SBI Card launches Landmark co-branded credit cards

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SBI Card launched 9 new co-branded bank cards with Landmark Group as we speak. The brand new playing cards are available three variants: Prime, Choose and Base. Every variant is obtainable for 3 Landmark Group manufacturers: Life-style & House Centre, Max & Spar.

Launch event of SBI Card Landmark Group Co-branded Credit Card

Landmark Group has ended the partnership with Normal Chartered Credit score Playing cards final month. Launch of a brand new set of Landmark Group co-branded bank cards was extremely speculated. With the launch of those new 9 bank cards with SBI Card as we speak, Landmark Group cleared the smoke round it. Let’s look into the options of every variant intimately to see if they’re price it.

Prime

Lifestyle Home Center SBI Card Prime

The Prime variant is the highest tier bank card and comes with the perfect reward charge.

  • Annual Charge: Rs. 2,999 + GST
  • Welcome Profit: 12,000 bonus reward factors equal to Rs. 3,000 on realization of annual charge
  • Reward Fee:
    • 15 Reward Factors on each Rs. 100 spent at On-line & Retail Landmark Shops (Life-style, House Centre, Max and Spar), 3.75% reward charge
    • 10 Reward Factors on each Rs. 100 spent at Eating & Motion pictures, 2.5% reward charge
    • 2 Reward level per Rs. 100 spent on different retail purchases (Non gasoline), 0.5% reward charge
  • Milestone Advantages:
    • 58,000 cumulative reward factors on spending Rs. 1.8 Lakhs on Landmark shops, 8% reward charge
    • 20,000 bonus Reward Factors on general annual retail spends of Rs. 5 Lakhs, 1% reward charge
  • Airport Lounge Entry:
    • Home: 8 complimentary visits per yr, restricted to 2 per quarter
    • Worldwide: 4 complimentary visits per yr, restricted to 2 per quarter, utilizing Precedence Cross

Landmark SBI Card Prime gives a reward charge as much as 11.75% on spending Rs. 1.8 Lakhs on Landmark manufacturers which is sort of superior. Nevertheless in case you don’t spend this a lot on Landmark manufacturers, then the reward charge drops to meagre 0.5% which is just a little disappointing. Nevertheless if you’ll be able to hit the milestone spend of Rs. 5 Lakhs, the reward charge shoots as much as respectable 1.5%.

Choose

Spar SBI Card Select

The choose variant is a notch under the Prime variant and comes with just a little decrease reward charge.

  • Annual Charge: Rs. 1,500 + GST
  • Welcome Profit: 6,000 bonus reward factors equal to Rs. 1,500 on realization of annual charge
  • Reward Fee:
    • 10 Reward Factors on each Rs. 100 spent at On-line & Retail Landmark Shops (Life-style, House Centre, Max and Spar), Eating & Motion pictures, 2.5% reward charge
    • 2 Reward level per Rs. 100 spent on different retail purchases (Non gasoline), 0.5% reward charge
  • Milestone Advantages:
    • 34,400 cumulative reward factors on spending Rs. 1.5 Lakhs on Landmark shops, 5.7% reward charge
    • 12,000 bonus Reward Factors on general annual retail spends of Rs. 3 Lakhs, 1% reward charge

Landmark SBI Card Choose gives a reward charge as much as 8.2% on spending Rs. 1.5 Lakhs on Landmark manufacturers which is sort of respectable. Similar to the Prime variant, the default reward charge is 0.5% which shoots as much as 1.5% on reaching the milestone spend of Rs. 3 Lakhs.

Base

Max SBI Card

The bottom variant has the bottom reward charge on Landmark manufacturers and lowest annual charge.

  • Annual Charge: Rs. 499 + GST
  • Welcome Profit: 2,000 bonus reward factors equal to Rs. 500 on realization of annual charge
  • Reward Fee:
    • 5 Reward Factors on each Rs. 100 spent at On-line & Retail Landmark Shops (Life-style, House Centre, Max and Spar), Eating & Motion pictures, 1.25% reward charge
    • 1 Reward level per Rs. 100 spent on different retail purchases (Non gasoline), 0.25% reward charge
  • Milestone Advantages:
    • 5,000 cumulative reward factors on spending Rs. 95,000 on Landmark shops, 4.2% reward charge
    • 8,000 bonus Reward Factors on general annual retail spends of Rs. 2 Lakhs, 1% reward charge

Landmark SBI Card gives a reward charge of 5.45% on spending Rs. 95,000 on Landmark manufacturers which is sort of respectable. The default reward charge is mere 0.25% which is a big letdown. Nevertheless in case you handle to spend Rs. 2 Lakhs on this card, the reward charge reaches to 1.25%.

Bottomline

I really feel SBI Card and Landmark Group went overboard with launching these playing cards. 9 bank cards would definitely confuse prospects. I want they’d launched simply 3 variants to maintain it easy. Additionally amongst these, solely Prime and Choose variants are price contemplating in case you spend rather a lot on Landmark group manufacturers. The bottom variant has a really low default reward charge and different co-branded bank card, e.g. Flipkart Axis Financial institution Credit score Card, Amazon Pay ICICI Financial institution Credit score Card, Ola Cash SBI Credit score Card, are higher worth proposition than this.

Must you go for these playing cards? Properly I wouldn’t advocate these playing cards except you might be spending a big quantity on Landmark manufacturers.

What do you consider these new 9 bank cards from SBI Card and Landmark Group? Are you planning to take one in every of these? Let me know in feedback under.

 

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