SBI Card PULSE – Benefits, Fees & Eligibility

Introduction

The SBI Card PULSE, issued by SBI Card, is positioned as a mid-range credit card designed for individuals who prioritize health and wellness, while also offering significant travel and lifestyle benefits. Its key differentiating features include a welcome gift of a Noise ColorFit Pulse 4 Pro Smart Watch, complimentary annual memberships to Fitpass Pro and Netmeds First, accelerated reward points on health, movies, and dining spends, and comprehensive travel privileges such as domestic airport lounge access and Priority Pass membership.

Welcome Benefits

• Noise ColorFit Pulse 4 Pro Smart Watch: Get a Noise ColorFit Pulse 4 Pro Smart Watch worth ₹7,999 upon payment of the joining fee. A gift voucher for this will be sent within 45 days.
• Complimentary Fitpass Pro Membership: Receive a complimentary 1-year Fitpass Pro membership, which is renewed annually upon payment of the renewal fee. This membership provides:
  • Access to more than 4,000 Gyms and fitness studios.
  • Unlimited access to interactive as well as recorded online fitness sessions.
  • Personal nutritionist and exclusive Artificial Intelligence-led Fitness Coaching sessions.
• Complimentary Netmeds First Membership: Receive a complimentary 1-year Netmeds First membership, which is renewed annually upon payment of the renewal fee. This membership provides:
  • Unlimited doctor consultations online.
  • Complimentary 2.5% NMS Super Cash (up to ₹1000 on every prepaid order).
  • An additional 5% discount on pathology lab tests.
  • Unlimited free deliveries.
• Membership Activation Condition: Both complimentary memberships are subject to the timely payment of the joining fee and making at least one retail transaction using the credit card.

Fees

• Joining Fee: ₹1,499 + applicable taxes.
• Annual Fee: ₹1,499 + applicable taxes (from the second year onwards).
• Spend-Based Waiver: The renewal fee can be waived if you spend ₹2 lakhs or more in the previous card anniversary year.
• Rewards Redemption Fee: ₹100 on each redemption request.
• Foreign Currency Markup: 3.5% of the transaction amount.
• Interest Rates: 3.75% Per Month (45% Per Annum).
• Fuel Surcharge Waiver: 1% fuel surcharge waiver for all fuel transactions between ₹500 and ₹4,000. The maximum waiver is capped at ₹250 per statement cycle.
• Cash Advance Charges: 2.5% of the cash amount, subject to a minimum of ₹500.
• Add-on Card Fee: Nil.

Rewards

• Rewards Rate

  • Earn 10 Reward Points per ₹100 spent on Movies, Dining, Pharmacy, Chemist, and Sports categories. This translates to a 2.5% reward rate.
  • Cardholders can earn up to 7,500 accelerated Reward Points each month in these categories, after which the normal reward rate applies.
  • Earn 2 Reward Points per ₹100 spent on all other categories, which is a 0.5% reward rate.
  • No Reward Points are earned on selected transactions, including cash withdrawals, fuel purchases, balance transfers, and wallet reloading.

• Milestone Benefits

  • Receive a Netmeds e-gift voucher of ₹1,500 if you spend above ₹4 lakhs in an anniversary year. The gift voucher is sent to eligible cardholders within 45 days through SMS or email.
  • Get a renewal fee waiver on spending ₹2 Lakhs or more in the card anniversary year.

• Travel Benefits

  • Domestic Lounge Access: Enjoy 8 complimentary domestic airport lounge visits every year, with a maximum cap of 2 lounge visits per quarter.
  • International Lounge Access: Receive a complimentary Priority Pass membership for the first two years of card membership, valued at US $99. Note that only the membership is complimentary, and usage fees apply if you visit any airport lounge using the Priority Pass.

• Insurance Benefits

  • Zero Liability Cover: ₹1 lakh cover for fraudulent/unauthorized transactions if the card is reported lost or stolen in a timely manner.
  • Lost Baggage: Cover up to ₹72,000 (US $1,000).
  • Delayed Baggage: Cover of ₹7,500.
  • Loss of Travel Documents: Cover of up to ₹12,500.
  • Damaged Baggage: Cover of ₹5,000.
  • Delay in Flight: Cover of up to ₹7,500.

• Other Benefits

  • Contactless Advantage: Tap & Pay with ease for fast, convenient, and secure transactions using Visa PayWave technology.
  • Global Acceptance: Accepted in over 24 million outlets globally, including 3,25,000 outlets in India.
  • Add-on Cards: Empower your family members (parents, spouse, children, or siblings above 18) with add-on cards at no additional fee.
  • Cash Access Across the World: Withdraw cash from over 1 million Visa or Mastercard ATMs globally.
  • Utility Bill Payment Facility: Pay electricity, telephone, mobile, and other utility bills using the Easy Bill Pay facility.

