SBI credit card: Everything you wanted to know

[ecis2016.org] Here is all you want to know about SBI credit cards, and their uses.

State Bank of India (SBI) offers its customers a variety of credit card options, each tailored to the specific financial requirements of the cardholder. The use of an SBI card may earn you points in a variety of categories, including eating, purchasing, and travel. You may also take advantage of incentives like rebates and reduced interest rates, etc. For those seeking a new card, a glance at SBI’s offerings will help you narrow down your options.

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Benefits of SBI cards

Customers may choose between premium, shopping, and travel-related SBI cards, as well as regular, classic, and unique SBI credit cards. Each card is distinctive, with benefits such as free personalized services, theatre tickets, settlement systems, priority boarding, Flexi EMI payments, loyalty points, and online payment services, among others.

Advantages of SBI cards

Reduce your interest costs

There are low-interest rates for transferring balances from other credit cards to the SBI card. Transferring your balance from one card to another might save you from accruing interest charges on a variety of cards.

Automatic bill payments

Using your credit card to pay for your utilities in instalments eliminates all inconveniences. The Easy Bill Play option allows you to fulfil monthly obligations on time through automatic bill payments. You can sign up and pay for your utility bills, as well as your premiums and deductibles, phone, and electric bills. 

Cover your assets with insurance

In the event that your card is lost, stolen, or used fraudulently, SBI, in conjunction with CCP, provides full protection. Cardholders are entitled to a variety of benefits, including free replacement of stolen cards, urgent travel assistance, protection against financial fraud, and more.

Easy accessibility to your account

You have the option of logging into your SBI Card profile through the web or via a mobile app. You may pay your bills, check your balance, and more at any time, from any location.

Funds for your urgent monetary needs

If you find yourself in a situation where you urgently want more cash, your SBI card might be of great assistance to you. You will get speedy access to your assets if you use the SBI Encash feature. With Encash, you have the option of having a sum that is either over or within your available credit deposited into your account within forty-eight hours. It is possible to repay the money over a period of 12, 24, or 36 months, depending on your preference.

SBI Lifestyle Credit Cards

SBI Card ELITE

• Up to 50,000 additional Bonus Reward Points may be earned annually.
• You will get 10 Reward Points for every Rs.100 paid on dining out, shopping at department shops, or purchasing groceries.
• 2 Bonus Points for every rupee (Rs.100) paid on other purchases.
• A low markup on the foreign currency of just 1.99% is applied.

Doctor’s SBI Card in Partnership with IMA

• This is the exclusive credit card linked with the Indian Medical Association.
• There is up to Rs.20 lakh professional indemnity insurance policy available.
• 5% more reward points on National Doctor’s Day purchases (1st July).
• Medical supplies, overseas purchases, and trip reservations are eligible for 5x Reward Points.

SBI Rewards Cards

• SBI Card PRIME

• You will get 20 Loyalty Points for every hundred rupees that you spend on setting up automatic payments for your utility bills.
• Movies, grocery, eating, and department store purchases all earn you 10 Reward Points for each Rs.100 spend in these categories.
• Annual fees are waived if you spend at least Rs.3 lakh throughout the year.
• Complimentary participation in Trident Privilege Red Tier Program

Apollo SBI Card

• Receive a discount of up to 10% on various Apollo services.
• Get three times the amount of Loyalty Points for every one hundred rupees that are invested on any Apollo product.
• In the event that you spend more than Rs. 90,000 in a single year, your renewal charge will be waived.
• An exemption from the 1% fuel surcharge over the whole of India.

SBI Tata Platinum Card

• Croma offers a discount of 2% on all purchases made via their website (in-store and online).
• You may get up to 5% of the value of your purchases back at Tata shops.
• Earn three times as many Empower Points when you shop at grocery shops, restaurants, department stores, or engage in international business.
• 1 Empower Point will be awarded for every one hundred rupees that are invested at other retail establishments.

