Editor’s note: This is a recurring post, regularly updated with new information and offers. Last Updated 24th April 2024.
SBI cards have recently launched three miles-focussed credit cards. The variants are named SBI Miles, SBI Miles Prime and SBI Miles Elite which is the topmost version.
Here’s everything you wish to know about the base variant called the SBI Miles Credit Card.
Contents
Charges and Welcome Benefits
| Joining Fees | ₹1499 + GST |
| Welcome Benefits | 1500 Travel Credits* |
| Renewal Fees | ₹1499 + GST |
| Renewal Benefits | NIL |
| Renewal Fee Waiver | Spend ₹6L or more in a year. |
- *1500 Travel Credits will be credited on spends of ₹30,000 within 60 days of card issuance.
Just like the other two cards in the lineup, there is no incentive for renewal against the annual fee.
Reward Points Accrual
| Spends Area | Reward Rate |
| Travel | 2 Travel Credits per ₹200 |
| All other Spends* | 1 Travel Credits per ₹200 |
*Except for Fuel, Rental Payments, Utility, Insurance, Wallets and Education.
- Reward points are valid only for 2 years from the date of accumulation
Milestone Benefits
- Get an additional Domestic Lounge visit to Priority Pass lounges over and above the complimentary domestic limits with every spend of ₹1 Lakh maximum of up to 8 visits in a year.
- Earn 5,000 Bonus Travel Credits on annual spends of ₹5 Lakh
Reward Points Redemption
| Modes of Redemption | Value per point | Reward Rate |
| AirMiles/ Hotel Loyalty Points | 1 Travel Credit = Upto 1 Airmile/Hotel Loyalty Point | Up to 1% (Travel) Up to 0.5% (All other Spends) |
| Travel Booking | 1 Travel Credit = ₹0.5 | 0.5% (Travel) 0.25% (All other Spends) |
| Merchandise | 1 Travel Credit = ₹0.25 | 0.25% (Travel) 0.125% (All other Spends) |
- SBI has brought in a host of new transfer partners with a mixed bag of transfer ratios. Some of the partners are eligible for 1:1 whereas others are at 2:1.
We have compiled all the Airmiles transfer partners and Hotel loyalty partners for the SBI Miles Prime credit card. The best FFPs for redemption are Aeroplan, Club Vistara and Flying Blue. For hotels, you can target ALL Accor when it comes to value.
Other Benefits
Airport Lounge Access
Access Via – Credit Card
Complimentary Domestic Limit – 4 Visits/Calendar year within India only for primary cardholder (Maximum 2/Qtr)
Network – MasterCard/Rupay
Access Via – Priority Pass
Complimentary Domestic Limit – Up to 8 Visits/Calendar year for primary as well as guests on every spend of ₹1 Lakh
Complimentary International Limit – NIL
- Priority Pass membership is valid only for the first 2 years.
- If you exceed the 6 Complimentary visits, you will be charged US $27 + GST per visit.
Fuel Surcharge Waiver
1% fuel surcharge waiver max up to ₹500 per month.
Insurance Coverage
- Accidental air death cover worth ₹1 Crore
- Emergency overseas hospitalization: up to ₹15 lakhs
- Lost Card Liability Cover: Upto ₹1 lakh
- Up to 6 flight cancellations per year, each limited to ₹ 3,500
Forex Markup Charges
- FCY Markup Fee: 3%+GST
- Reward Rate: 0.5%
- Net: –2.86% (loss)
TechnoFino Recommends
The card just like the other two in the series is poorly rewarding whether it’s the joining benefits, renewal benefits or the earning rate. The market is loaded with better cards like Axis Atlas which beats even the elite version hands down. The only USP is the spending-based complimentary domestic lounge access to select lounges accessible only via PP which are now exclusive to cards like HDFC Infinia, HDFC Diners Club Black and AMEX Platinum after the devaluation of Priority Passes of Axis Magnus and Axis Reserve.
What are your thoughts about this card? Feel free to share in the comments below.
Chief Editor, TechnoFino.
Personal finance nerd! Physics enthusiast and trainer. When not into Physics, he is minting points and hunting for the next best credit card for himself.