[CLOSED] Advise on closing SBI Cashback Credit Card

[althafvly]

Update: (30-01-2025) Closed both sbi cashback cards.

Hi,

I’ve been using the SBI Cashback credit card as my primary card for the past 10 months. I use it for almost everything—subscriptions (like Netflix), gift cards, food, recharges, bills, offline purchases, and online shopping (Amazon, Flipkart, etc.). While the cashback rewards are great, I’ve noticed my spending has significantly increased.

This is the only paid credit card I have, with a current limit of ₹1,18,000. In just 10 months, I’ve spent over ₹2L on this card, which is more than I’ve ever spent in a year—even without a credit card. I’m now questioning if I’ve fallen into a cashback trap—spending more just to earn rewards.

I’m thinking about asking SBI if they can downgrade this to a Lifetime Free (LTF) card if they call me, but I’m also considering closing the card entirely to control my expenses. Has anyone been in a similar situation? Would downgrading to an LTF card help in managing spending, or is closing the card a better option?

Looking forward to this community thoughts and advice!

You can find the cards i currently hold here

https://www.technofino.in/community/threads/💳-share-brag-your-cards-portfolio-here-🤑.18/post-910197

 

[soccer]

Easier to perhaps put a spending limit for the card inside netbanking/app so that any transactions above it get declined, and your expenses remain in check.

 

[Rishabh]

Ask the bank to reduce your Credit limit to control your expenses.

 

[karankayastha]

If you have spend more than 2 lakh you can email them & tell them to convert it LTF even i did it

 

[althafvly]

Easier to perhaps put a spending limit for the card inside netbanking/app so that any transactions above it get declined, and your expenses remain in check.

Thanks for the suggestion! I’ve already tried setting a spending limit. I’m using around 30% of the limit. Even though it’s not the full limit, it still feels like a lot when I pay it back.

 

[althafvly]

Ask the bank to reduce your Credit limit to control your expenses.

Okay. I will try for this instead. If they can't downgrade 😅

 

[althafvly]

If you have spend more than 2 lakh you can email them & tell them to convert it LTF even i did it

Tried already. They rejected.

 

[Jeevan raoJeevan rao is verified member.]

This is an eternal dilemma for everyone starting on the credit card journey😆

 

[RAMESH BABU N]

If a CC is found useful, you need to keep it - irrespective of LTF/Paid status.

If a CC is inducing you to spend more n more than what is required (if you were to pay in cash), then it's not needed - even if it is LTF - however good it is for others.

YOU DECIDE. Others can, at best only suggest, based on their perceptions. So, avoid going by what others say.

YOU DECIDE.

 

[ankit_tf]

If you consider card benefits / discount as a reason to shop this will happen for sure. I have 7 active cards, but when I spend, the answer to the question "am I buying this only because it's on offer/addition discount" is never "yes". I buy things because I need them, just that I hold the buying whenever possible until a card offer comes up.

However, for this habit, the card is not required. People do overspend like this even without a credit card

May be just list down the transactions and analyze where you went outside of your need/habit.

 

[althafvly]

The card is closed. Just got the message today.

Dear Cardholder, w.r.t. SR No. XX889260XXXX your SBI Credit Card ending with XXXXXX68 has been deactivated w.e.f. 23/1/2025

 

[Rishabh]

The card is closed. Just got the message today.

Dear Cardholder, w.r.t. SR No. XX889260XXXX your SBI Credit Card ending with XXXXXX68 has been deactivated w.e.f. 23/1/2025

Got it converted to LTF: --

Thread 'SBI Cashback Card - Converted to LTF (Jan 2025)'

Jan 23, 2025

Hello Folks,

FYI I have recently managed to get my SBI Cashback credit card converted to LTF through an email request 🙂

I have been using the card now from more than 2 years with last 2 years spends crossing 2lacs & have got fee waiver against the same.
Few days back just thought of writing email to SBI team requesting them to consider converting my Cashback card to LTF basis my past spend records without having strong expectation of getting any success.

As a first response got a call from SBI executive mentioning about no such offer available at present on the card to convert it to...

• Rishabh
• card cashback cashback card ltf sbi sbi cashback sbi cashback card
• Replies: 147
• Forum: SBI Cards

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[althafvly]

Thanks for all your advice and insights earlier! I ended up requesting a closure for the SBI Cashback card, and they processed it without even a confirmation call. I only received a closure confirmation via message in about a week.

A few days later, I regretted the decision and reached out to SBI via mail to check if reopening the card was possible. Unfortunately, they said it wasn't.

I tried calling their support to see if reissuing was possible, but they confirmed it couldn't be reopened. So, I decided to apply for the card again just to see what would happen—and to my surprise, it was approved in just 10 minutes! My credit limit was increased from ₹1.18L to ₹1.6L. This time, I opted for Mastercard instead of Visa.

To avoid overspending, I've set a personal limit of ₹10,000 per month on the card and removed it from Tap & Pay. As for the annual fee, I plan to deal with it for now but will try spamming them every month to get it converted to a lifetime free card.

Edit: Closed new mastercard aswell 😛😅. Yes you heard right.

 

[SreeU]

Thanks for all your advice and insights earlier! I ended up requesting a closure for the SBI Cashback card, and they processed it without even a confirmation call. I only received a closure confirmation via message in about a week.

A few days later, I regretted the decision and reached out to SBI via mail to check if reopening the card was possible. Unfortunately, they said it wasn't.

I tried calling their support to see if reissuing was possible, but they confirmed it couldn't be reopened. So, I decided to apply for the card again just to see what would happen—and to my surprise, it was approved in just 10 minutes! My credit limit was increased from ₹1.18L to ₹1.6L. This time, I opted for Mastercard instead of Visa.

To avoid overspending, I've set a personal limit of ₹10,000 per month on the card and removed it from Tap & Pay. As for the annual fee, I plan to deal with it for now but will try spamming them every month to get it converted to a lifetime free card.

How did you apply? From Net banking or sprint?

 

[FFLYER]

You fell in trap again. If you are having such issues, this game is not for you.

 

[althafvly]

How did you apply? From Net banking or sprint?

Via sbi sprint.

 

[RadTheCrab]

Thanks for all your advice and insights earlier! I ended up requesting a closure for the SBI Cashback card, and they processed it without even a confirmation call. I only received a closure confirmation via message in about a week.

A few days later, I regretted the decision and reached out to SBI via mail to check if reopening the card was possible. Unfortunately, they said it wasn't.

I tried calling their support to see if reissuing was possible, but they confirmed it couldn't be reopened.

As I started reading through this thread, I was moved by your thoughts and impressed by your decision to close the SBI CASHBACK card to control unnecessary spending. I started thinking highly of you—until I read this 🤣. Lol, all in good fun—no offense!

 

[tachniki]

So, you closed a card, that was free for you for at least one year as you already spent 2 lakh rupees. And then you ordered same new card with joining fees? Wow. You may want to learn to keep your card and impulses in closet. 😔😔😔 Sorry man. Hope last mistake of this kind.

 

[althafvly]

So, you closed a card, that was free for you for at least one year as you already spent 2 lakh rupees. And then you ordered same new card with joining fees? Wow. You may want to learn to keep your card and impulses in closet. 😔😔😔 Sorry man. Hope last mistake of this kind.

I closed new one aswell.

 

[Credit_Cards]

This post is an eye opener for me.