SBI Prime Credit Card Review: Pros and Cons in 2024
Is the SBI PRIME Credit Card still worth it in 2024? The short answer is, it depends on your spending habits. In layman terms, the card offers decent rewards, but it may not be the best option available today.
Overview of SBI Prime Credit Card
The SBI PRIME Credit Card, introduced in 2017, was a hallmark of SBI’s premium credit card lineup, known for benefits like milestone rewards, birthday perks, and lounge access. However, with updates in 2021 and 2022, let’s see if it still holds up.For comparison, you can check out the features of the SBI Cashback Credit Card, which might offer better returns for some cardholders.
Card Details
| Feature | Details |
|---|---|
| Type | Semi-Premium Credit Card |
| Reward Rate | 0.5% – 4% |
| Joining Fee | 2,999 INR + GST |
| Renewal Fee | 2,999 INR + GST |
Welcome Benefits
Upon joining, you receive an e-gift voucher worth Rs. 3,000 from popular brands like Bata, Pantaloons, and Yatra.com. The renewal fee is waived off if annual spends exceed 3 lakhs INR.
If you’re looking for better benefits with similar joining fees, you can explore the ICICI Emeralde Credit Card or Axis Magnus Card for premium offerings.
Rewards and Benefits
The SBI PRIME Credit Card offers various types of rewards:
| Spend Type | Reward Points | Reward Rate* |
|---|---|---|
| Regular Spends | 2 RP/100 INR | 0.50% |
| Dining, Groceries, Departmental Stores & Movies | 10 RP/100 INR | 2.5% |
| Birthday Spends | 10 RP/100 INR | 2.5% |
If you’re looking for better benefits with similar joining fees, you can explore the ICICI Emeralde Credit Card or Axis Magnus Card for premium offerings.
Note: Birthday spends are capped at 2,000 reward points annually as of February 2021. Milestone benefits include vouchers worth Rs. 1,000 per quarter and Rs. 7,000 annually at specific spending thresholds.
Additional Perks
The card offers airport lounge access, complimentary club memberships, and even golf benefits on the Mastercard network. However, be cautious if you frequently need the Bookmyshow benefit, as it’s exclusive to Visa cardholders.
Other premium cards like the HDFC Bank Marriott Bonvoy Credit Card might offer better travel perks if lounge access is your priority.
Is It Right for You?
For a spend of around 5 lakhs per year focusing on categories like dining and groceries, the card offers decent returns. At a fee of 3,000 INR, it brings worthwhile benefits if you hit those milestones. But, if you prefer straightforward cashback, options like the SBI SimplyCLICK Credit Card may suit better.
What’s your take on the SBI PRIME Credit Card in its current form? Feel free to share your thoughts in the comments below.
Cardexpert Rating: 3/5
