SBI Card has partnered with Landmark Group to launch retail co-branded credit cards. There are three cards – Lifestyle Home Centre SBI Card, Max SBI Card and Spar SBI Card. The partners for these cards are the Landmark Group brands – Lifestyle, Home Centre, Max and Spar. Each of these cards are available in three variants – base, SELECT and PRIME. In this post, we will review the base Spar SBI credit card and its features. Spar is a chain of hypermarkets located in most of the metro cities.
Fees and Charges
The Spar SBI credit card gets a renewal benefit equal to the renewal fee. So there is no mandatory spend required on this card. In this case, there is no harm in holding this card. The only effective fee we end up paying every year is Rs 90 for the taxes component.
|Joining/Renewal Fee||Rs 499 plus taxes|
|Welcome/Renewal Benefit||2000 reward points ~ Rs 500|
|Type of Spend||Reward Points||Return Rate @25 per RP|
|Online & Retail Landmark Stores (Lifestyle, Home Centre, Max and Spar), Dining & Movies||5 RP/Rs 100||1.25%|
|Other Spends||1 RP/Rs 100||0.25%|
The benefits of this card are more in the milestone rewards. On cumulative spends of Rs 2 Lakhs at Landmark Stores, we get a total return of Rs 3.25% which is good!
|Annual Spends at Landmark Stores||Bonus RP||Additional Return|
|Rs 2 Lakhs||8000||2%|
Accumulated reward points can be redeemed across Lifestyle, Home Centre and Max stores.
The Spar SBI credit can be useful for those festive spends like a wedding or home renovation. We can spend across all Landmark stores to get good rewards. If one does not have access to a super premium card like Infinia and Ultimate, this card gives a benefit of 3.25%. The other point in favour of this card is the renewal benefit that makes up for the renewal fee.
In summary, a decent entry-level card that you can get if you have bulk spends at Landmark stores! For all other cases, we can avoid this and go for some other good cashback credit card.
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Spar SBI Credit Card