SBI ELITE Credit Card

SBI ELITE Credit Card


Joining Fee: Rs 4999+GST
Annual Fee: Rs 4999+GST




0.5% to 4%



Payment Network

Visa, Mastercard, American Express


Milestone Rewards, Domestic Airport Lounge Access, International Airport Lounge Access, BookMyShow Offer, Fuel Surcharge Waiver

SBI ELITE credit card is a premium offering from SBI Card positioned just below the super-premium Aurum credit card. First launched in 2016, SBI ELITE credit card has seen its fair share of feature and rewards updates. ELITE card has a joining and annual fee of Rs 4999+GST and offers Rs 5000 gift voucher as a welcome benefit. The annual fee is waived on Rs 10 Lakh annual spends.


Joining FeeRs 4999+GST ~Rs 5899
Welcome BenefitRs 5000 Gift Voucher
Annual FeeRs 4999+GST ~Rs 5899
Renewal BenefitNone
Renewal Fee WaiverOn Rs 10 Lakh annual spend
SBI ELITE Credit Card Review: Fees

The gift vouchers options for the welcome benefit are Bata/Hush Puppies, Pantaloons, Aditya Birla Fashion, Shoppers Stop, and The annual fee spends for fee waiver are rather high at Rs 10 Lakh per year. It should have been around Rs 7-8 Lakh considering Aurum has annual fee waiver spends at Rs 12 Lakh.

LTF IndusInd Bank Credit Cards


Spend CategoryReward PointsReturn
Dining, Groceries and Departmental Stores10 RP/Rs 1002.5%
Other Spends (Except Fuel, Wallets)2 RP/Rs 1000.5%
SBI ELITE Credit Card Review: Rewards

Milestone Rewards

MilestoneTarget SpendsRewards
1Rs 3 Lakh10000 RP
2Rs 4 Lakh10000 RP
3Rs 5 Lakh15000 RP
4Rs 8 Lakh15000 RP
SBI ELITE Credit Card Review: Milestone Benefits

We get a total of 50000 bonus reward points on achieving annual spending of Rs 8 Lakh. With each RP equal to 25 paise, this will be a total benefit of Rs 12500 or 1.6% on Rs 8 Lakh spend. But, if you are aiming at getting the annual fee waiver then you need to spend another Rs 2 Lakh at the standard reward rate.

Rewards Redemption

The best option to redeem the reward points on the SBI ELITE credit card is to go for statement credit. Each reward point is equal to 25 paise in this case. You can call customer care to get this done or raise a request on the SBI Card mobile app.

SBI ELITE Credit Card BookMyShow Offer

SBI ELITE Credit Card BookMyShow Offer

We get 2 free movie tickets every month on BookMyShow. The per ticket discount price is capped at Rs 250. We have to pay additional fees any plus the convenience charges. There is no quota for this offer. This itself is a total benefit of Rs 6000 per year or Rs 3000 if we include BOGO offer available on other credit cards.

LTF IDFC First Bank Credit Cards

Club Vistara Silver Membership

SBI ELITE credit card also comes with Club Vistara Silver membership. This status is valid for 1 year from the date we apply for it and comes with its own set of benefits that we can use when flying on Vistara. You can get this benefit by calling SBI Card customer care or by activating it on the SBI Card mobile app/web portal.

  • Earn 9 Club Vistara Points for every Rs 100 spent on Vistara flights base fare
  • Extra 5 Kg baggage allowance
  • 1 class upgrade voucher on Tier Renewal

Trident Privilege Red Tier Membership

We also get Trident Privilege Red Tier membership status but don’t see it being useful unless you are already into staying in Trident hotels.

  • Trident Privilege Red Tier Membership and corresponding benefits
  • 10 points for every Rs 100 spent during the stay at participating hotels

Complimentary Airport Lounge Access

  • Domestic Airport Lounge Access: 8 complimentary visits per calendar year to airport lounges in India with Visa / Mastercard / American Express depending on variant (2 visits per quarter)
  • International Airport Lounge Access: 6 complimentary visits per calendar year to airport lounges outside India with Priority Pass (Max 2 visits per quarter)

Other Key Benefits & Charges

  • Fuel Surcharge Waiver: 1% waiver on all transactions. Maximum surcharge waiver of Rs 250 per month, per statement cycle.
  • Reward Redemption Fee: Rs 99+GST for gifts, statement credit and vouchers
  • Forex Markup: 1.99%+GST ~2.36%. International transactions also get 2 RP per Rs 100.
  • Interest Charges: 3.50% per month or 42% annually

Pros and Cons

Final Thoughts

SBI ELITE credit card does not offer rewards and benefits in line with the fee it charges. While the rewards are not high, the BookMyShow benefit does help in recovering some of the annual fee. We feel that SBI Card has set the fees and waiver conditions too high for the benefits it offers.

AU Bank Xcite Ace

But it is a good option for the first year as we get a welcome benefit that compensates the joining fee. You can always upgrade to some other SBI Card at the end of the first year if you want to.

Frequently Asked Questions

SBI ELITE Credit Card

Card Maven

Features and Benefits
Axis Bank My Zone Credit Card LTF
Share the Post:

Leave a Reply

Your email address will not be published. Required fields are marked *

Scroll to Top