SBI Elite Credit Card

SBI Card ELITE is a premium all-around card that offers benefits in a variety of areas, including travel, entertainment, eating, and incentives. Users can receive respectable incentives for regular spending in addition to large milestone benefits, which makes it a fantastic option for heavy consumers. In addition, the card provides movie tickets worth Rs. 6,001 per year, exceeding the Rs. 4,999 yearly charge. Its benefits include free lounge access, a minimal foreign currency markup cost, and Club Vistara membership. Prior to the introduction of the SBI AURUM Credit Card earlier this year, it was SBI Card’s most expensive credit card option; nevertheless, it is now SBI Card’s second-most expensive credit card option.

The reward rate for this card is 2 Rewards for every Rs. 100 spent (reward rate of 0.5%, since 1 Reward Point is equal to Rs. 0.25) and 5X Bonus Points for every Rs. 100 spent at department stores, restaurants, and groceries (reward price of 2.5%). There are three versions of the SBI ELITE Credit Card: the Visa, MasterCard, and American Express versions. All three types share the majority of benefits, but the payment networks also provide certain unique perks. For instance, the MasterCard version of the card offers free golf games, while the AmEx version offers reduced meal prices.

Features And Benefits Of SBI Elite Credit Card

The SBI Elite Card is one of the most expensive options offered by the SBI Card and as such offers a variety of intriguing benefits. With this card, you may take advantage of exclusive deals across nearly all areas, from welcome incentives to rewards to travel. For a complete list of SBI Card Elite’s features and perks, keep reading.

Welcome benefits	Receive a Rs. 5,000 e-Gift Voucher after paying the annual fees. Any of these companies’ vouchers are available for selection: Bata Pantaloons and YatraHush PuppiesShoppers Stop for Aditya Birla Fashion After 15 days of paying the annual fee, an SMS with e-voucher alternatives will be sent to you. Within five days of the request, the electronic voucher will be delivered to the phone number you have registered or email address.
Entertainment benefits	Get 6,000 rupees worth of complimentary movie tickets each year. A total of two passes per ticket will be eligible for this offer each month. For two tickets, a maximum price reduction of Rs. 250 per ticket would be offered.
Hotel Privileges	1,000 Welcome Points with enrollment for Trident Privilege Red Tier subscription 1,500 Complimentary Points on your very first hotel stay when you join the programme. Additional Rs. 1,000 in hotel credits if your stay is longer. However, you must apply the coupon code (SBITH) in order to receive the additional hotel credit. 10% discount of hotel website reservations made with the SBI Credit Card 10 points for every Rs. 100 spent on hotel expenses. Note: The add-on member cannot use these ELITE Advantage features while staying at the hotel as they are only available to the primary cardholder.
Golf Privileges	Green fees for four rounds of golf are free, and golf games are discounted by 50%. Additionally, one golf session at a chosen course
Travel Privileges with ELITE Advantage Card	10% off Hertz car rentals and up to 35% savings if you make your reservation via Avis Car Rentals Get up to 10,000 miles for each night you spend in a hotel. Also, the Kaligo website offers 25% more miles.
Milestone benefits	Get a maximum of 50,000 bonus points every year, or Rs. 12,500. When you spend between Rs. 3 lakh and Rs. 4 lakh annually, you may receive a maximum of 10,000 bonus reward points. On annual expenditures between Rs. 5 lakh and Rs. 8 lakh, gain up to 15,000 additional reward points. The annual charge for the preceding year is reversed if you spend Rs. 10 lakh in a calendar year.
ELITE Rewards	Spending on groceries, eating, and department stores will earn you 5X the number of reward points. For every Rs. 100 used for all other purchases, earn 2 reward points. Fuel purchases do not qualify for reward points.
Trident membership benefits	Receive 1,000 bonus points when you sign up. On your first stay, you receive 1,500 additional points. If you remain an additional night, you receive a hotel credit of Rs. 1000.
Airport and lounge benefits	The Priority Pass Programme, worth Rs. 99, is yours to use. Get six free annual visits to international airport lounges. two trips each quarter. Every three months, you are entitled to two free trips to domestic airport lounges.
Low Foreign Exchange Markup	With a 1.99% foreign exchange markup fee, the SBI ELITE credit card has the lowest rate.
Vistara Membership	You are granted free access to Club Vistara Silver Membership. Receive one free upgrade voucher. For every Rs. 100 you spend on Vistara flights, you receive 9 Club Vistara points.
Concierge Service	In this card, you also become eligible for special assistance through the bank with reservations for movies, restaurants, travel, and vacation packages. Call 1800-2121-68168 / email support@premiumconcierge.in to take use of the service.
Fuel Surcharge Waiver	All fuel purchases above Rs. 500 and Rs. 4,000 are exempt from the 1% fuel fee. For this card, the waiver’s maximum benefit is limited to Rs. 250 per month.

