Here’s a comprehensive review of the SBI Prime Credit Card:
Overview:
The SBI Prime Credit Card is positioned as a premium offering by SBI, slightly below the ELITE card in terms of luxury but still offering a robust set of travel, shopping, and lifestyle benefits. It’s tailored for those who want a blend of rewards, travel perks, and exclusive memberships without the highest tier’s price tag.
Key Features:
- Rewards Program:
- Base Rewards: Earn 2 reward points for every ₹100 spent on all purchases.
- Accelerated Rewards: 10 reward points per ₹100 on standing instructions (e.g., utility bills), and 5 reward points per ₹100 on dining, grocery, movies, and departmental store spends.
- Travel Benefits:
- Lounge Access:
- Domestic: 8 complimentary visits per year (max 2 per quarter).
- International: 4 complimentary visits per year via Priority Pass (max 1 per quarter).
- Club Vistara Silver Membership: Complimentary for the first year, offering perks like priority check-in, extra baggage, and upgrades.
- Trident Privilege Red Tier Membership: Complimentary, providing benefits at Trident hotels.
- Lounge Access:
- Welcome and Milestone Benefits:
- Welcome Offer: E-gift voucher worth ₹3,000 from select brands on card activation.
- Milestone Rewards: ₹7,000 e-gift voucher on spending ₹5 lakh annually, ₹1,000 e-voucher on spending ₹50,000 quarterly.
- Lifestyle and Other Perks:
- Dining and Shopping Discounts: Various offers through partnerships, including 10% off at BookMyShow (up to ₹750 per month).
- Fuel Surcharge Waiver: 1% waiver on transactions between ₹500 to ₹3,000, max ₹100 per statement cycle.
- Insurance: Accidental air death cover of ₹50 lakh, lost card liability cover of ₹1 lakh.
- Fees:
- Joining/Renewal Fee: ₹2,999 + GST, waived on spending ₹3 lakh annually in the previous year.
Pros:
- Solid Reward Rate: Especially beneficial for standing instructions and daily spends like dining and groceries.
- Travel Benefits: While not as extensive as ELITE, still offers significant value with lounge access and complimentary memberships.
- Welcome and Milestone Rewards: Tangible benefits like vouchers add to the card’s appeal.
- Insurance: Offers decent protection for travel and card loss scenarios.
Cons:
- Annual Fee: The fee is considerable, and not everyone might reach the spending threshold for waiver.
- Limited International Lounge Access: Only 4 visits per year might not suffice for frequent international travelers.
- Changes Over Time: Some benefits, particularly memberships, have been modified or discontinued, potentially reducing long-term value.
- Exclusions: Rewards aren’t earned on categories like rent, fuel (except for the surcharge waiver), and certain utilities.
User Feedback:
- Positive:
- Users often commend the card for its reward points on daily purchases and the welcome voucher.
- Travel perks, especially for domestic travel, are appreciated.
- The milestone benefits provide a clear value proposition for those who can hit the spending targets.
- Negative:
- Some feedback revolves around the reduction in benefits over time, like the discontinuation of certain memberships.
- The annual fee is seen as steep by those not fully utilizing the card’s benefits.
- Occasional comments on customer service or issues with reward point crediting.
Conclusion:
The SBI Prime Credit Card is well-suited for:
- Regular Spenders: If you spend across dining, groceries, and movies, the card’s rewards can be lucrative.
- Domestic Travelers: With substantial lounge access in India.
- Those Who Can Meet Spending Thresholds: To leverage the fee waiver and milestone benefits.
However, if you’re looking for more extensive international travel perks or if you can’t comfortably hit the spending targets, you might consider other cards or complement this one with another in your portfolio. As with any card, check the latest terms as benefits can evolve over time.