SBI Tata Titanium Credit Card

• Croma offers a value back of 1.5% on all purchases made there.
• Three times the normal amount of Empower Points will be awarded for purchases made at department shops and for groceries.
• In exchange for a minimum annual expenditure of one lakh rupees, annual fees would be waived.
• You might get up to 5% of the value back on purchases made at a Tata store.

SBI Shopping Credit Cards

• Simply click SBI Card

• 10 times the standard amount of Reward Points will be awarded for purchases made on some e-commerce websites, including Amazon, Lenskart, and Netmeds, amongst others.
• 5 times the reward points for any other online spending you do.
• Free 2,000 rupees worth of vouchers to use online when you spend between 1 and 2 thousand rupees online in a single year.
• In exchange for a yearly expenditure of Rs. 1 lakh, the annual charge would be waived.

• SimplySAVE SBI Card

• 10 Bonus Points will be awarded for every hundred rupees spent on eating out, going to the movies, or shopping at department shops.
• 1 Reward Point will be awarded for every Rs.100 spent on other purchases.
• Spend a minimum of Rs. 2,000 within the first 60 days of having your card approved to earn a bonus of 2,000 Reward Points.
• Free of the standard 1% fuel cost at any gas station.

• SBI Unnati Credit Card

• You will earn one Bonus Point for every hundred rupees you spend using this card.
• If you spend at least Rs. 50,000 in a calendar year, you will get a payback of Rs.500.
• Spending between Rs. 500 and Rs. 3,000 would not be subject to the 1% fuel fee.

• Central SBI Select Card

• 10 Select Points will be awarded for every hundred rupees spent in Central shops.
• 5 Select Points will be awarded for every hundred rupees spent on eating out or going to the movies.
• For all other retail transactions, except those of gasoline, you will get 1 Designate Credit for every Rs.100 spent.
• As a thank-you for joining, you will get an e-gift coupon from Central for Rs.750.

• Central SBI Select Plus Credit Card

• You will get 20 Selected Rewards for every hundred rupees spent at any Central shop.
• 10 Preferred Rewards for every Rs.100 paid on things like eating out and going to the movies.
• You will earn 2 Selected Rewards for every Rs.100 spent on other purchases.
• As a thank-you for joining, you will get an e-gift coupon from Central worth Rs.3,000.

• SBI StyleUP Contactless Credit Card

• When you purchase certain things from the Big Bazaar or Fbb shops, you are entitled to an immediate discount of ten per cent.
• 10 times the standard number of Reward Points may be earned on dining engagements, items purchased at Big Bazaar, and expenses incurred at Food Bazaar and Food Bazaar stand-alone businesses.
• After making the payment for the yearly fee, you will be eligible to get an Fbb gift certificate with a value of Rs.500 within the next 15 days.

SBI Travel Credit Cards

• Etihad Guest SBI Card

• You will earn three Etihad Guest Miles per hundred rupees spent on the Etihad portal.
• You will earn 2 Etihad Guest Miles for each every rupee that you spend outside of the country.
• Other retail purchases earn one Etihad Guest Mile per one hundred rupees spent.
• You may get an immediate discount of up to ten per cent on reservations made directly with Etihad Airways (3% on Economy and 10% on Business class).

• Etihad Guest SBI Premier Card

• After making your first purchase with this card, you will automatically be upgraded to the Etihad Guest Gold tier at no further cost.
• You will earn six Etihad Guest Miles per one hundred rupees spent on the Etihad portal.
• You will earn 4 Etihad Guest Miles per rupee that you spend outside of India.
• A potential savings of up to 10% when redeeming flight miles.

