SBI ELITE Credit Card

SBI ELITE Credit Card is a versatile premium card that delivers a wide range of benefits spanning various categories, including travel, entertainment, dining, rewards, and more. Cardholders have the opportunity to earn generous rewards on their everyday expenses, coupled with substantial milestone rewards, making it an attractive choice for those with high spending habits. The card also stands out by offering movie tickets worth Rs. 6,000 annually, which more than offsets the annual fee of Rs. 4,999. Additionally, it provides complimentary lounge access, boasts a low foreign exchange mark-up fee, and includes Club Vistara membership, further enhancing its appeal and advantages.

Key Highlights of SBI ELITE Credit Card

  • Joining Fees: Rs 4999 + Taxes (Welcome gift worth Rs. 5,000)
  • Annual Fees: Rs 4999 + Taxes
  • Should be an Indian resident
  • Must be salaried or self employed

Features and Benefits of SBI ELITE Credit Card

Explore the comprehensive benefits and features of the SBI Card Elite:

1. Welcome Rewards:
Upon acquiring the card, you’ll receive a warm welcome in the form of an e Gift Voucher worth Rs. 5,000. This voucher can be redeemed with leading travel and lifestyle brands, including Yatra, Bata/Hush Puppies, Aditya Birla Fashion, Pantaloons, and Shoppers Stop.

2. Travel Rewards:

  • Complimentary Silver-tier Club Vistara membership.
  • Complimentary Trident Privilege Red Tier membership.
  • Free access to lounges at both domestic and international airports.
  • Tablet plus membership, providing VIP upgrades and privileges at hotels in India and abroad (exclusive to AmEx variant holders).
  • Up to 15% discount on the best available rates at Lalit and F&B hotels (for MasterCard variant holders).
  • Up to 10% discount on Hertz car rentals and up to 35% off Avis car rentals (applicable to Visa variant only).
  • Access to exciting benefits across 900 luxury hotels (available exclusively for the Visa variant).

3. Golf Rewards:
MasterCard variant holders enjoy four complimentary green fee rounds, a 50% discount on all golf games, and a free golf lesson every month at select golf courses across India.

4. Movie Benefits:
Receive complimentary or discounted movie tickets every month, with an annual benefit cap of Rs. 6,000 and a maximum discount of Rs. 250 per ticket. This offer is valid for bookings of at least two tickets per month.

5. Dining Offers:
Enjoy enticing dining offers and deals, including discounts of up to 25%, at partnered restaurants. This feature is available exclusively for American Express variant cardholders.

6. Annual Fee Waiver:
Cardholders who spent Rs. 10 lakhs or more in the previous year are eligible for an annual fee waiver for the Elite Card.

7. Fuel Surcharge Waiver:
Benefit from a 1% fuel surcharge exemption on all fuel transactions ranging from Rs. 500 to Rs. 4,000. The maximum monthly benefit under this waiver is Rs. 250.

8. Reward Points:

  • Earn 2 Reward Points for every Rs. 100 spent on the card.
  • Enjoy 5X (10) Reward Points for every Rs. 100 spent at department stores, restaurants, and grocery stores.

SBI ELITE Credit Card Fees and Charges

1. SBI Elite Credit Card Fees (Annual):

  • Annual Fee: ₹4,999

2. Finance Charges:

  • Annual Interest Rate: 42% p.a

3. Renewal Charges:

  • Renewal Fee: ₹4,999

4. Late Payment Charges:

  • ₹400 for outstanding amounts between ₹501 and ₹1,000
  • ₹750 for outstanding amounts between ₹1,001 and ₹10,000
  • ₹950 for outstanding amounts between ₹10,001 and ₹25,000
  • ₹1,100 for outstanding amounts between ₹25,001 and ₹50,000
  • ₹1,300 for outstanding amounts exceeding ₹50,000

SBI ELITE Credit Card Eligibility

Here are the eligibility criteria for the card:

  1. Age Requirement: Applicants should fall within the age range of 18 to 70 years.
  2. Add-On Cardholder Age: Add-on cardholders must be at least 15 years of age.
  3. Citizenship: The applicant must be a resident citizen of India.
  4. Credit Score: To qualify for the card, a minimum credit score of 750 or higher is required.

