SBI Elite Advantage Credit Card

SBI Elite Advantage credit card offers a welcome voucher of rs. 5000 within 15 days of annual fee payment.

In recent times when the world is moving towards being a completely cashless society, people prefer carrying their credit and debit cards instead of loads of cash in their wallets.

To encourage the population to make cashless transactions, however, the banks have introduced multiple schemes and packages to benefit users who use credit cards for their transactions.

Among so many options available today, the SBI ELITE Advantage credit card is the one that seems to be beneficial to a great extent, giving cardholders a chance to save something on every purchase they make.

Want to compare with other credit cards? Visit Compare Credit Cards Benefits.

About the SBI ELITE Advantage Credit Card

Owning the SBI Elite Advantage credit card is one the best things for individuals who spend on things quite frequently.

The annual fee for the card is Rs. 4,999, which acts as a one-time payment to gain ownership of the cards and their accompanying advantages.

The cardholders need to pay Rs. 4,999 as a renewal fee every year to renew or keep the card activated. You gain reward points on every purchase that you make by waving and paying for items.

From enjoying entertainment and travel benefits to receiving loyalty points on the everyday purchases you make, this SBI ELITE credit card offers a whole lot of benefits to credit card users.

If your purchases for a year exceed Rs. 10 lakh, your renewal fee of Rs. 4,999 for the following year would be waived.

Looking for other SBI Cards? SBI Prime Credit Card | SBI SimplySAVE Credit Card | SBI SimplyCLICK Credit Card

Features of SBI ELITE Advantage Credit Card

Fast

The card doesn’t need anyone to be available to get swiped for a transaction to be made. Yes, this SBI cards ELITE Advantage version is fast and easy to use.

The cardholders just need to wave the card in front of the card reader and the transaction automatically occurs.

Convenient

In case you forget to carry cash and you liked something at a shop, you can use this credit card for the purpose. There is no minimum or maximum limit to the expenditure you make.

You can wave this card for everything from buying a needle to highly advanced machinery. Making the payment is convenient enough with this credit card.

Secure

Being a contactless card, this SBI card Elite Advantage version does not need you to hand over this card to swipe on a reader while you are waiting for the payment procedure to get over. You hold it for yourself, wave it, and the transaction occurs.

Hence, there is no chance of misplacement or misuse.

Worldwide Acceptance

This SBI credit card is accepted globally and hence the card users do not need to worry about where they are using it.

It is accepted in more than 24 million outlets around the world, including 3.25 lakh outlets in India.

Fraud Liability Cover

Not every credit card that you use offers coverage against frauds that are likely to happen. The SBI card ELITE Advantage version has it all for you.

The bank offers a complimentary fraud liability cover worth Rs. 1 lakh to the SBI ELITE Advantage credit card. This cover remains valid from 48 hours before the reported loss to 7 days of post-reporting.

Fuel Surcharge Waiver

The SBI card ELITE Advantage option helps you get a 1% surcharge waiver on every transaction worth Rs. 500 to Rs. 4,000 at any petrol pump in the nation.

The maximum surcharge waiver the users are eligible to get is Rs. 250 per statement cycle.

Emergency Card Replacement

The best part is that if your SBI credit card gets damaged, you can get it replaced anywhere in the world without facing any kind of hassle.

Cash Withdrawal

This SBI card ELITE advantage version comes with one more advantage and that is hassle-free cash withdrawal from more than 1 million Visa/MasterCard ATMs around the world.

Add-on cards

When you own the SBI card ELITE Advantage, you are allowed to empower the other members of your family as well.

Yes, this credit card offers you add-on cards for the immediate family members – parents, spouse, children, or siblings, who are 18-year-old or above.

Easy Bill Pay

The payment of utility bills is easy with this credit card. You can pay for electricity, telephone, mobile, DTH, etc. by just waving this credit card.

Flexipay

Buy something expensive using this SBI card ELITE Advantage and pay in installments easily. Y

ou can purchase anything worth Rs. 2,500 or more and convert the amount into easy monthly installments with the help of the Flexipay feature.

Just log in to the bank’s website and convert the amount into EMIs within 30 days of the purchase.

Balance Transfer

If you have your credit card dues to pay off, you can save on the repayments as well using this SBI card ELITE Advantage option. How?

The bank allows you to gather all dues in one place and pay the debts. The best part of the feature is that you can enjoy a lower rate of interest and the repayment can be converted into EMIs so that you can conveniently pay off the debts.

Easy Money

This is one of the most important features of the SBI card ELITE Advantage version as it enables users to get their money at the doorsteps in the form of a draft or check or their cash limit.

Benefits of SBI ELITE Advantage Credit Card

Welcome Offer

As soon as you become the SBI card ELITE Advantage user, you will receive e-gift voucher options. These vouchers are sent to the registered mobile number/email ID within 5 days of the request.

