SBI Card Launches 3 New Variants of Its Travel Credit Card ‘SBI Card MILES’
The first travel-focused core credit card, dubbed “SBI Card MILES,” has been launched in Mumbai today in three different versions by SBI Card, the largest pure-play credit card issuer in India.
The card aims to provide comprehensive travel advantages to all types of travellers. Converting travel Credits to Air Miles and Hotel Points, receiving quicker rewards on EVERY travel reservation, and access to airport lounges are just a few of the exciting advantages that come with the SBI Card MILES. The card partners with over 20 airline and hotel companies, including Air Vistara, Air India, Spicejet, Air France-KLM, Etihad Airways, Air Canada, Thai Airways, Qantas Airways, ITC Hotels, IHG Hotels & Resorts, and Accor, to provide cardholders complete flexibility in redemption.
Through meticulously selected travel features, the three versions of the SBI Card MILES-SBI Card MILES ELITE, SBI Card MILES PRIME, and SBI Card MILES have been created to enhance these experiences. With every Rs 200 spent on travel, cardholders can earn up to 6 Travel Credits, and with every Rs 200 spent on other categories, they can accrue up to 2 Travel Credits.
Through the services provided by the “SBI Card MILES” bouquet, cardholders can redeem Travel Credits for a variety of well-known flights and lodging partners quickly and easily. By accessing the SBI Card website or mobile app, one may utilise these Travel Credits to immediately book travel and hotel stays, or they can be converted into Air Miles or Hotel Points of their respective partners.
Mr. Dinesh Kumar Khara, Chairman, State Bank of India, “The strong economic growth and robust consumption landscape has accentuated India’s position in the world. Even in travel sector, today, India is considered amongst the key source markets for outbound travel in many countries including those in Asia and Europe. I congratulate SBI Card on the launch of SBI Card MILES, a strong product that will redefine the travel experiences for Indian consumers.”
Speaking at the launch Mr. Abhijit Chakravorty, MD & CEO, SBI Card said, “Our customer-centric approach has always driven us to design innovative products, solutions, and services that address the evolving and diverse lifestyle needs and offer customers an extremely rewarding experience. Indian travellers are large global spenders and naturally, with increased and more robust travel plans, consumers are looking for curated benefits to enhance their travel experiences. SBI Card MILES is our endeavour to offer our customers the best of all the travel benefits. The card has been designed to become one true travel partner for the cardholders. We are sure that our cardholders will enjoy the exclusive benefits offered by our travel-centric core card.”
There are several diverse expenditure milestone perks associated with the SBI Card MILES ELITE. These include a spending-based fee reversal upon achieving a Rs 15 lakh spends milestone, up to 20,000 Travel Credits upon reaching a Rs 12 lakh spends milestone, and up to 5000 Travel Credits upon reaching a Rs 1 lakh spends milestone within 60 days of registering. Also, SBI Card MILES ELITE provides Priority Pass membership. Cardholders can use the card to receive up to 8 complimentary domestic lounge visits and up to 6 complimentary international airport lounge visits annually.
Each time a cardholder spends Rs 1 lakh in total, they will receive a gift voucher for a single entry to the lounge, which they may use or give to a visitor. Significantly, holders of SBI Card MILES ELITE cards will also benefit from travel insurance and a cheap 1.99% international transaction markup. The card will be accessible via the RuPay and Mastercard networks. The joining and annual fees of SBI Card MILES ELITE is Rs 4,999 plus applicable taxes while SBI Card MILES PRIME and SBI Card MILES have a fee of Rs 2,999 and Rs 1,499 plus applicable taxes respectively.
In addition to corporate cards that cover all major cardholder segments in terms of income profile and lifestyle, SBI Cards and Payment Services Limited (SBI Card) is a non-banking financial company that offers an extensive credit card portfolio to individual cardholders and corporate clients. The portfolio includes lifestyle, rewards, travel & fuel, and banking partnerships cards. As of Q3 FY24, the brand has a large base of around 18.5 MM+ cards in operation.