SBI Elite Credit Card Limit

The SBI card ELITE’s credit limit is determined at the bank’s discretion. The applicant’s credit history, credit report, and credit score are only a few of the variables at play. In addition, the applicant’s current loans or obligations are taken into account while determining the card limit.

How to Redeem Reward Points Earned On SBI ELITE Credit Card Limit

You can use the SBI credit card net banking website to redeem your reward points.

• Step 1: First, sign in to your net banking account.
• Step 2: On the home page, choose the “redeem rewards” option.
• Step 3: Under the left side of the website, the rewards you earned will be displayed.
• Step 4: Decide the reward category you want to use your points to redeem.
• Add your city in Step 5.
• Step 6: Enter the reward’s quantity and then click “add to cart.”
• Step 7: Review the disclaimer before choosing “place order.”

Fees And Charges Of The SBI Elite Credit Card

Type of Charge	Amount
Joining Fee	Nil
Annual fee	Rs.4,999
Renewal fee per annum	Rs.4,999 (From 2nd year)
Add-On card fee	Nil
Cash advance fee	(Domestic ATMs) 2.5% of what can be withdrawn, capped at Rs.(International ATMs) 2.5% of the amount withdrawn, or Rs. 500
Finance Charges	3.50 percent every month, or 42% annually
Payment dishonor fee	2% of the payment; a minimum of Rs. 450
Statement request	Rs. 100 for any statement that is older than two months
Cash payment fee	Rs.250
Late payment	From Rs.0 to Rs.500 – NilMore than Rs.500 up to Rs.1,000 – Rs.400More than Rs.1,000 up to Rs.10,000 – Rs.750More than Rs.10,000 up to Rs.25,000 – Rs.950More than Rs.25,000 up to Rs.50,000 – Rs.1,100More than Rs.50,000 – Rs.1,300.
Cheque payment fee	Rs.100
Over limit fee	2% of any amount beyond the limit, with a minimum of Rs. 600
Rewards redemption fee	Rs.99
Foreign currency transaction	1.99%

SBI Elite Credit Card Eligibility And Documentation

The essential requirements for eligibility for this SBI Elite Card are as follows, and you must meet them in order to be authorized. Your credit card application may, nevertheless, be granted or refused based on the card issuer’s extra restrictions.

Criteria	Age	Income
Self Employed individuals	21 years to 60 years	Rs. 60,000 per month or more
Salaried individuals	18 years to 65 years	Rs. 60,000 per month or more

Documents Required–

• PAN, a driver’s license, an Aadhaar card, and other documents serve as identity proof.
• Income documentation includes the most recent pay stubs, Form 16 copies, IT returns, etc.
• Filled out application form.
• A duplicate of a PAN card or Form 60.
• A passport, ration card, power bill, Aadhaar, or any kind of identification can be used as proof of residence.
• Passport-size colored photos of the applicant.

Should You Get SBI Elite Credit Card?

Even though it has a hefty annual fee, the SBI Elite Credit Card could be ideal for those who make large purchases and desire an all-purpose card. Although not exceptional, the card’s rewards rate is acceptable. However, the card provides users with respectable travel incentives, making it unquestionably an excellent travel credit card. At participating Trident hotels, the card offers users a discount of ten percent on top of a 2.50% incentives rate (10 points every Rs. 100, 1 point equals Rs. 0.25) for hotel rewards. Additionally, cardholders who purchase tickets on Vistara Airlines will receive a 2.25 percent points rate (9 points per 100 rupees; 1 point = 0.25 rupees) on their reservations. Cardholders can earn fantastic rewards by booking hotels and flights at these rates.

The rewards redemption options are not hassle-free even if the card provides respectable opportunities to earn points. There may not be many clients drawn to the traditional rewards catalogue. A payback option is available, although it has a 4:1 ratio, which is once more not an awful deal.

Additionally, the Priority Pass Membership is just good for two years, after which you must pay $99 to keep it in effect in order to continue receiving the six free lounge visits each year. The first-year charge is reimbursed in the shape of welcome e-vouchers, however there are just a few available brands. In addition, the requirement to waive annual fees of Rs. 10 lakh is significant.

In the end, the SBI Elite Credit Card might be appropriate for a person who travels frequently and makes large purchases.

