SBI IRCTC Platinum Credit Card: Features, Application, and Fees

The SBI IRCTC Platinum Credit Card is an excellent financial tool, especially for the frequent travelers and railway enthusiasts. It's a joint venture between State Bank of India (SBI) and Indian Railway Catering and Tourism Corporation (IRCTC), that offers a myriad of benefits catering to the specific requirements of Indian railway passengers. Be it discounts on train travel, reward points that can be redeemed on various services, this credit card has really made a difference in the utility aspect for someone who often books train tickets and travels across the country.

In this article, we are going to go in-depth on the advantages, charges, and how to apply for the SBI IRCTC Platinum Credit Card. If you have made up your mind to apply for this card, it is essential to understand what you are gaining and at what cost so that you can make a well-informed decision.

Benefits of the SBI IRCTC Platinum Credit Card

The main reason to apply for the SBI IRCTC Platinum Credit Card is the numerous benefits it provides. Not only does it make booking easier, but it also saves a lot and rewards the frequent traveler with good savings and rewards. Here are some of the key advantages:

1. Earn Reward Points on Every Purchase

One of the most prominent features of the SBI IRCTC Platinum Credit Card is the reward points. For every ₹100 spent on IRCTC bookings, including train ticket purchases, food and beverages, and other travel-related services, cardholders earn 10 reward points. Therefore, it is a great option for those who travel by train and book their tickets through the IRCTC portal frequently.

The rest of the spending will fetch 1 reward point per ₹100 spent. These reward points can be redeemed in different rewards, such as future discounts on IRCTC, free meals, or products purchased from an online catalogue.

2. Complimentary Lounge Access

Complimentary access to lounges at airports is also an added benefit for frequent flyers through the SBI IRCTC Platinum Credit Card. This facility is available only at some domestic airports, thus allowing cardholders to rest in comfortable lounges before boarding their flight. One of the premium features that differentiate this credit card for train and air travelers is its lounge access.

3. Discounts on IRCTC Ticket Bookings

The SBI IRCTC Platinum Credit Card has exclusive discounts for cardholders who book tickets on the IRCTC website. It offers a 1% discount on train ticket bookings, which may add up over time if you frequently book your tickets via IRCTC.

4. Earn Additional Reward Points on Bookings

Apart from the general reward points that are earned on regular purchases, cardholders can also earn extra points for booking railway tickets, hotel stays, and holiday packages through the IRCTC website. This further amplifies the value of the card for regular IRCTC users.

5. Fuel Surcharge Waiver

It offers an SBI IRCTC Platinum Credit Card that offers a waiver on fuel surcharge for people who regularly travel. This also offers up to 1% saving on fuel purchase, as it is a tiny benefit for consumers who spend regularly on fuel.

6. Movie and Dining Offers

The SBI IRCTC Platinum Credit Card provides cardholders with numerous offers and discounts on movies and dining. Such offers include discounted movie tickets at some cinema halls and rebates at restaurants partnering with the bank. Therefore, it is a great all-around card, covering travel expenses, as well as other forms of entertainment and dining out.

7. Contactless Payments

The card also offers the convenience of contactless payments, allowing users to make quick and secure transactions without needing to swipe the card. This is especially useful for smaller purchases or during travel when you’re in a hurry.

SBI IRCTC Platinum Credit Card Fees and Charges

Although the SBI IRCTC Platinum Credit Card offers so many benefits, it also incurs certain fees and charges that need to be known by the cardholder. This will allow you to determine whether this credit card suits your financial requirements.

1. Annual Fee

The only fee incurred on the SBI IRCTC Platinum Credit Card is the annual fee. For now, it comes with a charge of ₹500 along with applicable taxes. The charge is very economical for its benefits offered in the list, considering one travels regularly or often makes bookings with IRCTC.

2. Joining Fee

Along with an annual fee, the SBI IRCTC Platinum Credit Card also features a joining fee of ₹500 along with applicable taxes. Such fee is normally waived when it comes to promotional offers; therefore, one has to keep checking any available ongoing offer before one applies for a card.

3. Interest Charges

This card, like any other credit card, carries an interest charge when the amount is not fully paid off on or before the due date. For the SBI IRCTC Platinum Credit Card, the average interest rate per month stands at around 3.35% which would work out to approximately 40% on an annual percentage rate basis. This makes it crucial that the dues are paid in full so that high interest rates do not accrue on such amounts.

4. Cash Withdrawal Fees

Cash withdrawal using your SBI IRCTC Platinum Credit Card is subject to a fee. The cash withdrawal fee is usually 2.5% or ₹300, whichever is higher, on the transaction. Also, interest on cash withdrawals begins to be accrued immediately, which can quickly rack up, so it is advisable to avoid using your credit card for cash withdrawals unless absolutely necessary.

5. Foreign Currency Markup Fee

Foreign Currency Markup Fee: If you use your card for transactions in foreign currencies, you'll be charged a foreign currency markup fee of 3.5% of the transaction amount. This is very important for those who have plans to use their SBI IRCTC Platinum Credit Card abroad.

How to Apply for the SBI IRCTC Platinum Credit Card

Applying for the SBI IRCTC Platinum Credit Card is pretty simple. You can apply for the card online or visit an SBI branch.

1. Online Application

Apply online by visiting the official website of SBI and filling out the online application form. You will need to provide some basic personal and financial details such as your name, contact information, income, and existing credit score.

2. Offline Application

If you prefer to walk into the branch to apply, you can visit any SBI branch and they will help you apply for the same. You can submit your document in person.

3. Documents Required

The below lists the documents you will require for online as well as offline applications. These consist of proof of identity and a proof of address, such as salary slips or income tax returns, and a photograph that is passport-sized, apart from any additional documents prescribed over there.

Conclusion

This SBI IRCTC Platinum Credit Card is a great option for frequent travelers who use the IRCTC platform for booking train tickets and other travel services. With its attractive reward points, discounts on ticket bookings, complimentary lounge access, and other perks, it offers significant value to those who regularly travel by train or engage in related activities. But then potential cardholders ought to be aware of the fees and the interest rates so as not to spend more than intended.

If it is true that you travel often, especially if you use IRCTC frequently, then the SBI IRCTC Platinum Credit Card can work wonders for you while saving money and enjoying high quality in travel.