Apollo SBI Credit Card
SBI Card and Apollo Hospitals have launched the Apollo SBI Credit Card, offering health benefits like discounts and rewards on Apollo services. Cardholders can also earn points on other purchases. With a low joining and renewal fee of Rs. 499, the card includes bonus reward points and a free Apollo Membership as welcome benefits.
This card is ideal for those who regularly use Apollo healthcare services, such as treatments at Apollo Hospitals or purchases from Apollo pharmacies. Cardholders get instant discounts on select Apollo services and earn extra reward points for transactions at Apollo Hospitals. The card's renewal fee can even be waived if certain spending requirements are met within the year.
As a welcome benefit, users receive 500 reward points worth Rs. 500 after paying the joining fee, with the points credited within 20 days. They also get complimentary Apollo Gold Membership for the first year. To continue this membership for another year, users must spend at least Rs. 75,000 at Apollo Centers in the previous year; otherwise, the membership will downgrade to Apollo Silver Tier.
Rewards and Benefits
Fees & Charges
What should you consider before applying for a credit card in India?
Key Considerations Before Applying for a Credit Card in India:
- Eligibility Criteria: Ensure you meet the eligibility requirements, which typically include age, income, credit score, and employment status as defined by the issuing bank or financial institution.
- Credit Score: A strong credit score can significantly improve your chances of approval and result in more favorable terms, such as lower interest rates or higher credit limits. Verify that your credit score is healthy before applying.
- Interest Rates and Fees: Compare the annual percentage rates (APR), processing fees, late payment penalties, and foreign transaction charges associated with various cards. These costs can vary widely and impact the overall value of the card.
- Rewards and Benefits: Evaluate the rewards, cashback, discounts, or other perks offered by the card to ensure they align with your spending patterns. Some cards may provide better benefits in specific categories, such as travel, shopping, or dining.
- Credit Limit: Review the credit limit offered by the card to ensure it meets your financial needs. Avoid applying for cards with excessive limits if you are concerned about managing debt, as this can lead to higher interest charges.
- Repayment Terms: Understand the repayment structure, including the minimum payment amount, payment due dates, and any associated penalties. Being clear about these terms can help you manage payments effectively and avoid interest buildup.
- Card Type and Features: Choose a card type that matches your specific needs—whether standard, premium, or specialized cards like those offering travel rewards or dining privileges. Ensure the features of the card align with your lifestyle and spending habits.
- Bank’s Reputation: Opt for a financial institution with a proven reputation for customer service and transparency. Consider researching customer reviews and assessing their support channels to ensure reliable service.
- Hidden Charges: Be aware of any hidden fees, including annual fees, balance transfer charges, foreign transaction fees, or cash withdrawal charges. These can add up over time and affect the overall cost-effectiveness of the card.
- Credit Utilization: Maintain a balance within your credit limit to avoid high credit utilization ratios, which can negatively impact your credit score. Responsible use of credit is essential for maintaining financial health.
- Long-Term Financial Plans: Consider how the credit card fits into your overall financial strategy. Avoid accumulating unnecessary debt and choose a card that supports your long-term financial goals without adding financial strain.
Is this card suitable for shopping?
Yes, you can use it for shopping and earn reward points, but it’s better to use it for medical expenses to get more rewards.
Where is the Apollo SBI card accepted?
It’s accepted at over 24 million outlets worldwide and over 3.25 lakh outlets in India.
How can I track my credit card application status?
You can track it on the official SBI website by entering your application number.
Can I withdraw cash from ATMs with this card?
Yes, but there is a 2.5% fee, with a minimum charge of Rs. 300 per transaction.
How can I check my outstanding balance and credit limit?
You can check this by logging into your SBI Card account online or through the mobile app. You can also send an SMS with the last 4 digits of your card number to 5676791.
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