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All About SBI Prime Credit Card – Benefits, Downsides & fees
In Mid 2017, SBI(State Bank of India) launched its most premium and most wanted credit card. SBI has named this credit card as SBI prime credit Card. This credit card is specially made for people who wanted a premium Credit Card. So, If you need a credit card full of features with Premium offers, you must buy this credit card. In this article on SBI Prime Credit Card, you will get everything about SBI prime credit card. You will know, the benefits of the SBI Prime Credit Card, and the downsides of the SBI Prime Credit Card.
Also, you will find here, what is the eligibility for SBI prime Credit Card & Fees for this Card. Here is something about this credit card. SBI Prime Credit Card is not a budget credit card. This Credit Card is not for budget purposes. This SBI credit card is a Premium & expensive credit card, If you want a Budget credit card then you can check SBI SimplyClick Credit Card or SBI simply save Credit Card.
Benefits Of SBI Prime Credit Card:
As you know, SBI Prime Credit Card is one of SBI’s most famous and most expensive credit cards. So, It is a fact that This credit card is loaded with offers & cashback. So, Let’s talk about the Benefits Of this SBICard.
Welcome Benefits:
When you apply for this SBI prime credit card & pay the annual fees of this card. Within 15 days of applying and fees payment, you will get an option to get an E-gift card from BATA, Aditya Birla Retail, Pantaloon or Yatra. You can choose one of the e-gift cards & Use it for Free. So, you can collect your annual fees in the Welcome Offer.
Cashbacks & Rewards:
The best benefit of This SBI Prime Credit Card. You will get 5% cashback on autopilot Monthly payments. Autopilot Monthly payments mean Payments that you have to pay every month like Electricity Bills, Water Bills & Mobile Recharge (WiFi Recharge). You can get cashback until it counts to 3000 Rs. You will get this 5% cashback in Reward points.
Bigbasket Cashback:
If you purchase from Big basket by using this SBI Prime Credit Card, You will get 3.75% cashback. Also, You will get this cashback in Reward points. So, if you are a big basket user this can be very beneficial for you.
Cashbacks on Movies & Groceries:
SBI Credit Card is giving 2.5% Cashback on Movie Tickets Booking, Grocery shopping, or paying at Departmental Store. With this SBI Prime Credit Card payments like movie tickets, booking & grocery shopping can be very helpful for you. Also, this Cashback will be counted in Reward points.
Online Payments:
In online payment with this credit card, You will get 0.5% cashback. Excluding upper payments, you will get no more than 0.5% cashback on online purchases & payments.
Club Vistara Membership:
In SBI Prime Credit Card, You have the option to take Club Vistara Membership. In this membership, If you spend & book tickets with Credit Card. You will get 9 Club Vistara Points on every 100 Rupees spent that you can redeem for ticket bookings. You can use these club Vistara points to book tickets.
Milestone Benefits of SBI Prime Credit Card:
- If you spend 50,000 rupees in a quarter, you will get a pizza hut voucher worth 1,000 rupees. It means, If you spend at least 50,000 Rupees in 3 months then you will get a pizza hut voucher worth 1,000 rupees.
- In a year, if you spend 3 lakh rupees on SBI Prime Credit Card then your annual fees will be free. So, spend 25,000 rupees every month & waive your card’s annual fees.
- In a year, If you spend 5,00,000 rupees on SBI Prime Credit Card you will get a gift voucher from Pantaloon or Yatra.com. These gift vouchers are worth 7,000 rupees. You can choose any one of them.
Birthday Cashback:
SBI Prime Card is giving exciting offers on Birthdays. On your birthday, you will get 5% cash back on every spend. As you know all cashback will be calculated in reward points.
fuel purchase Cashback:
If you purchase fuel by using an SBI Prime credit card & Your bill is between 500 rupees to 4000 rupees. You will get cashback on fuel purchases until. The limit of this cashback is 250 rupees per month. If your limit is reached then you will not get any cashback.
Lounge Access:
SBI Prime credit card is providing you with 8 complimentary domestic launch access. If you apply for a priority pass then you will get 4 international lounge access. So if you are a tour lover then it can be very beneficial for you.
Eligibility for SBI bank credit card:
If your age is between 18 to 70 years old, you can apply for this credit card.
India Residency is not important to apply for this credit card. If you are a foreigner then you can also apply for this credit card.
Don’t panic, if you don’t have an SBI bank account, you can still apply for this credit card. but if you have an SBI bank account then the application process will be more simple for you.
Fees & Charges For SBI Prime Credit Card:
The annual fees for the SBI Prime credit card are 3000 rupees + GST. This fee is a must for every year. You have to pay 3000 rupees + GST as an annual fee every year. The GST charged is 18% on SBI credit cards.
Downsides Of SBI Prime Credit Card:
Every credit card has downsides but that Credit card which has minimal downsides is the best thing.
- The first and most important point, this credit card is not made for online payments. If you don’t spend so much offline then this credit card is not made for you because SBI Prime Credit Card gives only 0.5% cashback on online payments.
- On autopilot Monthly payments, you can’t get cashback of more than 3,000 rs. Even If your payments are in big amounts, It will not give you a cashback of more than 3,000 rupees.
- As you know that you will get all cashback in Reward points. But when you redeem reward points, you have to pay 99 rupees + GST redeem Reward points.
- The annual fees of SBI prime credit cards are more than they must be. It means you have to pay 3000 rupees annual fee every year. If you can’t spend at least 3,00,000 rupees then this is not beneficial for you.
- In any condition, if you can’t pay bills then you have to pay 40% interest in a year. This is the most problematic downside of the SBI Prime Credit Card.