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  • Karnataka Bank SBI Platinum Credit Card is Rated as "Pretty good" by 5 Users

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    Karnataka Bank SBI Platinum Credit Card

    Karnataka Bank collaborated with State Bank of India to launch two new co-branded credit cards, ‘Karnataka Bank SBI Platinum Credit Card’ and ‘Karnataka Bank Simply Save SBI Card’.

    Launched in March 2017, the two cards are designed to cater the needs of two different categories of people. In this article, we will discuss about Karnataka Bank SBI Platinum Credit Card, which is exclusively developed for elite customers.

    Karnataka Bank SBI Platinum Credit Card

    Designed around the lifestyle and spending patterns of premium class, the co-branded card comes with a bunch of features, rewards, travel offers, complimentary memberships, dining offers and lot more. Let’s look at them in detail.

    Features of Karnataka Bank SBI Platinum Credit Card

    • Access to golf courses across the globe: With the premium card, card holders get access to more than 300 golf courses across the world. They will also get 30% discount on the green fee.
    • Cash withdrawal: Cash can be withdrawn from more than 1 million Visa-powered ATMs across the globe
    • Fuel surcharge waiver: Surcharge on fuel which is typically 1% on the bill will be waived for transactions above Rs.500. The maximum surcharge waiver is, however, limited to Rs.250 per month or statement cycle.
    • Auto bill pay: The card comes with an easy bill pay facility, which enables users to provide standing instructions to the bank to make bill payments such as telephone, electricity, insurance premiums automatically every month.
    • Convert dues into EMIs: With Flexipay option customers can convert their credit card bills into easy EMIs or equated monthly instalments. The option is available within 30 days of purchase and can be activated by calling SBI helpline at 1860 180 1290.
    • Transfer balance from other credit cards: Outstanding dues on other credit cards can be transferred to Karnataka Bank SBI Platinum Credit Card through the ‘Balance Transfer on EMI’ facility. Customers can enjoy low interest rates and repay the dues in EMIs. The feature can be availed through SBI internet banking.
    • Manage online: By registering the card in SBI net banking account, card holders can manage their cards online. They can check their monthly statements, available credit, outstanding dues, request for change in address and similar service by registering their card online.
    • Easy money facility: The features allows the card holders to get a draft or cheque against their cash limit delivered to their registered address.
    • Emergency card replacement: Card replacement service is available across the globe and can be available by contacting 24x7 helpline numbers.
    • Acceptable across the world: Powered by VISA, the credit card is accepted in over 2 million outlets across the globe and in more than 2.5 lakh stores in India
    • Add-on cards: Users can share their card with their family by applying for add-on cards. The card holder’s parents, spouse, siblings and children above 18 years of age are eligible to apply for an add-on Platinum credit card.

    Karnataka Bank SBI Platinum Credit Card – Fees and charges

    This section will let you know the fees and charges applicable for the credit card.

    • Annual and renewal fees
      • One-time annual fee - Rs.2,999
      • Annual renewal fee - Rs.2,999

    There is no fee for the add-on credit cards.

    • Extended credit charges
      • An interest free repayment period of 25-50 days is available for all retail purchases, provided all the outstanding dues from the previous month are cleared
      • An interest rate of up to 3.35% per month is applicable from the date of purchase
      • 5% of the total outstanding will be calculated as minimum amount due with a minimum of Rs.200. All the EMIs pertaining to EMI-based loans will also be included in the minimum due.
    • Cash advance and fee
      • A cash advance limit of up to 80% of the credit limit with a maximum of Rs.15,000 per day is available and there is no interest free period for this amount
      • For cash withdrawn from SBI and other bank ATMs, a cash advance fee of 2.5% of the transaction amount will be charged, subject to a minimum of Rs.300
      • Cash withdrawals from international ATMs will attract an advance fee of 3% of the transaction amount with a minimum of Rs.300.
    • Late payment fee
    Total Amount Due (Rs.) Fee (Rs.)
    0 – 200 Nil
    201 - 500 100
    501 – 1,000 400
    1,000 – 10,000 500
    Greater than 10,000 750
    • Surcharges
      • For railway tickets purchased through IRCTC counters, a fee of Rs.30 and 2.5% of the transaction amount will be charged
      • For railway tickets booked using IRCTC portal, 1.8% of the transaction amount and service charge will be levied
      • For petrol, diesel and other products sold at petrol pumps, a surcharge of 1% per transaction for all the transactions above Rs.500 to Rs.4,000 will be charged.
    • Other charges
    Cheque pickup fee Rs.90
    Statement retrieval fee Rs.100 per statement (more than 2 months old)
    Charge slip retrieval fee Rs.225 per charge slip
    Card replacement charge Rs.100
    Rewards redemption fee Up to Rs.99
    Payment dishonour fee  2% of the payment amount
    Cash payment fee Rs.100
    Emergency replacement in abroad Nil
    Over limit fee 2.5% of the over limit amount (min. Rs.500)
    Foreign currency transaction fee 3.5% conversion mark-up

