SBI ELITE Credit Card Review

Welcome to the world of luxury and exclusivity with the SBI ELITE Credit Card. Developed by SBI Card, this premium credit card offers a plethora of exceptional benefits and privileges to its esteemed cardholders. Once hailed as the most prestigious offering by SBI Card, the arrival of the SBI AURUM Credit Card has positioned the SBI ELITE Credit Card as the second most premium card in their lineup. Packed with top-notch value-added features, this card ensures a remarkable and unforgettable experience for its users.

SBI ELITE Credit Card

As a proud holder of the SBI ELITE Credit Card, you gain access to a host of exclusive benefits that epitomize luxury. From complimentary domestic and international lounge visits to complimentary shopping vouchers and discounted rates on hotel bookings, this card caters to your every desire. Additionally, it offers a range of add-on benefits such as free movie tickets and much more, making every transaction a delightful experience.

When it comes to earning rewards, the SBI ELITE Credit Card doesn’t disappoint. With a reward rate of 0.5%, you earn 2 Rewards on every Rs. 100 spent using the card. Furthermore, for departmental store purchases, dining experiences, and grocery spends, you enjoy an impressive reward rate of 2.5%, earning 5X Reward Points per Rs. 100 spent. Such generous reward rates ensure that your spending is not only convenient but also rewarding.

The SBI ELITE Credit Card is available in three variants: Visa, MasterCard, and American Express. While the benefits largely remain the same across all variants, each payment network provides exclusive advantages. For instance, the MasterCard variant offers complimentary golf games, allowing you to indulge in your passion for the sport. On the other hand, the AmEx variant presents discounted dining rates, ensuring a delightful culinary journey for cardholders.

Experience the epitome of elegance and luxury with the SBI ELITE Credit Card. With its unparalleled privileges, rewarding experiences, and personalized services, this card transforms every transaction into an extraordinary event. Whether you seek a memorable travel experience or wish to indulge in fine dining and shopping, the SBI ELITE Credit Card is your gateway to a world of unparalleled benefits and exclusivity. Join the ranks of the elite and embark on a journey of luxury with the SBI ELITE Credit Card.

Features & Benefits

  • Welcome Benefits: Receive an e-Gift Voucher worth Rs. 5,000 from leading travel and lifestyle brands such as Yatra, Bata/Hush Puppies, Aditya Birla Fashion, Pantaloons, or Shoppers Stop as a warm welcome gesture upon card activation.
  • Milestone Benefits: Unlock up to 50,000 Bonus Reward Points by achieving specific spend milestones. Earn 10,000 Bonus Reward Points each upon reaching spending milestones of Rs. 3 lakh and Rs. 4 lakh, and 15,000 Bonus Reward Points each for spending milestones of Rs. 5 lakh and Rs. 8 lakh.

SBI ELITE Credit Card Travel Benefits

  • Enjoy complimentary Club Vistara Silver-tier Membership, enhancing your travel experience.
  • Receive complimentary Red Tier membership to Trident Privilege, offering exclusive privileges at Trident hotels.
  • Access domestic and international lounges at airports, providing a comfortable and relaxing pre-flight experience.
  • Benefit from up to a 15% discount on the best available prices at Lalit and F&B hotels (for MasterCard variant).
  • Avail discounts of up to 10% on Hertz car rentals and up to 35% off on Avis Car Rentals (for Visa variant only).
  • Access exciting privileges at over 900 luxury hotels (for Visa variant only).
  • Enjoy VIP upgrades and privileges at hotels in India and abroad with Tablet Plus membership (for American Express variant holders only).

Airport Lounge Access

  • Experience free domestic lounge access twice every quarter with Visa/MasterCard/American Express.
  • Enjoy up to 6 complimentary access to international airport lounges per year (maximum 2 every quarter) through the Priority Pass program.

