Got call from my SBI bank branch regarding my SBI credit card

[m.a.d_eye]

Today morning I got call from my SBI bank branch regard my SBI simply save rupay credit card.
I use this card mostly for UPI payments and got this card few months back only.

Bank Lady told me there is an offer for me so they can upgrade my SBI simply save rupay credit card to SBI CashBack rupay credit card in free.
I asked specifically if she is sure that card will be a rupay card because I use it for UPI payments she told yes and she told limit will also be increased as current limit on simply save is Rs. 1.36L.

Now the thing is Renewal Fee (per annum): Rs. 999 in cashback credit card and Renewal Fee reversed if annual spends for last year >= Rs. 2,00,000
which is Rs. 500 in simply save and Renewal Fee reversed if annual spends for last year >= Rs. 1,00,000.

What do you guys suggest? Should I got to branch and take this update?
Did any one else had this kind of upgrade? please share experience so it will be little easy for me to decide.

 

[SSV]

You spend genuinely so that others can rotate in Peace.
Genuine spenders are required so that cards/banks can survive.

Fair enough.. I and (people like me ) are doing favour to you and (people like you)….
Enjoy while the Sun shines …
But don’t promote it aggressively otherwise the Sun sets very sooner than usual…
Have fun

 

[MangoRush]

No looting here, never ever transferred money back to bank nor I will in future
Open for any independent audit ..

I never ever promote rotation or back to bank transactions..

My statement on this subject in September last year can be found here..

Suggest me a lifetime free credit card.

Current I am having following cards as lifetime free: ->HDFC Millenia(90k) ->Federal Imperio (1.66L) ->Amazon ICICI (1L) -> ICICI Platinum (1L) -> ICICI Coral Rupay(1L) ->IndusInd Legend(75k) ->Kotak Zen(88K) ->Yes Bank Fin booster (60K) I would like to add some more LTF credit cards. I am...

www.technofino.in

You are taking this forum too seriously. Not everything is about what you do or don't do.

Others really don't care what one does in their own life 🙂

 

[SSV]

You are taking this forum too seriously. Not everything is about what you do or don't do.

Others really don't care what one does in their own life 🙂

I never said follow me or not to follow me.
I am just expressing my views..
Any issues with that ?

It seems you are taking my views seriously 😉
Chill !!

 

[MangoRush]

Ok so I have update here, didn’t wait till Monday just came back from bank

It wasn’t any scam and lady was there but she was a sbi card agent.
I asked and she agreed that there is an offer for me to upgrade my existing card to sbi cashback card.
I asked what do I need to do
She asked to open my sbi yono app and then she did some steps
After that asked my email ID
Then I asked please show me where it is written that it’s sbi cashback card will be with rupay network.
She did few steps back and showed it was sbi cashback card.
Then I again asked it’s not showing it will be a Rupay card
She checked some more pages then went to her senior
Came back and told this card will be visa card.
Then I denied the upgrade and said I use my card specifically for UPI payment and Visa is not applicable for it.
She understood and told she will call if Rupay variant of sbi cashback card will be available in future.

To summarise she wasn’t fully aware of card network when I talked to her in call and SBI cashback credit card is not available in Rupay network but there was an upgrade available for me which didn’t opt.

Only SimplySave is available in RuPay.

I went till PNO for SimplyClick RuPay after seeing some posts online, but they mentioned they have not launched it at all.

 

[Predator]

tumhe mahine ka 5000 bhi to dena h bank ne. kahi se ayga to tbhi de payge na

 

[Abhishek012]

tumhe mahine ka 5000 bhi to dena h bank ne. kahi se ayga to tbhi de payge na

Banks yeh sab offers dekar nahi dubega, offers short term investment hote hai.

Long term vision kya hai humlogo ka ? India ke har koi credit card use kare and digital payment use kare. Isliye nahi kare ki cashback offers milte ho. Bas isliye use kare kyunki woh better hai, time ki bachat hota hai aur yeh understanding hone me generation lag jate hai.

Cashback offers unlogo ko attract karne k liye hai jo log kam credit card and digital payment ka use karte hai. Ekbar adat lag jaye phr cashback offers dhire dhire haata do, woh log koi aur credit card k piche bhagega but digital payment karna nahi chorega.

Aur ekdin aisa aayega jab cashback milna almost band ho jayega but unke DNA me digital payment and credit card ki adat lag jayega.

