SBI Card Miles Elite – Benefits, Fees & Eligibility

Introduction

The SBI Miles Elite Credit Card, issued by SBI Card, is positioned as the most premium offering within their "Miles" credit card series, specifically designed for frequent travelers. It offers generous rewards on travel-related purchases, which can be redeemed as Airmiles, Hotel Points, or for travel bookings. Key differentiating benefits include a welcome bonus of 5,000 Travel Credits, complimentary domestic and international lounge access, a low foreign exchange markup of 1.99%, and comprehensive travel insurance.

Welcome Benefits

• Get 5,000 Travel Credits on spends of Rs. 1 lakh within 60 days of card issuance.
• These Travel Credits are credited upon payment of the Joining Fee.
• The bonus Travel Credits are useful as they can be redeemed for up to Rs. 5,000 towards any stay or travel bookings.
• Upon reaching the spend threshold, bonus Travel Credits will be received within 15 days.

Fees

• Joining Fee: Rs. 4,999 + taxes
• Renewal Fee: Rs. 4,999 + taxes (per annum, from the second year onwards)
• Spend-Based Waiver: The Annual Fee is reversed on spending Rs. 15 Lakh in a membership year.
• Rewards Redemption Fee: Rs. 99
• Foreign Currency Markup: 1.99% on international usage.
• Interest Rates: 3.50% Per Month (42% Per Annum)
• Fuel Surcharge Waiver: 1% Waiver (Maximum of Rs. 500 Per Month)
• Cash Advance Charges: 2.5% or Rs. 500 (Whichever is Higher)
• Add-on Fee: NIL
• Priority Pass Usage Fee: Post complimentary visits, a usage fee of $27 + applicable taxes is applicable.

Rewards

• Rewards Rate:
  • Earn 6 Travel Credits for every Rs. 200 spent on travel.
  • Earn 2 Travel Credits for every Rs. 200 spent on all other eligible purchases.
• Milestone Benefits:
  • One additional domestic lounge visit for every spend of Rs. 1 lakh.
  • Additional lounge visits are capped at 15 visits in a membership year.
  • 20,000 Bonus Travel Credits on annual spends of Rs. 12 lakhs.
  • Annual Fee reversal on spends of Rs. 15 lakhs in a membership year.
• Lounge Access:
  • Domestic Lounge Access: 8 complimentary visits each year (maximum 2 per quarter). Additional free domestic lounge visits can be gained by achieving milestone spends (one visit per Rs. 1 lakh spend, up to 15 additional visits).
  • International Lounge Access: 6 complimentary visits each year (maximum 2 per quarter).
• Priority Pass Membership:
  • Complimentary Priority Pass membership worth $99 is offered.
  • Provides access to over 1,000 international airport lounges worldwide.
  • The Priority Pass program is complimentary for the primary card for the first two years from card issuance, after which it won't be valid.
• Insurance Benefits:
  • Up to 6 flight cancellations per year, each limited to Rs. 3,500.
  • Lost card liability cover of up to Rs. 1 lakh.
  • Air Accident cover up to Rs. 1 crore.
  • Loss of check-in baggage cover up to Rs. 72,000.
  • Delay of check-in baggage cover of Rs. 7,500.
  • Loss of travel documents cover of up to Rs. 12,500.
  • Baggage damage cover of up to Rs. 5,000.
• Exclusions for Travel Credit Earning: No Travel Credits shall be earned for transactions on E-Wallet Loading, Rent/Property Management, Utility, Insurance, and Quasi Cash.
• Movie & Dining: No additional benefits for movies or dining.
• Golf: No specific golf benefits mentioned.

