SBI Visa® Platinum Card
- Annual fee
- None
- Recommended credit
- Excellent / Good
- Card network
- Visa
- Intro purchase APR
- 0% for the first 18 months
At a glance
The SBI Visa® Platinum Card is a balance transfer credit card that lacks the fireworks of a rewards card but makes up for it with a typically low APR and an extensive interest-free introductory period on balance transfers and purchases.
Our review of the SBI Visa® Platinum Card
The SBI Visa® Platinum is the basic, low APR credit card offering from the State Bank of India (California). This comprehensive review explores the card’s features, benefits, and drawbacks to help you decide if it’s the right choice for you.
Extensive Introductory Interest-Free Period
One of the key selling points of the SBI Platinum card is its extended introductory interest-free periods on both balance transfers and purchases. Enjoy 0% intro APR on both transaction types for the first 20 months after opening an account. This competitive offer puts it on par with other balance transfer options in the market.
Competitive Low APR
After the introductory period ends, the SBI Visa® Platinum maintains a low APR, depending on the applicant’s creditworthiness. With rates as low as below 14% for those with excellent credit scores, this card offers a great option for carrying a balance or paying down existing balances over time.
Ideal for Carrying a Balance
The combination of a competitive APR and 0% interest on balance transfers and purchases for the first 20 months makes the SBI Visa Platinum ideal for those looking to pay down existing credit card balances or finance significant purchases. The extended interest-free period provides ample time to manage your finances without incurring additional interest costs.
Other Card Features
In addition to the introductory interest-free period, the SBI Visa® Platinum Card offers essential Visa benefits and protections, including Zero Fraud Liability and Auto Rental Collision Damage Waiver. While the card charges a foreign transaction fee of up to 3% and a balance transfer fee of 3%, these costs can be managed with careful planning.
About State Bank of India (California)
State Bank of India (California) is a division of the largest commercial bank in India, offering reliable banking services in California. With seven branches throughout the state, SBI provides a global network of over 22,000 branches, making it a convenient banking partner for Indian nationals living or working in California.
Should You Apply for the SBI Visa® Platinum Card?
While the SBI Visa® Platinum Card may not offer rewards or bonuses, its competitive APR and extended interest-free period make it a strong contender in the balance transfer credit card market. With the global support of State Bank of India, cardholders can expect unparalleled service and convenience.
Overall, the SBI Visa® Platinum is a solid choice for Californians looking for a no-nonsense, full-throttle balance transfer credit card. Consider this card if you prioritize low APR and extended interest-free periods for managing your finances effectively.
Card features
Benefits as listed on the original card page. They can change; confirm details with the issuer.
- No annual fee
- 0% introductory APR on purchases and balance transfers
- Pay down existing balances with an everyday low rate
- Visa benefits and protections
Who this card may suit
- You're an Indian national and want a credit card that works both in California and abroad
- You have an existing credit card balance to pay down – and would like to do so at a lower rate
- You plan to finance a major purchase soon
- You don’t want to pay an annual fee for a low APR card
Rates, fees and terms
| Annual Fee | None |
|---|---|
| Intro Purchase APR | 0% for the first 18 months |
| Regular Purchase APR | 19.24% to 29.24% variable based on creditworthiness and the Prime Rate |
| Intro Balance Transfer APR | 0% for the first 18 months |
| Balance Transfer APR | 19.24% to 29.24% variable based on creditworthiness and the Prime Rate |
| Balance Transfer Transaction Fee | Either $5 or 3% of the amount of each transfer, whichever is greater |
| Cash Advance APR | 29.99% variable based on the Prime Rate |
| Cash Advance Transaction Fee | Either $10 or 5% of the amount of each advance, whichever is greater |
| Foreign Transaction Fee | Up to 3% of the transaction amount in U.S. dollars |
| Late Payment Penalty Fee | Up to $41 |
| Return Payment Penalty Fee | Up to $41 |
Confirm before you apply: rates, fees and offers change often. The figures above are the ones listed on the original card page, not a current quote from the issuer. APRs are typically variable, and the rate you receive depends on your creditworthiness. Recommended credit: Excellent Credit Good Credit.
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SBI Visa® Platinum Card
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