Aur jo vision tha suruwat se woh pura ho jayega. phir hoga bank ki asli kamai aur log jada se jada phir EMI ka use karenge, banks ko aur jada profit hoga.

Kuch log default bhi kar jayega toh digital payment ko nahi chorega bas credit card use karna band kar dega, digital payment unke DNA me rahega.

 

[Predator]

Banks yeh sab offers dekar nahi dubega, offers short term investment hote hai.

Long term vision kya hai humlogo ka ? India ke har koi credit card use kare and digital payment use kare. Isliye nahi kare ki cashback offers milte ho. Bas isliye use kare kyunki woh better hai, time ki bachat hota hai aur yeh understanding hone me generation lag jate hai.

Cashback offers unlogo ko attract karne k liye hai jo log kam credit card and digital payment ka use karte hai. Ekbar adat lag jaye phr cashback offers dhire dhire haata do, woh log koi aur credit card k piche bhagega but digital payment karna nahi chorega.

Aur ekdin aisa aayega jab cashback milna almost band ho jayega but unke DNA me digital payment and credit card ki adat lag jayega.

Aur jo vision tha suruwat se woh pura ho jayega. phir hoga bank ki asli kamai aur log jada se jada phir EMI ka use karenge, banks ko aur jada profit hoga.

Kuch log default bhi kar jayega toh digital payment ko nahi chorega bas credit card use karna band kar dega, digital payment unke DNA me rahega.

The markets of some Western nations are pretty mature but this Cashback/offer stuff is still popular there.
So, Cashbacks and offers are here to stay.

And, once the surveillance etc. increases with digital payments beyond a threshold, cash will make a comeback

 

[Predator]

Banks yeh sab offers dekar nahi dubega, offers short term investment hote hai.

Long term vision kya hai humlogo ka ? India ke har koi credit card use kare and digital payment use kare. Isliye nahi kare ki cashback offers milte ho. Bas isliye use kare kyunki woh better hai, time ki bachat hota hai aur yeh understanding hone me generation lag jate hai.

Cashback offers unlogo ko attract karne k liye hai jo log kam credit card and digital payment ka use karte hai. Ekbar adat lag jaye phr cashback offers dhire dhire haata do, woh log koi aur credit card k piche bhagega but digital payment karna nahi chorega.

Aur ekdin aisa aayega jab cashback milna almost band ho jayega but unke DNA me digital payment and credit card ki adat lag jayega.

Aur jo vision tha suruwat se woh pura ho jayega. phir hoga bank ki asli kamai aur log jada se jada phir EMI ka use karenge, banks ko aur jada profit hoga.

Kuch log default bhi kar jayega toh digital payment ko nahi chorega bas credit card use karna band kar dega, digital payment unke DNA me rahega.

Do you know these UPI Apps and Banks keep track of your transactions?
They keep a note of transactions on the Liquor stores, gambling apps, etc. This data gets shared with other entities and affects your lending rates or helps a Fintech company to know what type of guy this is.

 

[Abhishek012]

The markets of some Western nations are pretty mature but this Cashback/offer stuff is still popular there.
So, Cashbacks and offers are here to stay.

And, once the surveillance etc. increases with digital payments beyond a threshold, cash will make a comeback

USA -

This is because Visa/Mastercard are MNC companies. Innovation has stagnated in the US because of the Visa/MasterCard lobby.

US now also launch FEDNOW like instant payment system.

Senate Bill 1838 118th Congress (2023-2024) introduced in US parliament - https://www.congress.gov/bill/118th-congress/senate-bill/1838/cosponsors

Bill Intelligence

Key Points

• The bill aims to promote competition in credit card transactions.
• The bill prohibits covered card issuers or payment card networks from restricting the number of payment card networks on which an electronic credit transaction may be processed.
• The bill also prohibits covered card issuers or payment card networks from inhibiting the ability of any person who accepts credit cards for payments to direct the routing of electronic credit transactions.

After all this happens, then see how much cashback you will get on US credit cards.

Visa/Mastercard has already said several times, once this bill is passed. Credit card rewards/cashback will be reduced in US market.

