Reliance and SBI Card have come together to launch two new co-branded credit cards. Reliance SBI Card PRIME is the top variant and comes with a joining and annual fee of Rs 2999+GST. We get 10 reward points per Rs 100 spent at eligible Reliance Retail stores with this card. Reliance SBI Card PRIME also offers milestone benefits worth up to Rs 5000 as Reliance Retail vouchers. The annual fee is waived on spends of Rs 3 Lakh in a card membership year.
Fees
| Joining Fee | Rs 2999+GST ~Rs 3539 |
| Welcome Benefit | Rs 3000 Reliance Retail Gift Voucher Additional discount vouchers worth Rs 11,999 |
| Annual Fee | Rs 2999+GST ~Rs 3539 |
| Annual Fee Waiver | On annual spends of Rs 3 Lakh |
| Renewal Benefit | None |
You can redeem the welcome gift of Reliance Retail vouchers at this list of outlets.
Discount Offers in Welcome Benefit
We get an one-time joining benefit in the form of instant discount vouchers that can be used on different Reliance Retail brands.
| Brand | Discount Voucher Value | Min Purchase |
|---|---|---|
| Jio Mart | Rs 250 | Rs 1250 |
| AJIO | Rs 750 | Rs 3999 |
| Reliance Trends | Rs 1000 | Rs 3999 |
| Centro | Rs 1000 | Rs 6000 |
| Fashion Factory | Any Denim@999 | NA |
| Coverstory | Rs 2500 | Max redemption at 10% of bill value |
| Zivame | Rs 500 | Rs 1999 |
| Urban Ladder | Rs 2000 | Rs 49,999 (Only Diamond Jewellery) |
| Netmeds | Rs 500 | Rs 1999 |
Rewards
| Spend Category | Rewards | Value |
|---|---|---|
| Reliance Retail Outlets | 10 RP/Rs 100 | 2.5% |
| Dining, Movies and Domestic Airlines | 5 RP/Rs 100 | 1.25% |
| International Spends | 5 RP/Rs 100 | 1.25% |
| Other Retail Spends | 2 RP/Rs 100 | 0.5% |
| Fuel, Rent and Wallet Spends | No Rewards | NIL |
Reliance Retail has a huge number of brands under its umbrella. Most of them are eligible for the 2.5% reward rate. Your usual brands like Fresh, Smart, JioMart, Digital, AJIO, Trends and more are there in the list. You can check the complete list of participating brands in this document.
Milestone Rewards
The base reward rate at 2.5% at its own stores is quite low for a co-branded credit card with an annual fee of Rs 2999. But, we do get extra milestone benefits that bring up the reward rate to a good level.
If you spend Rs 3 Lakh at Reliance Retail stores, you get the annual fee waiver and gift vouchers worth Rs 8750. So, the total return including base rewards comes to 5.4%.
| Gift Voucher Value | Target Spends | Cumulative Value |
|---|---|---|
| Rs 1500 | Rs 75,000 | 2% |
| Rs 2250 | Rs 1.5 Lakh | 2.5% |
| Rs 5000 | Rs 3 Lakh | 2.9% |
Discount Offers with Reliance SBI Card PRIME
We also have instant discount offers on Reliance SBI credit card at some of the brand stores. These are over and above the rewards.
| Brand | Offer | Maximum Benefit |
|---|---|---|
| Reliance Trends | 10% instant discount | Rs 750 per month |
| Ajio | 5% instant discount | Rs 1000 per month on orders above Rs 2999 |
| Centro | 10% instant discount | Rs 2000 per month |
| Zivame/Clovia | 5% instant discount | Rs 1000 per month |
| Coverstory | 10% instant discount | Rs 1000 per month |
| Jio Mart | 5% cashback | Rs 1000 per month |
Including the standard rewards, milestone benefits and the 5% cashback, we get a benefit of 10%+ on Jio Mart groceries round the year. This is pretty decent and will be a good benefit for many as Jio Mart has a reach in many cities.
Rewards Redemption
Each reward point is worth 25 paise. We can redeem the reward points for Reliance Retail gift vouchers and use them at the Reliance Retail outlets for purchases.
BookMyShow Offer on Reliance SBI Card PRIME
We do not see many offers for solo movie goers. But, here’s one on the Reliance SBI Prime credit card. We get 1 free movie ticket capped at Rs 250 per month with this card. This offer does not have any quotas. So, you can book it any day of the week at any time.
Complimentary Airport Lounge Access
- Domestic Airport Lounge Access: 2 complimentary visits/quarter to airport lounges in India. Check this list to see list of eligible airport lounges.
- International Airport Lounge Access: 4 complimentary visits/year to airport lounges outside India.
Other Key Benefits & Charges
- Fuel Surcharge Waiver: 1% fuel surcharge waiver for transactions between Rs 500 and Rs 4000. Maximum waiver capped at Rs 100 per statement cycle.
- Rent Payment Charges: Rs 199+GST
- Foreign Currency Markup: 3.5%+GSTÂ ~4.13%
- Interest Rate:Â 3.5% per month or 42% annually
Is the Reliance SBI Card PRIME worth it?
Retail player co-branded credit cards can be an excellent option for loyal customers. We have many good options now like Tata Neu Infinity HDFC Bank credit card, Amazon Pay ICICI Bank credit card and Flipkart Axis Bank credit card. Reliance SBI Card PRIME joins this growing league. For its annual fee of Rs 2999+GST, it is a good option if you are into the Reliance Retail ecosystem of brands. Including the milestone rewards, we get 5%+ rewards on Reliance Retail spends. Plus, we also get extra instant discount/cashback offers on select Reliance Retail brands.
Reliance SBI Card PRIME
