Here’s an in-depth review of the SBI Card ELITE:
Overview:
The SBI Card ELITE is one of SBI’s premium offerings, aimed at those who seek luxury travel, shopping, and lifestyle benefits. It’s known for its comprehensive reward program, travel perks, and exclusive memberships, making it a favorite among high spenders or those who value luxury travel.
Key Features:
- Rewards Program:
- Base Rewards: Earn 2 reward points per ₹100 spent on all purchases.
- Accelerated Rewards: 5 reward points per ₹100 on dining, grocery, and departmental store spends, significantly boosting rewards in these categories.
- Travel Benefits:
- Lounge Access:
- Domestic: 2 complimentary visits per quarter to lounges in India.
- International: 6 complimentary visits per year via Priority Pass (max 2 per quarter).
- Forex Markup: Lower than average at 1.99% on international transactions, saving on foreign currency spends.
- Club Vistara Silver Membership: Complimentary, offering benefits like priority check-in, extra baggage allowance, and upgrade vouchers on Vistara flights.
- Lounge Access:
- Welcome and Milestone Benefits:
- Welcome Offer: E-gift voucher worth ₹5,000 from select brands on card activation.
- Milestone Rewards: 10,000 bonus reward points each on spending ₹3 lakh and ₹4 lakh annually, 15,000 points on ₹5 lakh, and another 15,000 on ₹8 lakh.
- Lifestyle and Other Perks:
- Movie Tickets: 2 complimentary movie tickets worth ₹250 each per month through BookMyShow.
- Golf Benefits: 4 complimentary rounds of green fees and one free lesson per month at select golf courses in India.
- Concierge Services: 24/7 concierge for travel, dining, and lifestyle assistance.
- Insurance: Accidental air death cover of ₹1 crore, lost card liability cover of ₹1 lakh.
- Fees:
- Joining/Renewal Fee: ₹4,999 + GST, waived if you spend ₹10 lakh annually in the previous year.
Pros:
- High Rewards on Daily Spends: The 5X reward points on dining, groceries, and departmental stores are very competitive.
- Extensive Travel Perks: The combination of domestic and international lounge access, low forex fees, and Club Vistara membership adds significant value for travelers.
- Movie Benefits: A unique perk that provides tangible savings for movie enthusiasts.
- Luxury Lifestyle Benefits: Golf and concierge services cater to a premium lifestyle.
Cons:
- High Annual Fee: Justified only if you can leverage all the benefits or meet the spending threshold for fee waiver.
- Changes in Benefits: Over time, some perks like memberships have been modified or discontinued, affecting long-term value.
- Exclusions: Not all spends qualify for reward points, like fuel, rent, and certain utility transactions.
User Feedback:
- Positive:
- Users often praise the card for its travel benefits, especially the lounge access and Club Vistara membership.
- The reward structure, particularly for dining and shopping, is well-regarded.
- The movie ticket benefit is a favorite among users.
- Negative:
- Some dissatisfaction regarding the high annual fee, especially if not all benefits are utilized.
- Feedback about changes in benefits or the need to spend significantly to waive the fee.
- Occasional issues with reward point crediting or redemption.
Conclusion:
The SBI Card ELITE is best for:
- Frequent Travelers: Especially those who fly Vistara or value lounge access.
- High Spenders: If you can meet or exceed the ₹10 lakh annual spend, the fee waiver makes the card more appealing.
- Movie and Dining Enthusiasts: Given the direct benefits in these areas.
However, to maximize the value of this card, you need to ensure your lifestyle aligns with its offerings. If you’re not a frequent traveler or don’t spend enough to offset the fee, you might find other cards more suitable. Always consider how recent changes might have impacted the card’s overall value before deciding.