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Is it Worth Negotiating for Prime LTF with SBI Wealth Family ?

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joell

joell

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I'm a student and new to SBI. My family qualifies for Wealth (₹50 lakh+). My RM has agreed to upgrade our account, and I'm opening a new account under the same family umbrella. I'm interested in getting an SBI CC, and while the Prime LTF would be ideal (Elite would be hard to get), I'd prefer not to pay the annual fee. If a fee waiver isn't possible, I'd consider the Simpliclick or Cashback. Given that I'm new to SBI and it's my "family's TRV", is it worth trying to negotiate for the Prime LTF card? If so, how can I negotiate for it?

SBI Wealth advertises Aurum with Wealth accounts, it seems like requesting a lower-tier card like the Prime shouldn't be too difficult.
 
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I don't think they will do an LTF even if it's wealth account. SBI Card and SBI both are separate entities unlike other bank issuers. Besides, it's very rare for them to give LTF cards, except for may be entry level cards. Even if possible, it will mostly depend on RM, mine couldn't even expedite home loan approval.
 
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ankit_tf said:
I don't think they will do an LTF even if it's wealth account. SBI Card and SBI both are separate entities unlike other bank issuers. Besides, it's very rare for them to give LTF cards, except for may be entry level cards. Even if possible, it will mostly depend on RM, mine couldn't even expedite home loan approval.
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That's why i asked for lower-level cards. They gave me a brochure for Aurum with Wealth and I asked them about the separate company and RM said its true and that they can try to negotiate on our behalf since they also have to hit their quarterly targets.
 
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IMO, prime looks much better than their other cards for general spends, worth it if LTF. I only avoided it because it does not give renewal benefits, else I could have taken it as paid as well.
 
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(my RM told me the current requirement is 1Cr for Wealth upgrades, IDK how your manager is providing this at 50L)
however, Wealth gives Elite FYF. Take it, and then you can close before the second year hits.
 
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rrsji said:
(my RM told me the current requirement is 1Cr for Wealth upgrades, IDK how your manager is providing this at 50L)
however, Wealth gives Elite FYF. Take it, and then you can close before the second year hits.
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there's something called target 😛 I have wealth account with 20k AMB
 
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SBI very very rarely issues LTF cards. The tried & tested way to get a LTF SBI card is to use the card for couple of years, make significant spends on it & then request them to convert it to LTF. The other option is to request fee waiver every year.

So with this info in mind, I have only seen SBI converting Elite or Prime to LTF as an exception & not a rule. So, get them if you are confident to hit the milestones & fee waiver.
It's much more plausible to convert your Simplyclick or Cashback to LTF.
 
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SBI Card provides LTF card only to their employees. That too 5 card. SImply Save, SImply Click, Pulse, Elite and Prime. No one else get it LTF through SBI Bank. But as you say they may negotiate with SBI Cards and first issue it as Paid and then later on convert it to LTF. Chances are low.
 
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joell said:
Their target deadlines are at the end of the qtr. So I've 1 month to negotiate. They gave me the forms but I haven't submitted them yet. How do I press for LTF Prime?
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If you/your family have good terms with RM, simply ask them for LTF citing the NRV you have maintained across accounts. may be bait them with future dealings u might do (FD investments etc, don't go overboard though, they will followup xD ), or tell them at this level of NRV, other banks can do LTF easily, even the higer cards, and that you may start exploring options, if they can't even try ;-)

If they try but couldn't get approval, ask them the best card he could get approval for as LTF
 
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