Accelerated rewards and milestone benefits are the two primary spend-based benefits that cardholders can avail. On bonus categories like dining, movies and grocery, users can get up to 2.5% back. So, if you spend Rs. 20,000 on the accelerated spending categories, you get Rs. 500 back, which is a good value-back. Moreover, if you meet all quarterly and yearly milestones, you can get up to Rs. 11,000 as vouchers. Hence, for someone who spends around Rs. 5 Lakh in a year, this card can be a good choice. However, accelerated earnings are limited to a few categories but the base reward rate is only 0.5%, and gift vouchers are limited to only two brands- Pizza Hut and Yatra/Pantaloons. Hence, consumers who spend a significant amount in the said categories and can easily meet the Rs. 5 Lakh spend milestone can consider applying for this card.
SBI Cards
SBI Card PRIME
Travel
Shopping
Reward Points
1st Year Fee: ₹2,999* Plus Applicable Taxes
Reward Points
5X rewards on dining, movies & grocery
Gift Voucher
Pizza Hut vouchers worth up to Rs. 4,000 in a year
Lounge Access
8 domestic & 4 international visits yearly
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About SBI Card PRIME
SBI Card PRIME is a reward-focused credit card offering accelerated earning on movies, dining, grocery and departmental store spends. Cardholders can get gift voucher worth up to Rs. 11,000 in a year on achieving spend milestones. In addition to these spend-based benefits, the card offers complimentary domestic and international lounge visits, adding value for travellers. The card is available in Visa, Mastercard and American Express networks and consumers can avail network-based benefits around golf, hotel and dining.
While SBI Card PRIME can offer good value to high-spenders who typically make purchases in the bonus categories, its annual fee of Rs. 2,999 is quite high for the set of benefits offered. Several entry-level and mid-range cards provide comparable or even better value even at a comparatively lower annual fee, making SBI Card PRIME a less competitive choice in this price segment.
Rewards Program & Milestone Benefits
Along with a decent base reward rate, SBI Card PRIME offers 5X earnings in select spending categories along with gift vouchers worth up to Rs. 4,000 in a year as milestone benefit.
Rewards Program
- 20 reward points for every Rs. 100 spent on your birthday1
- 10 reward points for every Rs. 100 spent on dining, groceries, departmental stores and movies2
- 2 reward points for every Rs. 100 spent on all other retail purchases, except for fuel
- 4 reward points = Rs. 1
Other Features & Benefits
Along with rewards and milestone benefits, SBI Card PRIME offers the following benefits:
Welcome Gift Voucher: Rs. 3,000 voucher from any of these brands:
- Bata/ Hush Puppies OR Pantaloons OR Shoppers Stop OR Aditya Birla Fashion OR Yatra
Complimentary Lounge Access:
- 4 complimentary lounge visits per calendar year to international Priority Pass lounges, outside India (Max. 2 visits in a quarter)
- 8 complimentary lounge visits per calendar year to domestic lounges in India (Max. 2 visits per quarter)
SBI Card PRIME : Fees & Charges
| Fee Type | Amount | ||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Joining Fee | Rs. 2,999 | ||||||||||||||
| Annual Fee | Rs. 2,999 | ||||||||||||||
| Finance Charges | 3.5% p.m. (42% p.a.) | ||||||||||||||
| Late Payment Charges3 |
|
Things to Know Before you apply
Consider this card if:
You can spend Rs. 5 Lakh or more in a year to maximize the milestone benefits and get fee waiver
You spend a considerable amount on movies, dining and grocery categories
You travel often and complimentary lounge access would be a valuable feature for you
Eligibility Criteria:
Age: 21 to 70 years
Occupation: Salaried or Self-employed
Documents Required: PAN, Aadhaar or any other government approved photo ID and address proof, along with last 3-month’s salary slip or bank statement as proof of income
Paisabazaar Review
What do we like about this card?
While the card charges a high joining and annual fee of Rs. 3,000, it compensates for the same by offering welcome benefits worth Rs. 3,000 along with an easily achievable fee waiver condition. Cardholders who reach yearly spending of Rs. 5 Lakh, along with meeting quarterly milestone of Rs. 50,000 can get gift vouchers worth Rs. 11,000, which is an excellent value-back.
Pros
- 5X reward points on dining, movies, grocery and departmental store spends
- Milestone benefits worth Rs. 11,000 in a year on spending Rs. 5 Lakh or more
- Complimentary domestic and international lounge visits
- Benefits on hotel, golf, dining and more (based on card network)
Cons
- Low reward redemption value of Rs. 0.25
- No other travel benefits except complimentary lounge access
- Annual fee of Rs. 2,999 is quite high for the set of benefits offered
Conclusion
Despite being a rewards credit card, SBI Card PRIME comes with a base rate of 0.5%, which is quite low for those who wish to get good value-back on spends outside the bonus categories. Even 2.5% back on the accelerated category is low when compared with cards like Cashback SBI Card and HDFC Regalia Gold Credit Card. Moreover, some benefits like complimentary Club Vistara Silver membership and Trident Privilege Red Tier membership have now been discontinued, and now the card does not offer any travel-focused benefits other than lounge access. Overall, consumers who want to make maximum earnings through dining, movies and grocery spends and can easily reach the yearly spends of Rs. 5 Lakh will be able to maximize the card’s benefits.
Frequently Asked Questions
Everything you need to know about this credit card
Yes, you can apply online as well as offline for this credit card. To apply offline, you can visit any of the nearest SBI Bank branches and contact an executive. If you want to apply online, you can visit the official website of SBI Card and fill out an application form.
You can activate your credit card by logging in to your SBI Card account and clicking on the ‘Card Activation’ option under the ‘Requests’ tab. After this, you need to select your credit card and click on the activate button to activate your credit card. Apart from this, you can also activate your SBI Credit Card through the mobile app.
Yes, you can apply for a maximum of 2 add-on cards on your SBI Card Prime. The bank does not charge any fee for add-on credit cards. However, you will receive a single consolidated SBI Credit Card statement every month for all the credit cards.
SBI Credit Card users can contact the customer service by calling on the toll-free number on 1800-11-2211 or 1800-425-3800. You can also call on the other SBI Credit Card customer care number– (STD Code) 39020202. However, normal call charges may apply on this number.
No, you can earn a fuel surcharge waiver of 1% on your transactions between Rs. 500 and Rs. 4,000. However, you can avail a maximum fuel surcharge waiver of Rs. 250 in a month. This is applicable on your transactions across all petrol pumps in India.
You can pay your SBI credit card bill through online as well as offline ways. To pay your credit card bill online, you can use facilities like NEFT, electronic bill payment, National Automated Clearing House (NACH), Visa credit card pay, debit card, etc. You can pay your credit card bill offline by cash, cheque, demand draft and SBI ATM.
Footnotes
- Reward points earned on birthday spends (one day before, on, and one day after) are capped at 2,000 reward points per calendar year.
- Cumulative capping of 7,500 reward points for every month on dining, movies, departmental stores and grocery spends, after which base rate of 2 reward points for every Rs. 100 will be applicable.
- An additional Late Payment Charge of Rs. 100 will be levied on missing payment of Minimum Amount Due (MAD) by the due date for two consecutive cycles. This charge will continue to be levied for every payment cycle until the MAD is cleared.
Click here to know More Terms and Conditions
Shruti Sharma
Shruti Sharma is a skilled content writer with a passion for simplifying personal finance for consumers. Specializing in credit cards and financial planning, she offers valuable insights that empower individuals to make informed financial choices. Through her writing, she shares practical tips and guides readers through the nuances of credit card usage.
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