KrisFlyer SBI Card Apex
SBI Card has launched two new credit cards in collaboration with Singapore Airlines' KrisFlyer program - one is the KrisFlyer SBI Card, and the other is a premium version called the KrisFlyer SBI Card Apex. The Apex card comes with a high annual fee of ₹9,999 and is best suited for high-income individuals who frequently travel with Singapore Airlines. It offers great rewards, including 10 KrisFlyer Miles (5% reward rate) for every ₹200 spent on the Singapore Airlines Group, which includes Scoot, SilkAir, Kris+, and KrisShop.
However, this card has some drawbacks. It does not offer any discount on forex charges, applying the standard 3.5% rate on international transactions. Additionally, there are no renewal benefits after the first year, making it less valuable over time. This card is ideal for those who often fly with Singapore Airlines and can make the most of its first-year rewards.
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.
KrisFlyer SBI Card Apex - Main Features & Benefits
The SBI Card KrisFlyer SBI Card Apex is a premium travel credit card made for people who travel internationally often, especially with Singapore Airlines.
This card gives travel rewards, airport lounge access, insurance benefits, and bonus KrisFlyer Miles on spending. The joining fee of this card is ₹9,999, so it is mainly suitable for frequent travelers and high spenders.
Welcome Benefit
New users can get 10,000 KrisFlyer Miles after:
- Paying the joining fee
- Making the first transaction within 60 days
These miles can later be used for flight bookings and upgrades.
Reward Benefits
Users earn KrisFlyer Miles on different types of spending.
| Spending Type | Reward |
|---|---|
| Singapore Airlines Group spends | 10 Miles per ₹200 |
| International spending | 8 Miles per ₹200 |
| Other eligible spending | 6 Miles per ₹200 |
| Fuel, rent, utility & wallet payments | No rewards |
Singapore Airlines Group includes Singapore Airlines, Scoot, Pelago, Kris+, KrisShop. Miles are added after the statement cycle and usually reflect within 15 working days.
Simple Example
Suppose you spend:
- ₹40,000 on flight bookings
- ₹30,000 on international shopping
- ₹30,000 on other purchases
You can earn a good number of KrisFlyer Miles that can help reduce travel costs later.
Airport Lounge Benefits
This card offers free airport lounge access in India and abroad.
Domestic Lounge Access
- 2 free visits every quarter
- Total 8 visits every year
International Lounge Access
- 2 free visits every quarter
- Total 8 visits every year
Users also get a free Priority Pass membership for the first 2 years. After free visits are used, international lounge access will cost $27 plus taxes per visit.
Milestone Benefits
Users get extra rewards after reaching yearly spending limits.
| Annual Spend | Benefit |
|---|---|
| ₹5 Lakh | 10,000 Bonus Miles |
| ₹7.5 Lakh | KrisFlyer Elite Gold Membership |
| ₹10 Lakh | Extra 3,000 Miles |
KrisFlyer Elite Gold Benefits
After spending ₹7.5 lakh in a year, users get Elite Gold status for 1 year.
Benefits include:
- Priority check-in
- Priority boarding
- Extra baggage allowance
- Lounge access worldwide
- STAR ALLIANCE Gold benefits
This is useful for frequent international travelers.
Insurance Benefits
| Coverage | Amount |
|---|---|
| Baggage loss or delay | ₹1 Lakh |
| Fraud protection | ₹10 Lakh |
Important Things to Know
Before applying, keep these points in mind:
- Annual fee is high at ₹9,999
- Forex markup fee is 3.5%
- No rewards on utility and fuel payments
- Renewal benefits are limited
- Miles expire after 2 years
KrisFlyer SBI Apex Credit Card Review
The KrisFlyer SBI Apex Credit Card is best for people who travel internationally often and prefer Singapore Airlines. The card gives good travel rewards, airport lounge access, and premium travel benefits. However, the high annual fee and limited renewal benefits may not suit everyone.
If you are a frequent international traveler, this card can be a good option. For regular users, cashback credit cards may provide better value.
What are the one-time joining fee and yearly charges for the KrisFlyer SBI Card Apex?
The card comes with a joining and annual fee of ₹9,999 plus GST.
Does this card offer any insurance coverage?
Yes, it includes ₹3.5 crore air accident insurance, ₹1 lakh baggage delay coverage, and ₹10 lakh fraud protection.
How long are KrisFlyer Miles valid?
KrisFlyer Miles remain valid for two years from the date they are earned.
Can I transfer the balance from another credit card to this card and pay in EMIs?
Yes, you can move the pending amount from your other bank credit cards to the KrisFlyer SBI Card Apex and pay it back in easy monthly installments at a lower interest rate.
Can purchases made with this card be converted into EMIs?
Yes, any transaction above ₹2,500 can be converted into EMIs within 30 days of purchase.
Are lounge benefits available with this card?
Yes, you get two complimentary domestic airport lounge visits per quarter and a free Priority Pass membership for additional lounge access.
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