The IRCTC SBI Platinum Credit Card is one of the standard credit cards provided by SBI Card as part of their partnership with IRCTC. Since it is an entry-level card, the functions are restricted, yet it is an excellent choice for those who frequently travel by train. The reward rate may go up to 10% when you purchase rail tickets via the IRCTC site, which is one of this card’s most significant perks.
The IRCTC SBI Platinum Credit Card is white and has a distinctive design created by a well-known cartoonist named R. K. Laxman. Even while the card does not have a luxury feel when held in your hand, it visually appeals to the eyes. The card is equipped for contactless transactions and may be used for purchases made via the Visa Platinum platform.
The Criteria for Eligibility
Even though SBI Card has not made public the qualifying requirements for the IRCTC SBI Platinum Credit Card, I was able to get the following information from their executive: You must be at least 21 years old. Salaried: Net Monthly Income > Rs. 25,000 per month. Self-Employed: ITR > Rs. 3 Lakhs per year. SBI Card is very strict about credit history, and there is a high chance of rejection if you do not have a credit history or if your credit score is low. SBI Card requires a minimum annual income of Rs. 3 Lakhs.
Charges + Features
The joining fee is Rs. 500 in addition to GST. The renewal charge is Rs. 300 in addition to GST. There is no spend-based renewal fee waiver criterion, so one must pay the renewal price annually. There is no way to avoid paying the membership charge since SBI Card does not issue credit cards for free, so there is no way to avoid paying the price. Because it is a co-branded credit card with SBI, the IRCTC SBI Platinum Credit Card offers its users possible rewards when making purchases with its partner brand, IRCTC.
Welcome benefit
You will get 350 activation bonus points when you purchase Rs. 500 or more within 45 days of the card being issued; you will receive Rs. 350. Rs. 100 cash back on the first ATM cash withdrawal within 30 days of acquiring the card, although I wouldn’t advocate doing it since it comes with pretty hefty interest charges.
So keep that in mind if you want to take advantage of this perk. In addition, for a limited time only, if you apply for this card online, you will get a BookMyShow coupon good for Rs. 250 in free movie tickets. The joining cost is reduced to nothing due to the welcome bonus, providing some welcome respite.
Points for Rewards
As an incentive for using IRCTC to buy train tickets, customers are given one reward point for every one rupee of value back on AC1, AC2, AC3, and AC CC train tickets. 1 Reward Point for every Rs. 125 spent on other retail items (Non-fuel), including purchases of train tickets at IRCTC, 0.8% reward rate. Peak Season: 10%. Off-peak Season: 4%. The reward points have a validity period of three years, during which time they may only be redeemed for railway tickets via the IRCTC site.
Remission of fees associated with transactions + Costs Relating to Finances
Exemption of the 1.8% transaction fee for the booking of rail tickets. A markup on the foreign currency of 3.5 percent. A revolving credit line with an interest rate of 3.35 percent per month. A remission of one percent of the fuel levy for each transaction ranging from 500 to 3,000 rupees, with a cap of 100 rupees every statement cycle
Supplementary Benefits of the IRCTC SBI Platinum Card
No Transaction Fee: When buying tickets via the IRCTC website, there will be no 1% transaction fee. Travel Privileges: Tailor-made programmes for adventure, wildlife, pilgrimage, and leisure excursions to different locations in India are offered. Plane Tickets: Discounted airline tickets are available. Hotel Costs: Lower hotel tariffs are offered in 350 Indian cities. Fuel Cost: Waiver of 1% fuel surcharge on transactions between INR 500 and INR 3,000; limit on 100 transactions each statement cycle.
Flexipay: This tool allows you to split your payments into easy monthly instalments (EMIs). After purchasing INR 2,500 or more using this card, consumers may log in to the bank’s website with their username and password within 30 days of purchase to convert the amount spent into EMIs. Railway Ticket Delivery: Tickets purchased online with the IRCTC SBI Platinum Card are sent to the cardholder’s postal address. Add-on Card: This card may be used for your parents, spouse, children, or siblings who are above the age of 18.
Drawbacks
Since the IRCTC SBI Platinum Credit Card is a starter card, I have low hopes for it. Despite this, there are a few things about this card that I want to call attention to as negatives. An inconsistent reward rate throughout the year. The fact that the reward rate is capped at 4% during the shoulder seasons is something that I still need to get.
It would have been more efficient for SBI Card to have provided a consistent 10% reward rate throughout the year rather than segmenting it into peak and off-peak times to simplify the reward structure. There is no spend-based renewal fee waiver, but the conditions for spend-based renewal fee waivers are on all other SBI credit cards.
I do not understand why SBI Card did not include this card in the same. This would have been an excellent addition to this card, and it would have prompted a more significant number of individuals to choose this option as their payment method.
Conclusion
The IRCTC SBI Platinum Credit Card is a sound starter card for folks who often travel by rail. The 10% reward rate on rail tickets during peak season is pretty excellent, with no maximum limit. However, if you do not regularly travel by rail, I advise you to avoid this card.
If you wish to keep a low-fee SBI card in your pocket just for partner merchant deals, I recommend the SBI SimplyCLICK credit card if your spending is mainly online and the SBI SimplySAVE credit card is primarily offline. How have you found the IRCTC SBI Platinum Credit Card? Please let me know in the comments section below.
