Over the past few decades, credit cards have become increasingly popular. As the popularity of the options has increased, the choices available to users have grown, each with its own advantages and disadvantages. SBI and ICICI are two such options. This article delves into the intricacies of distinguishing between the options, especially focusing on SBI Vs ICICI credit cards.
SBI Credit Cards
The State Bank of India issues SBI credit cards. The minimum eligibility required to get these cards is that the user must be above 18 years, with a minimum income of Rs. 15000. Various cards offered by this bank are:
- SBI SimplySAVE Credit Card: This card caters to the daily needs of the user, like buying groceries, dining, movies, etc. along with giving up to 10x reward points. The annual fee charged is approximately Rs. 499.
- SBI IRCTC RuPay Credit Card: This card is ideal for people who frequently travel by trains. Discount is up to 10% on every booking that is made through the IRCTC. A nominal annual fee of Rs. 500 is charged.
- SBI Card PRIME: As the name suggests, this card is for people with a prime lifestyle. It offers membership of the club Vistara, benefits like lounge access, etc. The annual fee of Rs. 2999 is charged.
- BPCL SBI Credit Card: This card is co-branded with Bharat Petroleum and is beneficial for users with fuel-specific requirements. It offers a 4.25% value back on spending on fuels from BPCL pumps. The annual fee charged is up to Rs. 499
- Air India SBI Signature Card: This card is suitable for people frequently flying with Air India as it gives reward points up to 30 per Rs. 100 spent on tickets. The annual fee of Rs. 4999 is charged.
ICICI Credit Cards
The ICICI Bank issues ICICI (Industrial Credit and Investment Corporation of India) credit cards. The minimum eligible age to hold these cards is 18 years, and the minimum required bar for income is set at Rs. 20000. Various cards offered by this bank are:
- ICICI Platinum Chip Card Visa: This card is appropriate for students or someone new to credit cards. This is considered an entry-level card and has no annual fee with basic rewards offered.
- ICICI HPCL Super Saver Credit Card: This card is co-branded with HPCL and is suitable for users who have higher fuel consumption, as it offers 5% cashback on fuel, utility, and departmental store spends. The annual fee charged is around Rs. 500.
- ICICI Manchester United Credit Card: It is co-branded with the Manchester United Football Club. This card is a perfect fit for football enthusiasts as it offers exclusive match tickets and merchandise. The annual fee is Rs. 499.
- ICICI Bank Emerald Credit Card: This card falls in the ultra-premium category. It offers unlimited lounge access, complimentary spa sessions, golf, etc. The annual fee is on the pricier side, i.e., Rs. 12000. However, there is an option of choosing a monthly plan of Rs. 1000 as well.
- ICICI Coral Contactless Credit Card (AmEx/MasterCard/Visa): This card is suitable for people who are more into travel and entertainment. It offers benefits like lounge access, discount on movie tickets, and many more at an annual charge of Rs. 500.
Also read: Top FAQs About CIBIL and Credit Scores: Everything You Need to Know
SBI Vs ICICI Credit Cards: Comparison
| Feature | SBI Credit Cards | ICICI Credit Cards |
| Issuing Bank | SBI Card (State Bank of India subsidiary) | ICICI Bank Ltd. |
| Eligibility | Age 21–60, Min. ₹15,000/month income | Age 21–60, Min. income ₹20,000/month |
| Types of Cards | Cashback, Lifestyle, Travel, Shopping, Fuel, Premium | Cashback, Lifestyle, Travel, Fuel, Amazon/Co-branded |
| Popular Cards | SBI Cashback, SBI Card ELITE | Amazon Pay ICICI, Coral, Rubyx, Sapphiro |
| Annual Fee Range | ₹0 – ₹4,999 (reimbursed on spend) | ₹0 – ₹3,500 (waived on spend) |
| Reward System | SBI Rewardz: Per ₹ spent (varies by card) | PAYBACK (for selected cards), direct cashback for Amazon Pay |
| Welcome Offers | Vouchers, cashback, and bonus reward points | Amazon cashback, vouchers, and complimentary lounge access |
| Fuel Surcharge Waiver | 1% on ₹500–₹3,000 transactions | 1% on most cards (capped monthly) |
| Travel Benefits | Airport lounge entry, Air Vistara co-branded cards | Lounge access, IRCTC, MakeMyTrip co-branded cards |
| Customer Support | Dedicated helpline + online assistance | 24/7 customer care + iMobile support |
| Security Features | Card lock/unlock, setting of transaction limit, and OTP alerts | Card block/unblock, transaction controls via app |
Bottomline
There is a clear difference between the credit cards offered by both banks in terms of rewards, types of cards, security features, benefits, etc. The table above gives clearer insights into differences in features. Choosing credit cards is subjective according to the needs of the individual. There is no one-size-fits-all solution in the case of credit cards.
Written by Tanya Kumari
