IndusInd Bank Platinum Credit Card vs SBI SimplySAVE Credit CardIndusInd Bank Platinum Credit Card vs SBI SimplySAVE Credit Card

IndusInd Bank Platinum vs SBI SimplySAVE Credit Card

The IndusInd Bank Platinum Credit Card presents itself as a commendable option, providing cardholders with significant rewards and advantages for their usual spending. Upon payment of the joining fee, cardholders are entitled to exclusive welcome benefits, such as a complimentary round of golf with a lesson and a Priority Pass Membership. Additionally, there are attractive deals available for booking movie tickets. Priced at Rs. 3,000, the rewards offered by the card justify its fee, and there is no charge for renewal.

On the flip side, the SBI SimplySAVE Credit Card targets individuals who are just stepping into the realm of credit cards. Offering a significant welcome bonus in the form of reward points, this beginner-friendly card boosts rewards for certain types of spending. Additionally, it grants a waiver on fuel surcharges and the potential for exemption from renewal fees depending on card usage. Although it doesn’t boast extravagant perks, the card’s Rs. 499 joining and renewal fee is quite fair.

Features and Benefits of IndusInd Bank Platinum Credit Card and SBI SimplySAVE Credit Card

IndusInd Bank Platinum Credit Card:

  1. Generous Rewards: Earn exclusive reward points while shopping with the IndusInd Bank Platinum Credit Card.
  2. Welcome Benefits: Experience special promotions and discounts from renowned brands included in the welcome perks.
  3. Value-Added Benefits: Avail complimentary golf games, lessons, and Priority Pass Membership.
  4. Joining Fee: Rs. 3,000
  5. Exclusive Brand Deals: Welcome benefits include deals on premium brands like Montblanc, Vero Moda, ALDO, and more.
  6. Gift Cards: Get Luxe Gift Cards, Amazon vouchers, Apollo credits, and more as perks upon joining.
  7. Travel Plus Program: Annual fee of Rs. 5,000 provides access to international and domestic lounges for US $27 per person per visit.
  8. Movie Ticket Offer: Buy one movie ticket, get one free on BookMyShow, up to 2 times a month (capped at Rs. 200 per ticket).
  9. Golf Privileges: Enjoy 4 complimentary golf games and 4 lessons per year.
  10. Insurance Benefits: Coverage against lost baggage, delayed baggage, loss of passport, air accidental death cover, etc.
  11. Fuel Surcharge Waiver: 1% waiver at all Indian fuel stations on transactions between Rs. 400 – Rs. 4,000.
  12. Points Redemption: Exchange your points for InterMiles rewards, redeemable with Partner Airlines like Vistara, or opt for cash rewards.
  13. InterMiles: 100 Reward Points = 100 InterMiles
  14. Vistara: 100 Reward Points equate to 100 CV Points without any repetition.
  15. Cash: 1 RP = Rs. 0.85
  16. Reward Points:
  • 1.5 Reward Points for every Rs. 150 spent.
  • 0.7 Reward Points for utility bill payments, insurance premiums, etc.

SBI SimplySAVE Credit Card:

  1. Entry-Level Card: Tailored to suit newcomers, the SBI SimplySAVE Credit Card is crafted to accumulate reward points effortlessly through everyday expenditures.
  2. Reward Points: Earn higher reward points on movies, dining, departmental store, and grocery spends.
  3. Basic Card: No value-added benefits, but suitable for those focused on earning rewards.
  4. Joining and Renewal Fee: Rs. 499
  5. Welcome Benefit: Earn 2,000 reward points by making purchases worth Rs. 2,000 within 60 days from receiving your card.
  6. 10x Reward Points: Earn 10x reward points on movie, dining, departmental store, and grocery spends.
  7. Milestone Benefit: Annual fee waived off on spending Rs. 1,00,000 in the preceding year.
  8. Fuel Surcharge Waiver: 1% waiver on transactions of Rs. 500 to Rs. 3,000 at all fuel stations (capped at Rs. 100 per cycle).
  9. Points Redemption: Redeem earned points for gift vouchers using either the www.sbicard.com platform or the SBI Mobile App.
  10. Outstanding Balance Payment: Utilize reward points to settle your credit card’s outstanding balance, where every 4 reward points equate to 1 rupee.

