This card will fail miserably in the market - IF SBICards continue it's over-leverage-issue to approve. By now, most of the TARGET GROUP - those who are 50+ - are already having credit cards - multiple of them at that.
The target group - those who buy medicines and opt for health tests - are primarily those who are 50+. And, a majority of those who are less than that age group, are already covered by Corporate benefits (if salaried).
The legendary over-leverage-issue yardstick which SBICards use, may be OK for SBI CashBack card.
But, using the same yardstick or the same algorithms for their recently launched cards like SBI PhonePe, SBI FlipKart, SBI TataNeu, SBI Reliance or SBI Apollo
will not get them the needed/targeted number of issuals.
In my own case, they have denied SBI PhonePe, SBI Flipkart and SBI Apollo cards. I did not apply for the other two recent launches.
This sort of denials never used to happen till 2020. Till then, the policy was more-the-merrier. Once, I had about 5 SBI cards. Now only SBI Cashback Visa.
They are not even giving a RuPay card.
Let's see what SBICards is going to do now.