Movie and Dining Benefits

  • Receive complimentary/discounted movie tickets every month, with a maximum benefit of Rs. 6,000 per year and Rs. 250 per ticket. Valid for a minimum of 2 tickets per booking per month.
  • Enjoy exciting offers and deals on dining with up to 25% off at partnered restaurants (with American Express variant only).
  • Golf Benefits: For MasterCard variant holders, enjoy 4 free green fee rounds, up to a 50% discount on all golf games, and 1 complimentary golf lesson each month at select golf courses across India.
  • Concierge Service: Access a dedicated concierge service for assistance with flower and gift delivery, as well as online doctor consultations. Reach out to the concierge team at 1800-2121-68168 or via email at
  • Lower Foreign Markup Fee: Experience the convenience of a lower foreign markup fee, with only 1.99% charged on foreign currency transactions made with the Elite SBI Credit Card.
  • SBI Elite Credit Card Annual Fee Waiver: If you spend Rs. 10 lakhs or more in the previous year, the annual fee for the Elite Card will be waived off, providing you with added financial benefits.
  • Fuel Surcharge Waiver: Enjoy a 1% fuel surcharge waiver on fuel transactions ranging from Rs. 500 to Rs. 4,000. The maximum benefit under this waiver is capped at Rs. 250 per month, ensuring savings on your fuel expenses.

SBI Card ELITE Reward Points Reward Points

  • Reward Points on Regular Spending: Earn 2 Reward Points (RPs) for every Rs. 100 spent using your SBI Card ELITE Credit Card. This allows you to accumulate points effortlessly on your everyday purchases, adding value to your spending.
  • 5X Reward Points on Special Categories: Enjoy a higher earning potential with 5X (10) Reward Points for every Rs. 100 spent on departmental store purchases, dining experiences, and grocery spends. This special reward rate of 2.5% allows you to earn points at an accelerated pace, providing even greater rewards on your preferred categories.
  • Seamless Redemption Options: Redeem your accumulated Reward Points for an array of exciting options, including merchandise, gift vouchers, air miles, statement credit, and more. The redemption process is hassle-free and allows you to maximize the value of your earned points.
  • Flexible Point Expiry: With the SBI Card ELITE, your Reward Points have a validity of up to 24 months. This gives you ample time to accumulate points and choose the perfect redemption option that suits your preferences.
  • Complementary Value on Point Conversion: Enjoy enhanced value on point conversion with the ability to convert your Reward Points into Air Miles across various frequent flyer programs. This allows you to turn your points into exciting travel opportunities, making your journeys even more rewarding.
  • Exciting Bonus Reward Point Offers: Keep an eye out for exclusive promotions and offers that provide opportunities to earn bonus Reward Points. These limited-time offers can further boost your point balance and fast-track your rewards.
  • Track and Manage Points Effortlessly: Stay updated on your Reward Points balance through SBI Card’s user-friendly online portal or mobile app. This allows you to monitor your earnings, plan your redemptions, and make the most out of your rewards program.
  • Value-Added Privileges: Along with the rewarding Reward Points program, the SBI Card ELITE offers a range of additional benefits, such as complimentary lounge access, welcome gifts, milestone rewards, and exclusive travel and dining privileges. These value-added privileges complement your Reward Points earnings, enhancing your overall cardholder experience.

SBI Card ELITE Fees & Charges

  • Annual Fee: The SBI Card Elite has an annual fee of Rs. 4,999. However, this fee is waived off if you spend Rs. 10 lakhs or more in the previous anniversary year. This provides you with an opportunity to enjoy the card’s benefits without the burden of an annual fee.
  • Interest Rate: The interest rate on the SBI Card Elite is 3.5% per month, which translates to an annual interest rate of 42%. It is essential to manage your credit card payments diligently to avoid accruing high-interest charges.
  • Foreign Currency Markup Fee: With the SBI Card Elite, you benefit from a low foreign currency markup fee of 1.99% on transactions made in a different currency. This fee is significantly lower compared to many other credit cards, allowing you to make international purchases with greater cost-effectiveness.
  • Cash Withdrawal Charges: In case you need to withdraw cash using your Elite SBI Credit Card, a cash withdrawal charge of 2.5% of the withdrawal amount applies, subject to a minimum of Rs. 500. It is advisable to limit cash withdrawals as much as possible due to the associated charges and higher interest rates on cash advances.
  • Late Payment Charges: Ensure timely payment of your credit card bills to avoid incurring late payment charges. The exact late payment fee may vary based on the outstanding amount and payment history. It is crucial to adhere to the payment due dates to maintain a good credit standing.
  • Overlimit Charges: The SBI Card Elite may attract overlimit charges if you exceed your assigned credit limit. These charges are determined based on the extent of the overlimit and are reflected in your monthly statement. It is advisable to keep track of your spending and stay within your credit limit to avoid such charges.
  • Other Applicable Charges: Apart from the aforementioned fees, it is essential to review the complete list of charges associated with the SBI Card Elite. These may include charges for duplicate statements, card replacement, payment dishonors, and more. Familiarize yourself with these charges to ensure a comprehensive understanding of the card’s cost structure.

