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SBI Elite Credit Card Review 2022

SBI Elite Credit card is for the Movie Buffs. If you watch a movie every month, this card is definitely for you. They could have better advertised as 'SBI Bookmyshow credit card' instead of “Elite”. Jokes apart, it gives decent returns in form of cash (statement credit). But the high fees are a big “NONO” for most users, me included.

SBI Elite Credit card exists because

of SBI’s humungous customer base. It is priced as a Super Premium credit card but does not even give International Airport Lounge Access beyond 2 years. I wonder who comes up with such schemes. Loyalty gets you devaluation. However, this same model is followed by IT companies all over India.

Fees and Welcome Offer

  • The fees are ₹ 4999 + taxes= ₹ 5900.

  • You get welcome vouchers (Rs 5000 worth)from reputed brands; the best being Yatra, Pantaloons and Shoppers Stop.

  • The next year’s fees are waived off if annual Spends > ₹ 10 lac.

Too high, but maybe worth it you have the movie bug.

  • SBI notably gives low credit card limits, making your life with this card even tougher.

Complimentary Movie Tickets

  • Just using this benefit, you could get back your entire fees.

  • You get Rs 500 off each month when you book minimum 2 tickets. There is no quota limit, the offer is guaranteed.

  • That is ₹ 6000 annually.

Airport Lounges Complimentary Access

  • Domestic: only 2 per quarter or 8 annually. For comparison HDFC Regalia gives 12 annually and its mostly given as LTF.

  • International: 6 annually via Priority Pass (PP) which will expire in 2 years. For comparison HDFC Regalia gives 6 annually but the PP never expires!

Elite Rewards

  • You get 2 RP for every Rs 100 spent. (0.5% savings)

  • Get 5X Reward Points on Dining, Departmental stores and Grocery Spends. (2.5% savings)

  • No reward points for Fuel and wallet transactions.

  • The RP expire within 2 years.

Reward Redemption

  • Statement credit gives the maximum value of 1 RP = ₹ 0.25

  • You can either call 1860 180 1290 and request for statement credit or use their genuinely amazing website.

  • You can only redeem in multiple of 2000RP (₹ 500). The charges are ₹118 per redemption.

Annual Milestones

The spend Milestone as well as bonus RP are tabulated in the below table.

  • Including RP for the spends, you could get savings higher than 2% which is not bad.

Savings Calculator

This card truly deserves a calculator. As it is difficult to estimate the savings value from multiple sources.

The calculator will help you choose the proper strategy with this credit card. Let us know which should work best for this card.

Better or Similar Cards

There are so many better cards out there.

If you are so into movies , Yes Premia or Yes First Preferred give flat 25% off on "Bookmyshow" and may be considered.




SBI Elite credit card is an expensive credit card with rather poor rewards.

If you plan on maximizing the Movie Offer, this card might just work out for you.

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