Is the SBI Elite Credit Card worth the INR 4,999 annual fee?

Credit Cards SBI
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Is the SBI Elite Credit Card worth the INR 4,999 annual fee, or are there better premium cards available in the same price range?

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Honestly, it depends on how much you spend and whether you actually use the benefits. I had this card for a while, and while it looked great on paper, I found myself questioning if it was worth keeping.

The INR 4,999 annual fee seems high at first, but you do get some perks—free movie tickets worth INR 6,000 annually, lounge access, and milestone rewards. If you use these regularly, it can justify the fee. But in my case, I realized I wasn’t making full use of them.

The lounge access is decent—you get 8 domestic visits per year (2 per quarter) and 6 international visits via Priority Pass. But compared to cards like Axis Magnus or HDFC Infinia, which offer unlimited access, it feels a bit limited, especially if you travel a lot.

Milestone rewards sound great—you get 10,000 points (worth INR 2,500) at INR 3L spend and 15,000 points (worth INR 3,750) at INR 5L spend. But unless you consistently spend around 40K+ per month, you might not hit these milestones.

The reward rate is average—you get 5x points on dining, groceries, and department stores, but since 1 point = only INR 0.25, the actual value isn’t as exciting as it looks. Other cards give better rewards for similar spending.

For me, the biggest issue was SBI’s customer service. I had a couple of reward redemption problems, and getting them resolved was frustrating. Compared to HDFC or Axis, SBI’s support just felt outdated.

So, is it worth it?

If you spend over INR 10L a year, the fee gets waived, making it a solid choice. But if you don’t, you need to ask yourself:

  • Do you watch movies every month to use the free tickets?
  • Do you travel enough to make use of the lounge access?
  • Are you okay with an average reward rate and not-so-great customer service?

I eventually switched to Axis Magnus, which gives unlimited domestic lounge access, better milestone rewards (INR 10,000 Taj voucher at INR 1L spend), and a better reward structure overall. If you want something with a lower fee, HDFC Regalia (INR 2,500 with INR 3L waiver) is a much better option.

Would I recommend SBI Elite? Only if you maximize all the perks. Otherwise, there are better premium cards for the same or even lower price.