Contrast of Features: IndusInd Bank Platinum Credit Card Versus SBI SimplySAVE Credit Card

IndusInd Bank Platinum Credit Card:

1. Reward Rate:

  • Earn 1.5 Reward Points (RP) for every Rs. 150 spent.
  • Get 0.7 RP for every Rs. 150 spent on insurance and utility bill payments.
  • Enjoy a remarkable boost in reward points with a tenfold increase for every hundred rupees were used for various expenses including dining out, purchasing groceries, shopping at departmental stores, and watching movies.
  • Earn 1 RP for every Rs. 100 spent on all other expenses.

2. Redemption Options:

  • Exchange accumulated points for a range of choices accessible through the website.
  • In the InterMiles program, every 100 Reward Points equate to precisely 100 InterMiles, without any redundancy or repetition.
  • For Partner Airlines Vistara, 100 Reward Points = 100 CV Points.
  • Redeeming cash at a rate of 1 reward point equals 0.65 Indian Rupees.
  • Gift vouchers available on www.sbicard.com or SBI Mobile Application.
  • Pay outstanding credit card bills with reward points (4 RP = Re. 1).

3. Fuel Surcharge Waiver:

  • 1% waiver at all fuel stations in India.
  • Limited to 1% up to Rs. 100 per month.

4. Welcome Benefits:

  • Discover exclusive discounts on top-tier brands such as Montblanc, Vero Moda, ALDO, William Penn, and more.
  • Luxe Gift Cards, Amazon vouchers, and Apollo Pharmacy coupons are examples of popular gift card options available for purchase.
  • Receive 2,000 reward points by making purchases worth Rs. 2,000 within 60 days of receiving your card.

5. Dining & Movie Benefits:

  • Twice monthly, avail of BookMyShow’s ‘Purchase One, Get One Free’ deal.
  • 10x RP on dining expenses.

6. Milestone Benefit:

  • Not applicable.
  • Annual fee waiver on spending Rs. 1,00,000 in the previous year.

7. Lounge Access:

  • Unlimited lounge access by paying US $27 per person per visit.
  • Not applicable.

8. Joining Fee:

  • Rs. 3,000 + Applicable Taxes.
  • Rs. 499 + Taxes.

9. Renewal Fees:

  • NIL.
  • Rs. 499 + Taxes.

10. Eligibility:

  • Provided to individuals between the ages of 18 and 65 who are either employed with a regular salary or are self-employed.
  • It necessitates having a dependable source of income and a favorable credit history.

SBI SimplySAVE Credit Card:

1. Reward Rate:

  • Earn 1 RP for every Rs. 100 spent.
  • The SBI website and mobile app offer a diverse range of choices for redeeming rewards and benefits.
  • 100 Reward Points = 100 InterMiles.
  • 100 Reward Points = 100 CV Points for Partner Airlines Vistara.
  • Redeeming cash at 1 reward point equals 65 paise in Indian currency.
  • Gift vouchers and bill payment options available.

2. Fuel Surcharge Waiver:

  • 1% waiver at all fuel stations in India.
  • Limited to 1% up to Rs. 100 per month.

3. Welcome Benefits:

  • Exciting deals on premium brands.
  • Gift cards come in various forms such as Luxe, Amazon, and Apollo Pharmacy.
  • Receive 2,000 reward points by making purchases totaling Rs. 2,000 within 60 days of receiving your card.

4. Dining & Movie Benefits:

  • Enjoy BookMyShow’s ‘Buy One, Get One’ deal, available twice monthly!
  • 10x RP on dining expenses.

