SBI KrisFlyer Apex Credit Card Review

Editor’s note: This is a recurring post, regularly updated with new information and offers. Last Updated 2nd October 2024.

The SBI KrisFlyer APEX Credit Card is a co-branded travel card launched by SBI Card in partnership with Singapore Airlines’ KrisFlyer program. SBI has launched two cards simultaneously and here I am reviewing the pricier of the two. I have also reviewed the base version of this card here.

Charges and Welcome Benefits

• 10,000 KrisFlyer Miles will be credited on payment of annual fees and doing a single transaction within 60 days of card issuance.

Just like the SBI Miles card series, there is no incentive for renewal against the annual fee and no renewal fee waiver makes no sense since why would someone renew the card and pay the fee against no benefits?

Reward Points Accrual

*Except for Cash withdrawals, Balance Transfers, Flexipay, Encash, E-wallet uploads, Cashback transactions and spends on Rental, Fuel, Utility Bills and Govt transactions.

• KrisFlyer miles are valid only for 2 years from the date of accumulation
• The KrisFlyer miles will be automatically transferred to your KrisFlyer account on the statement date
• Singapore Airlines group consists of Singapore Airlines, Scoot, Pelago, Kris+ & KrisShop website

Milestone Benefits

• Get an additional 10,000 KrisFlyer miles on annual spends of ₹5L as Milestone Rewards
• Tier upgrade to KrisFlyer Elite Gold membership on spending ₹7.5L on Singapore Airlines
• 3,000 additional bonus KrisFlyer miles on cumulative spend on ₹10L

TechnoFino Maximum

Assuming you spend ₹10L on the included categories then in the first year of card accrual you will earn 53,000 KrisFlyer miles. Also earning these miles won’t be completely free since SBI will charge your card against the miles earned on spends done during the festive sales on various platforms like Amazon and Flipkart.

Now the value of a KrisFlyer mile is inherently personal and depends on your travel patterns and preferences. But conservatively it can be valued around ₹1 per mile if you travel in economy but may shoot up substantially if you like to travel in premium cabins. Hence this translates to a 5.3% reward rate in the first year and 4.3% in the next year.

Other Benefits

Airport Lounge Access

Access Via – Credit Card
Complimentary Domestic Limit – 8 Visits/Calendar year within India only for primary cardholder (Maximum 2/Qtr)
Network – MasterCard/AMEX

Access Via – Priority Pass
Complimentary International Limit – 8 Visits/Calendar year only for primary cardholder (Maximum 2/Qtr)

• Priority Pass membership is valid only for the first 2 years which is really not done for a card worth ₹9999 per year that too without any renewal benefits.
• If you exceed the 8 Complimentary visits, you will be charged US $27 + GST per visit. 

Fuel Surcharge Waiver

1% fuel surcharge waiver max up to ₹3000 per month.

Forex Markup Charges

• FCY Markup Fee: 3.50%+GST
• Reward Rate: 4%
• Net: –0.20% (loss)

TechnoFino Recommends

SBI KrisFlyer Apex Credit Card is only for SQ loyalists just like how cobranded cards should be since the reward rate on other spends is quite mediocre. If you still like to rake up miles then this card is recommended for the first year since the reward rate drops significantly in the second year. Also KrisFlyer Gold won’t be easy to clinch if you don’t fly premium SQ cabins on revenue regularly. If you aren’t specific with Singapore Airlines, there are much better cards like Axis Atlas, AMEX Platinum Travel, HDFC Infinia and HDFC Diners Club Black.

What are your thoughts about this card? Feel free to share in the comments below.

Bhavye Goel

Chief Editor, TechnoFino.
Personal finance nerd! Physics enthusiast and trainer. When not into Physics, he is minting points and hunting for the next best credit card for himself.