The SBI Card Miles Elite is a travel-oriented credit card that rewards you with up to 6 Travel Credits for each Rs 200 spent, making it perfect for frequent flyers who want to redeem flight and hotel expenses. With a minimal forex markup of only 1.99 percent and access to more than 1,000 international airport lounges, this card is made to maximize worldwide travel value without burning a hole in your pocket.
Welcome Benefits
Begin your journey with the SBI Card Miles Elite by earning 5,000 Travel Credits on payment of the joining fee. These credits can be availed against air tickets, hotel bookings, and other travel products on the SBI Card Travel Edge platform, enabling you to start with value from the beginning.
Travel Benefits
The card provides a high-end experience made for regular flyers. You receive free access to more than 1,000 airport lounges globally across international airports via Dreamfolks membership and 8 free domestic lounge visits per year (2 per quarter). In addition, for each Rs 1 lakh spent, one free domestic lounge visit is rewarded, up to a limit of 15 extra visits per annum. The minimal forex markup charge of only 1.99 percent makes it economical for international transactions.
Milestone Benefits
- 20,000 Bonus Travel Credits on achieving Rs 12 lakh of yearly spends.
- Yearly fee reversal on crossing Rs 15 lakh of yearly spends. These milestones earn you additional value without any extra effort except your normal spends.
- Spend-Based Domestic Lounge Visits: On spending ₹1 lakh, earn one extra domestic airport lounge visit, in addition to the free visits, on behalf of the primary cardholder as well as an accompanying guest. This feature has a maximum 15 additional visits per membership year.
Insurance Benefits
SBI Card Miles Elite is supplemented by basic travel-related insurance cover consisting of:
- Air accident insurance
- Lost card liability protection
- Fraud protection insurance
These advantages keep you financially secure against unexpected events while traveling or for regular card usage.
Reward Points Structure and Redeemability
The SBI Card Miles Elite operates on an open-ended, travel-centric reward structure named Travel Credits, that is accrued according to your spending and can be redeemed in a variety of modes with high value for travel.
Accruing Travel Credits
The card rewards your spends on travel as well as shopping as below:
- 6 Travel Credits for each ₹200 of transaction on travel items like airlines, hotels, travel portals.
- 2 Travel Credits for each ₹200 spent on all other qualifying retail transactions.
This arrangement provides maximum returns for those who spend a lot on travel, while also providing steady returns on regular purchases. No Travel Credits are, however, provided on certain categories such as fuel, wallet reloads, insurance, rent of property, and payments towards utility bills.
Redemption Options
Travel Credits earned can be redeemed through the following:
Airline Miles / Hotel Points: 1 Travel Credit = ₹1
The miles or loyalty points earned on the Travel Credits can be transferred with a specific airline and hotel network, hence better suited for repeated fliers and loyal clients of hotels.
Travel Bookings: 1 Travel Credit = ₹0.50
Travel flight tickets, accommodation at hotels, and packages on holiday bookings are accepted on SBI Card Travel Edge’s direct website and applications. The result is users getting an option for rewards converted to tangible savings for real travel.
Product Catalogue: 1 Travel Credit = ₹0.25
Exchange credits against a range of lifestyle and electronic goods offered by the SBI Card Shop & Smile rewards catalog.
Validity and Tracking
Travel Credits are valid for 2 years from the date of accrual.
You can track and redeem your credits with ease through the SBI Card mobile app or website under the ‘Rewards’ section.
Fees and Charges
The SBI Card Miles Elite has a premium fee schedule in line with its upscale travel privileges. Still, its forex markup low charge, travel credits, and milestone benefits can largely negate the cost for regular flyers.
- Joining Fee: ₹4,999 + GST, The one-time joining fee awards you 5,000 Travel Credits as a welcome gift that you can utilize to book your travel or get it converted by our partners.
- Annual Fee (Renewal): ₹4,999 + GST, Charged from the second year onwards. The renewal fee is exempt if spends per year are over ₹15 lakh, and hence best suited for high spenders.
- Finance Charges: Up to 3.5% per month (42% per annum), Applicable on unpaid outstanding balances.
- Cash Advance Fee: 2.5% of the amount of withdrawal or ₹500 (higher of the two), Applicable when withdrawing cash through the card from ATMs.
- Foreign Currency Markup Fee: 1.99%, This competitive forex charge makes it affordable for international travel and online foreign currency transactions.
Other Charges
| Charge Type | Amount / Description |
|---|---|
| Late Payment Charges – Up to ₹500 | ₹0 |
| Late Payment Charges – ₹501 to ₹1,000 | ₹400 |
| Late Payment Charges – ₹1,001 to ₹10,000 | ₹750 |
| Late Payment Charges – ₹10,001 to ₹25,000 | ₹950 |
| Late Payment Charges – ₹25,001 to ₹50,000 | ₹1,100 |
| Late Payment Charges – Above ₹50,000 | ₹1,300 |
| Overlimit Charges | 2.5% of overlimit amount (min ₹600) |
| Reward Redemption Fee | ₹99 + GST per redemption transaction |
| Utility Bill Payment Fee | 1% of bill amount (if above ₹50,000/month) |
| Rent Payment Charges | ₹199 + GST per transaction |
| Card Replacement Fee | ₹100 – ₹250 (based on request) |
| Emergency Card Replacement Abroad (Visa) | Minimum $175 or actual cost |
| Emergency Card Replacement Abroad (Mastercard) | Minimum $148 or actual cost |
Eligibility Criteria and Documents Needed
Eligibility Criteria:
- Age: Applicant must be between 21 to 70 years
- Employment Type: Both salaried and self-employed are eligible
- Income Requirement: SBI does not specify a particular income requirement; however, as this is a premium card with an annual fee of ₹4,999, a high and stable income profile is usually preferred
- Credit Score: Good credit score (750 or more) is preferred to enhance approval chances
- Residency: The applicant should be an Indian resident
Documents
| Document Category | Accepted Documents |
|---|---|
| Proof of Identity (any one) |
Aadhaar Card, PAN Card, Passport, Voter ID, Driving License |
| Proof of Address (any one) |
Aadhaar Card, Passport, Utility Bill (not older than 3 months), Rent Agreement |
| Proof of Income |
Salaried: Latest salary slips and/or Form 16 Self-employed: Income Tax Returns (ITR) with computation of income or audited financials Bank statements showing regular income credits may also be required |
SBI Card Miles Elite Review- My Thoughts
The SBI Card Miles Elite is a premium travel credit card, and although its joining and annual fees are relatively higher than those of some players in the same segment, it compensates for it with its robust travel-oriented benefits. Its most notable feature is extensive lounge access, covering 4 international and 8 domestic lounge visits annually. Additionally, local lounge membership grows with each additional dollar you spend, which makes it particularly valuable for heavy flyers.
Its other advantage is the low foreign currency markup fee of 1.99%, much lower than the usual 3.5% on most cards, which makes it perfect for international travelers. Although the reward structure is pretty much average and comparable to other cards in this category, the absence of an annual fee waiver might be an issue for those who prefer milestone-based savings.
Overall, if you’re a regular domestic or international traveler, the SBI Card Miles Elite is worth the cost through regular travel benefits and foreign spend maximization. It may not be the most suitable for those seeking a general cashback or shopping card, but for air-traveling intelligent users, it’s a strong contender.
Peoples Review on Reddit Forum
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