Landmark Rewards SBI SELECT Credit Card
The Landmark Rewards SBI Card SELECT is a useful choice for people who regularly shop at Landmark brands like Lifestyle, Home Centre, SPAR, Max, Baby Shop and EasyBuy. It is an entry-level credit card with a lower annual fee of ₹1,499 plus GST. This makes it more affordable than the PRIME variant. The card does not offer premium benefits such as airport lounge access or golf facilities. Instead it focuses on providing savings through rewards on everyday shopping at Landmark stores.
The card offers rewards equal to 3.75 percent savings on purchases made at Landmark outlets. It also gives 2.5 percent value back on dining movie and international spends. The reward redemption ratio is 4:1 which means more points are needed for redemption compared to some other cards. Still the card gives good value because joining and renewal benefits are provided as reward points equal to the card fee. You can also earn 12,000 bonus reward points after meeting the yearly spending milestone. This card is best suited for loyal Landmark shoppers who want simple and steady savings.
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 SELECT Credit Card – Features and Benefits
The Landmark Rewards SBI SELECT Credit Card is ideal for people who frequently shop at Landmark Group stores. It helps loyal customers earn extra rewards on their spending, especially at stores like Max, Lifestyle, Home Centre, SPAR, EasyBuy, and Babyshop. If you shop often at these outlets, this card can help you save money and earn more points on your purchases.
How You Earn Reward Points
This card offers a tiered rewards system:
- Earn 15 reward points for every ₹100 you spend at Landmark stores.
- 10 Reward Points per ₹100 spent on dining, movies, and international transactions.
- 2 Reward Points per ₹100 spent on other eligible retail purchases.
- No Reward Points are awarded on fuel purchases.
This structure makes it most useful for regular shopping at Landmark stores and lifestyle or travel-related spending.
Reward Redemption
Reward points can be redeemed in multiple ways:
- 1 Landmark Reward Point (LMR) = ₹0.60
- 1 LMR = 2.4 SBI Card Reward Points
This gives cardholders flexibility to use their rewards for shopping, gift vouchers, or other options available through SBI.
Milestone Benefits
The card provides bonus points for high spending:
- Spend ₹3 lakh or more in a year on retail purchases and receive 12,000 bonus Reward Points.
Renewal Benefits
- On payment of the annual renewal fee, cardholders receive 6,000 Reward Points, equivalent to ₹1,500 in value at ₹0.25 per point.
- This effectively reduces the cost of owning the card and encourages continued use.
Who Should Choose This Card
This card is best suited for:
- Frequent Landmark shoppers looking to earn accelerated rewards.
- People who want a cost-effective card without lifestyle benefits like airport lounges or golf privileges.
- Customers who want bonus points on milestone spending and renewal fees.
For a more premium experience, you may consider the Landmark Rewards SBI PRIME Card. If you want a simple entry-level option, the standard Landmark Rewards SBI Card is also available.
Landmark Rewards SBI SELECT Credit Card Review
The Landmark Rewards SBI SELECT Credit Card is a simple and effective option for shoppers who want to maximize rewards at Landmark stores. With accelerated points for store purchases, bonus points for milestone spending, and points on renewal fees, it provides solid value without the cost of premium lifestyle features.
What is the annual fee for the Landmark Rewards SBI SELECT Card?
The card has a joining and annual fee of ₹1,499 + GST. You get reward points equal to the fee when you join or renew.
Which Landmark SBI credit cards are available?
SBI offers three Landmark co-branded cards: Landmark Rewards, Landmark Rewards SELECT, and Landmark Rewards PRIME.
Where can I earn rewards with this card?
You earn extra rewards at Landmark stores like Max, Lifestyle, SPAR, Home Centre, Baby Shop, and EasyBuy.
Is there a fee to redeem reward points?
Yes, redeeming less than 1,000 points incurs a fee of ₹99 + GST.
How much is one SBI Reward Point worth?
One reward point is worth ₹0.25.
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