SBI AURUM Credit Card – Benefits, Fees & Eligibility

Introduction

The SBI AURUM Credit Card, issued by SBI Card, marks the bank's entry into the super-premium credit card segment. Designed to complement an elegant lifestyle, this metallic card offers a range of exclusive privileges, including complimentary memberships to luxury programs like Club Marriott and digital subscriptions to The Wall Street Journal and Mint. It also provides significant welcome benefits with 40,000 reward points and extensive golf privileges.

Welcome Benefits

• Receive 40,000 Reward Points worth ₹10,000 upon payment of your first annual fee.
• Enjoy a complimentary 1-year Club Marriott Membership.
• Get complimentary 1-year digital subscriptions to The Wall Street Journal and Mint.
• Access a complimentary 1-year membership to Inflection Point Venture (IPV), worth ₹29,382, embracing the role of an Angel Investor.

Fees

• Joining Fee: ₹9,999 + GST
• Annual Fee: ₹9,999 + GST
• Spend-Based Waiver: The annual membership fee is waived off on annual spends of ₹12,00,000 in the previous anniversary year.
• Rewards Redemption Fee: ₹99 + applicable taxes per redemption request.
• Foreign Currency Markup: 1.99% of the transaction amount.
• Interest Rates: 3.75% per month (45% per annum).
• Fuel Surcharge Waiver: 1% fuel surcharge waived off at all petrol pumps in India. Applicable on transactions between ₹500 and ₹4,000, exclusive of GST & other charges. Maximum surcharge waiver of ₹250 per statement cycle, per credit card account.
• Cash Advance Charges: 2.50% of the withdrawn amount, subject to a minimum charge of ₹500.

Rewards

• General Rewards: Earn 4 AURUM Reward Points (ARP) on every non-fuel spend of ₹100.
• Milestone Vouchers:
  • ₹1,500 Tata CliQ voucher on monthly expenditure of ₹1 Lakh.
  • ₹5,000 Tata CLiQ Luxury voucher on annual spends of ₹5 Lakh.
  • ₹10,000 Taj Voucher on annual spends of ₹10 Lakh.
  • ₹20,000 Apple vouchers on annual spends of ₹20 Lakh.
• Movie Benefits: Get 4 free movie tickets each month from BookMyShow (maximum value of each ticket capped at ₹250). You can book a maximum of 2 tickets at a time, with a 24-hour cooling period before the next booking.
• Dining Benefits: Get 15% off (up to ₹750) on orders above ₹4,000 with District by Zomato.
• Travel Benefits:
  • One complimentary spa access each quarter at select airports.
  • Flight cancellation benefits: Cover of ₹3,500/ticket on refundable tickets and ₹3,000/ticket on non-refundable tickets. These benefits can be availed a maximum of two times a year, excluding taxes and convenience charges.
• Airport Lounge Access:
  • 4 complimentary domestic airport lounge access per quarter under the Visa/MasterCard Domestic Lounge Program for primary and add-on cardholders.
  • Unlimited international airport lounge access with complimentary membership of the Dreamfolks airport lounge program, including one complimentary guest visit each quarter.
• Golf Privileges:
  • Enjoy 16 complimentary golf rounds per calendar year (4 per quarter).
  • Master the greens with 12 complimentary golf lessons per calendar year.
• Insurance Benefits:
  • Travel insurance coverage of ₹1 Lakh for flight delay and loss of goods or baggage during travel.
  • Air accidental death coverage of ₹3.50 Crore.
  • Lost Card & Fraud Protection coverage of ₹10 Lakhs.

Rewards Redemption Guide

• Redemption Portal: Reward Points can be redeemed for gift vouchers, flight bookings, and hotel reservations on the dedicated AURUM Rewards portal.
• Reward Point Value: 1 AURUM Reward Point (ARP) = ₹0.25 (or 4 Reward Points = ₹1), resulting in a reward rate of 1% on ₹100 spent.
• Point Transfer: You can transfer your Reward Points to various flight/hotel loyalty programs:
  • 5 Reward Points = 1 Maharaja Club Point
  • 5 Reward Points = 1 Club ITC Green Point
  • 5 Reward Points = 1 Avios Point
  • 4 Reward Points = 1 Air Asia Point
• Redemption Fee: A reward redemption fee of ₹99 (plus applicable taxes) is chargeable per redemption request.
• Point Expiry: AURUM Reward Points never expire.

