As more and more Indians are flying for holidays abroad, more and more global airlines are trying to tap into the loyalty of these globetrotting individuals. One such attempt by Singapore Airlines is the co-brand credit card with SBI Cards, the KrisFlyer SBI credit card. The KrisFlyer SBI credit card comes in 2 variants, a base variant and the Apex (premium) variant. Is the KrisFlyer SBI credit card worthy of being placed in your wallet? How does it compare with other credit cards that have KrisFlyer as a transfer partner, read to find out.
KrisFlyer SBI Credit Cards
As mentioned earlier the KrisFlyer SBI credit card comes in 2 variants, the base version of the KrisFlyer SBI card and the premium version, the KrisFlyer SBI Apex card. Further, these 2 credit cards are available on 2 platforms, Mastercard and Amex. The features and benefits on both the Mastercard and Amex platforms are the same.
KrisFlyer SBI Card
Snapshot of KrisFlyer SBI Credit Card
Fees:
- Annual and joining fees of 2999+GST i.e. ~INR3540
Reward and Benefits:
- Joining/Welcome Benefits: 3000 KrisFlyer miles on payment of annual fees and completing the first transaction within 60 days
- Milestone Benefits:
- 3000 KrisFlyer miles on spending 3 lakhs
- Tier upgrade to KrisFlyer Elite Silver membership on Spends of 2.5 lakhs on Singapore Airlines
- Reward Points
- 2 KrisFlyer miles for every 200 spent. A 1% reward rate.
- Accelerated reward points:
- 5 KrisFlyer miles for every 200 spent on Singapore Airlines group i.e. Singapore Airlines, Scoot, Pelago, Kris+ & KrisShop website
- 5 KrisFlyer miles per Rs 200 on international spends
- Exclusions: Spends on insurance, utilities, rental spends, wallet load, fuel, jewellery and government spending. (Note: The detailed T&Cs are not available yet. Jewellery and Government spending are not explicitly mentioned, but going by the reward structure of other SBI Cards, assuming that these will also be excluded.)
- Lounge Access
- 4 domestic lounge access per year (max 1 per quarter)
- 4 complimentary international lounge visits per year (max 1 per quarter) via Priority Pass. Priority Pass is valid for 2 years.
KrisFlyer SBI Apex Card
Snapshot of KrisFlyer SBI Apex Credit Card
Fees:
- Annual and joining fees of 9999+GST i.e. ~INR11,800
Reward and Benefits:
- Joining/Welcome Benefits: 10,000 KrisFlyer miles on payment of annual fees and completing the first transaction within 60 days
- Milestone Benefits:
- 10,000 KrisFlyer miles on spending 5 lakhs
- Tier upgrade to KrisFlyer Elite Gold membership on Spends of 7.5 lakhs on Singapore Airlines
- 3,000 additional bonus KrisFlyer miles on cumulative spend on 10 lakhs
- Reward Points
- 6 KrisFlyer miles for every 200 spent. A 3% reward rate.
- Accelerated reward points:
- 10 KrisFlyer miles for every 200 spent on Singapore Airlines group i.e. Singapore Airlines, Scoot, Pelago, Kris+ & KrisShop website
- 8 KrisFlyer miles per Rs 200 on international spends
- Exclusions: Spends on insurance, utilities, rental spends, wallet load, fuel, jewellery and government spending. (Note: The detailed T&Cs are not available yet. Jewellery and Government spending are not explicitly mentioned, but going by the reward structure of other SBI Cards, assuming that these will also be excluded.)
- Lounge Access
- 8 domestic lounge access per year (max 2 per quarter)
- 8 complimentary international lounge visits per year (max 2 per quarter) via Priority Pass. Priority Pass is valid for 2 years.
Thoughts on the KrisFlyer SBI Credit Cards
The base version of the KrisFlyer SBI card is a bit underwhelming; thus the below positives and negatives are more from the KrisFlyer SBI Apex credit card point of view. Do note that you need to register for a KrisFlyer membership before applying for the card.
Positives of the KrisFlyer SBI Credit cards
The KrisFlyer SBI Apex card reward is decent at 3%
The reward rate on the KrisFlyer SBI Apex credit card is decent. You get 3% miles on your spending done on this card. However, the drawback is the exclusion list that takes out many regular spending categories.
Accelerated reward points on Singapore Airline Group and international spends
The KrisFlyer SBI Apex credit card gives decent accelerated reward points on spending on the Singapore Airlines ecosystem. Roughly, the value of 1KrisFlyer mile is ~60p for economy redemptions. This translates into a 3% reward rate, not bad at all. Redemption value will be better for higher travel class.
Further, you earn these accelerated reward points for not only booking Singapore Airlines flights but also booking Scoot tickets directly and shopping on Pelago, Kris+ and the KrisShop website. Thus, one can get accelerated reward points by shopping too.
