Make Way For the New (Metal) Kid On The Block: SBI Aurum Credit Card - Invite Only
I have been tracking this space closely for some years now and I was on the edge to know the bank who would move the first to launch a super premium card. The timing couldn't be better, more on that later and this would help SBI cover a lot of ground in terms of getting cremè da la cremè audience.
Here's Everything I Know So Far:
The card is "Invite Only"; keeping up with its image of uber premium cards. The print ads mostly were teasers & the webpage isn't any different.
For the uninitiated, it is one of the only three metal cards available in India. The other two being American Express Platinum Card & The One Card (Detailed review of this coming soon!).
SBI Aurum Credit Card offers the forex interchange rate of 1.99% plus taxes & it is applicable only on transactions above Rs. 1000/-. This is a pretty standard rate offered by leading credit cards from HDFC, ICICI Emeralde & Axis Magnus & Prestige.
Unlimited lounge access for international lounges, 4 lounge visits per quarter for domestic lounges & 1 spa session per quarter
The line up of perks is pretty similar to that of the new Diner's Black. It would cover yearly subscription of a various categories from Food to Entertainment to Accessory
Amazon Prime Membership
Big Basket's BB Star Membership
Discovery Plus Membership
Easy Diner Membership
Lenskart Gold Membership
Zomato Pro Membership
Other Joining & Milestone Driven Rewards:
SBI Aurum Credit Card offers 40,000 Reward Points as a part of the joining bonus after the initial joinee fee of Rs. 10,000 has been paid. Since the reward ratio is Rs. 0.25, this means that the joining fee is waived off for the first year.
Free BookMyShow Tickets worth Rs. 1000/- per month; the caveat being only 2 tickets can be availed per transaction & the max discount would be Rs. 250 per ticket. SBI Signature & Elite already offers a sweeter deal than this although you can buy 4 free movie tickets with the SBI Aurum Credit Card.
There are other milestone rewards like Tata Cliq vouchers worth Rs. 1500/- per month if the spends are over Rs. 1 lac/ month. This is again pretty similar to HDFC Diner's Black Rewards which gives Rs. 500 on crossing the milestone every month.
Reliance luxury brand vouchers (Victorionox, Diesel, GAS, Hamleys, Ermenegildo Zegna, Giorgio Armani, Bottega Veneta, Jimmy Choo, Burberry and Salvatore Ferragamo & a couple others) worth INR 5,000 when you cross INR 5 lakh spend per annum.
Taj Vouchers worth INR 10,000 when you cross INR 10 Lakh spend per annum.
Waiver of annual fees for the next year when you cross INR 12 lakh spend per annum.
Want To Get Your Hands On It?
While this claims to be an invite only card, do check if you have received any email from SBI. Please do check your net banking too, you may find a targeted banner there.
I have also been apprised of an SBI campaign link, which is now defunct that was letting almost everyone apply for it. Just share the link if it's up again.
While I am yet to use and see how it pans out, this highly anticipated SBI Aurum Credit Card might see a stiff competition from other banks. The timing is great because HDFC Bank, the largest market share owner in the credit card segment, has been banned from issuing any new credit card for 6 months and mostly all banks would like to seize this opportunity to gain a substantial ground especially in the premium segment.
The SBI Aurum Credit Card does has some pretty interesting line up. My Daddy Dearest has qualified & I can't wait to get my hands over it too. I am most excited about the spa session so far & waiting to know more details. There are hardly any cards in India that include spa session as a reward.
SBI Team has invested their time in making a truly exceptional experience in terms of packaging, design & the delivery. The card comes with a 22K gold purity certificate and a bigger box than HDFC Infinia credit card that too, wooden (Digression: I am a hoarder of pretty boxes & wooden ones are always the sturdiest. Digression ends). I am yet to see the packaging but none of the cards that I have got my hands on so far had a wooden box.
I have been told that the delivery experience is pretty special too but it's something we are yet to experience.
On the other side, since SBI always touted Aurum Credit Card as the uber premium card, I expected better memberships and subscriptions. Nature's Basket subscription or any Gourmet/Organic membership would have made better sense. I also expected it to do a lot more especially in the travel services category. Something to make the airport transfers & air travel more distinguished. The current reward benefits are comparable to any of many of the other regular credit cards available in India. I will share a more detailed post when I have tried the card. For now, I am waiting to get my hands on the metal & gold plated card. Hopefully, I wouldn't lose it as it would otherwise set my dad back by Rs. 1500/-. Mic Drop!