Should get this card if	Consider other options if
Every month, you charge the majority of your spending to your credit card. You dine and see movies frequently over the month. You routinely visit foreign countries and make many journeys each year. You favor staying in upscale accommodations	You want a credit card with excellent reward options. You are unwilling to pay the Rs. 4,999 annual charge or won’t be able to use your card to its full potential. You don’t take many trips. You never use any of the merchants included in the welcome gift category.

How To Apply For SBI Elite Credit Card?

There are numerous offline and online applications available for the SBI Elite Credit Card. If you prefer to apply online, just follow the procedures listed below. To apply offline, go to the SBI branch that is closest to you with all the relevant documentation and fill out the offline application form there.

• Visit the official SBI Card website.
• Click the “apply now” link under the “Apply” button.
• You will be taken to a site where you may view all of the SBI Credit Cards after the redirect.
• To continue, choose the SBI Card Elite and then click “Apply Now.”
• Complete the online application form, then send it off.
• You’ll hear from a bank representative soon for further process.

How To Check SBI Card ELITE Application Status?

If you’ve previously submitted an application for the SBI Elite Credit Card, you can check the status of your application by following these steps:

• Go to the official SBI Card website and select “Credit Cards” from the menu. After that, scroll down to the “Track Application” option and fill out the necessary information. Your application status will be provided to you instantly.
• You can also get in touch with SBI Card customer service to find out how your credit card application is progressing.
• Another choice is to inquire of the bank representatives at your nearby SBI branch. But it is usually advised to choose one of the aforementioned strategies.

SBI Card ELITE Activation & PIN Generation

You can select whatever way suits you best for activating your Elite SBI credit card or create its PIN:

• If you haven’t already, sign into your SBI Card online banking account and connect your SBI Elite card. After that, it will be simple to locate a link to make or modify the card’s PIN online.
• Your credit card can also be activated using an ATM. Find a credit card PIN generating option on the main menu of your local SBI ATM.
• You can get help from SBI Card customer service if you are unsuccessful to create your credit card PIN utilizing the aforementioned techniques.

SBI Card ELITE Bill Payment

• Through the SBI bill desk, SBI offers its credit card holders a very simple option for paying their credit card bills. Simply input the necessary information, such as your credit card number, email address, the amount to be paid, etc., and continue to the payment page.
• You can also use the SBI YONO app to make payments on your SBI Elite credit card bill. Simply create an account on the app, connect your credit card, then pay the bill for your credit card in the “pay” area.
• Additionally, you can use an ATM to pay your credit card charge. Find a credit card bill payment option from the main menu at the SBI ATM that is closest to you.

SBI Card ELITE Advantage Statement

You may quickly find out the specifics of all the transactions performed with your SBI ELITE Advantage credit card by receiving the monthly statement. The bank will email you a copy of your credit card statement once a month so that you may access it at any time and review it while you’re out and about.

SBI Elite Card Login/Internet Banking

You must complete the following simple steps in order to set up your SBI Elite Card for Internet banking:

• Visit the SBI Card’s official website.
• Click the “New User?” link under the login button. Sign up now.
• Your credit card number, birthdate, CVV, and other information are required.
• On your registered mobile number, an OTP will be sent to you for verification. Enter the OTP, then continue.
• If you follow the above instructions, your card will be successfully registered for Internet banking.

Cards Similar To SBI Card Elite

Credit Card	Annual Fee	Reward Points and Offers
Standard Chartered Ultimate Credit Card	₹5,000	5 bonus points for every 150 spent5% of duty-free purchases earn cashback. Access to more than a thousand airport lounges worldwide
HDFC Diners Club Privilege Credit Card	₹2,500	Every Rs.150 spent earns 4 reward points. Reward Points up to 10X on purchases made through SmartBuy2X Paying for weekend meals with reward points
Air India SBI Signature Credit Card	₹4,999	20,000 Reward Points as a welcome bonus after paying the membership fee. Every Rs. 100 spent earns 4 reward points. For every 100 rupees spent on Air India tickets, up to 30 reward points are earned.
HDFC Regalia Credit Card	₹2,500	Every Rs. 150 spent earns 4 reward points. Milestone incentives on achieving particular annual spends 12 complimentary local lounge visits and 6 free foreign lounge visits

Advantages and Disadvantages of Elite SBI Card

Although the SBI Elite Credit Card is a fantastic credit card, some users may find that it has the following drawbacks:

Advantages

• If you’re looking for a credit card that can be used for everything, this is an excellent choice because it offers perks in all areas, including travel rewards.
• If you use your credit card for the majority of your purchases, you can easily meet the annual spending threshold needed to avoid paying the annual fee.
• The card provides excellent travel and lifestyle benefits, making it a terrific choice for those who travel regularly and enjoy making luxury-related purchases.

