The SBI Elite Credit Card is facing a second-order devaluation because its lounge access is being reduced to just 2 Priority Pass visits per quarter from June 2026, while the annual fee remains ₹4,999 and the ₹5,000 milestone benefit on ₹10 lakh annual spend stays intact. The card is also losing its Trident Privilege membership benefit. This combination reduces the practical travel value of the card even though the fee is unchanged.
For many cardholders, the lounge benefit is the main reason to hold SBI Elite. Cutting the allowance from 6 visits per quarter to 2 visits per quarter means the annual usable lounge count falls sharply, and the discontinued Trident Privilege benefit removes another premium layer. The milestone benefit of ₹5,000 on ₹10 lakh spend still exists, but it now has to carry more of the card’s value on its own. That is a tougher proposition for existing cardholders who used to rely on travel perks to justify the fee.
The card now looks weaker against competing premium cards such as Axis Magnus, which still retains 8 Priority Pass visits per year and Meet & Greet, and Axis Atlas, which launches with 8 international plus 4 domestic lounge visits per year. HDFC Regalia also looks more attractive after its dining rewards improvement, especially for users who spend more on restaurants than on airport lounges. The net impact is negative for existing SBI Elite users, especially frequent flyers and hotel-loyalty members.
Existing cardholders should note that the change begins in June 2026 and is not something they need to opt into. There is no promo code or enrollment step because the bank is altering the benefit structure directly. Cardholders should check the exact quarterly reset dates and whether guest access is included or excluded under the new rule. If lounge access is the primary reason for holding the card, users should compare the economics against Axis Magnus, Axis Atlas, and HDFC Infinia before the June 2026 change takes effect. New applicants should be cautious and read the latest benefit schedule closely before applying through the official SBI Card Elite page.