SBI Visa Elite Credit Card Review 2021

By | March 24, 2021

Mastercard, in collaboration with SBI, launched its SBI Visa elite class credit card. Mastercard has various variants in the USA named titanium, platinum & world-issued in India.

Many of us are waiting for this card to launch by Mastercard but did not get a satisfactory response. Now, after a long wait, here is the Mastercard’s elite card with SBI.

Although the offers are not that satisfactory, let us look at the offers and rewards offered by this new collaboration.

SBI Visa Elite Credit Card

Fees

Type of FeesCharges
Joining FeeRs.4999
Renewal FeeRs.4999
Add on feeNil
Interest Charged 3.50% per month
Foreign currency markup~3.5%

You will receive vouchers from Pantaloons, Shoppers Stop, Hushpuppies & Yatra, and more in the form of welcome benefits.

Variant: Mastercard/Visa/American Express

Eligibility

  • For Salaried Applicants: Greater than Rs.60,000 per month
  • For Self Employed Applicants: Greater than Rs.60,000 per month

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SBI Elite Card Rewards

  • 10RP on spending every Rs.100 on Dining/Grocery Shopping or in Departmental stores
  • 2RP on every Rs.100 retail spend, except fuel.
  • 1% Fuel Surcharge Waiver across all petrol pumps.
  • 4 RP= Rs.1
  • 10,000 RPs on spending Rs.4,00,000 in a year
  • 15,000RP on making an annual spend of more than RS.8,00,000 in a year.

So if you spend 8 lakh in a year, you will get:

16,000RP+50,000RP = 66,000RP (~Rs.17,000), which is approx. 2.05% of your spending.

Lounge Program

  • International Lounge: 6 visits/year, i.e. 2/ quarter
    • Additional Priority Pass membership of $99
    • $27 fee is charged after exhaustion of complimentary visits

Membership Benefits

Club Vistara Membership

  • Complimentary Vistara Membership
  • 9CV Points on spending Rs.100 on booking Vistara

Trident Privilege Membership

  • Complimentary Trident Membership
  • 1000 welcome points on registration
  • 10% savings on making a booking directly through the hotel website
  • Enjoy 10 points for every Rs.100 spent
  • 500 Bonus Points on your first stay & additional Rs.1,000 hotel credit on an extended night stay

How To Apply for SBI Elite?

You can apply for the card in the following manner:

  1. Visit the credit card application page of the SBI website
  2. Check up eligibility for the card
  3. Fill up all the information to apply for the card
  4. Submit all the necessary documents required for the credit card

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Documents Required

  • Identity Proof: PAN Card, Aadhar Card, Voter’s ID Card, Driving License, Ration Card
  • Address Proof: Aadhar card, Voter’s ID, Ration Card, Electricity Bill, Lease/Rent Agreement, Utility Bills
  • Income Proof: Salary Slip of last 6 months
    • Bank Statement of last 6 months
    • ITR of an annual year

Our Suggestion

This is a premium-level card that comes in three variants. Selection of variant is not offered to you. The card has a good reward rate and has amazing spend benefits or milestone benefits.

Also, the card offers free priority pass membership and also the membership from Vistara & Trident. Trident membership is something we have tried and can say that the services offered are amazing.

Although it has a high joining fee, it is worth paying if you get membership from such good brands and welcome vouchers from some good companies.

Strength-Weakness

StrengthWeakness
Club Vistara membership A little high joining fee
Free priority pass membership

Features

  • Free Movie Tickets worth Rs.6,000 every year
  • Discount is available on only two tickets per month, max. discount allowed is Rs.250 per ticket
  • Get a 1% fuel surcharge waiver on every transaction between Rs.500 to Rs.4,000.

Bottom Line

SBI Elite is a replacement for the SBI Signature Visa card. The rewards are average, and you have to spend more money to earn these rewards.

This is a card that comes with an option of tap to pay or contactless pay. If you are on good terms with SBI and want to experience how Mastercard works, you can go for this.


FAQ’s

How to update email ID & mobile number linked to SBI account

Follow the below mentioned steps tp make changes:

  • Go to sbicard.com/quickcontact
  • Enter SBI Card no., CVV no. & Date of Birth
  • Now OTP will be received by you on your registered mobile number. Which remain valid for 30 mins
  • After entering your OTP correctly, update your email ID & mobile number
  • Then press submit

How to make payments for SBI Visa Elite credit card?

Payment can be made in number of ways;

Online

  • NEFT Payment
  • National Automated Clearing House
  • SBI Auto Debit
  • Paynet-Pay Online
  • SBI Mobile Banking
  • Debit Card
  • Pay via Mobile App
  • Visa Credit Card Pay
  • Online SBI
  • Electronic Bill Payment

Offline

  • Over the Counter Payment
  • SBI ATM
  • Electronic Drop Box
  • Manual Drop Box

How to check outstanding balance on credit card?

You can check outstanding balance either by internet banking; also you can call a credit support executive to know about the bills in more detail. You can also check your balance by giving a missed call on the toll-free number.

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