The SBI ELITE Credit Card is a premium credit card from SBI. It offers attractive benefits on shopping and dining expenses. It also provides a range of lifestyle benefits such as complimentary access to lounges at domestic and international airports, low foreign exchange fee, complimentary Club Vistara Silver membership, and Trident Privilege Red Tier Membership.
Brief Summary
Our View :
Best for those who like the flexibility of shopping online as well as face-to-face – since it gives 2.50% benefit rate on department stores & grocery purchases, as well as on dining spends (both online as well as face to face). Milestone benefits can help you earn more than 3% on these spends. Plus there are no monthly spend limits on earning this special benefit rate, unlike many other cards. Reward points earned can be easily converted to cashback, 1 reward point = ₹0.25 or 25 paise.
Since this is a premium card, you also get lifestyle benefits such as complimentary access to airport lounges both in India and abroad, low foreign transaction fee of 2% on spending abroad, as well as complimentary memberships to Club Vistara Silver & Trident Privilege.
The annual card spend target to get annual fee waived off (from 2nd year onwards) is on the higher side – ₹10 lakhs. If you use some of the lifestyle benefits on the card, it will help compensate for the annual fee from the 2nd year onwards. The 1st year annual fee is covered by welcome offer worth ₹5,000.
SBI ELITE Credit Card
Special Benefits
3%+ benefits on department stores, grocery & dining spends
Other Benefits
Complimentary airport lounge access both in India & abroad
Minimum Income
Not specified
Annual Fee
₹ 5,000
Annual Fee Offers
Welcome offer worth ₹5,000
Renewal fee waived at ₹10 lakh annual card spend
SBI ELITE Card : Summary Table
| 2.50% special benefit – on departmental stores, grocery and dining spends | You earn 10 reward points worth ₹2.50, on every ₹100 you spend on dining, departmental stores, and grocery spends. – 1 reward point = ₹0.25 (25 paise), and can be redeemed for cashback. |
| 0.50% basic benefit on all other purchases | You earn 2 reward points worth ₹0.50, on every ₹100 you spend on all other purchases, except fuel purchases. On fuel purchases, you earn no reward points. – 1 reward point = ₹0.25 (25 paise), and can be redeemed for cashback. |
| Milestone Privileges : Upto 1.50% additional benefit – on achieving 4 yearly spend targets | You earn – ■ 10,000 points worth ₹2,500 – at 3 lakhs yearly spend ■ Additional 10,000 points worth ₹2,500 – at 4 lakhs yearly spend ■ Additional 15,000 points worth ₹3,750 – at 5 lakhs yearly spend ■ Additional 15,000 points worth ₹3,750 – at 8 lakhs yearly spend Hence you can earn a total of 50,000 points worth ₹12,500 – at 8 lakhs yearly spend 1 reward point = ₹0.25 (25 paise), and can be redeemed for cashback. |
| Complimentary visits to airport lounges in India – upto 2 times per quarter | If you have the Visa version of SBI Elite Credit Card, please click here for details If you have the Mastercard version of SBI Elite Credit Card, please click here for details If you have the American Express version of SBI Elite Credit Card, please click here for details |
| Complimentary visits to airport lounges outside India – upto 6 times per year | – The program is brought to you by Priority Pass, one of the leading airport lounge programs in the world, which has tie ups with more than 1000 airport lounges worldwide – You get complimentary Priority Pass Membership worth US$ 99 – You get 6 free airport lounge visits per year, with a maximum of 2 visits per quarter |
| Low fee of 2% – on international transactions | You enjoy one of the lowest foreign exchange transaction fee of 2%, on the value of all foreign currency transactions |
| Complimentary Club Vistara SILVER membership | You enjoy a complimentary Club Vistara Silver membership (instead of Club Vistara Base Membership for new joinees), which comes with exclusive benefits. – You receive 1 complimentary upgrade voucher – You earn 9 Club Vistara Points for every ₹100 spent on your Vistara flights – You get priority airport check-in , at premium economy check-in counter – You get increased check-in baggage allowance For full list of benefits, please click here – Club Vistara Silver VS Base membership |
| 2 complimentary movie tickets per month – at Bookmyshow | You get ‘Buy One Get One Free Movie Offer (BOGO)’ – at Bookmyshow – You need to book at least 2 movie tickets , at one time – 2nd movie ticket is free, upto a maximum ₹250 discount – You can enjoy this offer maximum 2 times per month – Valid for primary cardholder only Hence you can get free movie tickets worth ₹6,000 every year (₹500 per month) |
