SBI Credit Card was first launched in October 1998 in India’s capital city New Delhi. It was launched in a joint venture with GE Capital. It is incorporated as SBI Cards and Payments Services Private Limited. It is headquartered in Gurgaon, Haryana. The State Bank of India is the largest public sector bank in India. The term SBI is a household name in India. It is considered as the most trusted banker in India, this faith led to achieving a credit card customer base of 1 lakh within a short span of 10 months after its initial launch. Later by February 2000, its number increased to 2.50 lakh and crossed a whopping 5 lakh by December 2000. As of 2017, SBI Credit Card entered into 5 million cards club.
In 2003, SBI Credit Card launched city-specific Affinity Cards targeting professionals, middle and upper-middle-class segments and also frequent travelers of the society. In the year 2006, to ease the customers who book train tickets,
SBI Credit Card collaborated with Indian Railway Catering and Tourism Corporation (IRCTC) and launched a loyalty-cum-credit travel card.The unique feature of this card is the cardholders are eligible to receive up to 10% value back on the railway bookings and they can also get offers on their retail spending.
• Global Acceptance – The SBI Credit Card is accepted both in India as well as in the foreign countries.
• Loan Facilities – The SBI Credit Card provides hassle-free loan facilities on demand. One time processing fee of 2%, up to a minimum amount of Rs 499 and a maximum amount of Rs 3,000 has to be paid. Loan repayment can be done within 12 or 24 or 36 months. The rate of interest is very low. Documentation is not required, there is no paper-work involved to secure the loan.
• Balance Transfer – SBI Credit Cards provide ‘low-interest rate on balance transfer’ facility. It is available to all the residents of India who are holders of a valid and current primary SBI Credit Card.
Balance Transfer amount ordered by a primary SBI Cardholder would be processed by SBI Cards and Payment Services Private Limited subject to a minimum ordered amount of Rs 5,000 and a maximum ordered amount of 75% of the available credit limit assigned to the concerned primary SBI card account.
• Balance Transfer on EMI- SBI Credit Card provides Balance Transfer on EMI, with a minimum transfer amount of Rs 5,000 and a maximum amount of 75% of the available credit limit as assigned to the SBI Cardholder. The cardholder shall be levied a foreclosure fee amounting to 3% of the Principal amount outstanding in case of the Offer being voluntarily pre-closed by the customer prior to the maturity of the tenure period opted for.
• Flexipay –SBI Credit Card charges a default rate of interest of 22% on this facility. A differential rate of interest is applicable from the select set of cardholders. The Rate of interest charged will be intimated to cardholder prior to availing the facility.
Factors which determine the rate of interest are credit risk profile and past transactions or repayment behavior of the customer.
• Encash – SBI Credit Card provides encash offer to its credit cardholders. SBI cardholders can avail the benefits under this offer by requesting for a chequebook which would be sent to the cardholders registered address. The monthly repayment amount will be calculated based on the following formula (principal amount + interest charge) / tenure in months. The monthly repayment schedule will begin from the SBI Cardholders next billing statement and it will continue over the tenure period chosen for the offer.
• Card Upgrade – SBI Credit Cardholder can upgrade the card facility by paying an annual fee. The upgrade will be offered to eligible customers based on the internal evaluation of the customer's performance and credit history of the card. The old plastic cards will be active for a period of 90 days from the date of upgrading to a new card.
• Easy Bill Pay Service – This facility is available for SBI Credit Cardholders for select billers in select cities in India. The services will be available to the registered cardholders and to the exclusion of all others. The cardholder agrees to pay a convenience charge while registering through SBI Card website.
The following are the benefits of using SBI Credit Card.
1. Lower Interest Option – SBI Credit Card charges the lower interest rate on the outstanding credit balance. One can use this option and transfer the outstanding balances of other credit cards to SBI Credit Card at a lower interest rate or can convert transactions into easy monthly installments (EMI). The current rate of interest is 0.75% per month for a period of three months and 1.27% per month for six months.