KrisFlyer Gold Status on the KrisFlyer SBI Apex variant
You can get the KrisFlyer Gold status on the Apex variant by spending 7.5 lakhs on Singapore Airlines in a year. Spending 7.5 lakhs just on Singapore Airlines is a tough task for many.
The KrisFlyer Gold status is quite good. The detailed benefits are listed here. To highlight a few, you get access to KrisFlyer lounges worldwide, priority boarding, additional baggage allowance and also the Star Alliance Gold status.
Accelerated miles even on Pelago and Kris+
You get accelerated KrisFlyer miles even on purchases made on the Pelago website and Kris+ app. The Pelago is like Klook where you can book various travel activities and services across many South-East Asian countries. I compared the prices of Pelago and Klook for a few activities in Thailand. The prices are very close to each other. In one case Pelago was more expensive than Klook and in another, Pelago was cheaper.
If you book on Pelago using the KrisFlyer SBI cards you get double-dip benefits. For purchases done on Pelago, you will earn KrisFlyer miles, further, for using the KrisFlyer SBI credit card you will earn accelerated miles also.
Similarly, Kris+ app is a lifestyle app from Singapore Airlines you can book discounted services across many countries including India. The Kris+ app also lists multiple outlets in India, mostly fine dining restaurants where one can get reasonable discounts. Currently, the Kris+ app is offering a 3-month free Eazy Diner membership.
Negatives of the KrisFlyer SBI Credit Card
Underwhelming reward rate on the base variant
The KrisFlyer SBI base variant credit card has a very underwhelming reward rate. At best, it gives a 2.5% reward rate for forex and Singapore Airlines group spending. Outside of that, you get only a 1% reward rate. Do note that the 1% reward rate is the number of miles earned, not the monetary value. The money value can be even lower depending on the redemption value.
If airmiles are the only criterion, there are better credit cards
If earning airmiles is the only criterion for you, then there are many better credit cards than the KrisFlyer SBI credit card. I have discussed this in more detail in the comparison section below.
T&Cs are not in place yet
SBI Card has not yet put in place the detailed T&Cs on their website. The link is broken. My concern is there could be some hidden T&Cs that are not known yet. So, I suggest that you apply for the card only once the detailed T&Cs are out.
Comparison with other airmiles credit cards
Below is the snapshot of reward rates on a few popular credit cards that have KrisFlyer as a transfer partners. The table below considers the transfer ratio for the respective credit cards, i.e. 1:1 for SBI KrisFlyer, 2x for Axis Atlas and 1:2 for Amex cards to arrive at the reward rates.
From the table, it’s clear that Axis Atlas(Apply Now) gives more miles on spending than the KrisFlyer SBI cards. Here, I have not considered the accelerated reward rate for any card. Thus, if you spend a lot on Singapore Airlines then the KrisFlyer credit card is a no-brainer for you. But, for normal spending, Axis Atlas(Apply Now) gives better value at a lower fee.
Further, if you have annual spending of 5 lakhs, then Axis Atlas or the Amex Plat Travel(Apply Now) gives the same number of KrisFlyer miles as the KrisFlyer SBI Apex credit card. Both the Axis Atlas and Amex Plat Travel have lower fees and offer multiple transfer partners. Also, if you have 2 Amex MRCC(Apply Now) credit cards; one for you and one for your spouse, both primary and not add-ons. Then you can earn 30k KrisFlyer miles on a total spend of 5lk between the 2 Amex MRCCs(Apply Now). Even better than the Axis Atlas(Apply Now) and Amex Plat Travel(Apply Now).
Similarly, for annual spending of 10 lakhs KrisFlyer SBI Apex credit card will give 43k miles and Axis Atlas gives 50k KrisFlyer miles. Further, if you have 2 Amex Plat Travel credit cards, you will earn 50k KrisFlyer miles. Not to mention that the 2 Amex Plat Travel(Apply Now) cards will also give you 20k Taj vouchers for 10 lakhs spent.
Conclusion
The KrisFlyer SBI credit cards are good if you happen to have decent spending on the Singapore Airlines group sites. You will also get double dip benefits on Pelago and the Kris+ app by using these credit cards. However, if earning airmiles on regular spending is the primary criterion then Axis Atlas, Amex MRCC and Amex Plat Travel will be more rewarding cards for you.
Are you planning to apply for the KrisFlyer SBI Credit card? Do share your views and opinion about this card in the comments below.
The article was published/updated on 2nd October 2024
Disclaimer
In the interest of full disclosure, Credit Cardz may earn a referral bonus for anyone that’s approved through some of the links in this post. However, opinions and views expressed here are of the author's alone and not those of the bank, credit card issuer, or anyone else and have not been reviewed, approved or otherwise endorsed by any of these entities.
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