The IndiGo SBI credit card has drawbacks and conflicting opinions on its value proposition and charge schedule, while providing insurance advantages, airport lounge access, and IndiGo BluChips awards.
IndiGo and SBI Card have teamed up to provide a co-branded credit card in two different versions aimed at frequent travelers. With each purchase, users will get “IndiGo BluChips,” which they can use to buy flights, seats, meals, and other items.
To help you decide whether the card is a worthwhile addition to your wallet, here is a summary of its benefits, costs, and restrictions.
The Proposal
IndiGo SBI Card and IndiGo SBI Card ELITE are the two card varieties. The SBI Card has a dual-network configuration that enables both local and international transactions, as well as UPI payments, by combining two cards under a single account: the Mastercard and the RuPay card.
With the IndiGo SBI Card Elite credit card, you may earn seven IndiGo BluChips for every 100 rupees you spend on the IndiGo website and mobile app, and three IndiGo BluChips for every 100 rupees you spend on hotel and travel reservations on other platforms. When the customer spends Rs 12 lakh a year, they may get up to 25,000 more IndiGo BluChip coupons.
According to Sumanta Mandal, the creator of TechnoFino, a website that evaluates debit and credit cards, IndiGo BluChips normally have a redemption value of between Rs 0.40 and Rs 0.60 per. Mandal said that because redemption prices might change based on demand and availability, booking flights in advance can result in greater value for BluChips.
One of the main characteristics of the new IndiGo SBI Credit Card version, according to Card Insider co-founder Ankur Mittal, is that “it gives free airport lounge access countrywide, filling a void in the IndiGo IDFC FIRST credit card announced recently.” Additionally, Mittal emphasized a significant difference between the IndiGo SBI Card ELITE and the standard IndiGo SBI Card, pointing out that the ELITE version provides worthwhile insurance advantages.
Charges & Fees
While the IndiGo SBI Credit Card Elite has higher costs of Rs 4,999 + GST for both joining and renewal, the IndiGo SBI Credit Card has joining and renewal fees of Rs 1,499 + GST.
You will pay interest at the rate of 3.75 percent each month, or 45 percent annually, if you have an outstanding debt. While the IndiGo SBI Credit Card Elite has a reduced FX markup of 1.99 percent, the IndiGo SBI Credit Card carries a 3.50 percent markup.
Although the IndiGo SBI Credit Card Elite currency fee is reasonable, Mittal claims that it is not the greatest choice within its price range. A preferable option would be the IndiGo IDFC FIRST credit card, which has reduced currency markup costs, and the IDFC Mayura credit card, which has no forex markup fees and comparable joining and yearly rates.
What Is Effective
With the IndiGo SBI Credit Card Elite, cardholders may earn up to Rs 3,000 per ticket for up to four flight cancellations and up to Rs 72,000 for lost checked luggage. Mittal claims that this function offers cardholders a great deal of emergency protection. Additionally, both card types provide access to airport lounges.
What Is not Effective
Although yearly fee exemptions based on spending limitations are not available for the IndiGo SBI credit cards, cardholders do get extra vouchers and BluChips equal to the fees paid, which are 2,500 for the IndiGo SBI Card and 5,000 for the IndiGo SBI Card Elite.
Mandal claims that these BluChips function as cash for flights, but IndiGo alone determines their value, which is dynamic and susceptible to fluctuate depending on travel route, booking date, and availability.
Mandal said that since the value of the BluChip is dynamic, the IndiGo SBI Card Elite delivers a 3.5 percent return on IndiGo ticket reservations, assuming an average BluChip value of Rs 0.50. This reward rate is reasonable for a co-branded card, however, particularly for regular travelers who are affiliated with a single airline. Additionally, the return percentage for non-flight expenses falls to 1%, which is disappointing for a high-end product in Mandal’s opinion. Furthermore, our credit card is eligible for all IndiGo BluChip program perks.
The absence of necessary expenditure categories from earning points, including as insurance, rent, utilities, wallets, and government transactions, further weakens the card’s narrow reward structure and makes it far less useful for daily usage.
In contrast
Mandal suggested that the IDFC First Bank IndiGo Credit Card offers somewhat higher value on rewards than the SBI IndiGo Elite Card when compared inside the IndiGo co-branded ecosystem.
Do You Need to Apply?
With these cards, anybody who often travels with IndiGo may accrue points in addition to other perks like access to airport lounges. “These cards give BluChips as milestone incentives, so those with heavy spending may benefit from them,” Mittal added.
Mandal said that customers have more alternatives than just the two Indigo SBI credit card varieties. In contrast, cards such as the HDFC Regalia Gold and the Axis Atlas Credit Card provide larger returns, more significant milestone incentives, and more flexibility for a cheaper annual cost. The IDFC First Bank IndiGo Credit Card offers more rewards value than the IndiGo SBI Credit Card Elite, even inside the IndiGo co-branded market. Additionally, the currency markup fee for the IDFC First Bank IndiGo Credit Card is cheaper at 1.49 percent as opposed to 1.99 percent for the SBI IndiGo Elite Card.
Mittal advised making the most of the IndiGo SBI credit card‘s perks, such milestone awards, for individuals who still want to apply for any of its variations. “We anticipated much greater value and advantages given the annual premium of Rs 4,999 + GST for IndiGo SBI Credit Card Elite, but sadly, the card falls short of expectations,” Mandal said.