SBI Miles Credit Card
The SBI MILES Credit Card, one of three new offerings from SBI, is designed to provide a variety of benefits, especially for those who travel frequently. With an affordable joining and renewal fee of Rs. 1,499 plus GST, this card rewards you with Travel Credits, enhancing your travel experiences. As a welcome bonus, when you spend Rs. 30,000 within the first 60 days of receiving the card, you’ll earn 1,500 Travel Credits. It’s a simple and user-friendly credit card that’s perfect for regular travelers looking for a hassle-free rewards system.
The SBI Card MILES allows you to earn 2 Travel Credits for every ₹200 spent on travel-related purchases, and 1 Travel Credit for every ₹200 spent on other expenses. These Travel Credits can be redeemed for air miles, hotel points, travel bookings, or various products from the catalog, giving you flexibility in how you use your rewards. Additionally, the card offers other perks, such as four complimentary domestic lounge accesses each year, a complimentary Priority Pass Membership for international lounge access, and a waiver on fuel surcharges, among other advantages.
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.
What are the main features of the SBI Miles Credit Card?
The SBI Miles Credit Card comes in three types: Miles, Miles Prime, and Miles Elite. It gives you extra rewards when you spend on travel, and you can convert your points into air miles or hotel points at a 1:1 ratio with various airlines and hotel partners.
What travel benefits are included with the SBI Miles Credit Card?
The card offers a variety of travel benefits, including a free Priority Pass Membership (which gives you access to airport lounges worldwide), the ability to visit domestic and international airport lounges, lower fees for foreign currency transactions, waivers on fuel surcharges, and the chance to earn Travel Credits on every purchase.
How do I apply for the SBI Miles Credit Card?
To apply for the card, you can either visit the SBI Card website or go to an SBI branch near you. You will need to fill out an application form with your personal details and financial information, submit the required documents, and then wait for the bank to approve your application.
How do I receive the Travel Credits?
The Travel Credits you earn are automatically added to your SBI Card account. You can find the details of these credits in the Rewards section of your account.
How can I track the status of my application or get assistance?
You can check the status of your application or get help by visiting the SBI website or calling their customer support. Additionally, you can send an SMS to 5676791 from your registered mobile number for updates.
When will I receive my Travel Credits?
If you earn Travel Credits from the Welcome offer, they will be added to your account within 15 working days after you reach the required spending threshold. For regular and accelerated Travel Credits, they will appear in your account within 10 days of making the actual purchase.
What happens to my Travel Credits if my card is replaced or renewed?
If your SBI Miles Credit Card is replaced or renewed due to loss, theft, or expiration, any Travel Credits you’ve earned will be transferred to your new card. This ensures you don’t lose your rewards when getting a new card.
Do Travel Credits expire?
Yes, Travel Credits are valid for 2 years from the date they are awarded. Be sure to use them before the 2-year period ends to avoid losing them.
What happens to my SBI Miles Credit Card if I switch to another SBI Credit Card?
If you decide to switch to another SBI Credit Card, any Travel Credits earned on your SBI Miles Credit Card will be changed into Reward Points. This usually happens within two working days after the switch.
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