Top SBI Credit Cards for 2024

Top SBI Credit Cards for 2024

One of the biggest and most reputable banks in India, State SBI, provides a variety of credit cards to suit different demands and lifestyles.

SBI offers top-notch options for travel, cashback, and rewards in 2024. Four of the best SBI credit cards in 2024 are: SBI Cashback, SBI IRCTC, SBI Prime, and SBI Simply Save. We'll examine their features, advantages, and disadvantages to help you in making a wise choice.

SBI Simply Save Credit Card:

The SBI Simply Save Credit Card is designed for individuals who want to earn rewards on everyday expenses. This card is perfect for those who frequently spend on groceries, dining, and entertainment.

Key Features:

• Annual Fee: ₹499, waived on annual spending of ₹90,000.

• Rewards Rate: Earn 10x reward points on dining, movies, groceries, and departmental store purchases; 1 reward point per ₹100 on other categories.

• Welcome Bonus: 2,000 bonus points upon spending ₹2,000 within the first 60 days.

• Reward Redemption: Points can be redeemed for various options, including shopping vouchers, travel bookings, and cashback.

Benefits:

• Accelerated Rewards: High reward rate on popular spending categories.

• Fuel Surcharge Waiver: 1% waiver on fuel surcharge across all petrol pumps in India.

• Annual Fee Waiver: Spend ₹90,000 in a year to get the next year's annual fee waived.

Drawbacks:

• Limited Travel Perks: Minimal benefits for frequent travelers.

• Foreign Transaction Fees: High fees on international transactions.

SBI Prime Credit Card:

The SBI Prime Credit Card offers a comprehensive rewards program with additional lifestyle and travel benefits, making it suitable for individuals with varied spending patterns.

Key Features:

• Annual Fee: ₹2,999, waived on annual spending of ₹3,00,000.

• Rewards Rate: Earn 10x reward points on dining, groceries, movies, and departmental store purchases; 2 reward points per ₹100 on all other spends.

• Welcome Bonus: e-gift voucher worth ₹3,000 from top brands.

• Reward Redemption: Points can be redeemed for travel, shopping vouchers, and statement credits.

Benefits:

• Milestone Benefits: Earn e-gift vouchers on annual spending milestones (e.g., ₹100,000, ₹200,000).

• Airport Lounge Access: Complimentary visits to domestic and international airport lounges.

• Global Benefits: Complimentary membership to Club Vistara and Trident Privilege.

• Fuel Surcharge Waiver: 1% waiver on fuel surcharge across all petrol pumps in India.

Drawbacks:

• High Annual Fee: Significant fee which may not be justified for low spenders.

• Complex Rewards Structure: Requires understanding of multiple reward tiers and milestones.

SBI IRCTC Credit Card:

The SBI IRCTC Credit Card is perfect for frequent train travelers, offering significant savings and benefits on railway bookings through the IRCTC website.

Key Features:

• Annual Fee: ₹500, waived on annual spending of ₹50,000.

• Rewards Rate: Earn 10% value back as reward points on AC class bookings through IRCTC; 1 reward point per ₹125 on non-fuel retail purchases.

• Welcome Bonus: 350 bonus points upon spending ₹500 within the first 45 days.

• Reward Redemption: Points can be redeemed for railway bookings and other travel-related expenses.

Benefits:

• Travel Benefits: Up to 10% savings on AC class railway tickets booked through IRCTC.

• Fuel Surcharge Waiver: 1% waiver on fuel surcharge across all petrol pumps in India.

• Transaction Fee Waiver: Waiver on 1.8% transaction charges on railway ticket bookings through IRCTC.

Drawbacks:

• Limited Non-Travel Rewards: Rewards program heavily focused on railway travel.

• Foreign Transaction Fees: High fees on international transactions.

SBI Cashback Credit Card:

The SBI Cashback Credit Card is designed for those who prefer direct savings on their purchases through cashback rewards. It is ideal for users who spend heavily across various categories and seek straightforward benefits.

Key Features:

• Annual Fee: ₹999, waived on annual spending of ₹1,00,000.

• Cashback Rate: 5% cashback on online spends and 1% cashback on all other spends.

• Welcome Bonus: ₹500 cashback on spending ₹3,000 within the first 30 days.

• Cashback Redemption: Cashback is automatically credited to the cardholder’s account.

Benefits:

• Simple Cashback Structure: Easy-to-understand and utilize cashback system.

• Fuel Surcharge Waiver: 1% waiver on fuel surcharge across all petrol pumps in India.

• Annual Fee Waiver: Spend ₹1,00,000 in a year to get the next year's annual fee waived.

Drawbacks:

• No Accelerated Rewards: Lacks higher reward rates on specific categories other than online spends.

• Foreign Transaction Fees: High fees on international transactions.

Comparison Table of SBI Credit Cards:

 

 

Conclusion:

Your spending patterns and lifestyle requirements will determine which SBI credit card is best for you.

For people looking to get the most out of their rewards on regular costs like groceries and meals, the SBI Simply Save Credit Card is ideal.

High-spenders can benefit from the SBI Prime Credit Card's extensive features, which include travel and lifestyle bonuses.

For frequent train travelers, the SBI IRCTC Credit Card is a great option because it offers substantial discounts on train reservations.

Finally, for individuals who prefer to save money immediately on their transactions, the SBI Cashback Credit Card offers simple cash back incentives.

You can select the card that best fits your lifestyle and financial objectives in 2024 by being aware of its characteristics and perks.