| Complimentary Trident Privilege membership | You enjoy a complimentary Trident Privilege Red Tier membership, along with exclusive perks & benefits – – You enjoy 10% instant savings , on bookings made through the hotel website. – Upon registration, you receive 1000 welcome points as a bonus. – You get 1500 bonus points on your first stay, and an additional ₹1,000 hotel credit if you extend your stay. – During your stay at participating hotels, you earn 10 points for every ₹100 spent (excluding taxes). |
| Exclusive Mastercard/ Visa/ American Express privileges | Mastercard privileges: – You get complimentary access to 4 rounds of green fees and up to 50% off on golf games at selected golf courses in India. – You receive 1 complimentary golf lesson per month. – You get upto 15% discount on room rate, and food & beverage at Lalit Hotels. Visa privileges: – You can save upto 10% on Hertz car rentals , and upto 35% on Avis car rentals. – You get exclusive benefits at 900 luxury hotels worldwide. American Express privileges: – You get access to the American Express Dining Platform, and enjoy delightful dining offers and upto 25% discounts in your city. – You receive a complimentary Tablet Plus membership, providing VIP upgrades and privileges at hotels in India and around the world. |
| Exclusive concierge services | – Dedicated assistance on flower delivery, gift delivery, online doctor consultation. – To avail concierge services, you need to call 1800-2121-68168 or email at support@premiumconcierge.in |
| 1% fuel surcharge waiver | You get 1% fuel surcharge waiver at all fuel stations across India – – only on fuel transactions between ₹500 and ₹4,000 AND – only on upto ₹25,000 fuel spend per month, since the maximum waiver is capped at ₹250 per monthly card statement cycle |
| Complimentary fraud liability cover | You get a complimentary credit card fraud liability cover of ₹1 lakh. |
| ₹4,999 annual fee | Annual fee offers – – Welcome offer : You get electronic gift vouchers worth ₹5,000 (from brands like Yatra, Hush Puppies/Bata, Pantaloons, Aditya Birla Fashion, and Shoppers Stop) , which covers your first year annual fee – Renewal fee offer : Annual fee is not charged from the second year onwards , if you spend ₹10 lakhs or more in the previous year. |
Pros & Cons
Benefits of using the SBI ELITE Credit Card
- Attractive benefit rate on department store, grocery and dining spends – you could earn over 3.50% benefit rate if you achieve milestone related targets. Shopping benefits have no monthly caps/limits and are valid for both online as well as offline spends.
- Attractive travel benefits like complimentary airport lounge access in India and abroad, low foreign exchange conversion fee, complimentary Club Vistara Silver membership.
- Easy redemption of reward points – since reward points can be converted to cashback
- Complimentary credit card fraud liability cover of ₹1 lakh. This provides financial protection against unauthorised transactions and fraudulent activities, ensuring peace of mind for cardholders.
Limitations and drawbacks to consider
- High annual spend target of ₹10 lakhs, to get annual fee waiver from second year onwards.
- Reward rate on travel spends is low, hence frequent travellers may need to look at other premium travel cards.
Comparing with Competitor Fuel Credit Cards
| Features |
SBI PRIME Credit Card
Our Rating
APPLY NOW
|
|---|---|
| Rewards Rate | 0.5% – 2.5% |
| Other benefits | Fuel Surcharge Waiver |
| Annual Fee | ₹4999 + GST |
| Annual Fee Offers | Zero renewal fees – if minimum spending in the previous year is ₹10,00,000 |
| Minimum Income | Not Specified |
Full Review of the SBI ELITE Credit Card
Features & Benefits of SBI ELITE Credit Card
2.50% special benefit on departmental stores, grocery & dining spends
Earning rewards : You earn 10 reward points on every ₹100 you spend in this category (dining, departmental stores & grocery spends) = ₹2.50 on every ₹100 purchase (since 1 reward point = ₹0.25 or 25 paise).
Redeeming reward points : You can easily redeem your reward points for cashback, either online OR through the helpline. 1 reward point = ₹0.25 or 25 paise. This cashback is paid into your credit card statement.
Limits on special benefits : This category has no cap on reward points.
Other important information : Reward points expire after 2 years , from the date of earning.
0.50% basic benefit on all other spends (except fuel)
Earning rewards : You earn 2 reward points worth ₹0.50, on every ₹100 you spend on all other purchases (since 1 reward point = ₹0.25 or 25 paise).
Limits on special benefits : This category has no cap on reward points.
