SBI Card MILES – Benefits, Fees & Eligibility

Introduction

The SBI MILES Credit Card, issued by SBI, is positioned as a travel-centric credit card designed for frequent travelers. It comes with a low joining and renewal fee of ₹1,499 plus GST. This card differentiates itself by offering Travel Credits as rewards, which can be redeemed for air miles, hotel points, travel bookings, or various catalog products. Key benefits include complimentary domestic and international airport lounge access, a welcome bonus of 1,500 Travel Credits, and a waiver on fuel surcharges, making it a straightforward and rewarding option for those who travel often.

Welcome Benefits

• Receive 1,500 Travel Credits as a welcome gift upon spending ₹30,000 within the first 60 days of card issuance.

Fees

• Joining Fee: ₹1,499 + GST
• Renewal Fee: ₹1,499 + GST (from the second year onwards)
• Spend-Based Waiver: The annual fee is reversed on spending ₹6 Lakhs or more in a membership year. This fee reversal is preconditioned on the fee being levied during the renewal cycle.
• Rewards Redemption Fee: ₹99
• Foreign Currency Markup: 3% of the amount transacted on international usage.
• Interest Rates: 3.75% Per Month (equivalent to 45% Per Annum)
• Fuel Surcharge Waiver: 1% fuel surcharge waiver on fuel transactions between ₹500 to ₹4,000 across all petrol pumps in India. The maximum monthly benefit under this waiver is ₹250 per statement cycle, per credit card account.
• Cash Advance Charges: 2.5% of the cash advance amount or ₹500, whichever is higher.
• Add-on Card Fee: Nil

Rewards

• Rewards Rate

  • Earn 2 Travel Credits for every ₹200 spent on travel expenses.
  • Earn 1 Travel Credit for every ₹200 spent on other purchases.
  • Travel Credits do not accrue on purchases made in categories such as fuel, EMI transactions, wallet uploads, property rental, utilities, and insurance.

• Travel Benefits

  • Receive a complimentary Priority Pass Membership worth 99, which is complimentary for the first two years, providing access to over 1,000 international airport lounges worldwide. Post complimentary visits, a usage fee of 27 plus applicable taxes will be charged per Priority Pass lounge visit.
  • Enjoy 4 complimentary domestic airport lounge visits per year, with a maximum of 2 visits per quarter.
  • Earn 1 additional domestic airport lounge visit for every ₹1 Lakh spent, over and above the complimentary visits, with additional lounge visits capped at 8 per membership year.

• Milestone Benefits

  • Receive 5,000 bonus Travel Credits on achieving annual spends of ₹5 Lakhs.
  • The annual fee is reversed on annual spends of ₹6 Lakhs or more in a membership year.
  • Earn 1 additional domestic airport lounge visit for every ₹1 Lakh spent, over and above the complimentary visits, capped at 8 visits per membership year.

Rewards Redemption Guide

• Travel Credits earned can be redeemed for air miles, hotel points, travel bookings, or products from the Shop & Smile Product Catalog.
• Redemption Value:
  • 1 Travel Credit = ₹1 (when redeemed for Air Miles / Hotel Points)
  • 1 Travel Credit = ₹0.50 (when redeemed for Travel Bookings)
  • 1 Travel Credit = ₹0.25 (when redeemed for Shop & Smile Product Catalog products)
• Travel Credits are valid for two years from the date of accrual.

Card Review

• Overall Verdict: The SBI MILES Credit Card is an excellent choice for individuals who travel frequently and wish to maximize rewards on their travel-related expenses. With a moderate annual fee, it offers a strong value proposition through its travel credits, comprehensive lounge access benefits, and milestone rewards. It serves as a reliable travel companion, ensuring rewarding experiences throughout your journeys.
• Pros:
  • High earning rate of Travel Credits, particularly on travel expenditures.
  • Includes complimentary access to both domestic and international airport lounges.
  • Features a competitive foreign currency mark-up charge of 3% on international transactions.
  • Offers an annual fee waiver based on a reasonable annual spend threshold.
  • Provides valuable milestone benefits, including bonus travel credits and additional lounge access.
• Cons:
  • Lacks specific offers or benefits related to movies or dining.
  • Does not include any insurance benefits.

Important Product Details

• Complimentary Priority Pass Membership worth $99, offering access to over 1,000 airport lounges worldwide.
• 4 complimentary domestic airport lounge visits per year (maximum 2 visits per quarter), with the potential to earn additional visits up to 8 per year based on spending.
• Earn 5,000 bonus Travel Credits upon achieving annual spends of ₹5 Lakhs.
• Receive 1,500 Travel Credits as a welcome gift.
• Annual fee waiver available on annual spends of ₹6 Lakhs.
• Low foreign currency mark-up of 3% on international transactions.
• 1% fuel surcharge waiver on transactions between ₹500 and ₹4,000, with a maximum waiver of ₹250 per statement cycle.

Other Details

• Best Suited For: Travel.
• Reward Type: Reward Points (referred to as Travel Credits).
• Contactless Advantage: Enables quick and secure "Tap & Pay" transactions for everyday payments, reducing the need to hand over the card.
• Global Acceptance: Accepted at over 24 million outlets globally, including 3,25,000 outlets in India, wherever MasterCard / RuPay are accepted.
• Cash Access Across the World: Allows cash withdrawals from over 1 million ATMs worldwide.
• Flexipay: Convert eligible purchases of ₹2,500 or more into easy monthly EMIs.
• Add-on Cards: Primary cardholders can request additional cards for family members (parents, spouse, children, or siblings above 18 years of age). The primary cardholder is responsible for all charges incurred on add-on cards.
• Safe and Secure: The card is chip and PIN enabled, providing enhanced security against counterfeiting and skimming.
• Easy Bill Pay Facility: Conveniently pay electricity, telephone, mobile, and other utility bills.
• Balance Transfer on EMI: Transfer outstanding balances from other banks’ credit cards to your SBI MILES Credit Card at a lower interest rate and repay in easy EMIs.
• All card features and benefits are subject to the Most Important Terms & Conditions and general Terms & Conditions.