reward Points: Customers can get 10 reward points on every spent of Rs. 100 while dining, at the departmental stores and groceries.
- 2 Reward Points: Cardholders can gain 10 reward points for every Rs. 100 spent on other expenses. Customers cannot earn business rewards on fuel.
- 2 Reward Points: Customers can earn reward points on every Rs. 100 spent on international transactions.
Briefly, 4 Reward Points means Re. 1
7. Fuel Surcharge Waiver
- By doing transactions ranging between Rs. 500 and Rs. 4000 at any petrol bunk, 1 percent fuel surcharge will be waived off. You can check all the transactions performed on the credit card in the transaction history.
- The maximum surcharge dropped per credit card is Rs. 250.
8. Complimentary Movie Tickets
As part of entertainment benefits, the customers can get free movie tickets worth Rs. 6000 every year. The cardholders can utilize this offer until a certain period. It will be valid for a minimum of 2 tickets per booking every month. The convenience fee will also be charged.
9. Lowest Forex Markup
Some other SBI card Elite benefits include Lowest Forex Markup. SBI Elite credit card provides the lowest forex mark-up charge to the customers at 1.99 percent for international usage.
10. Yatra for Business
SBI Card Elite offers exclusive travel SBI Card Elite benefits to the customers through this card.
- Customers can get a discount of Rs. 750 at the time of booking flight tickets worth Rs. 6000 and more.
- By doing hotel bookings, customers can get 20 percent off.
- Both the discounts can be accessed only once every quarter.
11. Metro Cash & carry
Customers can get 10 reward points by spending Rs. 100 every time at Metro Cash and Carry stores. The customers can get access to Bandhan which is a loyalty program of Metro Cash and Carry. A discount of about 20 percent will also be available on your purchase value. The cardholders can get free delivery in case they stay within 60 km of the city limits.
12. Cash Access Across the World
Customers have accessibility to cash anywhere across the world.
13. Fraud Liability Cover
- Customers can access free Rs. 1 lakh fraud liability cover on this Elite Card.
- The cover is valid from the period of 2 days before reporting a loss till 7 days after reporting the loss.
14. Trident Privilege Red Tier membership
For regular travelers, SBI Elite Credit Card provides copious travel or yatra benefits to the users. Trident Red Tier Membership offer is an exclusive benefit to the customer. The membership offer provides:
- 1000 welcome reward points on registration.
- 10 points per Rs. 100 spent on booking a room at select hotels.
- 10 percent instant discount by booking at the official website of different hotels.
- 1500 points on the first stay at a hotel.
- Extra 1000 hotel credit on extended night stay. [Promo Code: SBITH]
This exclusive offer will be valid only for primary cardholders. It can be activated by visiting the internet banking provision of the SBI Card.
SBI Elite Card Annual Fee and Charges
In this SBI Elite Card review, we even mentioned the SBI Elite card charges, annual fees, and other details. This information helps the cardholders to understand the charges levied every month on their credit card. Check the details regarding the SBI Elite card annual fee and charges levied on the customer. Check it below:
|SBI Elite Credit Card Charges||Amount|
|Renewal fee per annum||Rs.4,999 [Starting 2nd Year]|
|Finance Charges||3.50% per month or 42% per annum|
|Cash payment fee||Rs.199 + applicable taxes|
|Add-On card fee||Nil|
|Payment dishonor fee||2% of the payment amount, a minimum of Rs. 450|
|Cheque payment fee||Rs.100|
|Statement request||Rs.100 per statement (more than 2 months old)|
|Cash advance fee||2.5% of the amount withdrawn or Rs. 500 (Domestic ATMs)2.5% of the amount withdrawn or Rs. 500 (International ATMs)|
|Statement request||Rs.100 per statement (more than 2 months old)|
|Foreign currency transaction||1.99%|
|Card replacement fee||Rs. 100 to Rs. 250|
|Rewards redemption fee||Rs.99|
|Over limit fee||2.5% of the over limit amount, minimum of Rs. 600|
|Late payment||From Rs. 0 to Rs. 500 – NilMore than Rs. 500 up to Rs. 1000 – Rs.400More than Rs. 1000 up to Rs. 10000 – Rs. 750More than Rs. 10000 up to Rs. 25000 – Rs. 950More than Rs. 25000 up to Rs. 50000 – Rs. 1100More than Rs. 50,000 – Rs. 1300.|
Documents Required to Apply for SBI Card ELITE
Customers who are seeking to apply for an SBI Card Elite need to submit some of the vital documents to the card issuers. Here is a list of the important documents required for the SBI Credit Card ELITE application.
For Proof of Identity
- Aadhaar Card
- Driver’s License
- Job card issued by NREGA
- Overseas Citizen of India Card
- PAN Card
- Person of Indian Origin Card
- Voter ID Card
For Proof of Income
- Last 3 Months Bank Statement
- Latest 2/3 Months Salary Slips
- Latest Form 16
For Proof of Address
- Aadhaar Card
- Bank Account Statement/ Address proof approved by any other government
- Driver’s License
- Job Card
- Latest Utility Bill [Not more than 3 months old]
- Ration Card
The card issuers may ask some other essential documents to approve an SBI Credit Card Elite to the customers following the internal policies.
How to Apply for SBI ELITE Credit Card
Follow the simple steps provided below to apply for an SBI ELITE credit card. From the official website of SBI, the customers can apply for the SBI Credit Card Elite. Check it out!
- Visit the official website of the SBI Card from your device.
- On the home page of the website, you can find the ‘Apply’ button.
- Click it and on the next screen, you can find 28 different credit cards offered by SBI with different benefits.
- From the list of SBI credit cards, you will find SBI Card Elite.
- Below the card, you can find the ‘Apply Now’ button. Just click it.
- On the next screen, you can start filling the application form.
- Tap the checkbox if you already have an SBI Credit Card or not.
- Fill in the crucial details such as the personal details, professional details, and the current residential address in the given fields.
- Submit all the details and upload the required documents to finish the application procedure.
That’s all! This is an easy procedure to apply for an SBI Elite Credit Card. Now you can need to look for the credit card application status to know whether it is approved or not.
This is everything you need to know about SBI Card ELITE. We assume that this guide has given complete information about SBI Elite credit card benefits, and other vital features of the card. In this SBI Elite card review, we even mentioned the monthly charges, annual fees and more levied on the SBI Elite credit card. If you still have any queries or doubts, just ask us without any hesitation. For more related posts and articles, visit our website MoneyCompass regularly.