Paytm SBI SELECT Credit Card | Features | Benefits | Annual Fee | Worthiness

We had written a brief introduction about the launch of Paytm SBI SELECT and Paytm SBI Card in one of our earlier articles. You might want to read about it by clicking here. This article brings you the details such as benefits & features, fees, etc., regarding Paytm SBI SELECT Credit Card.

Welcome Benefits

• Complimentary Paytm First Membership worth INR 750
• INR 750 Cashback

Cashback Structure

• 5% Cashback on all Travel, Movies and Paytm Mall purchases through Paytm App
• 2% Cashback on all other purchases through Paytm App
• 1% Cashback everywhere else

Milestone Benefits

• INR 2,000 gift voucher on achieving Annual Retail spend of INR 4 Lakh
• INR 4,000 gift voucher on achieving Annual Retail spend of INR 6 Lakhs

Fuel Surcharge Waiver

• 1% Fuel Surcharge Waiver across all fuel stations

Lounge Access

• 4 Complimentary Domestic Lounge visits (Restricted to 1 per quarter)
• Complimentary Priority Pass worth the US $99 for the first two years of cardholder membership

Annual Fee

• Annual fee: INR 1769 (Including Taxes)
• Annual Fee reversal on achieving INR 200,000 Annual Retail spend

ChargePlate's Opinion

We do not find this card worth it if we must shell out INR 1769 annually. Why should we when we do not see any unique offering on this card? 

Even if we consider the 5% cashback category, we will only start enjoying the cashback benefits on our spending beyond INR 35,400 as 5% of INR 35,400 is INR 1770, which we will end up paying as an annual fee. 

Further, why should someone spend INR 2,00,000 to get the annual fee reversal on a credit card that carries with it a couple of essential features? Most importantly, where will we spend Rs 2 Lakh on Paytm? Spending Rs 2 lakhs for travels, movie tickets annually is not on the table for most of us, and even if it is, why would we not do so from other available travels portals such as MMT, Yatra, etc. who keep running attractive promotions almost 365 days of the year? 

Regarding purchasing products from Paytm Mall, we reiterate the same question, WHY?

Should you require any further information, please do not hesitate to drop us a line in the comment section below. Alternatively, you can also write to us at admin@chargeplate.in.

Thanks for reading!