You will be required to choose among the vouchers within 15 days of the payment of annual fees. You can use the code of the e-gift voucher at the brand store for Pantaloons, Hush Puppies/ Bata, and Shoppers Stop.

While using the vouchers for Yatra or Shopper Stop, the code can be redeemed online at the time of purchase.

To redeem Aditya Birla vouchers, users can make purchases at Louis Philippe, Van Heusen, Allen Solly, Peter England, Planet Fashion, and Simon Carter.

Complimentary Movie Tickets

As an SBI ELITE Advantage credit card user, you can enjoy free movie tickets worth Rs. 6000 every year. You will be allowed to book at least two tickers per booking every month. The maximum discount that you are eligible for is Rs. 250 per ticket for two tickets.

Milestone Benefits

The SBI ELITE Advantage card lets users earn bonus reward points of up to 50,000 for purchases worth Rs. 12,500/year.

They are eligible to receive bonus loyalty points worth Rs. 10,000 on purchases ranging from Rs. 3 lakhs and 4 lakhs and also reward points of up to 15,000 on expenditures ranging between Rs. 5 lakhs and 8 lakhs.

ELITE Rewards

These SBI card users get a chance to enjoy 5X reward points on dining, departmental stores, and grocery purchases.

Plus, you can also earn two reward points for each Rs. 100 spend. Through the balance transfer feature, you can pay the outstanding debts and earn reward points. Four reward points would be equal to Re. 1.

International & National Airport Lounge Access

The card users get complimentary membership to the Priority Pass Program worth $99.

They are allowed to enjoy complimentary airport lounge benefits six times and eight times a year both inside and outside India respectively, accounting for (two visits per quarter in a year). The users get access to more than 1000 airport lounges all across the globe.

Complimentary Membership of Club Vistara

You will be eligible for a complimentary Club Vistara Silver membership as well as one complimentary upgrade voucher.

In addition, all SBI credit card user is subject to receive nine Club Vistara reward points for each expenditure of Rs. 100 on Vistara flights.

Trident Privilege Membership

The SBI card users will be free to have the Trident Privilege Red Tier Membership. You will enjoy the 1,500 bonus reward points during the first stay and in addition, you also get Rs. 1,000 as hotel credit. Plus, you will get 1,000 welcome points instantly after registering.

Lowest Forex Markup

The users of this SBI card ELITE get the lowest Foreign Currency Mark-Up Charge of 1.99% on overseas usage. In addition, they receive two reward points on every international transaction of Rs. 100.

Exclusive concierge service

When you own this SBI card, you get dedicated assistance on gift delivery, flower delivery, online doctor consultation, etc.

Eligibility Criteria for SBI ELITE Advantage Credit Card

Though the benefits are many, you can only enjoy them if you are eligible to apply for the SBI ELITE Advantage credit cards.

To know if you qualify, you can check the below-mentioned criteria that make you eligible for making the application:

• You must be between 18 and 70 years of age
• Minimum income for salaried or self-employed individuals should be at least Rs. 60,000 per month
• The add-on cardholder must be above the age of 18 years.
• A credit score of 750 or more to be eligible for the card.

To check the eligibility criteria more accurately, you can:

• Visit SBI’s official website
• On the SBI Credit Cards tab, go to the “Simplyfier” page
• You will be asked questions one by one for the bank to know your personal and professional details, including your income and expense-related information.
• You will be required to select your income range and other options
• After you finish answering all the questions, click on “Show My Card”

Documents Required for SBI ELITE Advantage Credit Card

While applying for this SBI credit card, you need to make sure to accompany the application with the following documents:

• Filled credit card application form.
• A copy of PAN card or Form 60.
• Identity proof – PAN, driving license, Aadhaar Card, etc.
• Income proof – latest payslips, Form 16, IT return copy, etc.
• Residence proof – Passport, Ration Card, electricity bill, Aadhaar, etc.
• Passport size color photographs of the applicant.

However, the State Bank of India might ask for some other document as applicable for advanced verification.

How to Apply for SBI ELITE Advantage Credit Card?

There are two ways of applying for the SBI ELITE Advantage credit cards – one is through the official website of SBI and another is through us – roopya.com.

Using Roopya

1. Go to roopya.com
2. Click on the Credit Cards option from the menu bar
3. Select SBI Bank to be taken to the official website of the bank
4. Select SBI ELITE Advantage credit card
5. Fill in the application form
6. Click Submit
7. Upload the required documents to continue

Using SBI official website

1. Visit the official website of SBI
2. Click on Credit Cards from the menu bar
3. Scroll down and search for SBI ELITE Advantage credit card
4. Click on Apply Now for the same
5. Fill in the application form E-Apply tab, asking for your personal, professional, and other details.
6. Click Submit
7. Upload the required documents to continue

Once you apply with all the documents attached, you will receive an application ID using which you can track your application status.

