Credit Card Reviews

Central SBI Select Card Is A Shoppers Delight⎢Card Review

Central SBI Select Card Is A Shoppers Delight⎢Card Review

Review of the Central SBI Select Card

State Bank of India or SBI, the second largest credit card issuer in India, has been on a path of aggressive expansion by way of partnerships and innovative financial solutions. Sensing the surge in digital transactions post the demonetization move by the central government, SBI has entered into business partnerships with some big guns to cash in on the cashless frenzy gripping the nation. They had already partnered with the retail giant Big Bazaar of the Future Group to introduce the fbb SBI StyleUp card for value conscious consumers looking for affordable fashion. In continuation to this, SBI has introduced yet another credit card aimed at consumers in the premium lifestyle and fashion space by partnering with Future Group’s fashion and lifestyle departmental store Central to launch the Central SBI Select card.

Privileges on Central SBI Select Card

The Central SBI Select card is truly an asset for consumers who frequent the Central malls in any of the cities in India. In fact, as soon as you walk in to one these days, you immediately find an SBI credit card stall with enthusiastic young staff ready to help you out with the application and explaining the benefits. The Central SBI Select card has a point-based reward system wherein the consumer is rewarded for purchases made at Central stores or spending on movies, dining, fuel etc.

Before we go further into the reward points, let’s talk about the joining benefits of the Central SBI Select card.

  • E-gift voucher worth Rs.750 as a complimentary gift
  • Rs.250 BookMyShow voucher
  • Vouchers worth Rs.250 each for the first 3 months.
Exceedingly Rewarding

The Central SBI Select card rewards customers handsomely for purchases made using the card in form of Select points. One select point= Rs 0.25. Let’s see what kinds of rewards are assured by this card.

  • For every Rs.100 spent at Central stores, customer wins 10 Select points
  • For every Rs.100 spent for dining and movies, 5 Select points
  • 1 Select point for every Rs.100 spent on other items except fuel.
  • For an annual spent of Rs.75000, 2000 Select points will be credited
  • For 1,50,000, it goes up to 6000 Select Points
  • And an incredible 8000 Select points for annual expenditure exceeding Rs.3 lakhs.

How do you redeem these Select points? Unlike other reward programs, wherein the customer needs to wait till the reward points accrue to a particular limit, the Select points can be redeemed at any Central stores irrespective of the number of points. This Instant Redemption is an attractive feature which gives customers immediate benefits and there is no need to wait till the minimum limit is reached.

Apart from this, the Central SBI Select card comes with the regular bouquet of features offered with all SBI cards like Flexipay, easy EMI conversion, balance transfer on EMI, Easy Bill Pay facility at zero charge, Easy Money facility etc.

Fees and other charges

We find the annual fee as well as the joining fee on the Central SBI Select card quite reasonable, considering SBI often has exuberant charges on its credit cards. The one time Annual fee of Rs.750 and the renewal fee of Rs.750 is at par with what other competitors are offering and hence is strategically priced. Other standard charges apply for this credit card.

The Bottom line

SBI has been consistently coming up with credit card tailor made for customers coming under a specific category and with the introduction of products like Central SBI Select card and the fbb SBI StyleUp card; they have narrowed down the category further. Only time will tell the success or failure of this strategy, but from a customer point of view, the Central SBI Select card is an excellent option if you do most of your shopping from Central stores. It also has a robust rewards program and instant redemption features which makes it an ideal choice.


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