How does it feel when your annual charge is waived off, and there is plenty of rewards available along with it? Nice… right? I forgot to mention about the 14 lounges access every year and 2 free movie tickets. And yes, reward points are just awesome. Apart from these, there are club Vistara membership points and Trident red tier membership – whole life changed!! Starting with today’s topic, “SBI elite powered by MasterCard credit card review” let’s check it out.
Key-Highlights
In this article
- The first year annual fee is waived off.
- Attractive reward points – the transaction goal is itself of 4 types.
- 2 free movie tickets in a month.
- Top-notch security.
- 24 x 7 hours of concierge service.
Rewards
- Remember that 4 reward points stand for Rs 1, which may seem to be very low to someone!
- You can redeem the rewards by selecting your favourite brands at the rewards catalogue provided by SBI.
How To Redeem The Rewards?
There are three options available for doing so:
(i) You may do it manually by visiting SBI’s official website and then select your preferred brand.
(ii) You can visit the partner merchant store and redeem the rewards.
(iii) You can also call the helpline number (39020202) to redeem the reward points.
But remember, multiple of 2000 points can be redeemed as a default.
Features And Benefits
1. Rewards program: You probably have noticed the reward section and found that the reward rates are quite good, and just anyone will be attracted to the rewards.
2. Airports and lounge access: Under the Mastercard lounge program, you can have 8 domestic airport lounge access and 6 international lounges at 850+ airports across the world.
3. Free movie tickets: Using this credit card, you can avail of 2 free movie tickets worth Rs 500 if you book movies from BookMyShow.com every month.
4. Global acceptance: Any outlets where VISA or Mastercard is accepted, your SBI Elite card is also accepted there – which means you can carry and use your card wherever you want!
5. Security: They have made security as a top-most priority. This card comes with a built-in chip that provides greater security and protection against the fraudulent transaction.
6. Trident membership: If you enroll yourself on Trident privilege red tier membership, you will get 1000 welcome points. And you will get 1500 reward points for staying the first night at the hotel and additional 1000 hotel credits if you stay an additional night.
7. Club Vistara membership: You will also get a Vistara club membership with an upgrade voucher. On booking flights from Vistara.com, you will be awarded 9 club Vistara points for every expense value of Rs 100.
8. No liability over losing card: If you lose this card for any reason, immediately report to the bank within 24 hours. So, you will have no liability over any fraudulent transaction.
9. 24 x 7 hours of concierge service: From your home, you can get enough guidance regarding restaurant booking, table reservation, flight booking, train bookings, international gift deliveries and much more.
Fees And Charges
Who should opt for this card?
See, it is a premium card – so there is nothing to be wondered about the charges. But the first question you should ask yourself – whether you can afford this card’s fees or not. Yes, that is the most important question. If you can afford – then the matter is logical because now you have more options to choose for. If you are more inclined towards saving, you can go for simply click and simply save credit card also.
As I have made a comparison with similar cards, you may notice that this card is one step ahead of others. I agree that there is some disadvantages, but no card is perfect and free of minus points. So, if you can adjust yourself to those difficulties there is no reason for not applying for this card. If you want an alternative you can always go for prime credit card.
Why this card is better than other cards?
Eligibility criteria And Documents Required
- You have to be an Indian.
- Being 18 years old makes you eligible to overcome the age constraint.
- And, of course, a good source of income is judged as a top priority.
- They also look for good credit scores.
Documents Required
Here are the list of the following documents ->
- Identity proof– you can choose any of the following- PAN card, AADHAR card, Voter Id slip as proof.
- Address/residence proof– An address proof is also required. You can choose any of the following-ration card bills of the telephone exchange, gas connection bill, electric bill, or anything.
- Income proof – Another important document is income proof. You can show the Latest pay slip of three months, Form 16, or anything as income proof.
Cards similar to this card
How to apply for this card?
- Go to the official website www.sbicard.com. There will be some questions which require some details. Fill very carefully.
- On the second step, some other personal details are used to verify you have to be filled – mobile number, PAN number, pin code, Net annual income, and much more. You should better have all documents with you to see and copy the details side by side.
- Fill up everything in the form. Point to be noted, your application will be cancelled if you provide any false information in the form. And yes, before submitting, read all the terms and conditions carefully.
Not everything about the application process is required for elaboration because you have to fill it according to your condition and details. Fill in the form and enter the next step by clicking on a button that may appear at the bottom of the page. Be very careful while giving information – because the application process will be rejected if you provide false information.
Frequently Asked Questions
1. What should I do if my card is lost/stolen?
If you lost your card or you believe that your card has been stolen by somehow, you can report the bank immediately so that they can temporarily block your card, and you will have no responsibility after that.
2. Can I use the card if I find it again?
No. Don’t make that mistake ever! Destroy the card completely in any way – burning, cutting whatever is best. Specially destroy the chip that is embedded with it.
3. What is the credit limit of this card?
Ans: This solely depends on the bank. You may see that two persons having the same credit card, but their credit limit is different. Because card’s name does not determine credit limit – rather, they depend on a person’s income, usage pattern, credit score and much more.
4. How to redeem the rewards?
(i) You may do it manually by visiting SBI’s official website and then select your preferred brand.
(ii) You can visit the partner merchant store and redeem the rewards.
(iii) You can also call the helpline number (39020202) to redeem the reward points.
How To Pay Bills?
You have many options available to do so.
- You can do so by using the mobile app available on both the play store for android and the iOS store on the iOS platform. Download and install from there.
- Log in to your account by using your ID and password.
- Click on the option “Pay Now”, which may available at the bottom of the page. And then enter the registered mobile number and email ID.
- Please select the amount you want to pay and the payment option along with it.
After a successful attempt, you will see that the amount is debited from your account, and a confirmation message will be sent to both your mobile number and your mail ID.
The disadvantages of using this card are that the priority pass membership is given to you but not for an indefinite time – only 2 years. I know that you will be given the annual fee in the first year – but it is also true that there are very limited number of brands available to choose from for your reward voucher. The whole thing is like messed up with each other and everything you have to do in a hurry!
Final Talk
After reading the whole article, you can understand what I meant to say. Neither you can neglect the disadvantages, nor you can deny by seeing the advantages only. What you can do is – you can tally the rewards/fees ratio and then make a decision.
It is very difficult to explain each and every detail of a card in a single article – still I tried to give my best to present the most important and main things that you should know. So, see you in another article.
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