SBI Shaurya Credit Card
The SBI Shaurya Credit Card is specially made for people in the Indian Armed Forces. It has a low joining and annual fee of Rs. 250, but you get 1,000 reward points as a welcome gift—worth the same as the joining fee. You earn up to 5 reward points for every Rs. 100 you spend, and these points can be used to buy products, gift vouchers, or pay your card bill. The card also gives you a 1% fuel surcharge waiver (up to Rs. 250 per month) and free personal accident insurance, which adds extra value and safety.
You can save even more by getting the annual fee waived if you spend a certain amount in a year. This makes the card almost free if you use it regularly. If you want more benefits and higher rewards, SBI also offers the Shaurya Select Credit Card, which has better features and no joining fee but a higher yearly charge. Other banks like Axis Bank and PNB also offer similar cards for defense staff, such as the Axis Bank Pride Platinum Card and the PNB Rakshak Rupay Platinum Card.
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.
Can I use reward points to pay my credit card bill?
Yes, you can use your reward points to reduce your outstanding card balance. Each point is worth 25 paise.
Is there a fee to get an extra card for a family member?
No, you can get a free add-on card for your family member with the SBI Shaurya Credit Card.
Does this card give extra reward points on specific spends?
Yes, you get 5 reward points for every Rs. 100 spent on groceries, dining, department stores, and CSD purchases.
Is there a fuel surcharge waiver with this card?
Yes, you save 1% on fuel surcharge for transactions between Rs. 500 and Rs. 3,000. The maximum savings per month is Rs. 250.
Do I have to pay the annual fee every year?
No, if you spend over Rs. 50,000 in a year, the Rs. 250 annual fee is waived.
What is the charge for withdrawing cash using this card?
You’ll be charged 2.5% of the cash amount or Rs. 500, whichever is higher.
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