Landmark Rewards SBI Credit Card
The Landmark Rewards SBI Credit Card is a co-branded card from SBI Card and Landmark stores. It is perfect for people who often shop at Lifestyle, Home Centre, SPAR, Max, Baby Shop, and EasyBuy. With this card, you can earn 10 reward points for every ₹100 spent at Landmark stores, 5 points for every ₹100 on dining, movies, and international transactions, and 1 point for every ₹100 on other purchases. Points can be redeemed at Landmark stores at a rate of 1 RP = ₹0.25. New cardholders also get 2,000 bonus points (worth ₹500) when they pay the joining fee, and an additional 8,000 points if they spend ₹2 lakh in a year.
The card comes with an annual fee of ₹499 and is a great choice for people starting with credit cards or those who shop regularly at Landmark stores. It also offers fuel surcharge waivers and bonus points on renewal. While it doesn’t give travel perks or premium benefits, it is a simple and useful card for earning rewards on everyday shopping.
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.
Landmark Rewards SBI Credit Card – Features & Benefits
The Landmark Rewards SBI Credit Card is designed mainly for people who shop frequently at Landmark Group stores. If brands like Lifestyle, Home Centre, Max, SPAR, Baby Shop, and EasyBuy are part of your regular shopping, this card can help you earn extra value on your purchases. It is a co-branded credit card that focuses on shopping rewards rather than premium travel or lifestyle benefits.
Quick Features Overview (List View)
- Welcome benefit of 2,000 Reward Points worth ₹500
- Earn 10 Reward Points per ₹100 at Landmark Group stores
- Earn 1 Reward Point per ₹100 on other retail spends, excluding fuel
- Earn 5 Reward Points per ₹100 on dining, movies, and international spends
- Milestone bonus of 8,000 Reward Points on ₹2 lakh annual spending
- Renewal benefit of 2,000 Reward Points worth ₹500
- 1 percent fuel surcharge waiver up to ₹100 per statement cycle
- Reward value fixed at 4 Reward Points = ₹1
Welcome Benefit
When you pay the joining fee for the Landmark Rewards SBI Credit Card, you receive 2,000 Reward Points worth ₹500. These points are added to your card account within 30 days of the fee payment. This welcome benefit helps reduce the initial cost of the card and gives you value right from the start.
Reward Points on Landmark Group Stores
The biggest advantage of this card is the high reward rate at Landmark Group brands. For every ₹100 spent at Lifestyle, Home Centre, Max, SPAR, Baby Shop, and EasyBuy, you earn 10 Reward Points. This applies to both online and offline purchases, making it ideal for loyal Landmark shoppers.
Rewards on Everyday Spending
Apart from Landmark stores, the card also rewards you for other common expenses. You earn 5 Reward Points per ₹100 spent on dining, movie tickets, and international transactions. For all other retail purchases, except fuel, you earn 1 Reward Point per ₹100. This ensures you continue earning rewards on most of your spending.
Reward Value and Redemption Rules
Reward Points earned on this card have a clear value. Every 4 Reward Points are equal to ₹1. You can redeem these points mainly at Landmark Group stores or use them as statement credit, though statement credit may offer a lower value. If you redeem fewer than 1,000 Reward Points in one request, a redemption fee of ₹99 plus GST is charged.
Milestone Benefit on Annual Spending
If your total retail spending reaches ₹2 lakh in a year, you receive a milestone bonus of 8,000 Reward Points. These points are worth ₹2,000 and add around 1 percent extra value on your annual spends. This benefit is useful for people who use the card regularly for shopping.
Fuel Surcharge Waiver
The Landmark Rewards SBI Credit Card also offers savings on fuel purchases. You get a 1 percent fuel surcharge waiver on transactions between ₹500 and ₹3,000 at petrol pumps across India. The maximum waiver allowed is ₹100 per statement cycle. GST and other charges are not included in the waiver.
Renewal Benefit
When you pay the annual renewal fee, the card offers a renewal benefit of 2,000 Reward Points worth ₹500. These points are credited to your account within 30 days of the renewal fee payment, helping reduce the effective renewal cost.
Who Should Consider This Card
This card is best suited for people who frequently shop at Landmark Group stores and want simple rewards without complexity. It is not designed for travel benefits, airport lounge access, or premium lifestyle features.
Landmark Rewards SBI Credit Card Review
The Landmark Rewards SBI Credit Card is a practical choice for regular Landmark shoppers. It offers strong rewards on partner brands, simple milestone benefits, and basic savings on fuel. However, reward redemption options are limited, and the card lacks premium features. If Landmark stores are your main shopping destination, this card is worth considering.
Who should get the Landmark Rewards SBI Card?
This card is ideal for people who shop regularly at Landmark stores like Lifestyle, Max, Home Centre, SPAR, Baby Shop, and EasyBuy.
What rewards and benefits do I get?
You earn 10 points per ₹100 spent at Landmark stores, 5 points per ₹100 on dining, movies, and international spending, and 1 point per ₹100 on all other purchases. Points can be redeemed at Landmark stores at 1 RP = ₹0.25.
Are there any special bonuses?
Yes, you get 2,000 bonus points (worth ₹500) when you pay the joining fee. If you spend ₹2 Lakh in a year, you earn an additional 8,000 bonus points.
What is the cost and interest rate?
The card has a joining fee of ₹499 + GST. The monthly interest rate is 3.75%, which equals 45% per year.
Does this card offer travel perks or lounge access?
No, this card is focused on shopping and reward points, and it does not include travel benefits like airport lounge access.
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