SBI AURUM Credit Card
The SBI Aurum Credit Card is a super-premium, invite-only card launched by SBI Card. It has a stylish black and gold metallic design and offers many high-end features. This card gives benefits like free access to international airport lounges, 24/7 concierge service, flight cancellation cover, and low foreign transaction fees. You also get free memberships to Club Marriott, Mint, and The Wall Street Journal. On reaching certain spending milestones, you can earn gift vouchers from brands like Tata CliQ Luxury, Apple, and Taj. It’s designed to compete with other premium cards like HDFC Infinia, ICICI Emeralde Private, and American Express Platinum.
This card is best for people who spend a lot using their credit card and want to enjoy luxury experiences. If you mostly use one card for all your major purchases, the Aurum card can be very rewarding. However, if you already use other credit cards for most of your spending, this SBI AURUM Credit Card may not give you full value. Before choosing it, it's a good idea to compare its features with other similar premium cards to see which one fits your needs best.
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.
What is the cash withdrawal fee on the SBI AURUM Credit Card?
You'll be charged 2.5% of the withdrawn amount or ₹500—whichever is more—when you use the card to withdraw cash.
Is it possible to apply directly for the SBI AURUM Credit Card?
No, you can't apply directly. This is an invite-only card offered to select customers.
What is the reward value offered on the SBI AURUM Credit Card?
You get 4 points for every ₹100 you spend. Since each point is worth ₹0.25, your total reward value is 1%.
How can I use the reward points from my SBI AURUM Credit Card?
You can redeem your points on the AURUM Rewards portal for things like flight bookings, hotel stays, or gift vouchers.
Which free memberships are included with the SBI AURUM Credit Card?
The card comes with complimentary memberships to Club Marriott, Mint, and The Wall Street Journal.
What is the currency conversion charge on international purchases?
A 1.99% fee is added on all foreign currency transactions made with the card.
What is the minimum income needed to qualify for the SBI AURUM Credit Card?
To be eligible, your annual income should be at least ₹40 lakh.
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