2. Encash – With the SBI Card Payment, the cardholder can have easy accessibility for cash. The holder of the card can encash up to or above the set credit limit. The user can enjoy hassle-free money using SBI Credit Card Payment as per the requirements. The repayment option is also made convenient by SBI, it doubles up the benefit for the customer.
3. Simplified Form of Money – With the introduction of SBI Card net banking, one need not have to visit the bank every time for withdrawing money. Cards can be used to pay for bills and thus the process of paying bills has been simplified.
4. Insurance – SBI Credit Cardholder can choose different types of Insurance cover, provided by State Bank of India empowering the account holder to tackle the future unforeseen events in life. It is currently providing the following types of insurance cover for cardholders – Health Insurance, Personal Accident Insurance, and Card Protection Plan.
5. Utility Bill Payments – By using SBI Credit Card, an individual can avail the benefits of Auto Bill Pay. After registering for Auto Bill Pay, one can ensure that all the bills will be paid automatically on time and one need not have to worry about missing the deadlines for bill payment. Using Auto Bill Pay mechanism you can pay telephone, mobile, electricity bills, insurance premium and so on. By registering the billers and setting up the standard instructions to pay the bills on time, all the bills will be paid on time every time, automatically. Once the bills are paid automatically you will receive an SMS and e-mail confirming the payment information, bill due dates, and new biller additions. The SBI Credit Card Online Payment facility comes in handy to pay utility bills.
6. Easy Access – One can access SBI Card account anytime, anywhere with sbicard.com or you can also use Simply SMS or can download the SBI Card mobile app or can download yono by SBI Android App. The process of accessing SBI Credit Card has been simplified to a great extent.
7. Rewards – SBI Credit cards provides its users to earn reward points on every purchase. These reward points do have an expiry period within which it should be redeemed. If the customer is an avid online shopper then the best SBI credit card will be SBI SimplyCLICK Credit card as it covers most of the popular e-commerce sites including Flipkart and Amazon.
The quickest way to apply for an SBI Card is to apply for Credit Card through SBI’s website at www.sbicard.com.
You can also call SBI Card Helpline number at 39020202 (prefix STD Code of your respective city).
Visit the nearest SBI Branch and apply for an SBI Credit Card.
Applicants can visit the official website of SBI credit cards at www.sbicard.com, and click on apply which is shown at the top right side of the page. Under the apply tab, the applicant will have to choose from the following options
• Help Me Find a Card
• Track My Application
• Retrieve My Application
The ‘Help Me Find a Card’ will lead the applicant to a list of credit cards that they can choose from as per there requirements. Applicants can choose from these cards after considering their minimum annual income and the reward points that a particular credit card has to offer. Once the suitable credit card is chosen, the applicant needs to select the ‘Apply Now’ option that will direct them to a new page and further information has to be filled as mentioned below.
• Date of Birth
• Annual Income
• PAN Number
• Email id
• Mobile Number
• Enter OTP (this will be sent the applicant’s registered mobile number)
Once the details are filled in, the bank will check whether the candidate is eligible to avail the credit card for which they have applied for. Based on the eligibility of the customer, they may or may not receive the credit card, it will be on the discretion of the SBI Bank to decide if a customer has to be given Credit Card or not.
Applicants can also apply for an SBI Credit Card, by sending an email to SBI bank directly.
Applicants can directly walk into the nearest branch of the SBI Bank and express the desire to obtain a credit card from the bank.
The bank executive will explain you about the features of all the credit cards after understanding the annual income, needs, and requirements of the prospective customer.
Once the applicant zeroes in the card as per the requirement, he/she will be asked to fill in the SBI Bank Credit Card Application Form and enclose the required documents which include PAN card, identity proof, address proof, income proof and so on.
The bank representative will thoroughly go through the application form along with the other submitted documents provided by the applicant and will take a final call whether the applicant meets the eligibility criteria for the credit card for which they have applied for. Once the check is done the applicant will be provided with the desired credit card.
It will be at the discretion of the SBI Bank to decide if a customer has to be given Credit Card or not.
