Quick Verdict

  • The Makemytrip ICICI Bank Signature Credit Card ⓘ wins for everyday spend with a higher base reward rate of 1.25% versus SBI Card Pulse Credit Card’s 0.5%.
  • For travel perks and lounge access, Makemytrip ICICI Bank Signature Credit Card ⓘ also leads, offering 8 domestic and 4 international lounge visits annually, while SBI Card Pulse Credit Card provides only 8 domestic visits and no international lounge access.
  • SBI Card Pulse Credit Card is more expensive to hold with a joining and annual fee of Rs 1,499 each, compared to Rs 999 for Makemytrip ICICI Bank Signature Credit Card ⓘ. However, SBI offers a fee waiver on Rs 2 lakh annual spend, which Makemytrip ICICI does not.
  • Choose Makemytrip ICICI Bank Signature Credit Card ⓘ if you prioritize higher rewards on travel and dining and want international lounge access. Opt for SBI Card Pulse Credit Card if you want a premium welcome gift and complimentary memberships, and can meet the high waiver spend.

Side by Side

DetailMakemytrip ICICI Bank Signature Credit Card ⓘSBI Card Pulse Credit Card
Annual feeRs 999Rs 1,499
Joining feeRs 999Rs 1,499
Fee waiver on spendRs 2.00 lakh annual (Rs 16,667 per month)
Reward rate1.25%0.5%
Reward typepointspoints
Domestic lounge8 per year8 per year
International lounge4 per yearNone
Forex markup3.5%3.5%
Best suited fortravel, lounge, rewardslounge, dining, rewards, travel, shopping

Rewards Compared

Spending Rs 10,000 on the Makemytrip ICICI Bank Signature Credit Card ⓘ earns Rs 125 in rewards at the base rate of 1.25%. This card shines in the travel category with a 6% reward rate, translating to Rs 600 back on Rs 10,000 spent, and also offers 2.5% rewards on dining, giving Rs 250 back. This makes it highly attractive for frequent travelers and diners who can maximize category spends.

In contrast, the SBI Card Pulse Credit Card yields Rs 50 on Rs 10,000 at its base rate of 0.5%. It matches Makemytrip ICICI’s dining rewards at 2.5%, also Rs 250 back on Rs 10,000 spent, and extends this 2.5% rate to utilities as well. However, the overall lower base rate means that outside these categories, rewards accumulate more slowly, making it less rewarding for general spenders.

Fees Compared

The Makemytrip ICICI Bank Signature Credit Card ⓘ charges a joining fee and annual fee of Rs 999 each. There is no fee waiver based on spend, so cardholders pay these fees regardless of usage. The card’s base reward rate means you need to spend about Rs 79,920 annually just to cover the fees through rewards.

The SBI Card Pulse Credit Card is pricier with Rs 1,499 joining and annual fees. However, it offers a fee waiver if you spend Rs 2 lakh annually, which breaks down to about Rs 16,667 per month. This waiver threshold is steep, requiring disciplined high spending to avoid fees. Without meeting this, the card’s low base reward rate means it takes nearly Rs 3 lakh in annual spend to offset the fees purely through rewards.

Which One Should You Pick

Choose the Makemytrip ICICI Bank Signature Credit Card ⓘ if you are a frequent traveler or diner looking for strong rewards and lounge access both domestically and internationally. Its reasonable fees and lucrative category rates make it ideal for those who want consistent value without a high spend requirement for fee waivers.

The SBI Card Pulse Credit Card suits those who value premium welcome gifts like the Noise ColorFit Pulse 4 Pro Smartwatch and complimentary memberships, and who can comfortably spend Rs 2 lakh annually to waive fees. It is also a good pick if you want rewards on utilities and dining, but are less concerned about international lounge access.

If you do not travel internationally or cannot meet SBI’s high fee waiver spend, skip the SBI Card Pulse Credit Card. Similarly, if you want a card with a fee waiver on spend or are a low spender, the Makemytrip ICICI Bank Signature Credit Card ⓘ may be better, but you may miss out on SBI’s premium welcome benefits.

What to Check Before You Apply

  • Verify if there are any caps on the 6% travel or 2.5% dining rewards on the Makemytrip ICICI Bank Signature Credit Card ⓘ.
  • Check the redemption value and ease of using points for both cards, especially for travel vouchers or merchandise.
  • Understand the fee waiver math for SBI Card Pulse Credit Card carefully to ensure you can meet the Rs 2 lakh annual spend requirement.
  • Both cards charge 3.5% forex markup; consider this cost if you frequently spend abroad.
  • Confirm the domestic and international lounge access locations and guest policies to ensure they fit your travel habits.

FAQ

What is the forex markup fee on these cards?+
Both the Makemytrip ICICI Bank Signature Credit Card ⓘ and SBI Card Pulse Credit Card charge a 3.5% forex markup on foreign currency transactions.
How many lounge visits do these cards offer annually?+
Makemytrip ICICI Bank Signature Credit Card ⓘ offers 8 domestic and 4 international lounge visits per year, while SBI Card Pulse Credit Card provides 8 domestic visits but no international lounge access.
Can I get a fee waiver on the Makemytrip ICICI Bank Signature Credit Card?+
No, the Makemytrip ICICI Bank Signature Credit Card ⓘ does not offer any fee waiver based on spend; fees apply regardless of usage.
What are the welcome benefits of these cards?+
Makemytrip ICICI Bank Signature Credit Card ⓘ offers a ₹1,000 MMT voucher and MMTBLACK Gold Tier Membership, whereas SBI Card Pulse Credit Card provides a Noise ColorFit Pulse 4 Pro Smartwatch worth Rs 7,999 plus complimentary Fitpass Pro and Netmeds First memberships.
Is the SBI Card Pulse Credit Card suitable for low spenders?+
No, due to its high joining and annual fees and the Rs 2 lakh annual spend required to waive fees, it is better suited for high spenders who can maximize its benefits.