How to Redeem Reward Points?

As stated above, you receive a number of reward points for your loyalty to the bank and its products. If you are looking forward to redeeming the same. here are the steps that you need to follow:

1. Log in to your SBI Net banking account
2. Click on Redeem Rewards option that will come across on the main page
3. Choose the category from the available options
4. The total loyalty points would be visible on the left pane
5. Enter your city for the delivery of rewards
6. Choose the quantity for the reward
7. Click Add to Cart
8. Click on Place Order

Fee & Charges

1. Joining Fee – Nil
2. Annual Fee – Rs. 4,999 (one-time)
3. Renewal Fee – Rs. 4,999 (per annum to be paid from the second year)
4. Add-on fee – Nil (per annum)
5. Cash advance fee – 2.5% of the amount withdrawn or Rs. 500 for domestic & overseas ATMs
6. Finance charges – 3.50% per month or 42 % per annum
7. Cash payment fee – Rs. 199 + taxes applicable
8. Payment dishonor fee – 2% of the amount payable or a minimum of Rs. 450
9. Late payment fee
10. Upto Rs. 500 – Nil
11. Rs. 501 to Rs. 1, 000 – Rs. 400
12. Rs. 1,001 to Rs. 10,000 – Rs. 750
13. Rs. 10,001 to Rs 25,000 – Rs. 950
14. Rs. 25,001 to Rs. 50,000 – Rs. 1,100
15. Above 50,000 – Rs. 1,300
16. Statement Request Fee – Rs. 100 per statement, which is 2 months old or more
17. Card Replacement Fee – Rs. 100 to Rs. 250
18. Cheque payment charge – Rs. 100
19. Over-limit charges – 2.5% of the over-limit amount or a minimum of Rs. 600
20. Reward Redemption Fee – Rs. 99
21. Foreign Currency Transaction Fee – 1.99%

FAQs

What are the benefits of the SBI ELITE Advantage credit card?

The benefits are:

• As soon as you become the SBI card ELITE Advantage user, you will receive e-gift voucher options on the registered mobile number/email ID within 5 days of the request. You can use the code of the e-gift voucher at the brand store for Pantaloons, Hush Puppies/ Bata, and Shoppers Stop.
• While using the vouchers for Yatra or Shopper Stop, the code can be redeemed online at the time of purchase. To redeem Aditya Birla vouchers, users can make purchases at Louis Philippe, Van Heusen, Allen Solly, Peter England, Planet Fashion, and Simon Carter.
• You can enjoy free movie tickets worth Rs. 6000 every year. You will be allowed to book at least two tickers per booking every month. The maximum discount that you are eligible for is Rs. 250 per ticket for two tickets.
• The SBI ELITE Advantage card lets users earn bonus reward points of up to 50,000 for purchases worth Rs. 12,500/year.
• They are eligible to receive bonus loyalty points worth Rs. 10,000 on purchases ranging from Rs. 3 lakhs and 4 lakhs.
• You get reward points of up to 15,000 on expenditures ranging between Rs. 5 lakhs and 8 lakhs.
• These SBI card users get a chance to enjoy 5X reward points on dining, departmental stores, and grocery purchases.
• The card users get complimentary membership to the Priority Pass Program worth $99.
• You can enjoy complimentary airport lounge benefits six times and eight times a year both inside and outside India respectively, accounting for (two visits per quarter in a year).
• You will be eligible for a complimentary Club Vistara Silver membership as well as one complimentary upgrade voucher.
• Under Trident Privilege Red Tier Membership, you will enjoy 1,500 bonus reward points during the first stay. Plus, you also get Rs. 1,000 as hotel credit. Plus, you will get 1,000 welcome points instantly after registering.
• The users of this SBI card ELITE get the lowest Foreign Currency Mark-Up Charge of 1.99% on overseas usage.
• When you own this SBI card, you get dedicated assistance on gift delivery, flower delivery, online doctor consultation, etc.

What is the credit limit of the SBI ELITE Advantage credit card?

The credit limit of this SBI card is decided by the bank keeping into consideration various factors associated with the one applying for it.

What are the annual charges of the SBI ELITE Advantage credit card?

The annual fee for the card is Rs. 4,999, which acts as a one-time payment to gain ownership of the cards and their accompanying advantages.

The cardholders need to pay Rs. 4,999 as a renewal fee every year to renew or keep the card activated. If your purchases for a year exceed Rs. 10 lakh, your renewal fee of Rs. 4,999 for the following year would be waived.

How good is the SBI ELITE Advantage card?

It is the best card to be used by individuals as it offers fast, convenient, contactless, and secure usage facilities along with many opportunities to gain reward points and the redemption of the same.