• Yatra SBI Credit Card

• Get a discount of Rs. 1,000 on domestic airline tickets when you book a minimum of Rs.5,000 worth of travel.
• Get a discount of Rs. 4,000 on foreign airline tickets when you book a minimum of Rs. 40,000 worth of travel
• You will get six loyalty points for every 100 rupees spent on eating out, shopping for groceries, going to the cinema, amusement, retail shops, or making purchases from abroad.
• Access to the airport lounges offered by Mastercard in India

• BPCL SBI Credit Card

• 4.25% value back (equal to 13x Reward Points) on petrol transactions made at any BPCL station.
• 3.25% off plus 1%  off on fuel fee for every gallon of gasoline purchased up to four thousand rupees.
• Spending money in grocery stores, department stores, restaurants, or movie theatres will earn you five times as many Reward Points for every one hundred rupees spent.
• Charge for the fuel surcharge fee of approximately Rs.100 per month will not be applied.

• IRCTC SBI Platinum Card

• When you book certain train tickets on the IRCTC website, you may earn reward points equal to up to 10% of the value of the ticket.
• 1 point of loyalty will be awarded for every 125 rupees spent on retail items that do not include gasoline.
• When you order your train tickets via www.irctc.co.in, you may avoid paying the 1% transaction costs that are usually required.
• The removal of the one per cent fuel surcharge at all of India’s gas stations.

• SBI Mumbai Metro Credit Card

• Your Mumbai Metro card will be automatically reloaded with Rs. 200 if the balance falls below Rs. 50.
• If you spend Rs.100 on an automatic top-up for your metro card, you will get 10 Reward Points.
• You will get 10 bonus points for every hundred rupees that you spend on things like groceries, going to the movies, or eating out.
• Other purchases get one bonus point for every one hundred rupees spent on them.

• Chennai Metro SBI Card

• The card may be used both as a credit card and a transport card for the Chennai metro system.
• You will earn ten times the normal number of Loyalty Points for every one hundred rupees spent at restaurants, grocery stores, or department stores.
• Other purchases get one bonus point for every one hundred rupees spent on them.
• On purchases of gasoline ranging from Rs. 500 to Rs. 3,000, the fuel fee will not be applied.

• Air India SBI Signature Card

• You may earn up to 30 Loyalty Points for every hundred rupees paid on Air India bookings that are booked using either the Air India online or the Air India app. 
• This card will earn you 4 Loyalty Points per Rs.100 that you spend.
• Up to one hundred thousand more reward points per year.
• You may exchange your Reward Points for Air India Miles at a rate of 1 point for every mile.

• Air India SBI Platinum Card

• You may earn up to 15 Cash Rewards for every Rs.100 spent on Air India bookings when you book them via the airline’s website or mobile app.
• 2 Bonus Points will be awarded for every Rs.100 purchased using this card.
• Up to 15,000 more reward points are added to your account each year.
• Membership in the Air India Frequent Flyer Program at no additional cost to the passenger.

SBI Banking Partnership Cards

• Karnataka Bank SBI Platinum Credit Card

• 5 times the standard number of Reward Points may be earned on all purchases made at foreign markets, dining establishments, department shops, and grocery stores.
• Other purchases get you 2 reward points for every 100 rupees you spend.
• When your yearly expenditures exceed Rs. 4 lakh or Rs. 5 lakh, you will be eligible to get an e-Gift Voucher worth Rs. 3,000 from any of our partners.

• South Indian Bank SBI Platinum Credit Card

• Other purchases get you 2 reward points for every 100 rupees you spend.
• Enjoy a subscription to Priority Pass completely free of charge.
• As a thank-you present, you’ll get an online shopping certificate of 3,000 Indian Rupees from one of the following retailers: Bata/Hush Puppies,  Aditya Birla Fashion, Pantaloons,  Shoppers Stop, or Yatra.com.

• Federal Bank SBI Platinum Credit Card

• You may choose to get a complimentary e-Gift Voucher worth Rs.3,000 from any one of the following brands, including Bata/Hush Puppies, Pantaloons, Shoppers Stop, Aditya Birla Fashion, or Yatra.com.
• More awards will become available after your yearly spending reaches 4,000 and 5,000 rupees, respectively.
• You are entitled to two complimentary visits to the Domestic Airport Lounge per quarter in India.