UK -

UK payments report calls for alternatives to Mastercard and Visa - https://www.reuters.com/technology/uk-payments-report-calls-alternatives-mastercard-visa-2023-11-22/

Europe -

Europe’s banks temper ambitions to challenge big US payments groups - https://www.ft.com/content/9154b4a7-b784-45f6-8643-543fef1d4763

Innovation stopped in the Western nations and all power went to Visa and MasterCard.
You will have to wait for few decades and then you will see the credit card cashback will be reduce in Western nations.

 

[Abhishek012]

Do you know these UPI Apps and Banks keep track of your transactions?
They keep a note of transactions on the Liquor stores, gambling apps, etc. This data gets shared with other entities and affects your lending rates or helps a Fintech company to know what type of guy this is.

So ? ? they also track card transactions too.

 

[Strange]

Today morning I got call from my SBI bank branch regard my SBI simply save rupay credit card.
I use this card mostly for UPI payments and got this card few months back only.
View attachment 42617
Bank Lady told me there is an offer for me so they can upgrade my SBI simply save rupay credit card to SBI CashBack rupay credit card in free.
I asked specifically if she is sure that card will be a rupay card because I use it for UPI payments she told yes and she told limit will also be increased as current limit on simply save is Rs. 1.36L.

Now the thing is Renewal Fee (per annum): Rs. 999 in cashback credit card and Renewal Fee reversed if annual spends for last year >= Rs. 2,00,000
which is Rs. 500 in simply save and Renewal Fee reversed if annual spends for last year >= Rs. 1,00,000.

What do you guys suggest? Should I got to branch and take this update?
Did any one else had this kind of upgrade? please share experience so it will be little easy for me to decide.

State Bank of India and SBI Card are not related.

These SBI card agents doesn't even work for SBI Card they are third party agents given a seat to sell SBI Card in SBI Branch.

SBI Cashback card can not be applied offline.

Nobody has got upgrade to SBI Cashback card yet.

That SBI Card is trying to trick you in to applying some high variant card.

 

[Predator]

So ? ? they also track card transactions too.

I don't think so, CC data is shared as of now.
If that happens then firstly this 10L per financial year limit per bank would become an overall 10 L expenditure.
Currently, CC is not shared among financial entities.

 

[Predator]

After all this happens, then see how much cashback you will get on US credit cards.

Let it happen first, then only one can compare if there is a fall in Credit Card transactions or ppl will continue to use them.

 

[Jackk]

State Bank of India and SBI Card are not related.

These SBI card agents doesn't even work for SBI Card they are third party agents given a seat to sell SBI Card in SBI Branch.

SBI Cashback card can not be applied offline.

Nobody has got upgrade to SBI Cashback card yet.

That SBI Card is trying to trick you in to applying some high variant card.

But Cashback card can be applied via YONO app too? does it in any way positively the influence the chances of approval relative to sprint? Tried Sprint 2 months back but rejected since my address on aadhar was not serviceable for cashback card and had to put in another address which created a discrepancy and verification hurdle. Now considering the option to apply via yono. Will it be any good?

 

[Strange]

But Cashback card can be applied via YONO app too? does it in any way positively the influence the chances of approval relative to sprint? Tried Sprint 2 months back but rejected since my address on aadhar was not serviceable for cashback card and had to put in another address which created a discrepancy and verification hurdle. Now considering the option to apply via yono. Will it be any good?

No, It will get rejected if your pincode is not serviceable.

 

[card-shard]

so bank lady lied to me!!! 🙁
I already have visa HDFC millennia CC so just need Rupay one.

How do you know, that the lady was indeed a bank employee and NOT A SCAMMER???
(Card upgrade + Limit upgrade in one go, seems too good to be true, and that's where lot of people get scammed)

The modus operandi of scammers is to trick you in getting your card's sensitive details in the name of upgrade on phone. If you ask too many questions, they will disconnect call "gracefully" by saying to get further details by branch.
I bet, that if you haven't verified the identity of the bank employee, there will be no such offer, and you will return sad+happy from the branch.
Sorry : as there will not be such "COMBO" offer.
Happy : You "luckily" survived scamming attempt.

 

[panchabhut]

SBI Cards are offered by SBICPSL, which is a subsidiary of SBI. So the SBI "Bank" employees will never call for that and also will never take any responsibility if anything goes wrong. Anyone who claims to be calling from "SBI Bank" and offers SBI card is 100% lying.

 

[yusuf646]

SBI cashback card is "rozgar card"

Filhal to yahi haal hai SBI CB Card ka🙂