Before applying for the SBI Card Elite or any credit card, it is crucial to assess its fees and charges to make an informed decision. By understanding the associated costs, you can evaluate whether the benefits and features of the card outweigh the expenses. Careful consideration of these fees and charges ensures a transparent and financially responsible credit card experience.

Eligibility & Documentation

To apply for the SBI Card ELITE, you need to meet the eligibility criteria set by the card issuer. Additionally, certain documents may be required to support your application. Here are the key details regarding eligibility and documentation:

Eligibility Criteria

The SBI Card ELITE is available to both self-employed and salaried individuals, subject to the following age and income requirements:

  • Self-employed individuals: Age between 21 years and 60 years, with a minimum monthly income of Rs. 60,000 or more.
  • Salaried individuals: Age between 18 years and 65 years, with a minimum monthly income of Rs. 60,000 or more.
  • Additional Requirements: Apart from the basic eligibility criteria mentioned above, the card issuer may have additional requirements that can influence the approval or declination of your credit card application. These requirements can vary based on factors such as credit history, employment stability, and other risk assessment parameters.


When applying for the SBI Card ELITE, you will typically need to provide certain documents to support your application. These may include:

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  • Proof of identity: Valid government-issued identification documents such as Aadhaar card, PAN card, passport, or driver’s license.
  • Proof of address: Documents verifying your residential address, such as utility bills, bank statements, or rental agreement.
  • Income proof: Documents supporting your income, such as salary slips, income tax returns, bank statements, or audited financial statements for self-employed individuals.
  • Additional documents: Depending on the specific requirements of the card issuer, you may be asked to provide additional documents as per their discretion.

How To Apply for SBI Elite Credit Card?

Applying for the SBI Elite Credit Card is convenient and can be done through various channels, both online and offline. Here are the steps to apply for the card:

Offline Application

  • Visit the nearest SBI branch with all the required documents.
  • Fill out the offline application form provided by the bank.
  • Submit the completed application form along with the necessary documents.
  • The bank officials will guide you through the further process.

Online Application

  • Visit the official website of SBI Card.
  • Locate the ‘Apply’ button and click on the ‘apply now’ option.
  • You will be directed to a page displaying all the SBI Credit Cards available.
  • Select the SBI Card Elite from the list and click on ‘apply now’ to proceed.
  • Fill in the online application form with the required details.
  • Review the information entered and submit the application.
  • A bank representative will contact you for the subsequent steps.
  • Applying online offers convenience and saves time, allowing you to complete the application process from the comfort of your home or any preferred location. However, if you prefer a face-to-face interaction or need assistance with the application, visiting an SBI branch and applying offline is also an option.

Remember to have all the necessary documents ready before applying to ensure a smooth application process. These documents typically include proof of identity, address, and income, as mentioned in the previous section. By following the application steps diligently, you can initiate the process and take a step closer to obtaining the SBI Elite Credit Card.

Who Can Get SBI Elite Credit Card?