Disadvantages

• In comparison to many other expensive cards on the market, the card’s reward rate isn’t very good. Therefore, if you shop frequently, this might not be the best option for you.
• If you are unable to afford the exorbitant annual price of Rs. 4,999, it can be detrimental to you.

Comparison: ICICI Sapphiro Vs. SBI Card Elite

ICICI Sapphiro Vs. SBI Card Elite: Key Highlights
	ICICI Sapphiro Credit Card	SBI Card Elite
Best Suited For	Shopping and Travel	Travel, Rewards and Entertainment
Welcome Benefit	Travel and shopping gift cards worth more than Rs. 9,000	Rs. 5,000 in e-gift cards from particular partner brands.
Base Reward Rate	2 reward points for every Rs. 100 spent domestically	1 reward point for every Rs. 100 spent on everything else besides fuel.
Annual Fee	Rs. 3,500	Rs. 4,999
Lounge Access	4 free trips to domestic airport lounges per quarter* and 2 free trips to overseas lounges each year	Free domestic lounge visits twice a quarter, and free access to six overseas lounge trips annually

SBI Elite Card Vs SBI Prime Card

Fees And Charges

Fee Type	SBI Prime Credit Card	SBI Elite Credit Card
Joining or renewal fee	Rs. 2,999	Rs. 4,999
Welcome benefit	Rs. 3000 rupees worth of gift cards	Rs. 5000 Rupees worth of gift cards
Renewal Fee Waiver	Based on 3 lakh rupees in membership year expenditures	10 lakh rupees in membership expenditures every year
Foreign currency markup charges	3.5%	1.99%
Interest Free Credit	20 to 50 days	20 to 50 days
ATM Cash Withdrawals Charges	2% with a minimum of 500 rupees	2.5% with a minimum of Rs. 500
Overlimit charges	2.5% with a minimum of Rs. 500	2.5% with a minimum of Rs. 500

Rewards

Category of Spends	SBI PRIME	SBI ELITE
Birthday spends	20 reward points for every 100 rupees, with a yearly cap of 2000 reward points.	No additional perks, and the reward rate is the same as usual.
Dining, departmental stories, movies, and groceries	100 Rupees is worth 10 reward points.	100 Rupees is worth 10 reward points.
Other spends	100 Rupees is worth 2 reward points.	100 Rupees is worth 2 reward points.

Lounge Access

SBI Prime	SBI Elite
Take advantage of the priority pass program’s four free visits to the international airport lounges. A maximum of two trips are permitted each quarter.	As a member of priority pass, you can enter six free international airport lounges each year. With the SBI credit card, you can access more than a thousand lounges worldwide.
8 domestic airport lounges are accessible for free, with a cap of two visits each quarter.	Take advantage of two complimentary excursions to the national airport lounge each calendar quarter.

Eligibility Criteria

Criteria	SBI Elite Credit Card	SBI Prime Credit Card
Minimum age of the applicant	21 years	21 years
Maximum age of the applicant	70 years	70 years
Minimum Salary	Individual must have a stable income	Individual must have a stable income
Credit Score of the Applicant	750 and above	750 and above
Citizenship status of the applicant	Must be a citizen of India	Must be a citizen of India

SBI Elite Credit Card Customer Care

If you have any questions, concerns, or grievances with your Elite SBI Credit Card, you can get in touch with SBI Card customer service using the information below:

• Any of the following hotline numbers can be called to reach customer service: 1800 180 1290 (toll-free), 1860 500 1290, 1860 180 1290, or 39 02 02 02 (add your local STD as prefix).
• You can write to customercare@sbicard.com to get in touch with customer service by mail.
• You can reach SBI Card customer service via @SBICard_Connect if you utilize Twitter.

Conclusion

All spending categories are eligible for additional rewards and privileges with the SBI ELITE Credit Card. With this card, you may earn 2.5% back on dining, supermarket, and department store purchases and just 0.5% back on everything else. The card is most suitable for financially secure people who spend a sizable amount of their income on travelling and shopping. The Elite SBI Credit Card faces stiff competition from the HDFC Regalia Credit Card, which has a lower annual charge of Rs. 2,500, and the ICICI Sapphiro Credit Card, which has an annual fee of Rs. 6,500.

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