IRCTC SBI Platinum Credit Card Review

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IRCTC SBI Platinum Credit Card Review

The IRCTC SBI Platinum Credit Card was introduced in partnership between IRCTC and State Bank of India (SBI) to exclusively target Indian Railways frequent travellers. At a very low annual fee of INR 300, this card is an excellent card option for anyone who frequently travels by train. However, the APR at 40.2% is rather high and benefits beyond IRCTC are very low.

FinTown Rating: 3.5/ 5

IRCTC SBI Platinum Credit Card
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Rating by Category:

Category                                              Rating (out of 5)
Annual Fee                                               5
Rewards Rate
Initial Bonus  2
APR  3

Air travel is a small fraction of the overall travel market in India. SBI hit the right note with their IRCTC SBI Platinum Credit Card by targeting train travelers. While many other cards are focused on airline benefits, this is the only credit card geared towards railways. By additionally having some benefits for other spend and fuel surcharge, this card offers more than just IRCTC benefits.

Pros & Cons:

Reasons to Choose  Reasons to Avoid  
Low Annual Fee  High interest rate
 Transaction waiver on IRCTC bookings  Rewards limited to IRCTC
Fuel Surcharge Waiver

Rewards &Benefits:

  • Welcome Bonus: 
    • 350 Reward points on spending INR 500 within 45 days of card issuance
    • INR 100 cashback on first ATM withdrawl within 30 days of card issuance
  • IRCTC Benefit:
    • Save 1.8% transaction charge on all your bookings with IRCTC, exclusive of GST
  • Rewards Benefits
    • 1 Reward Point = INR 1
    • Earn 10% Valueback as Reward points for bookings on AC1, AC2. AC3 and AC CC
    • Earn 1 Reward point for INR 125 spent on non-fuel retail spend
  • Fuel Surcharge Waiver
    • 1% fuel surcharge on fuel transactions between INR 500 – 3000, exclusive of GST

 Is the rewards rate good?

For IRCTC bookings, the value back is 10%, where 1 reward point equals INR1.

Get 1 Reward point for every INR 125 spent on non-fuel retail purchases, including railway ticket purchases at . Therefore, the rewards rate is 4/5% or 0.8%.

Is this card for you?

  • This card is for you if: You are a frequent IRCTC traveller
  • You like to take trains

How to Redeem rewards?

To redeem your SBI reward points, you can use either the SBI website or Mobile app.  You can redeem points against gift voucher or cash. You can choose a range of products from the rewards catalogue after logging in to your account. It might take 3-10 days to get the gift vouchers. Additionally, the reward redemption handling fee is INR 99.

How to make the most of this card?

To make the most of this credit card, you should do all your IRCTC Bookings using this credit card. Complete your first transaction and get activation points worth INR 350 within first 45 days of card issuance. Similarly, get INR 100 on first ATM withdrawal.

IRCTC SBI Platinum Credit Card: Payments & Fees :

Annual Fee  INR 300  + GST; Joining Fee – INR 500 + GST
Foreign Transaction mark-up fee  3.5% of the transaction amount.
Cash Withdrawal Fee 2.5% of cash withdrawal amount subject to a minimum of INR 300 for SBI ATMs

3%  of cash withdrawal amount subject to a minimum of INR 300 for non- SBI ATMs

Late Payments Fee INR 100 to INR 750 depending upon statement outstanding balance.
Over Limit Fees INR 500 per instance or 2.5% of the Overlimit amount. (Minimum INR 500)
Minimum Payment Due (MPD) on
extended credit usage
5% of Total Outstanding (Min. INR 200 + all applicable taxes + EMI ( In case of EMI based product) + OVL amount (if any)

Terms & Conditions Explained:

  • Free Credit period or Grace Period: Nil
  • Cash advance limit: Up t 80% of credit limit, maximum INR 12,000 per day
  • Fuel Surcharge Waiver: Maximum waiver of INR 100 per statement cycle

Application – Eligibility & Documents:

  • A good credit history
  • A stable source of income
  • Age between 21-60 years
  • Identity proofs including PAN Card, Voter’s ID, DL, Aadhaar Card, etc.
  • Address proof – official document displaying current place of residence.
  • Salary slips for the latest 2 months
  • 1 Passport sized photograph

Find Fintown’s List of India’s BEST CREDIT CARDS in 2018 [Best Offers]

Other credit cards with similar/better features:

There is no credit card which provides savings and benefits on Indian Railways bookings better than IRCTC SBI credit Card. However, if you are looking for a low annual fee credit card that can give you rewards on IRCTC Indian Railways ticket bookings, you can look at the Axis Privilege Credit Card. Axis Privilege Credit Card offers vouchers on Yatra which cardholders can use to make Indian Railways ticket purchases. The Axis Privilege Credit Card has an annual fee of INR 1500 and it comes with a joining bonus of INR 5000 Yatra voucher and a milestone Yatra voucher of INR 5000 for annual spend of over INR 2.5 Lakhs. Additionally, the card also gives 10 points on every INR 200 spent on the credit card and 2 lounge access passes every quarter.

Final Verdict:

The IRCTC SBI Platinum credit card should be a must-have for those who frequently travel with Indian Railways. With an annual fee of Rs. 300 and sign-up bonus worth INR 450, this IRCTC card is a value-for-money card. Additionally, the 1.8% transaction fee waiver and reward points are good. On the flip side, interest rate or APR is high and the card must be avoided by those who want to rotate balance on their credit card.



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