SBI Prime Credit Card

Gaurav

The SBI Prime Credit Card is a lifestyle card offered by SBI Card, with an annual fee of ₹2,999. It’s similar to the SBI ELITE Credit Card, which has a higher fee of ₹4,999, but the Prime card offers many great benefits. These include free access to domestic and international airport lounges, discounts on hotel bookings, and movie tickets.

For rewards, you earn 2 Reward Points for every ₹100 spent with the card, and 10 Reward Points for every ₹100 spent on dining, groceries, and department store purchases. Since 1 Reward Point is worth ₹0.25, the effective reward rate is 2.5% on dining, groceries, and department stores, and 0.5% on other purchases.

The SBI Prime Card comes in three versions: MasterCard, American Express, and VISA. All versions offer similar rewards and benefits, though each network has its own exclusive perks. Keep reading to learn more about this lifestyle card from SBI Card.

Credit Card Detail
SBI Prime Credit Card
Joining Fee
Rs. 2999.00 +GST
Renewal Fee
Rs. 2999.00 +GST
Best Suited For
Travel | Shopping
Reward Type
Reward Points
Welcome Benefits
You can get a gift voucher worth Rs. 3,000 from brands like Yatra, Aditya Birla Fashion, Bata/Hush Puppies, Shoppers Stop, and Pantaloons.
Apply Now
Movie & Dining
Earn 5X Reward Points (10 points) on dining and movie expenses. Get up to 25% discount on dining bills at partner restaurants (only with the AmEx variant).
Domestic Lounge Access
8 complimentary domestic airport lounge visits per annum (max visits 2 per quarter)
Rewards Rate
10 Reward Points for every spend of Rs. 100 on groceries, dining, movie and departmental store, 2 RPs for every Rs. 100 spent on all other retail.
Golf
Complimentary 4 rounds of green fee and 1 complimentary golf lesson every month and also up to 50% off on golf games (With MasterCard Variant only)
Travel
N/A
Insurance Benefits
Air accident cover (worth Rs. 50 lakhs), fraud liability cover (worth Rs. 1 lakh) applicable from 48 hours prior to 7 days post reporting about the loss of the card to the bank
International Lounge Access
4 complimentary international airport lounge access every year with Priority Pass Membership (2 per quarter)
Reward Redemption
Redeem reward points on Sbicard.com for gift vouchers or for settling the card's statement balance.1 RP = Rs. 0.25
Interest Rates
3.5% per month (42% per year)
Spend-Based Waiver
Renewal fee is waived off if a minimum of Rs. 3 lakhs were spent in the previous year
Rewards Redemption Fee
Rs. 99 (plus applicable taxes) per redemption request
Cash Advance Charges
2.5% of the amount withdrawn or Rs. 500 (whichever is higher)
Foreign Currency Markup
3.50 +GST
Fuel Surcharge
You get a 1% fuel surcharge waiver on fuel transactions between Rs. 500 and Rs. 4,000, with a maximum waiver of Rs. 250 per month.
Product Details
  • Get a gift voucher worth Rs. 3,000 as a welcome offer when the card is issued.
  • Earn 10 Reward Points for every Rs. 100 spent on dining, movies, groceries, and departmental store purchases.
  • Earn 2 Reward Points for every Rs. 100 spent on other retail purchases.
  • Get a Rs. 7,000 e-Gift Voucher from Yatra or Pantaloons, with Rs. 5 lakh spent in a year.
  • Receive a Pizza Hut e-voucher worth Rs. 1,000 on spending Rs. 50,000 in a calendar quarter.
  • The renewal fee is waived if you spend Rs. 3 lakh or more in the last year.
  • Get 4 complimentary international airport lounge visits per year (max 2 per quarter).
  • Get 8 complimentary domestic airport lounge visits per year (max 2 per quarter).
  • Enjoy up to 15% discount on room rates and food at Lalit and F&B hotels (available only for MasterCard variant).
  • Get up to 10% off on Hertz car rental and up to 35% off on Avis Car Rentals (available only for Visa variant).
  • Enjoy exclusive benefits across 900 luxury hotels (only for the Visa variant).
  • Earn 20 Reward Points for every Rs. 100 spent on your birthday (max cap of 2,000 Reward Points on birthday spends).
Pros/Cons
Pros
This card offers eight free visits to domestic lounges and four to international lounges.
You also get a welcome gift of vouchers worth Rs. 3,000 for popular brands like Hush Puppies and Bata.
Cons
The card's reward rate is low, with 4 Reward Points equal to 1 rupee.
To waive the annual renewal fee, you need to spend Rs. 3 lakh, which is quite a lot.

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.

Add new comment

About text formats

Restricted HTML

  • Allowed HTML tags: <a href hreflang> <em> <strong> <cite> <blockquote cite> <code> <ul type> <ol start type> <li> <dl> <dt> <dd> <h2 id> <h3 id> <h4 id> <h5 id> <h6 id>
  • Lines and paragraphs break automatically.
  • Web page addresses and email addresses turn into links automatically.