SBI Card Miles Elite
SBI has launched three "Miles" credit cards for travelers, offering great rewards on travel-related purchases. You can earn Travel Credits with these cards, which can be used for things like Airmiles, Hotel Points, and booking travel services. The SBI Miles Elite Credit Card is the top-tier option, with a joining fee of ₹4,999. However, you get a welcome bonus of 5,000 Travel Credits if you spend ₹1 lakh within 60 days of receiving the card. These credits can be redeemed with partner airlines and hotels at a 1:1 ratio.
The Miles Elite Credit Card also gives you up to 8 free visits to domestic airport lounges in India. It’s perfect for international travelers too, offering a low forex fee of 1.99%, Priority Pass membership for worldwide lounge access, and free access to international lounges.
As a travel-focused card, it provides useful insurance benefits, like coverage for air accidents and lost baggage. The Miles Elite Credit Card is packed with features that can make your travel experience more comfortable and rewarding.
Rewards and Benefits
Fees & Charges
What should you consider before applying for a credit card in India?
Before applying for a credit card in India, consider the following factors:
- Eligibility Criteria: Check the age, income, credit score, and employment status requirements set by the bank or financial institution.
- Credit Score: A higher credit score increases your chances of approval and may result in better offers. Ensure your credit score is in good standing.
- Interest Rates and Fees: Compare annual percentage rates (APR), processing fees, late payment penalties, and foreign transaction fees. These can vary significantly between cards.
- Rewards and Benefits: Look for cards that offer rewards, cashback, discounts, or other perks that align with your spending habits.
- Credit Limit: Make sure the credit limit offered is in line with your financial needs. Avoid over-borrowing, which can lead to high-interest charges.
- Repayment Terms: Understand the repayment options, minimum payment amount, and due dates. Consider how easily you can manage timely payments to avoid interest accumulation.
- Card Type and Features: Choose a card type (e.g., standard, premium, travel, etc.) based on your requirements. Some cards offer more benefits for specific categories like travel, shopping, or dining.
- Bank’s Reputation: Opt for a bank with a good track record of customer service and transparency. Read reviews and consider their customer support accessibility.
- Hidden Charges: Be aware of any hidden fees, such as annual fees, balance transfer charges, and cash withdrawal fees.
- Credit Utilization: Ensure you can manage your spending within the credit limit to maintain a healthy credit utilization ratio, which impacts your credit score.
- Long-Term Financial Plans: Think about how the credit card will fit into your long-term financial goals and avoid accumulating unnecessary debt.
Is the SBI Card Miles Elite a contactless credit card?
Yes, the SBI Card Miles Elite is a contactless card powered by Mastercard technology. It gives great benefits on spending, rewards, and lounge access, making it ideal for frequent travelers.
How does the SBI Card Miles Elite work?
To use the card, look for the contactless symbol. Simply hold the card close to the reader (less than 4 cm) after the cashier enters the amount. No PIN is needed for transactions up to ₹5,000. A beep or green lights will confirm the transaction.
What happens if I switch from SBI Card Miles Elite to another SBI Credit Card?
If you switch to another SBI Credit Card, your Travel Credits will be turned into Reward Points and moved to your SBI account within two working days.
What happens to my reward points if I transfer to SBI Card Miles Elite from another SBI Card?
If you move to the SBI Card Miles Elite from another SBI Card, the reward points from your old card won’t be transferred to the new one.
How can I check my application status or get help with the SBI Miles Credit Card?
o track your application status or get assistance, you can visit the SBI website, contact customer service, or send an SMS to 5676791 from your registered mobile number.
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