SBI Prime credit card and IDFC First Select credit card offer great benefits to cardholders. But, if you had an option to choose, which one would you go for and why? Let’s take a look at the detailed comparison between the two.

SBI Prime Credit Card Vs IDFC First Select Credit Card 

 

SBI Prime Credit Card

IDFC First Select Credit Card

Joining Fees

Rs. 2,999 + taxes

NIL

Renewal Fees

Rs. 2,999 + taxes

NIL

Welcome Gift

E-voucher worth Rs. 3,000

Voucher worth Rs. 500 on spending more than Rs. 15,000 within the first 3 months.

Benefits Offered by SBI Prime Credit Card

  1. Annual and Renewal fee of Rs. 2,999 + taxes.
  2. Welcome gift worth Rs. 3,000 redeemable from brands like Bata/Hush Puppies/Pantaloons/Aditya Birla Fashion/Shoppers Stop, & Yatra.com
  3. E-gift voucher from Yatra worth Rs.7,000 on spends of Rs. 5 lakhs
  4. Renewal fee waiver on spending Rs. 3 lakhs.
  5. 10 reward points for every Rs. 100 spent on dining, departmental stores, groceries, and movies.
  6. Pizza Hut gift voucher worth Rs. 1,000 on spending Rs. 50,000 in a quarter.
  7. Trident Privilege Membership
    1. Get complimentary Trident Privilege Red Tier membership.
    2. Get 1,000 welcome points on registration
    3. Avail of 1,500 bonus points on your first stay at Trident and an extra Rs. 1,000 hotel credit on another night’s stay
  8. Club Vistara Membership
    1. Get a complimentary Club Vistara Silver Membership
    2. Get a complimentary 1 upgrade voucher
    3. For every Rs. 100 spent on Vistara flights, get 9 Club Vistara Points
  9. Lounge Access
    1. Enjoy 4 complimentary visits in a year to International Priority Pass lounges. Maximum up to 2 in a quarter
    2. 8 complimentary visits annually to Domestic Priority Pass lounges in India. Maximum up to 2 in a quarter.
  10. Birthday benefits – Get 20 reward points on every Rs. 100 spent, maximum birthday reward points to be earned are 2000.

Fees and Interest Charges for SBI Prime Credit Card

Type of fee

Fee

Cash Advance Fee

2.5% or Rs.500, whichever is higher

Cash Payment Fee

Rs. 250 + Taxes

Interest-free grace period 

20-50 days

Finance charges

3.5% monthly (42% annually)

Late payment charges

NIL for outstanding between 0-500

Rs. 400 for outstanding between Rs. 500 to Rs.1,000

Rs. 750 for outstanding between Rs. 1,000 to Rs.10,000

Rs. 950 for outstanding between Rs. 10,000 to Rs.25,000

Rs. 1100 for outstanding between Rs. 25,000 to Rs.50,000

Rs. 1300 for mount due more than Rs.50,000

Payment Dishonor fee

2% of the dishonor amount subject to a minimum of Rs. 500

Rewards Redemption Fee

Rs.99

Card Replacement fee

Rs.100 to Rs.250

Credit Limit increase fee

Rs.200

Network change fee 

Rs.200

Cheque payment fee

Rs.100

Foreign currency transaction fee

3.50%

Processing fee

Rs.99

Benefits Offered by IDFC First Select Credit Card

IDFC First Select Credit Card comes with premium features for a select few. It is a premium credit card with low-interest rates, lifelong free benefits, and year-round promotions.

Key highlights of IDFC First Select Credit Card

  • Lifetime-free credit card with no annual fee.
  • Welcome voucher worth Rs. 500 upon spends of Rs. 15,000 within the first 90 days
  • “BOGO” on movie tickets on the Paytm app, maximum up to Rs. 250.
  • Avail of complimentary roadside assistance worth Rs. 1,399.
  • 1% fuel surcharge waiver, maximum up to Rs. 300 per month.
  • 20% discount at 1500+ partner restaurants
  • 15% discount at 3000+ health and wellness outlets
  • Offers at 300+ partner merchants
  • Personal accident cover of Rs. 5,00,000. 
  • Get 4 complimentary visits to the railway lounge, per quarter.
  • Get 4 complimentary visits to the domestic airport lounge every quarter.
  • Lost card liability cover of up to Rs. 50,000.
  • Comprehensive travel insurance cover of Rs. 22,500
  • Get air accident cover up to Rs.1 crore.
  • Unlimited reward points that never expire.