• Federal Bank SBI Credit Card

• You will be awarded 2,000 additional Reward points after making a purchase of Rs. 2,000 or more during the first sixty days of acquiring the card.
• When the total value of your transaction is between Rs. 500 and Rs. 3,000, you are eligible for a fuel fee waiver of 1% at any gas station you choose.
• You may earn a value back of up to 2.5% when you shop at departmental and grocery shops since you get 10X Bonus Points for every Rs.100 that you spend.

• Karur Vysya Bank SBI Credit Card

• 2.5% value back (equal to 10x Loyalty Points) in every Rs.100 invested on items purchased at grocery shops and retail locations.
• You will get one bonus point for every one hundred rupees you spend on other purchases.
• Spend more than Rs. 2,000 during the first 60 days of receiving your card, and you will get a bonus of 2,000 Reward Points.
• If you purchase between Rs. 500 and Rs. 3,000 at any filling station in India, the 1% fuel levy will not be applied to your purchase.

• Karur Vysya Bank SBI Platinum Credit Card

• Transactions made in foreign countries, restaurants, grocery stores, and department stores earn five times the standard reward points.
• Other purchases get you 2 reward points for every 100 rupees you spend.
• Priority Complimentary Pass, a  membership pass with a value of $99.
• By participating in the Visa Airport Lounge Access programme, cardholders get exclusive access to Visa lounges in India and other countries.

• OBC SBI Platinum Credit Card

• You will get 2 Reward Points for every Rs.100 spent on other purchases.
• When you spend between Rs. 4 lakh and Rs. 5 lakh annually, you will get an e-voucher for any of the participating retailers in the amount of Rs. 3,000.
• Complimentary accessibility to Visa terminals in India and other countries, as well as participation in the Priority Pass programme.

• OBC SBI Credit Card

• You may earn up to 2.5%of the value back, equal to 10 times the number of Reward Points, for every one hundred rupees you spend in supermarkets or at departmental shops.
• You will get one Bonus Point for every one hundred rupees spent using the card on other transactions.

• Bank of Maharashtra SBI Credit Card

• 2.5% of value back in terms of 10x Cash Back for every Rs.100 purchased in departmental shops or grocery stores.
• Other purchases get one bonus point for every one hundred rupees (Rs.) paid on the purchase.
• When you purchase between Rs. 500 and Rs. 3,000 on petrol, the 1%fuel fee will not be applied to your purchase.
• If you spend more than one hundred thousand rupees in a calendar year, your annual membership fee will be refunded.

•  Bank of Maharashtra SBI Platinum Credit Card

• In India, you are entitled to two free trips to the Domestic Airport Lounge each quarter.
• You will get two loyalty points for every one hundred rupees you spend across all categories.
• Welcome e-Gift Voucher for the amount of Rs.3,000 redeemable at Bata/Hush Puppies, Pantaloons, Aditya Birla Fashion,  Shoppers Stop, or Yatra.com.

Fees and costs with SBI Card

Types of expenses	Charges
Credit card financing fees	3.5% on all SBI Credit Cards that are not secured (except Shaurya)
Minimum monthly payment due	5% of the outstanding balance or Rs.200 plus taxes, whichever is more
Interest charge duration	20-50 days
Cash advance financing fees	There is a 2.5% or Rs.500 charge imposed on all domestic cash withdrawals (whichever is higher)
Statement retrieval	More than two months old, each statement costs Rs.100.
Delayed payments fee	Nil, Up to Rs.500.  400 Rs. from Rs.501 to Rs.1000 750 Rs. from Rs.1001 to Rs.10,000  950 Rs. from Rs.10,001 to Rs.25,000  1100 Rs. from Rs.25,001 to Rs.50,000 1300 Rs. in excess of Rs.50,000
Over limit fee	2.5%
Card exchange charge – domestic	100-250 Rs.

