SBI Prime Credit Card vs IDFC First Select Credit Card: A Detailed Comparison

SBI Card as well as the IDFC First Bank are among the top card issuers in the country. SBI Card is undoubtedly the most trusted one, but IDFC Bank has also become a popular card issuer as it offers some great cards with zero annual fees. When it comes to choosing a premium credit card, individuals often confuse between these two card issuers and their offerings. The Prime Credit Card by SBI and IDFC First Bank’s Select Credit Card are two of the most popular cards by the two banks respectively. If you are also thinking of getting one of these two cards, this article is going to help you out in making the right decision.

The IDFC First Select Card comes with a zero annual fee, which is definitely a plus point for this card, but getting approved for it might also be equally tough. The Prime Credit Card comes with a high annual fee, but the fee can be waived by achieving the required annual spend. Talking about their reward rates and other benefits, both cards offer great reward rates. However, the Prime Credit Card seems to be a better option for those who travel internationally very often as it offers free international lounge access as well. Let us now discuss all the benefits and features of both these cards, so that we can compare them wisely:

SBI Prime Credit Card

IT is among the top offerings by the bank. It comes with an annual fee of Rs. 2,999 and welcomes its customers with gift vouchers worth up to Rs. 3,000. You can earn up to 10 Reward Points on every spend of Rs. 100 and these points are redeemable against a number of options including different products & vouchers. Talking about its travel privileges, you get complimentary memberships to different airline & hotel programs. Other benefits of this card include free domestic and international lounge access, and air accident cover, and many more. The following are all its features and benefits in detail:

  • You get a gift voucher worth Rs. 3,000 from any of the popular brands including Aditya Birla fashion, Yatra, Shoppers Stop, Pantaloons, etc.
  • The card offers 2 Reward Points on every retail spend of Rs. 100 and 5x Rewards on dining, groceries, movies, and departmental stores.
  • The earned Reward Points can be redeemed against various options via internet banking at a rate of 1 RP = Re. 0.25.
  • The SBI Prime cardholders can avail of 25% off on dining across various participating restaurants.
  • You get complimentary Club Vistara Silver and Trident Privilege Red Tier membership with this card.
  • The card offers 8 complimentary domestic and 4 international lounge access every year.
  • You get air accident insurance cover worth Rs. 50 lakhs and a credit liability cover worth Rs. 1 lakh.
  • The cardholders also get a 1% fuel surcharge waiver on all fuel spends, capped at Rs. 250.

IDFC First Select Credit Card

IDFC First Bank offers most of its credit cards with no annual fee. The Select Credit Card by IDFC is also a lifetime-free yet premium credit card. It comes with a really good reward rate of up to 25 Reward Points on every spend of Rs. 125, where the monetary value of every Reward Point is equal to Re. 0.25. Apart from this, you get complimentary access to the domestic airport lounges as well as railway lounges, which make your travel experiences extra luxurious. All the features and benefits of the IDFC First selct card  are given below in detail:

  • You get a gift voucher worth Rs. 500 on spending Rs. 15,000 or more within the first 90 days.
  • 3 Reward Points for every Rs. 125 spent offline and 6 Reward Points on online spends.
  • After spending Rs. 25,000 in a month, you get 10 Reward Points for every spend of Rs. 125.
  • The reward points are redeemable against various options available at the Povshine Rewards portal at a redemption rate of 1 RP = Re. 0.25.
  • You get 4 complimentary domestic airport lounges every quarter, i.e. 16 per year.
  • The card also offers you 4 free railway lounge access every quarter.
  • You can avail of a Buy 1 Get 1 free offer on movie ticket bookings via BookMyShow (up to Rs. 250 off on a second ticket).
  • The Select Credit Card also provides you with a decent discount on dining at various participating restaurants.
  • The cardholders get an air accident cover worth Rs. 1 Crore, personal accident cover worth Rs. 5 lakhs, and several other travel-related insurance covers.
  • The card comes with a low foreign currency markup fee of 1.99% only.
  • You get a 1% fuel surcharge waiver on all fuel purchases, capped at Rs. 300 per month.

Quick Comparison

After going through all the features of the above two cards, you might already have come to a conclusion. If not, you can refer to the following table to make the right decision:

Comparison FactorSBI Prime Credit CardIDFC First Select Credit Card
Annual FeeRs. 2,999Nil
Rewards Rate2 RPs for every Rs. 100 spent on retail purchases.10 RPs for every spend of Rs. 100 on groceries, dining, movie, and departmental stores.3  Reward Points on every offline spend of Rs. 125.6 RPs on every online spend of Rs. 125.10 RPs on every Rs. 125 spent after achieving a monthly spend of Rs. 25,000.
Reward RedemptionThe earned Reward Points are redeemable against a number of options at a redemption rate of 1 RP = Re. 0.251 RP = Re. 0.25 for redemption against various products and other options.
Travel Benefits8 complimentary domestic and 4 international lounge visits every year.Free Trident Privilege Red Tier membership.Complimentary Club Vistara Silver membership.4 free domestic airport lounge access and 4 railway lounge access every year.A low forex markup fee of 1.99% only.
Insurance Cover Against Personal AccidentYou get an air accident cover worth Rs. 50 lakhsYou get an air accident cover worth Rs. 1 Crore.A personal non-air accident cover worth Rs. 5 lakhs.
Spend-Based WaiverThe annual fee is waived on spending Rs. 3 lakhs or more in the previous year.NA

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