Review of the new SBI Prime Card
SBI Prime is the latest SBI card. It replaces the company’s platinum card range. Actually, effective 1st June 2017, SBI has transferred all the SBI platinum card benefits to the SBI Prime Card. You can get it MasterCard’s world version or Visa’s Signature version. The best attribute about this card has to do with its free international and national lounge access.
The card from SBI targets the upper-medium tier income folks. There is no doubt that the card is revolutionary in terms of benefits and rewards.
SBI Prime Card
- Welcome e Gift Voucher
- Twenty RP For every Rs. 100 spent
- Club Vistara Membership
Chances of Approval:
SBI Prime Card Review– Benefits and Features
#1: Welcome Gift
When obtaining this card, you get a welcome e-gift Voucher that’s worth 3,000 Indian rupees from any of these brands:
- Shoppers Stop and Yatra
- Marks and Spencer
- Hush/Bata Puppies
Within fifteen days of request, you’ll receive the gift voucher code in your registered mobile number. You can always redeem your voucher at the respective brand store by showing the code. For Yatra, it’s possible to redeem the code online at purchase time.
#2: Reward points
Here’s a breakdown of the reward points:
- Twenty RP For every Rs. 100 spent – Standing instructions for Utility Bills payments – 5% value
- Twenty RP For every Rs. 100 spent – All spending on your birthdays – 5%
- Fifteen RP For every Rs. 100 spent – Reliance Footprint, Reliance Fresh, Reliance Trends & Sahakari Bhandar stores, BigBasket – 3.75%
- Ten RP For every Rs. 100 spent – Departmental stores & Movies, Groceries, Dining – 2.5% value
- 2 RP For every Rs. 100 spent – All other spends – 0.50% value
While the slabs might be plenty, the most notable ones are the first two, which give you 5% value without any upper cap. Additionally, you obtain a decent value when it comes to departmental store spends. What is for sure is that the SBI Card Prime stands out as an incredible card for any family because of the Departmental and Groceries store spend benefits it brings with it.
Of great importance to note is the fact that you can adjust the reward points for statement credits just like you do with Elite card.
#3: Airport Lounge Access
- Domestic – Eight complimentary visits annually to Mastercard Lounges/Domestic Visa in India (maximum two visits per quarter)
- International – Four complimentary visits annually to the International Priority Pass Lounges, outside of India (Maximum two visits per quarter)
- Both for the Primary Cardholders only
The other important thing to note is the fact that banks are currently pushing Priority pass that are utilized only for international visits. That is because banks might be required to part with higher amounts from their pockets for their client’s Priority Pass visits. On the other hand, Visa/Mastercard may not need such higher amounts for their lounge access as it remains part of their major benefit.
#4: Club Vistara Membership
- Earn nine Club Vistara Points for each 100 rupees spent on your Vistara flights
- Get one complimentary Upgrade Voucher and Lounge Access Voucher
- Enjoy complimentary Club Vistara Silver membership
One of the best features from the above highlights is that the upgrade voucher offers a lot of value.
How to enjoy the best value from the SBI Prime credit card
Certainly, the SBI Prime Card is an undeniably a power packed credit card that brings with it an array of amazing features. From lounge access to milestone benefit, the card boasts everything needed all under one roof. The renewal fee waiver of only 3L spend is highly acceptable.
So which is the best way to maximize value? Here’s how to do it:
- Just spend on categories that attract 5% value as outlined above. That enables you to save 25,000 Rs. as reward points.
- You obtain 4,000 Rs. worth of Pizza Hut vouchers
- You obtain 7,000 Rs. worth Pantaloons/Yatra voucher (5L spend)
- The total savings you stand to enjoy are 36,000 Rs. on 5L spend which translates to 7% Reward Rate
Definitely, some people might find it challenging to spend on 5% value categories all the time. If you find yourself in such a situation, you can also equal value even at 7%. That is taking milestone benefit into account and/or spends being spread out evenly across other categories.
In summary …
The time has now come to eliminate the monopoly that’s in the market (HDFC). This is because SBI Prime card comes to serve as an effortless replacement for the latter card in almost all aspects. It is high time that HDFC realizes that their series of devaluations isn’t going to help them in any way. SBI Prime card indeed serves to address the needs of clients in a much better way compared to others. Get yours today and enjoy the magic. Learn more here.
- Better CIBIL Score = Cheaper Home Loan - 18/05/2018
- I Closed A Personal Loan, Why Is It Still On My CIBIL? - 18/05/2018
- HDFC Planning Huge Influx of Credit Cards To It’s Customer Base - 14/05/2018
- 12 Things You Might Not Know About CIBIL Scores - 07/05/2018
- New Cash Back Offer from IRCTC SBI Card - 04/05/2018