Rewards Redemption Guide

• Travel Credits can be converted into Air Miles/Hotel Points, Travel Bookings, or redeemed for Catalogue Products (Shop & Smile Product Catalogue).
• Travel Credit Value:
  • 1 Travel Credit = Rs. 1 for Air Mile/Hotel Point
  • 1 Travel Credit = Rs. 0.50 for Travel Bookings
  • 1 Travel Credit = Rs. 0.25 for Shop & Smile Product Catalogue
• Minimum Redemption: A minimum of 2,000 Travel Credits is required for redemption against various options.
• Maximum Redemption: There is no maximum limit for Travel Credit redemption.
• Travel Credit Validity: Travel Credits earned are valid for a period of two years from the date of accrual.
• Partner Airlines for Travel Credit Conversion:
  • Air Arabia: 2:1
  • Air Asia: 1:1
  • Air Canada: 1:1
  • Air France-KLM: 1:1
  • Air India: 1:1
  • Etihad Airways: 1:1
  • Ethiopian Airlines: 2:1
  • Japan Airlines: 2:1
  • Saudia (Saudi Arabian Airlines): 2:1
  • Thai Airways: 1:1
  • Turkish Airlines: 2:1
  • United Airlines: 2:1
  • Qantas Airways: 1:1
  • Qatar Airways: 2:1
  • Spice Jet: 1:1
• Partner Hotels for Travel Credit Redemption:
  • Accor: 2:1
  • IHG® Hotels & Resorts: 1:1
  • ITC Hotels: 2:1
  • Orchid Hotels: 1:1
  • Wyndham Hotels & Resorts: 1:1
  • Shangri-La Group: 6:1
• Redemption Process: Requests for transferring travel credits will take up to 21 days to be processed. Points transfers are final and cannot be refunded or reversed. Once transferred, points will be subject to the terms and conditions of the chosen travel loyalty program.

Card Review

The SBI Miles Elite Credit Card offers a comprehensive suite of travel benefits, including a substantial welcome bonus, extensive lounge access (both domestic and international), a complimentary Priority Pass membership, and robust travel insurance coverage. It is particularly well-suited for frequent travelers who prioritize lounge access and insurance protection during their journeys. The card's availability on the RuPay network further enhances its utility by allowing easy linking to UPI applications for payments. However, the reward-earning rate of 6 Travel Credits for every Rs. 200 spent on travel may be considered less competitive compared to some other premium travel cards in the market. Additionally, it lacks specific benefits for categories like movies or dining. Despite this, its wide array of travel partners for redemption and strong travel-centric features make it a good choice for its target audience.

Important Product Details

• Earn 6 Travel Credits for every ₹200 spent on travel.
• Earn 2 Travel Credits for every ₹200 spent on other eligible purchases.
• 5,000 Travel Credits as a joining benefit on spending Rs. 1 lakh within the first 60 days of card issuance.
• Free Priority Pass membership is offered.
• The SBI Card Miles Elite comes with travel insurance.
• Available on the RuPay network, offering an edge for UPI payments.
• Features Contactless Advantage for easy "Tap & Pay" transactions.
• Globally accepted at over 24 million outlets, including 3,25,000 in India.
• Allows cash access from over 1 million ATMs across the globe.
• Flexipay EMI option to convert eligible purchases of Rs. 2,500 or more into easy monthly EMIs.
• Chip and PIN enabled for enhanced security against counterfeiting and skimming.
• Add-on cards can be issued for parents, spouse, children, or siblings above the age of 18.
• Easy Bill Pay Facility for utility bills.
• Balance Transfer on EMI facility to transfer outstanding balances from other banks’ credit cards at a lower interest rate.

Other Details

• The card is best suited for Travel.
• The reward type is Reward Points, referred to as Travel Credits.
• To receive an additional free domestic lounge visit upon achieving a spend-based milestone of Rs. 1 lakh, the cardholder will receive an SMS/Email from SBIC with a redirection link and a 12-digit code. The cardholder must follow the link, enter the code, and generate a QR code voucher, which will then be sent to their registered email ID.
• General Terms & Conditions apply to all points transfers and card usage.
• Information regarding fees and other applicable charges can be found in the Most Important Terms & Conditions.
• The card can be applied for via the sbicard.com website, Chatbot ILA, SBI Card Helpline (39 02 02 02, prefix city STD code), or the nearest SBI branch.
• The card can be used internationally at over 24 million outlets and for cash withdrawals from over 1 million ATMs globally.