Is the SBI Elite Credit Card a good choice for international transactions? How does it compare to other premium cards in terms of forex fees and global benefits?
If you travel abroad frequently or shop a lot from international websites, the SBI Elite Credit Card is a decent option but not the best. The main reason is the foreign exchange markup fee, which is 1.99% + GST. This is lower than the 3.5% forex fee charged by many standard credit cards, making it an attractive choice for international spending. However, when compared to premium cards like Axis Magnus, HDFC Infinia, or even SBI’s own Aurum Card, which sometimes offer lower forex charges or better rewards on international transactions, SBI Elite doesn’t stand out as the best option.
I used this card for a few overseas trips, and while the 1.99% forex fee was reasonable, the real issue was reward points on foreign transactions. Unlike cards like Axis Magnus or HDFC Infinia, which offer better multipliers on international spends, SBI Elite gives only 2 reward points per INR 100 spent, which translates to an effective cashback of just 0.5%. That’s not great, especially when other premium cards give anywhere from 1.5% to 3% effective returns on foreign spending.
Another thing to consider is international lounge access. The SBI Elite Card provides 6 free international lounge visits per year through the Priority Pass program, which is decent if you travel occasionally. But if you’re a frequent flyer, cards like Axis Atlas or HDFC Regalia offer unlimited or higher lounge visit limits, making them more suitable for frequent travelers.
One frustrating experience I had was with foreign transaction processing. While the card works fine in most places, SBI’s fraud detection system can sometimes block international transactions, requiring you to call customer care to get them unblocked. This can be annoying, especially if you’re in a different time zone and need to make a quick purchase.
Overall, the SBI Elite Card is a reasonable choice for international spending if you want a lower forex fee and occasional lounge access, but if you’re looking for higher rewards, better lounge benefits, or a smoother transaction experience, other premium cards like Axis Magnus, HDFC Infinia, or even OneCard Metal with 1% forex markup are better options. I eventually switched to a lower-forex-fee card for international use because the reward system on SBI Elite just didn’t make sense for foreign spending.
There are some pros and cons while comparing with other premium cards like HDFC Infinia, Axis Magnus/Reserve, or Amex Platinum Travel.
Pros:
6 international Lounge Visits per year.
Welcome vouchers for Yatra, Trident, etc.)
Worldwide acceptance of Mastercard/Visa.
Cons:
Forex Markup Fee: 3.5%+GST
There is no specific travel insurance or Zero forex markup benefits.
For SBI Elite, Forex Markup is 3.5%, Lounge access is 6 international and 8 domestic, average international rewards is 0.5-1.5%, Annual fee is Rs. 4,999, and no forex markup.
While talking about HDFC Infinia, Forex Markup is 2%, Lounge access is unlimited, average international rewards is 3.3%, Annual fee is Rs. 12,500, and no forex markup.
Again for Axis Magnus, Forex Markup is 2%, Lounge access is unlimited, average international rewards is very high, Annual fee is Rs. 10,000, and no forex markup.