Central is a chain of fashion and lifestyle departmental stores from Future Group. Central and SBI Card launched a co-branded credit card in 2017. The card offers good benefits for purchases at Central stores and decent rewards for other spends as well. Here is a review of the Central SBI Select+ credit card.
Fees and Charges
The welcome benefit is equivalent to the joining fees excluding GST. There is no renewal fee waiver but we get reward points if we have spent Rs 1.25 Lakh in previous membership year.
- Joining/Renewal Fee: Rs 2999 plus taxes
- Welcome Benefit: Rs 3000 Central Gift Voucher and three Rs 500 discount coupons (min purchase Rs 2000)
- Renewal Benefit: 12000 RP on spending Rs 1.25L in a membership year ~Rs 3000 Value
Central SBI Select+ credit card earns ‘Select Points’ for spends. Each point equals 25 paise. Redemption can be done at Central stores to pay for shopping.
- Central Store Spends: 5% Return (20 RP/Rs 100)
- Dining and Movies Spends: 2.5% Return (10 RP/Rs 100)
- Other Retail Spends (excluding Fuel): 0.5% Return (2RP/Rs 100)
This is one of the confusing things about this card. The milestone rewards value reduces as we spend more on this card. Strange!
- 6000 RP for Rs 1.5 Lakh spend ~1% return
- 10000 RP for Rs 3 Lakhs spend ~0.83% return
- 16000 RP for Rs 6 Lakhs spend ~0.67% return
The Central SBI Select+ is another regular co-branded credit card. While co-branded cards are good in some cases, this one does not offer much. The 5% return for Central spends is okay at best but definitely not worth paying a Rs 3K fees for.