Documents for application

• Identity Proof (any one of the following) 

• PAN card
• Aadhaar card
• Driving licence
• Ration card
• Voter’s ID card
• Passport

• Address Proof (any one of the following) 

• Electricity bill
• Passport
• Ration card
• Aadhaar card
• Telephone bill
• Rental agreement

• Income certificate for self-employed individuals 

• Updated Income Tax Returns (ITR)
• Balance sheet, audit evidence, or loss declaration
• Company financial reports

• Income certificate for salaried employees 

• Recruitment letter
• Updated salary statement
• Payroll certification

To apply for a credit card with SBI, what is the basic income required?

The minimum annual income requirement to be eligible for a State Bank of India credit card is different for each card. The minimum wage criterion would increase proportionally with the premium nature of the card.

Online application procedure for SBI credit card

You may submit an application online for a card via the SBI website. Follow the given steps: 

• Go to the official SBI portal.
• Move the pointer to the tab labelled “credit cards”, and then click on the button labelled “Help Me Find a Card.”
• Utilise the Simplifier tool in order to locate the card that best suits your needs.
• Take some time to get familiar with the card’s many features and perks.
• Simply hit the “Apply” button.
• Do not forget to provide your name and phone number.
• You will be contacted by a bank representative to go forward with your application.

You may also submit your application for a credit card in person at any local SBI bank. You will be required to visit the partner branch in order to finish the application procedure.

Procedure to track the application status

• Go to the official SBI portal.
• Under the tab labelled “Apply,” you will see a link labelled “Track My Application.”
• To get the specifics, please enter either your application or registration number
• In order to keep track of your application, you may also enter your birth date.

In order to receive an SBI credit card, how much time does the process take?

It is possible that the bank may take up to 21 business days to complete your registration for an SBI credit card once you have sent it over together with the necessary supporting documentation. It is possible that the process will take much longer if any required papers are missing or if there are other problems with the application.

While you wait, you may check the progress of your credit card application by using the ‘Track Application’ option that is accessible on the SBI website.

SBI Balance Transfer

You can utilise your SBI card to settle the outstanding balances with your other credit cards. You will be charged a much lower interest rate if you transfer any remaining balance from other cards to the SBI card. The function that allows you to move your balance to another card may help you reduce the amount of interest you pay on all of your cards. 

Payment of SBI Credit Card Bill

Read also : What is the PAN card correction form?

SBI provides you with a number of different options to assist you in making timely payments on the SBI credit card account. You have the option of paying your bill either in person or SBI card online.

• Online Bill Payment 

• Net banking 

Regarding payments made from banks other than SBI, you will need to use SBIN00CARDS as the IFSC Code.

• Paynet

Make payments using the internet banking service provided by your bank on the SBI website.

• Visa Credit Card Pay

You may use the online banking option to pay the bill associated with your SBI Visa card.

• Online SBI

Pay off your obligations by logging onto the SBI portal using the SBI account you use to make payments.

• Electronic Bill Payment

This option for making payments online is available to customers of SBI, Bank of India, Citibank, and Indian Overseas Bank and may be accessed by ATM, mobile app, or internet banking.

• National Automated Clearing House

Because this is an automatic mode of payment, the monthly fees you are responsible for will be withdrawn straight from your bank account.

• SBI Auto Debit

With the auto debit option, you may take advantage of the ease of making payments straight from your SBI account.

• Debit Card

Your debit card may be used to make required monthly payments. SBI accepts payments made using debit cards issued by top financial institutions.

• Mobile Bill Payment 

• SBI App 

SBI’s mobile app allows customers to pay their credit card balance while on the move.

• YONO 

SBI’s YONO app makes paying bills a breeze. To make payments, you may use the YONO app or the YONO.com website.

• UPI Payment 

To pay your credit card bill, use the BHIM SBI Pay app, which is compatible with both Android and iOS devices. With UPI, you may move money across bank accounts on your smartphone.

• Offline Bill Payment 

• SBI ATM

You may use your debit card to make your monthly payment at all the other SBI ATMs.

• Electronic Drop Box

You will get an immediate receipt if you deposit your cheque in an automated drop box in your neighbourhood.

