SBI Card MILES PRIME – Benefits, Fees & Eligibility

Introduction

The SBI MILES PRIME Credit Card, issued by SBI, is a premium credit card specifically designed for frequent travelers. It aims to enhance travel experiences by offering a robust rewards program focused on travel credits, complimentary access to domestic and international airport lounges, and comprehensive travel insurance benefits. With a focus on making travel more rewarding and convenient, this card provides valuable perks for those who frequently fly and stay at hotels.

Welcome Benefits

• Receive 3,000 Travel Credits upon spending ₹60,000 within the first 60 days of card issuance.
• Travel Credits will be credited upon payment of the Joining Fee.

Fees

• Joining Fee: ₹2,999 plus GST/taxes.
• Renewal Fee: ₹2,999 plus GST/taxes (per annum, from the second year onwards).
• Spend-Based Waiver: The annual fee is reversed on spending ₹10 Lakhs in a membership year.
• Rewards Redemption Fee: ₹99.
• Foreign Currency Markup: 2.50% of the amount transacted on international usage.
• Interest Rates: 3.75% Per Month (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 (per annum).

Rewards

• Reward Rate:
  • Earn 4 Travel Credits for every ₹200 spent on travel.
  • Earn 2 Travel Credits for every ₹200 spent on all other expenses.
• Milestone Benefits:
  • Earn 5,000 Bonus Travel Credits on annual spends of ₹5 Lakh.
  • Earn 10,000 Bonus Travel Credits on annual spends of ₹8 Lakh.
  • Receive 1 additional complimentary domestic airport lounge visit for every spend of ₹1 Lakh, over and above the standard complimentary visits. These additional lounge visits are capped at 12 visits in a membership year.
• Travel Benefits:
  • Domestic Lounge Access: Enjoy 8 complimentary domestic airport lounge visits per year (maximum 2 visits per quarter).
  • International Lounge Access: Receive 4 complimentary international airport lounge visits per year (maximum 2 visits per quarter).
  • Priority Pass Membership: Get a complimentary Priority Pass Membership worth 99, which is complimentary for the first 2 years. This membership allows access to over 1,000 international airport lounges worldwide. Post complimentary visits, a usage fee of 27 plus taxes is applicable for international lounge access.
  • Forex Markup: A low foreign currency mark-up charge of 2.50% on international usage.
• Insurance Benefits:
  • Up to 6 flight cancellations per year, each limited to ₹3,500.
  • Lost card liability cover of up to ₹1 Lakh.
  • Loss of check-in baggage cover of up to ₹72,000.
  • Delay of check-in baggage cover of up to ₹7,500.
  • Loss of travel documents cover of up to ₹12,500.
  • Baggage damage cover of up to ₹5,000.
• Reward Exclusions: Travel credits are not earned on purchases of fuel, EMI, wallet upload, property rental, utilities, and insurance.
• Travel Credits Expiry: Travel credits expire 2 years from the date of receipt.

Rewards Redemption Guide

• Travel Credits can be converted into air miles, hotel points, travel bookings, or redeemed for products from a wide array of catalogs (e.g., electronics, home appliances).
• Travel Credit Value:
  • 1 Travel Credit = ₹1 (for Air Miles / Hotel Points).
  • 1 Travel Credit = ₹0.50 (for Travel Bookings).
  • 1 Travel Credit = ₹0.25 (for Shop & Smile Product Catalog).
• Airline Partners and Conversion Ratios (Travel Credit:Partner Miles):
  • 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
  • Qantas Airways: 1:1
  • Qatar Airways: 2:1
  • Saudia (Saudi Arabian Airlines): 2:1
  • Spice Jet: 1:1
  • Thai Airways: 1:1
  • Turkish Airlines: 2:1
  • United Airlines: 2:1
• Hotel Partners and Conversion Ratios (Travel Credit:Partner Points):
  • 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
• Transfer Process: Transferring travel credits can take up to 21 days. Once transferred, points are final and cannot be reversed.

Card Review

The SBI MILES PRIME Credit Card is an excellent choice for individuals who travel frequently and seek to maximize rewards from their credit card spending. It stands out with its specialized travel benefits, including extensive airport lounge access (both domestic and international), a valuable travel credits program redeemable for flights and hotels, and comprehensive travel insurance. The card's focus on making travel more convenient and enjoyable, coupled with its spend-based fee waiver, makes it a compelling option for enhancing the travel experience. While it lacks specific cashback or discounts on movies or dining and offers limited rewards on non-travel expenses, its core value proposition for travelers is strong. Overall, it is a good choice for those who prioritize travel perks and want to earn points for their journeys to use for future travels.

Important Product Details

• Positive Highlights:
  • Generous welcome benefit of 3,000 Travel Credits.
  • Strong reward rate on travel spends (4 Travel Credits per ₹200).
  • Significant milestone benefits, including up to 10,000 bonus Travel Credits and additional lounge visits.
  • Extensive complimentary domestic (8 per year) and international (4 per year) airport lounge access.
  • Complimentary Priority Pass Membership for the first two years, offering access to over 1,000 international lounges.
  • Comprehensive travel insurance coverage for flight cancellations, lost baggage, and travel documents.
  • Low foreign currency mark-up charge of 2.50% on international transactions.
  • Annual fee reversal on high annual spends (₹10 Lakhs).
• Negative Highlights:
  • Absence of cashback or discounts on movies or dining.
  • Limited rewards on non-travel related expenses.
  • A rewards redemption fee of ₹99 applies.

Other Details

• Global Acceptance: The card is accepted at over 24 million outlets globally, including 3,25,000 outlets in India, and supports MasterCard / RuPay networks.
• Cash Access: Cardholders can withdraw cash from over 1 million ATMs across the globe.
• Contactless Advantage: Features Tap & Pay for fast, convenient, and secure everyday payments. Transactions are secured with MasterCard's PayWave, ensuring only one transaction is processed even if tapped multiple times.
• Flexipay EMI: Eligible purchases of ₹2,500 or more can be converted into easy monthly EMIs.
• Safe and Secure: The card is chip and PIN enabled, providing enhanced security against counterfeiting and skimming.
• Add-on Cards: Add-on cards can be issued for parents, spouse, children, or siblings above the age of 18.
• Easy Bill Pay Facility: Allows payment of electricity, telephone, mobile, and other utility bills.
• Balance Transfer on EMI: Offers the option to transfer outstanding balances from other banks’ credit cards to the SBI MILES PRIME Credit Card at a lower interest rate, repayable in easy EMIs.
• Terms & Conditions: All benefits and features are subject to the Most Important Terms & Conditions and other applicable Terms & Conditions provided by SBI Card.