Is SBI Cashback card even worth it?

[card.enthusiast]

I have been tracking my expenses and cashback for last 8 months and I am not able to reconcile where they give 1% and where they give 5%.

When they say "online", it looks like purely Indian e-commerce sites like Flipkart, Amazon, and BigBasket qualify, and not really other places you pay on web. Places I've not gotten are- Tata AIG insurance, Google workspace account, Uber, Indeed premium, any charity (e.g. Goonj, Akshaypatra), Flynote vacations (received once, didn't receive second time), Agoda hotels, etc. This is approximation because my calculated numbers and their numbers don't exactly match.

Because of this uncertainty, my net cashback for last year is 2.6% even though I use this card exclusively online. This is less than 3.3% default from Diner Black where I don't have to think at all. Moreover in middle of month when I check I see one number, in the statement I see different number (even smaller), and in the credit I see even other different number than in the statement. When asking customer service, they sent generic response on which MCCs are eligible and which not. This doesn't explain why their own statement amount and credit amount are different.

I want to cancel this card. What am I missing?

 

[prashu]

which is the best time to apply cashback credit card.?
Last time i applied on Nov 18 and it was rejected on Jan 12.

 

[SSV]

which is the best time to apply cashback credit card.?
Last time i applied on Nov 18 and it was rejected on Jan 12.

March 2/ 3 week

 

[KUMARIPH]

I have been tracking my expenses and cashback for last 8 months and I am not able to reconcile where they give 1% and where they give 5%.

When they say "online", it looks like purely Indian e-commerce sites like Flipkart, Amazon, and BigBasket qualify, and not really other places you pay on web. Places I've not gotten are- Tata AIG insurance, Google workspace account, Uber, Indeed premium, any charity (e.g. Goonj, Akshaypatra), Flynote vacations (received once, didn't receive second time), Agoda hotels, etc. This is approximation because my calculated numbers and their numbers don't exactly match.

Because of this uncertainty, my net cashback for last year is 2.6% even though I use this card exclusively online. This is less than 3.3% default from Diner Black where I don't have to think at all. Moreover in middle of month when I check I see one number, in the statement I see different number (even smaller), and in the credit I see even other different number than in the statement. When asking customer service, they sent generic response on which MCCs are eligible and which not. This doesn't explain why their own statement amount and credit amount are different.

I want to cancel this card. What am I missing?

I agree. They randomly decline certain online transactions saying merchant is not registered / verified by them. Even when i purchased stuff like apparel on sites like Cashkaro they declined for some transactions and gave cashback on others. But on net basis i ended getting 2.7% cashback on online transactions. Given the uncertainty i have stopped using this card for large ticket transactions unless done on site like Flipkart, Amazon, etc.

 

[tachniki]

I agree. They randomly decline certain online transactions saying merchant is not registered / verified by them. Even when i purchased stuff like apparel on sites like Cashkaro they declined for some transactions and gave cashback on others. But on net basis i ended getting 2.7% cashback on online transactions. Given the uncertainty i have stopped using this card for large ticket transactions unless done on site like Flipkart, Amazon, etc.

Very surprised with people's experience here. They have very well mentioned the excluded mcc. Except once, i have never been surprised by them. One time I paid on Urban company. And I didn't realize that would have mcc code for utilities. But now when i think, mcc code is correctly applied.

There is another unexpected place I have got cashback thrice. I have mentioned twice already in this forum but no one agrees with me. 😁

 

[TheGuy]

But on net basis i ended getting 2.7% cashback

that is also very good. comparable to Infinia- DCB etc.