Card Eligibility Criteria

The SBI AURUM Credit Card is an invite-only offering. While there are no pre-defined eligibility criteria for direct application, general requirements include:

• Age: Minimum age of 21 for salaried individuals and 25 for self-employed individuals.
• Annual Income: Should be ₹40 Lakhs or above.
• Credit Profile: Applicants should have an excellent credit score and a strong relationship with SBI Card.

Card Review

The SBI AURUM Credit Card is a super-premium offering designed to compete with top-tier cards like HDFC Bank Infinia and American Express Platinum Charge. It provides a plethora of best-in-class privileges, including 24x7 concierge service, secretarial access, unlimited international airport lounge access, and comprehensive flight cancellation cover.

Pros

• Generous welcome benefit of 40,000 Reward Points worth ₹10,000.
• Valuable complimentary memberships (Club Marriott, WSJ, Mint, IPV).
• Attractive milestone benefits with gift vouchers from premium brands like Tata CLiQ Luxury, Taj, and Apple.
• Extensive golf privileges with complimentary rounds and lessons.
• Strong travel benefits including unlimited international lounge access, spa access, and flight cancellation cover.

Cons

• The basic reward rate of 1% is considered modest for a card with such a high annual fee in the super-premium segment.
• Earlier subscriptions like Amazon Prime, Zomato Gold, and Discovery Plus, which were previously offered, have been discontinued.

Verdict

The SBI AURUM Credit Card can be highly rewarding if used as a primary card, allowing cardholders to achieve the specified spending milestones and unlock exclusive gift vouchers. However, for individuals who already manage multiple credit cards and distribute their expenses, the card's value proposition might diminish. It is advisable to compare its benefits with those of competing super-premium cards before making a decision.

Important Product Details

• Metallic card design with an elegant black finish and golden stripes.
• 40,000 Reward Points as a welcome benefit, equivalent to ₹10,000.
• Annual membership fee waived on annual spends of ₹12,00,000.
• Earn 4 Reward Points per ₹100 spent (1% reward rate).
• Complimentary memberships to Club Marriott, Wall Street Journal, Mint, and Inflection Point Venture.
• Unlimited international airport lounge access and 4 domestic airport lounge access per quarter.
• 4 BookMyShow movie tickets every month (max value ₹250 per ticket).
• 24x7 dedicated concierge service and secretarial access.
• Travel insurance coverage of ₹1 Lakh for flight delay and loss of goods/baggage.
• Air accidental death coverage of ₹3.50 Crore.
• Lost Card & Fraud Protection coverage of ₹10 Lakhs.
• 16 complimentary golf rounds and 12 complimentary golf lessons per year.
• 1% fuel surcharge waiver (max ₹250/cycle) on transactions between ₹500-₹4,000.

Other Details

• AURUM Concierge: Receive top-quality concierge assistance for hotel reservations, flight bookings, gift deliveries, and more.
• AURUM Secretarial Access: Cardholders can authorize a secretary/executive assistant to conduct limited interactions with SBI Card on their behalf.
• Add-on Cards: Empower family members (parents, spouse, children, or siblings above 18) with add-on cards.
• Cash Access: Easy and affordable solution for cash needs, with access from over 1 million ATMs globally through banking partnerships.
• Safe & Secure: Enhanced security against counterfeiting and skimming with a chip and PIN-enabled card.
• Balance Transfer: Transfer outstanding balances from other credit cards to AURUM with low interest rate options.
• FlexiPay EMI: Convert transactions of ₹2,500 or more into easy monthly installments within 30 days of purchase, with low interest rates.
• Encash: Get instant cash through Encash and repay with convenient EMIs.