Lifestyle Home Centre SBI Card Prime
The Lifestyle Home Centre SBI Card PRIME is a credit card made for people who love shopping and dining. You get 15 reward points for every ₹100 you spend at Lifestyle, Home Centre, Max, and Spar – whether online or in stores. For other shopping, you earn 2 points per ₹100, and for dining or movies, you get 10 points per ₹100. The card also gives you free access to domestic airport lounges. The joining fee is ₹2,999 plus GST, and in return, you get many lifestyle and reward benefits.
When you renew the card, you receive 12,000 reward points (worth ₹3,000), which are added to your account within 30 days. You can use these points for cashback, where 4 points = ₹1. There's also a 1% fuel surcharge waiver at all petrol pumps in India for fuel purchases between ₹500 and ₹4,000. You can also get extra cards for your family members. Overall, this card is a good choice if you enjoy shopping and want to earn rewards on your everyday spending.
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.
When will I receive my welcome reward points?
You will receive 12,000 reward points as a welcome benefit within 30 days after paying the joining fees.
How many reward points will I earn on movie transactions?
You can earn 10 reward points for every ₹100 spent on movies and dining.
Do I get travel benefits on this card?
Yes, you get 8 complimentary visits to domestic airport lounges, with a maximum of 2 visits per quarter.
Do I get the facility to add my family members to this card?
Yes, you can add your immediate family members to the card without any additional charges.
What are the finance charges for this card?
The finance charge is 3.50% per month.
Are reward points applicable to offline transactions as well?
Yes, reward points are earned on both online and offline purchases at all Landmark stores.
When will I get the renewal benefits on the renewal fee?
The renewal bonus points will be credited to your account within 30 days after paying the renewal fee.
What is the income requirement to avail of this card?
The income requirement depends on the applicant, but having a good credit score (preferably above 650) is necessary to avail of this card and enjoy its benefits.
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