SBI Credit Card provides the customer with a variety of cards to fulfill the individual needs and requirements. It may either be for shopping, dining, travel, premium and so on.
The interest rates are lower compared to other credit card facilities.
SBI Credit Card provides the holders an option to convert the pricey purchase to easy monthly installments, at a lower rate of interest.
SBI Credit Card provides various reward schemes to the customers, which gets accumulated after purchasing products at selected outlets across the country. The same can be redeemed for special offers and deals.
SBI provides the unique opportunity to its cardholders to use the card for securing shopping discounts, travel concessions, cash advance facilities and balance transfer on EMI and so on.
In case if you have lost your SBI Credit Card, then the first thing one should do is to block the credit card to avoid the use of the card for fraudulent activities. The lost credit card should be blocked immediately and reissued. The user should raise a request to block and reissue of card which can be made via:
Follow the below-mentioned steps to register with SBI Credit Card Online:
Step 1: Visit the official web portal of SBI Credit Card at www.sbicard.com and click on the ‘First-time user link’.
Step 2: Enter your Credit Card number, CVV number, date of birth, the expiry date of your credit card and click on the ‘Proceed’ button
Step 3: You will now receive an OTP (one-time-password) on your registered mobile number.
Step 4: Now, fill in the OTP as mentioned and press on ‘Proceed’ option again
Step 5: The system will now ask you your preferred user ID followed by the password and confirm password. Fill in all the required details and click on the ‘Confirm’ button.
Step 6: Your user name and password will get generated which can be used every time to log in to your SBI Card online account.
Follow the below-mentioned steps to report Lost/Stolen SBI Credit Card
Step 1: Login to your online account on sbicard.com
Step 2: Now choose the ‘Report Lost/Stolen Card’ under the Request tab
Step 3: Select the card number to report the lost card
Step 4: If you are looking for a reissue of SBI credit card then choose the “Reissue Card” option
Step 5: Proceeding further click on the ‘Submit’ button.
Procedure to register on SBI Credit Card App
Step 1: Download the SBI card mobile number app and click on ‘First-time user/Sign-Up’ link.
Step 2: Enter your credit card number, CVV number followed by your date of birth and click on ‘Generate OTP’
Step 3: You will now receive an OTP (one-time-password) on your registered mobile number and registered email address.
Step 4: Now enter the OTP and set the device name for device linking and click on ‘Proceed’ again.
Step 5: Set your preferred user ID, password and confirm the password and click on ‘Confirm’
Step 6: Now set the M-PIN and enable the Touch ID for easy access to Mobile App.
One has to follow the below-mentioned steps to check their credit card status from the official web portal of SBI.
Step 1: Visit the official web portal of SBI Bank
Step 2: Click on the Credit card tab on the main page
Step 3: Now go down the page and you will find an option ‘Track my Application’, now click on it
Step 4: Now Check the status by entering the ‘Application / Reference Number’ and click on the Track button.
Step 5: Alternatively one can also choose the ‘Retrieve Application’ tab and enter the Date of Birth and PAN number and click on ‘Retrieve’ button.
Step 6: Now get your SBI Credit Card Application Status which gets reflected on the page.
Please Note: You can check the SBI Credit Card Status via online as well as offline mode.
In today’s digitized world, credit card bill can be paid through any one of the following way – Cash, Cheque, Demand Draft, Debit Card, Net Banking, Visa Money Transfer, NEFT/RTGS Transfer. Users can even make bill payments using SBI Credit Card Net Banking Facility.
The holders of SBI Credit card can do payment using an array of options which are available both in online and offline. Customers can choose any of the payment option as per their convenience.
SBI Credit Card Online Payment Modes
India’s largest public sector bank offers 12 online modes for SBI Credit Card online payment. They are:
Now SBI Credit Cardholders can pay their credit card bills via NEFT (National Electronic Fund Transfer). Follow the steps and make your SBI Credit Card payment through NEFT:
Note: All the payments made through SBI credit card will reflect within 3 years in your SBI Credit Card account.