The SBI Elite Credit Card is designed for individuals who meet specific criteria. Here’s a breakdown of who can qualify for this premium credit card:

  • Eligibility Requirements: To be eligible for the SBI Elite Credit Card, you need to fulfill certain criteria, including:
  • Income Requirement: You should have a high annual income to meet the financial qualifications for this premium credit card.
  • Credit Score: A good credit score is essential for approval. Maintaining a positive credit history and score is recommended before applying for the Elite SBI Card.
  • High-income Individuals: The SBI Elite Credit Card is suitable for individuals with a substantial annual income who can comfortably meet the financial obligations associated with a premium credit card.
  • Excellent Credit Score: Having an excellent credit score demonstrates responsible credit behavior, timely repayments, and a low credit risk profile. A strong credit score improves the chances of being approved for the Elite SBI Card.

By focusing on building and maintaining a good credit score, as well as meeting the income requirements, individuals can enhance their eligibility for the SBI Elite Credit Card. It is important to note that meeting the eligibility criteria does not guarantee approval, as the final decision lies with the card issuer based on their assessment and discretion.

Advantages and Disadvantages of Elite SBI Card

When considering the Elite SBI Credit Card, it is essential to weigh the advantages and disadvantages to determine if it aligns with your financial needs and preferences. Here are some key points to consider:


  • Versatile Privileges: The Elite SBI Card offers an extensive range of privileges across various categories, including travel benefits. This makes it a suitable option for individuals seeking an all-in-one credit card solution.
  • Waiver of Annual Fee: By utilizing your credit card for most of your purchases, you have the opportunity to meet the minimum annual spending requirement and have the annual fee waived. This feature can be advantageous for those who maximize their card usage.
  • Travel and Lifestyle Perks: The Elite SBI Card provides attractive travel and lifestyle privileges, making it appealing to frequent travelers and individuals who enjoy indulging in luxury-related categories.


  • Reward Rate Comparison: The reward rate of the Elite SBI Card may not be as competitive as other premium credit cards available in the market. If you are a frequent shopper who prioritizes earning rewards, this card might not offer the optimal rewards program for your needs.
  • High Annual Fee: The Elite SBI Card comes with an annual fee of Rs. 4,999. If you are not prepared to commit to paying this high fee annually, it may be considered a disadvantageous aspect of this credit card.

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Does the SBI Elite Credit Card annual fee get waived?

Indeed, if the cardholder has spent Rs. 10 lakhs or more in the previous anniversary year, the annual fee of the SBI Elite Credit Card is waived off.

Can I apply for the SBI Elite Credit Card online?

Yes, you can apply for the SBI Elite Credit Card online by visiting the SBI Card’s official website, selecting the Elite Card, filling in the online application form, and submitting it. A bank official will then get in touch with you for further processing.

Can I withdraw cash using the SBI Elite Credit Card?

Yes, cash withdrawal is possible using the SBI Elite Credit Card. However, a cash withdrawal fee of 2.5% of the withdrawal amount (subject to a minimum of Rs. 500) is applicable.

Is there a foreign currency markup fee for international transactions?

Yes, there is a foreign currency markup fee of 1.99% of the transaction amount for international transactions made using the Elite SBI Credit Card.


The SBI Elite Credit Card stands as a prominent premium offering by SBI Card, presenting a range of benefits and privileges to cardholders. With its extensive privileges spanning various categories, including travel and lifestyle, this credit card caters to individuals seeking a comprehensive and versatile credit card solution. The opportunity to have the annual fee waived off by meeting the minimum spending requirement adds further value for frequent card users.

However, it is important to note that the reward rate of the Elite SBI Card may not be as competitive as some other premium cards in the market, making it less favorable for individuals who prioritize earning rewards. Additionally, the high annual fee may be a deterrent for those unwilling to commit to the associated cost.

When considering the SBI Elite Credit Card, it is crucial to evaluate your spending patterns, lifestyle preferences, and financial goals to ensure that the card’s advantages align with your individual needs. By carefully weighing the benefits and disadvantages, you can make an informed decision and determine if this premium credit card is the right fit for you.

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Author: Vedanti KiranVedanti is a female finance writer, currently pursuing her studies at Hansraj College. She has a passion for writing and travelling, and her articles on the stock market, finance, investment, and cryptocurrency are well-researched and informative. With her unique perspective on the world of finance, Vedanti is a go-to source for those seeking insights into the world of finance.

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