Redeeming reward points & other important information : same as explained in the above section
Milestone privileges : Upto 1.50% additional benefit – on achieving 4 yearly spend targets
You earn :
■ 10,000 points worth ₹2,500 – at 3 lakhs yearly spend
■ Additional 10,000 points worth ₹2,500 – at 4 lakhs yearly spend
■ Additional 15,000 points worth ₹3,750 – at 5 lakhs yearly spend
■ Additional 15,000 points worth ₹3,750 – at 8 lakhs yearly spend
(1 reward point = ₹0.25 or 25 paise)
Hence you can earn a total of 50,000 points worth ₹12,500 – at 8 lakhs yearly spend.
Milestone benefits are in addition to the benefits mentioned in the 2 sections above Milestone privileges. For example, on shopping at department stores & groceries, you could earn more than 3.50% – 2.50% special benefit and potentially more than 1% milestone benefits if you achieve the milestone targets mentioned above.
Complimentary visits to airport lounges in India – upto 2 times per quarter
To avail this offer, you need to simply present your SBI Card ELITE at the respective lounges. This offer is provided by Visa, Mastercard, or American Express.
– If you have the Visa version of SBI Elite Card, please click here for details
– If you have the Mastercard version of SBI Elite Card, please click here for details
– If you have the American Express version of SBI Elite Credit Card, please click here for details
Complimentary visits to airport lounges outside India – upto 6 times per year
The program is brought to you by Priority Pass, one of the leading airport lounge programs in the world, which has tie ups with more than 1000 airport lounges worldwide .
– You get complimentary Priority Pass Membership worth $99.
– You also get 6 free airport lounge visits per year, with a maximum of 2 visits per quarter.
– For visits to the Priority Pass member lounge after the complimentary visits, a usage fee of up to $27 plus applicable taxes will be charged on your SBI Card ELITE.
– You can receive your Priority Pass, by calling the customer helpline numbers: 1860 180 1290 or 39020202 (prefix local STD code). For more information about Priority Pass member lounges, please click here.
Please note that only Primary Card Holders are eligible for Priority Pass, and the complimentary membership is valid for two years only.
Low fee on foreign transactions – of 1.99%
You enjoy one of the lowest foreign transaction fee of 1.99%, on the value of all foreign currency transactions.
Complimentary Club Vistara SILVER membership
You enjoy a complimentary Club Vistara Silver membership (instead of Club Vistara Base membership for new joinees), which comes with exclusive benefits.
– You receive 1 complimentary upgrade voucher
– You earn 9 Club Vistara points for every ₹100 spent on your Vistara flights
– Priority airport check-in – at premium economy check-in counter
– Increased check-in baggage allowance
This program is valid for primary card holder only. For full list of benefits, please click here – Club Vistara Silver VS Base membership
2 complimentary movie tickets per month – at Bookmyshow
You get Buy One Get One Free Movie Offer (BOGO) – at Bookmyshow
– You need to book at least 2 movie tickets , at one time
– You can enjoy this offer maximum 2 times per month
– 2nd movie ticket is free, upto maximum ₹250 off
Hence you can get free movie tickets worth ₹6,000 every year (₹500 per month). For more details and to access this offer, you can visit the following link: SBI ELITE Credit Card Movie Ticket Offer.
Complimentary Trident Privilege membership
You enjoy a complimentary Trident Privilege Red Tier membership, along with exclusive perks & benefits –
– You enjoy 10% instant savings on bookings made through the hotel website.
– Upon registration, you receive 1,000 welcome points as a bonus.
– You get 1500 bonus points on your first stay, and an additional ₹1000 hotel credit if you extend your stay
– During your stay at participating hotels, you earn 10 points for every ₹100 spent (excluding taxes)
For more information and to apply for your Trident Privilege Red Tier membership, visit www.tridentprivilege.com. Please note that this offer is valid for primary cardholders only.
Exclusive Mastercard/ Visa/ American Express privileges
Mastercard privileges :
– Complimentary access to 4 rounds of green fees and up to 50% off on golf games at selected golf courses in India.
– You receive 1 complimentary golf lesson per month.
– You enjoy upto 15% discount on room rates, and food & beverage at Lalit Hotels.
Visa privileges :
– You can save upto 10% on Hertz car rentals and up to 35% on Avis car rentals.
– You get exclusive benefits at 900 luxury hotels worldwide.
American Express privileges :
– You get access to the American Express Dining Platform , for delightful dining offers and upto 25% discounts in your city.
– You receive a complimentary Tablet Plus membership, providing VIP upgrades and privileges at hotels in India and around the world.