5. Milestone Benefit:

  • Not applicable.
  • Annual fee waiver on spending Rs. 1,00,000 in the previous year.

6. Lounge Access: Not applicable.

7. Joining Fee: Rs. 499 + Taxes.

8. Renewal Fees: Rs. 499 + Taxes.

9. Eligibility:

  • Issued to salaried or self-employed individuals.
  • Minimum salary of Rs. 20,000 per month for salaried individuals.
  • Age between 18-65 years for salaried individuals.
  • Minimum income of Rs. 20,000 (as per ITR) for self-employed individuals.
  • Age between 21-65 years for self-employed individuals.

Which credit card suits you best?

IndusInd Bank Platinum Credit Card:

  • Geared towards millennials who often indulge in shopping for trendy clothing and high-end products.
  • Ideal for individuals interested in accessing travel perks and lifestyle advantages without the burden of a substantial membership fee.
  • Offers complimentary Priority Pass membership and a free golf game and lesson.
  • Provides various insurance benefits.

SBI SimplySAVE Credit Card:

  • A simple credit card crafted specifically for individuals who are new to the world of credit cards.
  • Ideal for earning reward points on spending, especially on groceries, dining, movies, and departmental stores.
  • Offers higher reward points in these specific spending categories.

Comparison and Decision:

  • Cardholders need to assess individual rewards and benefits.
  • Consider personal needs and demands before choosing a card.
  • Ultimately, the decision rests with the customer based on their preferences and usage patterns.

Frequently Asked Questions (FAQs)

Q: Who are the intended users for the IndusInd Bank Platinum Credit Card and the SBI SimplySAVE Credit Card?

A: The IndusInd Bank Platinum Credit Card caters to millennials who enjoy shopping for clothing and luxury goods. Meanwhile, the SBI SimplySAVE Credit Card is tailored for individuals who are new to credit cards and seek a straightforward option.

Q: What are the key features of the IndusInd Bank Platinum Credit Card?

A: The IndusInd Bank Platinum Credit Card presents an array of travel and lifestyle perks at an affordable joining fee. Among its offerings are a complimentary Priority Pass membership, a round of golf with lessons included, and a range of insurance benefits to enhance your experience.

Q: What types of purchases yield increased reward points with the SBI SimplySAVE Credit Card?

A: The SBI SimplySAVE Credit Card offers elevated reward points for expenditures made on groceries, dining, movies, and departmental stores.

Q: Does the IndusInd Bank Platinum Credit Card have a joining fee?

A: The Platinum Credit Card from IndusInd Bank offers travel and lifestyle perks without burdening you with a hefty joining fee, making it ideal for individuals seeking such advantages.

Q: What is the primary focus of the SBI SimplySAVE Credit Card?

A: The SBI SimplySAVE Credit Card focuses on individuals who are new to credit cards and want to earn reward points on their spending.

Q: Can I compare the rewards and benefits of both cards before making a decision?

A: Yes, it is advisable to compare the rewards and benefits of the IndusInd Bank Platinum Credit Card and SBI SimplySAVE Credit Card based on your preferences and needs before making a decision.

Q: Are there any specific perks offered by the IndusInd Bank Platinum Credit Card for frequent travelers?

A: Yes, the IndusInd Bank Platinum Credit Card provides complimentary Priority Pass membership, offering access to airport lounges, making it beneficial for frequent travelers.

Q: How do I determine which credit card is suitable for me?

A: Consider your spending patterns, lifestyle, and preferences. Evaluate the rewards and benefits of each card to align with your specific needs.

Q: Are there any additional fees or charges associated with these credit cards?

A: It’s recommended to check the terms and conditions for each card to understand any applicable fees or charges. This information is usually available in the cardholder agreement.

Q: Can I get both the IndusInd Bank Platinum Credit Card and the SBI SimplySAVE Credit Card?

A: Certainly! Holding multiple credit cards is feasible, yet it’s vital to handle them with care and be mindful of your combined credit limit and financial capacity.

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