Fees and Interest Charges for IDFC First Select Credit Card

Annual Fee

NIL

 

Interest-free cash withdrawal

Rs. 250 per transaction

Up to 48 days from the date of issue

Overlimit Charge

2.5%, minimum Rs. 500

 

Interest rates

0.75% to 3.5% per month (9% to 42% annually

 

Forex MarkUp

1.99%

 

Late Payment Fee

15%, minimum Rs. 100, and maximum Rs. 1,250

 

Cash Advance Fee

Rs. 199

 

Cheque Return Charges

Rs. 250

 

Reward Redemption fee

Rs. 99

 

Card Replacement Fee

Rs. 100

 

Fuel Surcharge Waiver

1%

 

Eligibility Criteria for SBI Prime Credit Card and IDFC First Select Credit Card

 

SBI Prime Credit Card

IDFC First Select Credit Card

Age

18-70 years

21 years

Add-on credit card

Above 15 years

 

Income

 

Rs. 12 lakhs per annum

Residency Status

Resident/Non-resident Indian

Indian resident

Documentation Needed for SBI Prime Credit Card and IDFC First Select Credit Card

 

 

SBI Prime Credit Card

IDFC First Select Credit Card

Identity Proof

PAN card/Driving license/Aadhaar card

Aadhaar card/ Passport/ Driving license

Address Proof

Ration card/Passport/Aadhaar card/Electricity bill

Bank statement/Rental agreement/Ration card/Passport

Income Proof

Form 60

Salary slip/IT returns/Form 16

Application Process for SBI Prime Credit Card

Apply to SBI Prime Credit Card via CreditMantri

  1. Click here to apply for an SBI Prime credit card
  2. Click on “Check Eligibility”.
  3. Fill in all the personal details like name, residence pincode, residence city, employment type, mobile number, etc.
  4. Click on “Submit”.
  5. View the Eligible card offers in Step 2.
  6. Apply for the card and wait to hear back from CreditMantri.

Apply to SBI Prime Credit Card via SBI Official Website

  1. Go to the SBI Prime credit card page on the official website of SBI.
  2. Click on “Apply”.
  3. Select SBI Prime credit card and click on “Apply Now”.
  4. Click on “Start apply journey”.
  5. Fill in your personal details, followed by professional details, and finally KYC details.
  6. Complete the rest of the application and wait to hear back from SBI.

Application Process for IDFC First Select Credit Card

Apply to IDFC First Select Credit Card via CreditMantri

  1. Click here to apply for an SBI Prime credit card
  2. Click on “Check Eligibility”.
  3. Fill in all the personal details like name, residence pincode, residence city, employment type, mobile number, etc.
  4. Click on “Submit”.
  5. View the Eligible card offers in Step 2.
  6. Apply for the card and wait to hear back from CreditMantri.

Apply to IDFC First Select Credit Card via IDFC’s Official Website

  1. Go to the IDFC First Select credit card page on the official IDFC website
  2. Click on “Apply Now”.
  3. Fill in all the details
  4. Click on “Get OTP”.
  5. Go ahead to complete the rest of the application.
  6. Wait to hear back from IDFC.

Conclusion

SBI Prime credit card and IDFC Select credit card have attractive benefits and offers. However, if you are someone who travels a lot, SBI Prime is a better credit card for you. With complimentary airport lounge access, Trident membership, Club Vistara membership, and E-voucher from Yatra on spending 5 lakhs, this card has a lot of benefits for frequent travelers. The IDFC select credit card is great for people who do not want to pay joining fees and looking for discounts on shopping, dining, movies, etc. It is also a good card for people who travel but not so frequently.

Frequently Asked Questions

What is the SBI Prime Credit Card?

The SBI Prime Credit Card is a premium credit card offered by the State Bank of India (SBI). It is designed to provide various benefits and privileges to cardholders, including rewards, discounts, and exclusive offers.

Is an IDFC First Select credit card a good card?

IDFC First Select credit card has no joining fees and offers a range of offers on dining, movies, health, and wellness. It is a great credit card with offers for everyone.

How can I apply for the SBI Prime Credit Card and IDFC First Select Credit Card?

You can apply for both credit cards through Creditmantri in a few easy steps or by visiting the official bank website or by visiting the nearest SBI branch. The application process typically involves filling out the application form, submitting necessary documents, and meeting the eligibility criteria set by the bank