    Reward points on Karnataka Bank SBI Platinum Credit Card

    • Card holders will earn 2 reward points for every Rs.100 spent on the card. On redeeming the reward points, every four points will bring Rs.1.
    • Purchases at dining places, grocery stores, departmental stores and international spends attract five times more reward points, which means for every Rs.100 spent at the aforementioned places, 10 reward points can be earned.
    • Fuel transactions do not attract any reward points
    • In the 5X category, a maximum of Rs.40,000 cash points can be earned in a year
    • The reward points can be redeemed to pay outstanding amount on the credit card or to purchase items from the rewards catalogue

    Gifts and rewards Karnataka Bank SBI Platinum Credit Card

    • Bonus spend rewards: For annual spends of Rs.4 lakh and Rs.5 lakh, an e-gift voucher worth Rs.3,000 from selected brands will be provided.
    • Welcome and anniversary gift: Card holders will receive a welcome gift – an e-Gift voucher worth Rs.3,000, after paying the annual fee. They will also receive an anniversary gift, if the minimum spend in the previous year is Rs.2 lakh and when the annual fee is paid.

    Other Offers and Privileges of Karnataka Bank SBI Platinum Credit Card

    In addition to the regular features and benefits, card holders can available additional offers and privileges as listed below

    • Travel and car rental benefits: Cardholders can avail up to 75% discount at more than 55,000 hotels across the globe. The offer is also valid at some resort destinations such as Bali, Phuket, Cebu, Okinawa, Da Nang and more. They can also book Pacific vacation with special hotel promotions in Guam, Melbourne, Brisbane, Perth and more.

    Under the Hertz Car Rental Programme, card holders can get a 10% discount on self-drive or chauffeur-driven rentals. They can also enjoy 20% discount on Avis rental.

    Sponsored by Visa, the travel and car rental offer is valid for a limited time

    • Lounge access in airports: The card also offers complimentary membership to the priority pass programme which provides access to over 600 airport lounges in 300 cities across the world. The access is available to all airlines lounges, which provide refreshments, internet access, TV and much more.
    • Dining offers: Again sponsored by VISA, the dining offers provide 10% discount on Marriot Hotels in India and 15% discount on the best available rate for the day at Ginger hotels.
    • Fraud liability cover: The card also comes with credit card fraud liability cover up to Rs.1 lakh with a loss cover period of 48 hours prior to reporting loss and seven days post reporting loss. 

    Karnataka Bank SBI Platinum Credit Card Reviews

    • Karnataka Bank Credit Card
      "Satisfactory"
      0.5 4.5/5 "Excellent!"
      My salary account was taken with KARNATAKA Bank 3 years back. They have offered visa platinum card and the daily withdrawal limit is 25,000. The branch service was really good and its a 0 balance account . I am happy with the service and responses .
      Was this review helpful? 2
      , bangalore
      Reviewed on Sep 08, 2018
    • Karnataka Bank Credit Card
      "Good service"
      0.5 2.0/5 "Expected more"
      I have applied for the KARNATAKA BANK credit card but they haven't approved my credit card application saying that I need to maintain the fixed deposit of Rs,60,000 , then only they can approve my credit card application, so that was the reason I haven't got the credit card from KARNATAKA BANK.
      Was this review helpful? 1
      , bangalore
      Reviewed on Dec 26, 2017
    • Karnataka Bank Credit Card
      "Good Service"
      0.5 5.0/5 "Blown Away!"
      I have been a long time customer to KARNATAKA BANK. As I'm holding salary account with them for more than 9 years they offered me a Platinum Credit card and I accepted it and now I have been using their credit card for nearly 5 years. I pay Rs. 2441 as an annual fees.
      Was this review helpful? 3
      , bangalore
      Reviewed on Oct 05, 2017
    • Karnataka Bank Credit Card
      "Credit card"
      0.5 1.0/5 "Really Bad"
      I had also approached Karnataka bank for the credit card, i had placed a request for the same online, I did not receive a single call too from them probably i would not have attended their call. Their offers were quite similar to other banks..
      Was this review helpful? 1
      , chennai
      Reviewed on Sep 23, 2017
    • Karnataka Bank Credit Card
      "Satisfactory"
      0.5 5.0/5 "Blown Away!"
      I have taken a credit card with Karnataka Bank. The services are good from them. It is a life time free card. The rate of interest is high. They offer a lot of reward points that can be redeemed on fuel at the Indian oil fuel outlets. The response is good as well.
      Was this review helpful? 2
      , bangalore
      Reviewed on Mar 18, 2016
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