SBI Pulse Credit Card is made as a lifestyle-focused credit card offering:
A welcome smartwatch (Noise ColorFit Watch)
8 domestic airport lounge visits per year
Accelerated rewards on pharmacy and dining spends
At first glance, the smartwatch offer attracts most applicants. However, the real long-term value of this card does not lie in the gadget; it lies in the lounge access and 2.5% reward categories.
This review breaks down the joining benefit, renewal math, reward structure, hidden fees, and who should (and should not) apply
Key Features of SBI Pulse Credit Card Review
- Joining Fee: ₹1,499 + GST
- Renewal Fee: ₹1,499 + GST
- Fee Waiver: Spend ₹2,00,000 annually
- Lounge Access: 8 domestic visits per year (2 per quarter)
- Reward Rate (Base): 2 points per ₹100 (0.5%)
- Accelerated Categories: Pharmacy, Dining, Movies (10 points per ₹100 ≈ 2.5%)
- Welcome Benefit: Noise smartwatch (voucher-based redemption)
The Welcome Smartwatch: What Is It Really Worth?
SBI advertises the smartwatch at an MRP of around ₹4,999. However, market pricing is typically lower.
In most major e-commerce sales, the Noise smartwatch included with this card sells between ₹1,999 and ₹2,499. Let’s calculate realistically.
₹1,499 + 18% GST = approx. ₹1,769
Market value of watch: approx. ₹2,000–₹2,500
You are not receiving a ₹5,000 “gift.”
You are effectively purchasing a discounted smartwatch along with a credit card. If you were already planning to buy a budget smartwatch, the offer makes sense. If you do not need one, the value drops significantly.
Renewal Fee: The Most Important Decision Factor
The second-year fee is where many users make a mistake. The smartwatch is a one-time welcome benefit. In year two, you only pay the renewal fee. The fee waiver condition is:
Spend ₹2,00,000 in a year. That equals roughly ₹16,700 per month. Before applying, ask yourself:
Before applying, ask yourself:
If you already use cards like SBI Cashback or HDFC Millennia for most spending, you may struggle to hit the ₹2 lakh target.
If you miss it, you pay ₹1,769 again in year two — without any welcome gift.
This card works best when it is used actively, not kept as a secondary backup.
Lounge Access: The Real Strength of SBI Pulse
- Lounge Access: The Real Strength of SBI Pulse
- SBI Pulse offers:
- 8 domestic lounge visits per year
- Maximum 2 per quarter
In today’s market, many entry-level cards offer no lounge access or impose high quarterly spending requirements.
If you travel even 2–3 times per year, lounge access alone can justify the fee.
Example:
Two round trips = 4 visits
Average lounge value per visit = ₹800–₹1,200
Even conservatively, you may consume ₹3,000–₹4,000 worth of lounge value annually.
For frequent domestic flyers who do not qualify for premium cards, this is strong value.
Reward Points: Real Return Calculation
Now, let’s examine the reward structure clearly.
Base Reward Rate
2 points per ₹100
1 reward point = ₹0.25
So
2 points = ₹0.50 per ₹100
Effective return = 0.5%
This is average. Not exciting.
Accelerated Categories (10 Points per ₹100)
Eligible categories:
- Pharmacy / Chemist
- Dining
- Movies
Calculation:
10 points = ₹2.50 per ₹100
Effective return = 2.5%
This is where the card becomes useful.
Most credit cards offer 0.5% or 1% on medical expenses.
If your monthly pharmacy spending is ₹5,000:
₹5,000 × 2.5% = ₹125 per month
Annual return = ₹1,500
For households with ongoing medical expenses, this category alone can offset most of the annual fee.
5. Hidden Charges & Important Fine Print
Before applying, understand these costs.
Finance Charges
3.5% per month (approx. 42% annually)
Always pay your full bill. Never pay only the minimum due.
Forex Markup
3.5% + GST
Not suitable for international travel or foreign currency transactions.
Reward Redemption Fee
₹99 + GST per redemption
Redeem only when you accumulate 2,000+ points to minimize impact.
Rent Payment Charges
Additional charges apply when used via rent platforms. Not recommended.
SBI Pulse vs Other SBI Credit Cards
SBI Pulse vs SBI Cashback
- Pulse: 2.5% on pharmacy/dining + lounge access
- Cashback: 5% on most online spending
If your primary expenses are online, SBI Cashback is stronger.
If you value lounge access and pharmacy rewards, Pulse offers a different advantage.
SBI Pulse vs SBI SimplySAVE
- SimplySAVE: Better for grocery and offline retail (~1.7%)
- Pulse: Better for pharmacy and dining (2.5%) + lounge access
Pulse is more travel-oriented
Who Should Apply?
Apply if:
- You travel domestically multiple times per year
- You spend significantly on pharmacy/medical expenses
- You can comfortably hit ₹2 lakh annual spending
- You want lounge access under ₹2,000 annual fee
Avoid if:
- You want maximum cashback
- You rarely travel
- You mostly shop online
- You do not want to manage annual fee waivers
Is SBI Pulse Worth It in 2026?
SBI Pulse is not a high-return cashback card.
It is a hybrid lifestyle card that combines:
- Entry-level travel perks
- Pharmacy rewards
- A welcome gadget
If lounge access and pharmacy rewards align with your lifestyle, it can justify its fee.
If your goal is pure financial optimization, SBI Cashback offers a higher return on spending.
Frequently Asked Questions
Is the SBI Pulse Credit Card lifetime free?
No. The annual fee is ₹1,499 + GST. It is waived only if you spend ₹2,00,000 annually.
How many lounge visits does SBI Pulse offer?
8 domestic visits per year, limited to 2 per quarter.
What is the reward rate of SBI Pulse?
0.5% base rate. 2.5% on pharmacy, dining, and movie categories.
Is the smartwatch really free?
No. The joining fee effectively covers the cost of the smartwatch.
Is SBI Pulse good for online shopping?
No. The base reward rate is low compared to dedicated cashback cards.
Verdict
SBI Pulse is best suited for:
Travelers who want affordable lounge access
Families with significant pharmacy spending. Users are comfortable managing annual fee waiver targets. It is not designed for aggressive cashback optimization. If used strategically, it delivers solid lifestyle value. If used casually, it becomes an average mid-tier card.