Documents Required for SBI ELITE Credit Card

The following list of documents is indicative and may be subject to change or require additional documents when applying for the ELITE credit card:

  1. Identity Proof: Acceptable documents include PAN card, driver’s license, Aadhaar Card, and more.
  2. Proof of Income: You can provide evidence of income through documents such as your latest salary slips, Form 16, copies of income tax returns, and similar documents.
  3. Filled Application Form: Ensure you complete the credit card application form accurately and thoroughly.
  4. Form 60 or PAN Card Copy: Include either a copy of Form 60 or your PAN card as per the requirements.
  5. Proof of Residence: Acceptable proof of residence may include a Passport, Ration Card, electricity bill, Aadhaar Card, and similar documents.
  6. Colored Passport-Size Photographs: Include recent passport-size photographs of the applicant as required.

Please note that the specific document requirements may vary and are subject to change based on the terms and policies of the credit card issuer when applying for the ELITE credit card. It’s advisable to check with the issuer for the most up-to-date document requirements during the application process.

How to apply for SBI ELITE Credit Card

To apply for the SBI Elite Credit Card, you have the flexibility of choosing from various online and offline application methods.

For those who prefer the offline route, visit your nearest SBI branch and complete the paper application form. Ensure you have all the necessary documents on hand for submission.

If you opt for the online application process, follow these straightforward steps:

  1. Visit the official SBI Card website.
  2. Click on the ‘Apply Now’ option located under the ‘Apply’ tab.
  3. You’ll be directed to a page displaying all available SBI Credit Cards.
  4. To proceed with your SBI Card Elite application, select it and click on the ‘apply now’ button.
  5. Complete the online application form as prompted.
  6. After submission, one of the bank’s representatives will get in touch with you to discuss the subsequent steps.

Frequently Asked Questions (FAQs)

1. What is the SBI ELITE Credit Card?

The SBI ELITE Credit Card is a premium credit card offered by State Bank of India, designed to provide exclusive benefits and privileges to its cardholders.

2. How can I apply for the SBI ELITE Credit Card?

You can apply for the SBI ELITE Credit Card online through the official SBI website or by visiting a nearby SBI branch. The application process typically involves filling out a form and providing necessary documents.

3. What are the key features of the SBI ELITE Credit Card?

The SBI ELITE Credit Card offers features such as accelerated reward points, complimentary lounge access, milestone rewards, travel benefits, and exclusive discounts on various categories.

4. What is the annual fee for the SBI ELITE Credit Card?

The annual fee for the SBI ELITE Credit Card is subject to change, and it is advisable to check the latest fee structure on the SBI website or contact the bank directly.

5. How can I redeem the reward points earned on my SBI ELITE Credit Card?

You can redeem your SBI ELITE Credit Card reward points through the SBI Card website or mobile app. The redemption options may include merchandise, gift vouchers, or statement credit, among others.

6. Does the SBI ELITE Credit Card offer any travel benefits?

Yes, the SBI ELITE Credit Card provides travel benefits such as complimentary airport lounge access, travel insurance coverage, and discounts on travel bookings.

7. Are there any milestone rewards associated with the SBI ELITE Credit Card?

Yes, the SBI ELITE Credit Card often comes with milestone rewards, which could include additional bonus points, vouchers, or other exclusive benefits upon reaching specified spending milestones.

8. Can I convert my SBI ELITE Credit Card transactions into EMIs?

Yes, SBI ELITE Credit Cardholders can convert their high-value transactions into easy monthly installments (EMIs) through the bank’s designated process.

9. How can I check my SBI ELITE Credit Card statement online?

You can check your SBI ELITE Credit Card statement online by logging into your SBI Card account through the official website or mobile app. The statement will provide details of your transactions, outstanding balance, and payment due date.

10. What should I do if my SBI ELITE Credit Card is lost or stolen?
In case your SBI ELITE Credit Card is lost or stolen, it is crucial to immediately report the incident to the SBI Card Customer Care helpline. The bank will guide you through the process of blocking the card and issuing a replacement.