Rewards Redemption Guide

• Reward Points can be redeemed against a host of options available on the Rewards catalogue after logging into your Internet banking account.
• Reward Points can also be redeemed against your statement balance (converted into cash).
• The value of 1 Reward Point is Re. 0.25 (i.e., 4 Reward Points = Re. 1).
• A fee of ₹100 is charged on each redemption request.

Card Eligibility Criteria

• Age: Between 18 Years and 65 Years.
• Income: Stable income as a salaried or self-employed individual.
• Credit Score: A decent credit score of 750 or above is generally required.

• Documents Required

  • Identity Proof: PAN Card, Aadhar Card, Voters’ ID, Driving Licence (any one).
  • Address Proof: Driving Licence, Aadhar Card, Passport, Utility bills, Ration Card (any one).
  • Income Proof: Latest bank statements (at least 3 months), latest salary slips, or latest audited ITR.

Card Review

The SBI Card PULSE is an excellent choice for health-conscious individuals seeking an affordable credit card that combines health benefits with a decent reward rate and other lifestyle privileges. Its standout features include the attractive welcome gift of a Noise ColorFit Pulse 4 Pro Smart Watch and the complimentary Fitpass Pro and Netmeds First memberships, which can effectively become lifetime free if the annual spend-based waiver condition is met.

Pros:

• Valuable welcome benefits, including a smartwatch and health memberships.
• Complimentary annual health and fitness memberships (Fitpass Pro and Netmeds First) that renew with annual fee payment.
• Strong reward program with accelerated points on health, movies, dining, and sports categories (2.5% value).
• Significant travel benefits, including 8 complimentary domestic airport lounge visits annually and a complimentary Priority Pass membership for two years.
• Comprehensive insurance coverage for travel-related incidents and fraud liability.
• Renewal fee waiver on achieving a reasonable annual spend milestone.

Cons:

• While Priority Pass membership is complimentary, usage fees apply for international lounge visits.
• Accelerated reward points are capped monthly (7,500 points).
• No reward points are earned on certain common transactions like fuel purchases and wallet reloads.
• A fee of ₹100 is charged for each reward point redemption request.

Overall, the SBI Card PULSE offers a compelling value proposition for those looking to manage their health and wealth effectively, providing a blend of health, travel, and reward benefits at a competitive annual fee.

Important Product Details

• Complimentary Noise ColorFit Pulse 4 Pro Smart Watch worth ₹7,999 as a welcome gift.
• Complimentary 1-year FitPass Pro membership, renewable annually.
• Complimentary 1-year Netmeds First membership, renewable annually.
• 10 Reward Points per ₹100 spent on Movies, Dining, Pharmacy, Chemist, and Sports.
• 2 Reward Points per ₹100 spent on all other categories.
• Complimentary Priority Pass membership for the first two years (worth US $99).
• 8 Complimentary domestic airport lounge visits per year, capped at 2 per quarter.
• Netmeds e-gift voucher worth ₹1,500 annually on retail spends of ₹4 lakhs or more.
• Annual membership fee waiver on spending ₹2 lakhs or more in the card anniversary year.
• Zero liability cover of ₹1 lakh.
• 1% fuel surcharge waiver for transactions between ₹500 and ₹4,000, with a maximum waiver of ₹250 per statement cycle.
• Finance charges are 3.75% per month (45% per annum).
• Cash advance fee is 2.5% of the cash amount, minimum ₹500.
• Foreign currency markup fee is 3.5% of the transaction amount.
• Add-on cards are available at Nil fee.

Other Details

• FlexiPay Facility: Convert eligible transactions of ₹2,500 or more into Easy Monthly Installments (EMIs). This can be availed by logging into the SBI Card app/official website within 30 days from the date of purchase.
• Balance Transfer on EMI: Transfer outstanding balances from other banks’ credit cards to your SBI Card PULSE at a lower interest rate and repay in easy EMIs. This facility can be availed through internet banking or by contacting customer care.
• How to Apply: Applicants can apply for the SBI Card PULSE online via the SBI Card website or chatbot ILA, or offline by visiting the nearest SBI branch with all required documents.
• General Terms & Conditions: All applicable taxes will be charged on fees, interest, and other charges. Continued use of the card implies acceptance of any amendments to the Terms and Conditions. Information provided is subject to change at the discretion of SBICPSL.
• SBI Card Helpline: For assistance, call 1860 180 1290 or 39 02 02 02 (prefix local STD code).
• The card is best suited for individuals interested in Travel, Shopping, and Health benefits.
• The overall insurance benefits are stated to be worth up to ₹50 lakhs.