SBI Card [CLOSED] Advise on closing SBI Cashback Credit Card

[althafvly]

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

Post in thread '💳 Share & brag your cards portfolio here! 🤑'

Jan 15, 2025

Updated portfolio.

Closed axis Ace card, kept axis neo for offers and its also LTF. I didn't had a good experience with cc team while interactions that's why i closed ace card. I can get almost all the same benefits except offline 1.5% with sbi cashback.

New additions (Both pre-approved):
1. Federal Virtual UPI card LTF
2. ICICI coral rupay LTF

Also got an LE to 2L for federal.

Only one paid card atm. Total 8 cards.

My updated 1.8 year old CC portfolio consists of following cards:

1. HDFC Moneyback+ Rupay
2. ICICI Amazon pay
3. Federal bank imperio visa
4. Axis neo visa
5. SBI...

• althafvly

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[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 rao]

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)'

Yesterday at 4:27 PM

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: 13
• Forum: SBI Cards

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