Please note that these sought-after benefits are offered exclusively through partnerships with Mastercard, Visa, and American Express, so they are subject to their respective terms & conditions. To learn more about each benefit category, refer to ‘Mastercard privileges,’ ‘Visa Signature privileges,’ or ‘American Express privileges.’
Other Cardholder Benefits
| Fraud liability cover | – With the SBI ELITE Credit Card, you receive a complimentary credit card fraud liability cover of ₹1 lakh. – This cover protects you from unauthorised transactions or fraudulent activities on your card. – The coverage is applicable from 48 hours before reporting the loss and continues for seven days after the loss is reported. – To report a card loss, please contact the SBI Card helpline at either 39 02 02 02 (prefix local STD code) or 1860 180 1290. They will assist you in taking appropriate action to secure your card, and mitigate any potential fraud. |
| Exclusive concierge services | – Dedicated assistance on flower delivery, gift delivery, online doctor consultation. – To avail concierge services, you need to call 1800-2121-68168 or email at support@premiumconcierge.in |
| 1% fuel surcharge waiver | You get 1% fuel surcharge waiver at all fuel stations across India – – only on fuel transactions between ₹500 and ₹4,000 AND – only on upto ₹25,000 fuel spend per month, since the maximum waiver is capped at ₹250 per monthly card statement cycle |
| 24/7 customer support | Please click here for all the options to contact the bank for various issues and escalations – https://www.sbicard.com/en/contact-us/personal.page – Lost and stolen cards: you can block on your mobile app or internet banking OR through the SMS option OR by calling customer care. – Complaints and grievances : including steps on how to escalate to higher levels in case your issue is not resolved. – Raise and manage disputes. – Contact information : Phone numbers, email option |
| Security features | Chip and PIN technology – security for offline transactions – In the past, credit cards typically used a magnetic stripe located on the back of the card to store and transact data. – However, the latest generation of credit cards includes a CHIP and PIN feature, which provides enhanced security. – Only you know your PIN, so even if your card is lost, it is unlikely to be misused since BOTH the physical card and the PIN must be spent on the card. Two-factor authentication – security for online transactions – When making an online transaction, you approve your online transaction by using a One-time Password (OTP) you get on your mobile phone. – Since only you know the OTP, the card is unlikely to be misused unless someone has access to BOTH your card details AND your mobile phone. – This ensures a safe online purchase experience. SMS alerts and notifications – for both offline and online transactions – For your peace of mind, you get free SMS alerts and notifications for all your credit card transactions. – Hence you will know about all transactions on your card. In the unlikely scenario of misusing your card, you would still get these alerts and notifications – which will help you immediately block your credit card. |
| Contactless payment | – Look for the contactless network symbol on your card to determine if your credit card is contactless. – In India, contactless payments are allowed for a maximum of ₹5000 for a single transaction without requiring a Credit Card PIN. For transactions equal to or higher than ₹5000, the cardholder must input their Credit Card PIN for security reasons. |
Important Card Fees and Charges
Annual fee & annual fee offers
| Annual fee | Annual fee offers | |
|---|---|---|
| 1st year joining fee | ₹4,999 | Welcome offer : You get electronic gift vouchers worth ₹5,000 (from brands like Yatra, Hush Puppies/Bata, Pantaloons, Aditya Birla Fashion, and Shoppers Stop) , which covers your first year annual fee – 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/e-mail ID, within 30 days of the request. – For Pantaloons, Shoppers Stop and Hush Puppies /Bata you can redeem your e-gift voucher by showing the code at the respective brand store – For Yatra and Shopper Stop you can redeem the code online at the time of purchase – Aditya Birla Retail Voucher can be redeemed at these brand stores – Louis Philippe, Van Heusen, Allen Solly, Peter England, Planet Fashion, Simon Carter |
| Renewal fee from 2nd year onwards | ₹4,999 | Renewal fee offer : Annual fee is not charged from the second year onwards , if you spend ₹10,00,000 or more in the previous year. |
Late payment fee
Late payment fees depends on the total payment due
| Payment amount due | Late fee |
|---|---|
| Less than/ Up to ₹500 | NIL |
| ₹500 to ₹1000 | ₹400 |
| ₹1001 to ₹10,000 | ₹750 |
| ₹10,001 to ₹25,000 | ₹950 |
| ₹25,001 to ₹50,000 | ₹1100 |
| Over ₹50,000 | ₹1300 |
Foreign currency mark-up fee
1.99% of the transaction amount. This fee is charged when you use your card outside India.