• Manual Drop Box

Read also : Post Office Savings Scheme in 2022: All you need to know 

You may use any of the collection points located across India to submit your cheque for the deposit.

• Payment at Bank Branch 

If you need to pay your credit card bill, you may do so at any State Bank location.

How to collect and use reward points?

You may collect Shop-and-Smile Loyalty Points with most SBIcards, and these points are valid for a period of two years after they are earned. Make purchases with your card so that you may earn points for each transaction you complete. It is essential to bear in mind the distinct spending categories in which you are able to collect the greatest number of Reward Points.

Once you have acquired enough points, you will be able to trade them in for a variety of special prizes, including gift cards and merchandise discounts. You may redeem your points either via the SBI online or via SBI mobile app. You may exchange the points you’ve earned for all the other items in the collection if you log in with your usernames and passwords.

You may redeem your points by calling the SBI card support at 18601801290 or 39020202 using the regional STD code or by writing to them. Your gifts will be sent to the location where you registered.

Does SBI have a mobile application for its credit cards?

Yes, SBI has its own special mobile payment solution called “SBI Card,” and it’s accessible on iOS as well as Android. After downloading the app, you will be able to register, check the data of your credit card account, make transactions, submit requests pertaining to your card, and submit requests for additional SBI products, among other things.

Is it possible to redeem the reward points on the SBI credit card for cash?

No. However, there are several credit cards offered by SBI that would let you settle the balance on your card using the loyalty points you have acquired. You can exchange your loyalty points against card overdue with some SBI credit cards, such as the SBI Card Prime, the SBI Card Elite, and the SBI SimplySAVE Advantage. On each of these cards, you can exchange one reward point for one rupee.

What kind of purchases cannot earn Reward Points with my card?

There are certain kinds of activities that are not qualified to earn reward points, despite the fact that you may earn points for the majority of the things that you buy. These may involve things like transferring balances, getting cash advances, disputing transactions, and paying financing charges, among other things.

Is it possible to use the card to get cash from an ATM?

You may make a cash advance using your credit card. You are limited to withdrawing no more than Rs.15,000 each day using your card. The maximum amount of cash that may be withdrawn from your SBI account is equal to 80% of your entire credit limit. It is essential that you keep in mind that getting a cash advance will result in a service cost of up to 3.35% every month.

How should I use my SBI credit card when travelling abroad?

You need to make sure that your credit card may be used for purchases made in other countries before you go. Sign into your SBI account, and the foreign credit limit that’s been placed on your card will become active. 

What fees do I have to pay when making overseas purchases with my SBI credit card?

Transactions using foreign currencies are subject to a mark-up charge of 3.5% in addition to any relevant taxes. When travelling outside of India, it is crucial to keep in mind that spending Indian rupees will result in more expensive purchases than using other currencies. It is recommended that you utilise the currency of the nation to which you are travelling.

What steps should I take if I lose or misplace my card?

In the event that your card is misplaced or stolen, you are required to promptly inform the bank. In order to prevent your card from being used in suspicious purchases, the financial institution will block it.

How can I cancel the SBI credit card?

If you wish to deactivate or cancel your SBI card, you may do so by calling the bank, writing to them, or contacting their card helpdesk. Your bank account will be closed as soon as you submit a request to have it closed to the institution. Additionally, the termination of any add-on cards that were connected to your account will take place at the same time. Keep in mind that the only way for your account to be terminated is if you have fully paid all of the dues associated with it. 

How to reach SBI customer service?

If you still have any questions or concerns regarding your card, you may get help from SBI’s customer service department. You may get in touch with the bank by using any one of the following methods.

• Twitter
• Call customer care- 1800 1234/ 1800 425 3800/ 1800 2100
• IRCTC SBI credit card helpline
• SMS
• Fax
• E-mail- gm.customer@sbi.co.in
• Missed call
• Letter to the bank

Source: https://ecis2016.org/.
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Source: https://ecis2016.org
Category: Must Knows