SBI has launched a number of unique credit cards in India, such as the SBI Cashback Card. IRCTC SBI Card is another unique credit card coming from the stable of SBI. It is a Rupay card, it is important to note that Rupay keeps on launching various offers and discounts for its users from time which you can checkout on MyRupaya by clicking here. This blog dives into the benefits, potential downsides, fees, and eligibility criteria for this specialized credit card.
Overview of the IRCTC SBI Card
In partnership with the Indian Railway Catering and Tourism Corporation (IRCTC) and the State Bank of India (SBI), the IRCTC SBI Card is crafted for travelers. Its goal is to simplify train ticket booking while providing valuable rewards.
Benefits of the IRCTC SBI Card
The IRCTC SBI Card comes with a range of advantages, especially for those who frequently travel via Indian Railways. Here are some of the key benefits:
1. Reward Points
Creditcard holders on buying tickets through irctc.co.in & IRCTC Mobile App for AC1, AC2, AC3, executive chair car and chair car users will get upto 10% value back as reward points.
1 reward point will be awarded on INR 125 on all other spends. Effective general cashback rate: 0.8%
2. Complimentary Lounge Access
Travelers often face long waits at railway stations. With the IRCTC SBI Card, users can access select railway lounges four times a year for free. This convenience allows travelers to unwind in comfort before their journeys, making wait times more enjoyable.
3. Welcome Bonus
Creditcard holders will get 350 activation bonus reward points on a single transaction of INR 500 or more within 45 days of card issuance.
Potential Drawbacks of the IRCTC SBI Card
Every credit card comes with its pros and cons. Here are some drawbacks to consider before applying for the IRCTC SBI Card:
1. Low General Cashback Rate
The card offers a low general cashback rate. Which limits its appeal for individuals who do not travel using train frequently.
2. Limited Perks
The credit card is low on perks. It only offers free railways lounge visits. It does not offer any free movie tickets or airport lounge benefits.
Fees and Charges
It is important for potential cardholders to understand the fees associated with the IRCTC SBI Card:
Annual Fee (one time): INR 500 + Taxes.
Renewal Fee (per annum): INR 500 + Taxes.
Cash Advance fees: 2.5% or Rs. 500.
Interest Rate: Up to 3.50% per month (42% per annum).
Late Payment charges: 0 to 1300.
Reward Redemption Fees: INR 99/- per redemption.
Eligibility for the IRCTC SBI Card
It’s crucial to understand the eligibility requirements for the IRCTC SBI Card. Here are the main factors to consider:
1. Age Criteria
Applicants must be at least 21 years old to be eligible. This requirement ensures legal capacity for credit card transactions.
2. Income Levels
A minimum income threshold is typically required. However, the SBI website does not specify the minimum income level criterion.
3. Credit Score
A decent credit score is essential for approval. Individuals with poor credit histories may find it difficult to secure the card. The SBI website does not specify the minimum credit score required for this card.
4. Documentation
To apply, candidates must provide essential documents such as identity proof, address proof, and income verification. Having these ready can speed up the application process.
Final Thoughts
The IRCTC SBI Card is one of the best credit cards for booking railway tickets. If you travel using trains regularly you should definitely opt for it. However, in the event you do not travel using train frequently, the card will have limtied appeal for you majorly because it has a low general cashback rate and allmost no perks.
If you want to read a more detailed review of this card and find out its AI-powered unbiased rating click here.
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