Do you still carry cash in your wallet? If yes, then this article is just for you. You’ll be surprised by the number of rewards and benefits you’re missing out on. Also, if you’re already using a credit card then read further about the SBI Prime Credit Card and be prepared to upgrade your existing card to this one.
SBI Prime Credit Card is the latest credit card offered by SBI. This card is revolutionary in terms of the various benefits and rewards it offers. It is a semi-premium credit card that targets individuals with middle to high income.
Eligibility
- Minimum annual income of up to Rs.3 Lacs.
- Minimum 21 years to maximum 60 years.
Fees And Charges
SBI charges an annual fee of Rs.2999 (effectively Rs.3000) for this card but you can get an annual fee waiver if you spend Rs.3,00,000 in a year which is a small amount that you are anyway likely to spend in a year.
Reward Points
- You can earn 20 reward points for every Rs.100 spent on utility bill payments. (Rs.5 on every Rs.100)
- Also, 15 reward points for every Rs.100 spent on Reliance Fresh, Big Basket, Reliance Footprint, Reliance Trends, and Sahakari Bhandar stores. (Rs.3.75 on every Rs.100)
- 20 reward points for every Rs.100 spent on your birthday.
- 10 points for every Rs.100 spent on Dining, Groceries, Departmental stores, and Movies.
- 2 points for every Rs.100 on all other spendings.
- Get a Pizza Hut e-Voucher worth Rs.1,000 if you spend Rs.50,000. (Once a year)
- Get a Yatra/Pantaloons Voucher worth Rs.7,000 if you spend Rs.5 Lacs.
Once you’ve earned enough of these reward points you can easily redeem them for gifts and vouchers from the exclusive rewards catalog.
Welcome Gift
SBI Prime Card welcomes you with an e-gift Voucher worth Rs.3,000 from any one of these brands: Bata/Hush Puppies, Marks, and Spencer, Pantaloons, Shoppers Stop, and Yatra.
Club Vistara Membership
- Users get a Complimentary Club Vistara Silver membership.
- Also, 1 complimentary Lounge Access Voucher (National or International) and 1 Upgrade Voucher which will come in very handy for all the travelers out there since we all know how much upgrades costs.
- 4 complimentary airport lounge visits at international priority lounges (2 per quarter).
- 8 complimentary visits to domestic VISA/MasterCard lounges in India (2 per quarter).
- You can get 9 Club Vistara Points for every Rs.100 spent on Vistara flights.
Fuel surcharge waiver
SBI Prime Credit Card offers you a 1% fuel surcharge waiver if you purchase fuel worth Rs.500 to Rs.4000. (Valid across all petrol pumps in India)
Other Features
- You can easily transfer the outstanding balance on your other bank’s credit card to this Credit Card. The interest rate charged for this transfer is 0.50% for 3 months and 0.75% for 6 months.
- You can get 2 add-on cards with a credit limit for your family members.
- It comes with additional security as you can simply wave your card at a secure reader and make any transaction. This will also make sure that your card doesn’t leave your hand and move to third parties which significantly reduces the risk of card loss.
- SBI Prime Credit Card is accepted in over 3,25,000 outlets in India.
Shortcomings
- SBI charges a 3.35% rate of interest per month on late payments which is slightly higher if compared to other cards.
- Also, this card offers no cashback schemes whatsoever which is rare with credit cards these days as almost all other cards from the same segment offer a lot of cashback schemes.
Final Thoughts
All pros and cons considered, this card is still a power-packed card that offers a lot of rewards to its users. This card gives a neck-to-neck competition to HDFC credit cards in terms of rewards and benefits. While everyone is complaining about the customer care of HDFC bank these days, I think SBI Prime will be a better choice for getting the same rewards with better services.