Central is a chain of fashion and lifestyle departmental stores from Future Group. Central and SBI Card launched a co-branded credit card in 2017. The card offers good benefits for purchases at Central stores and decent rewards for other spends as well. Here is a review of the Central SBI Select+ credit card.
Fees and Charges
The welcome benefit is equivalent to the joining fees excluding GST. There is no renewal fee waiver but we get reward points if we have spent Rs 1.25 Lakh in previous membership year.
- u003cstrongu003eJoining/Renewal Fee:u003c/strongu003e Rs 2999 plus taxes
- u003cstrongu003eWelcome Benefit: u003c/strongu003eRs 3000 Central Gift Voucher and three Rs 500 discount coupons (min purchase Rs 2000)
- u003cstrongu003eRenewal Benefit:u003c/strongu003e 12000 RP on spending Rs 1.25L in a membership year u003cstrongu003e~Rs 3000 Valueu003c/strongu003e
Rewards
Central SBI Select+ credit card earns ‘Select Points’ for spends. Each point equals 25 paise. Redemption can be done at Central stores to pay for shopping.
- u003cstrongu003eCentral Store Spends:u003c/strongu003e 5% Return (20 RP/Rs 100)
- u003cstrongu003eDining and Movies Spends: u003c/strongu003e2.5% Return (10 RP/Rs 100)
- u003cstrongu003eOther Retail Spends (excluding Fuel):u003c/strongu003e 0.5% Return (2RP/Rs 100)
Milestone Rewards
This is one of the confusing things about this card. The milestone rewards value reduces as we spend more on this card. Strange!
- 6000 RP for Rs 1.5 Lakh spend u003cstrongu003e~1% returnu003c/strongu003e
- 10000 RP for Rs 3 Lakhs spend u003cstrongu003e~0.83% returnu003c/strongu003e
- 16000 RP for Rs 6 Lakhs spend u003cstrongu003e~0.67% returnu003c/strongu003e
My View
The Central SBI Select+ is another regular co-branded credit card. While co-branded cards are good in some cases, this one does not offer much. The 5% return for Central spends is okay at best but definitely not worth paying a Rs 3K fees for.
Central SBI Select+ Credit Card