A cardholder can close the Credit Card Account by writing to SBI Credit Card or calling the SBI Card Helpline.
After placing the request for account closure, the cardholder is required to cut their credit card(s) diagonally. The request will automatically lead to the termination of the add-on cards.
Termination will be effective after payment of all amounts outstanding on the card account.
Q: What are the benefits of SBI credit cards?
A: SBI offers credit cards with attractive features. All credit cards from SBI offers a range of benefits as follows:-
1. With the balance transfer feature, you can avoid paying interest on multiple cards. You can transfer your outstanding amounts from other cards to your SBI card at a low rate of interest.
2. You can register and pay your utility bills, insurance premiums, electricity and telephone bills.
3. Cardholders enjoy facilities which provide emergency travel assistance, banking protection, free replacement of lost card, and more.
4. You can access your SBI card account online or download the SBI Card mobile app. Make bill payments, check your outstanding balance and more anytime from any location across the globe.
Q: How is SBI credit card helpful to encash the limit?
A: SBI credit card can be very helpful, you can use it if you need additional funds for an emergency purpose. With the SBI encash facility you can get quick access to funds. One can get the amount within your credit limit or above it will be transferred to your account number within 48 hours. Repayment of the funds can be made over 1, 2 or 3-years instalments.
Q: What is SBI balance transfer?
A: SBI Balance transfer means nothing but paying the balance on your other cards with your SBI credit card. You can transfer the outstanding amount to other cards by using SBI credit card at a low rate of interest. SBI provides two different balance transfer plans, you can choose any one from these two.
The features of the same are listed below:
SBI Credit Card Balance Transfer Plan
|First Plan||Second Plan|
|0% interest rate for 60 days.||1.7% interest per month for 180 days.|
|Processing fee of 2% or Rs.199 (whichever is higher) is applicable.||The processing fee is waived off.|
Q: How can I Pay my SBI credit card bill?
A: SBI is providing different ways to pay your credit card bill. Based on your convenience you can use any of the following methods to pay the credit card bill.
Online bill payment: By using net banking facility you can pay the credit card bill.
Mobile app: Pay your credit card bill on the go with the SBI mobile app or YONO app.
Offline bill payment: You can pay your credit card bill through SBI ATM or you can visit any State Bank of India branch to pay your card bill.
Q: Is there a SBI Credit Card App?
A: Yes, SBI Card has an exclusive app which is available on both Android and iOS Users. Once you download the app, you can register and access your credit card account details, raise card related requests, perform transactions, place requests for other SBI products and so on.
Q: Can I convert SBI credit card reward points into cash?
A: There are a few SBI credit cards that would allow you to pay your card outstanding using the reward points. For instance, SBI Card Prime, SBI Card Elite, and SBI Simply SAVE Advantage will allow you to redeem your reward points against card outstanding. On all these cards, you can redeem Rs. 1 for every 4 reward points.
Q: Can I use my card to withdraw money?
A: Yes, you can withdraw the cash with your credit card. You can withdraw a maximum of Rs.15,000 per day with your credit card. SBI provides the overall cap on cash withdrawal, which is 80% of your total credit limit. You need to remember that taking a cash advance will collect a finance charge of up to 3.35% per month.
Q: Which transactions are not eligible to earn Reward Points on my SBI credit card?
A: Although you can earn Reward Points on most of your purchases, there are certain transactions that are not eligible to earn points. These include balance transfer, cash advance, disputed transactions, financial charges, and others.
Q: How many types of credit cards does SBI provide?
A: The State Bank of India is the largest public sector bank in India. SBI currently offers 5 categories of credit cards and they are listed below:
1. SBI Travelling credit cards
2. SBI Shopping credit cards
3. SBI Banking partnership credit card
4. SBI rewards credit card
5. SBI lifestyle credit card
Q: How to activate SBI credit card before going abroad?
A: Before you go abroad, you need to activate your credit card for international transactions. Log in to your SBI online banking account to activate the international credit limit on your card.