Finance charges
3.50% per month (42% per annum)
Important Note
– GST/ other applicable taxes as per current laws, will be applicable on all fees and charges
– To view all/updated fees & charges on this card, please click here – SBI Elite Fees & Charges
Eligibility Criteria
Some basic criteria is mentioned below. Eligibility is based on multiple parameters, which is assessed by SBI Cards once you apply for the card.
| Minimum age | 21 years |
| Maximum age | 70 years |
| Occupation | Salaried , self-employed, retired pensioner |
| Income requirements | Minimum income not specified, should have regular source of income |
| Other criteria | Good credit score, preferably above 750 |
Application Process & Tracking Your Application Status
Application process and tracking application status : step-by-step guide –
| Online application process | The easiest way is to click here – APPLY NOW , you shall be taken to the card application page on the SBI Card website. You can also visit official website of SBI Card and fill out the application form. Steps : – Click on ‘Apply Now’ and fill-in the e-apply form / online application form. – Click ‘Submit’ and you will receive an instant decision on the application , basis the information provided. – If your application is approved, you will receive a call from SBI Card team for verification. – Post necessary verification, the card is issued to you. – You can also apply for a SBI Card directly from the E-Apply page (Online Credit Card Application page) on website. |
| Offline (face to face) application process | You can visit any of the nearest branches of the bank and talk to an executive regarding the process. |
| Tracking your application | You can track the status of your application in – Track Application section. You can see this section on the Home page (at the top section of the page titled – ‘Track your application’) OR on the Eapply page (at the bottom of the page titled – ‘Track Credit Card Application’). STEPS : – Enter the application number/ reference number you would have received when applying for the card . Click on the Track button to check the status of your SBI Card application – If you do not remember your application number/ reference number, then you have another option of retrieving your application number – by entering your first name and mobile number, and then pressing the button ‘Retrieve’. |
| Timelines & process | Once your credit card application is approved, you will receive your physical credit card in approximately 15 working days after submitting all the requisite documents. In addition to this, SBI Card team will send an SMS on your registered mobile number with a link to generate your E-card. With this E-card you can view your credit card details digitally, even before your physical card reaches you, and start shopping online instantly. |
Necessary documents and verification –
| Required documents | – PAN Card – Address proof : Copy of Aadhaar Card or any valid government address proof – Income documents : Salary slip, income tax return etc. (depending upon the credit card eligibility & policy) In addition to these, you may be asked to provide additional documents. Please click here for full details |
Conclusion
In conclusion, the SBI ELITE Credit Card is a good premium card for those customers who like to shop offline i.e. face to face in-store shopping, since the card offers a good reward rate on this category without any monthly caps and limits. Customers who don’t mind shopping online can get a higher benefit rate on other cards. The card also provides a variety of premium benefits like complimentary memberships, airport lounge access, low foreign transaction fee, and other lifestyle benefits.
The reward rate on travel spends is low, even if you achieve milestone related annual spend targets.
Apply Nowon SBI Card website
Frequently Asked Questions
Does the SBI ELITE Credit Card offer any travel-related benefits?
Yes, the SBI ELITE Credit Card provides travel-related benefits such as complimentary airport lounge access in India and abroad, low foreign exchange conversion fee, complimentary Club Vistara Silver membership, complimentary Trident Privilege Red Tier membership. However the reward rate on travel spends is not high, hence for travel spends you may want to consider some of the best travel cards we have listed on this website.
How do I report a loss or unauthorised transactions on my SBI ELITE Credit Card?
In case of a lost or stolen card, or any unauthorised transactions on your credit card, it is important to report it immediately to prevent further misuse. You can contact the SBI Card helpline at 1860 180 1290 or 39 02 02 02 (prefix local STD code) to report the loss and take appropriate action. The complimentary credit card fraud liability cover provided by the card offers protection during this period, subject to certain terms and conditions.
Does the SBI ELITE Credit Card provide any insurance coverage?
Yes, the SBI ELITE Credit Card offers a complimentary credit card fraud liability cover of ₹1 lakh. This coverage protects you against unauthorised transactions and fraudulent activities on your card. It is important to report any loss or suspicious activity promptly to avail the benefits of this insurance coverage.
How can I redeem the rewards earned on my SBI ELITE Credit Card?
SBI ELITE Credit Card offers easy redemption of reward points , since reward points can be converted to cashback and credited to your monthly card statement.
On this page
- Brief overview
- Pros and cons
- Detailed look at the card
- Features & benefits
- Card fees & charges
- Eligibility criteria
- Application process
- Other cardholder benefits
- Frequently asked questions
FIND THE BEST CREDIT CARD