New Cashback SBI card launched!

[pjain2712]

5% Cashback on all online spends upto ₹10000, without any merchant restrictions.

Cashback not applicable on Rent Payments, Wallet Loads, Merchant EMIs, Cash Advances, Balance Transfer, Encash & Flexipay.



Application link: Click here to apply for cashback card

Card Review: https://www.technofino.in/sbi-cashback-credit-card-review/

UPDATE: CASHBACK SBI Card will be revised w.e.f. 01 May'23. For details, click https://sbicard.com/CashbackCard

 

[rohit_]

Guess during IPV or Verification call you can actually change card variant. Try once and let us know.

Okay 👍

 

[tuhin]

This card has a catch of zero cashback on wallet load. Now, I have experienced many times (mainly on Axis CC) that few merchants are using Paytm or PhonePe or Payzapp PG but Credit Card Company is capturing such payment as wallet load hence they are denying cashback. I hope, a similar issue will be faced through this card also. Thanks

 

[sahil624]

Is the CIBIL hit for the guys already holding SBI credit card?

 

[Nemesis]

This card has a catch of zero cashback on wallet load. Now, I have experienced many times (mainly on Axis CC) that few merchants are using Paytm or PhonePe or Payzapp PG but Credit Card Company is capturing such payment as wallet load hence they are denying cashback. I hope, a similar issue will be faced through this card also. Thanks

They have shared the merchant codes... E wallet loading transactions identified under MCCs 6540 and 6541
First thing they will exclude is Gold purchases... next you need to fight for cashbacks, ecom restriction on sale events, slowly you get tired will move over to others. It's their masterstroke to capture customers who have moved to other banks for better reward rates.
They are playing bluff based on recent economic slowdown/recession... expense would be less... less cashback... earn Rs999 from who all can't reach fee wavier.

 

[Pavan]

Is the CIBIL hit for the guys already holding SBI credit card?

yes for me there was hit..But application stuck with need additional documents

 

[Harry1]

They have shared the merchant codes... E wallet loading transactions identified under MCCs 6540 and 6541
First thing they will exclude is Gold purchases... next you need to fight for cashbacks, ecom restriction on sale events, slowly you get tired will move over to others. It's their masterstroke to capture customers who have moved to other banks for better reward rates.
They are playing bluff based on recent economic slowdown/recession... expense would be less... less cashback... earn Rs999 from who all can't reach fee wavier.

How about closing after 11 months.

 

[Tosh]

Most important point to note: 5% cashback not applicable on Utility Bill payments so this card cannot replace Axis ACE Card/Eterna card if someone looking to use SBI card for Bill Pay purpose.

Secondly I fear this card may get excluded during 10% discount offer on Flipkart/Amazon like ICICI do for Amazon Pay card and lately Axis also started excluding Flipkart Credit card from 10% discount offers for Axis cards on Flipkart.

Because 15% discount will never gonna be possible for long run else bank will not survive

Can one not buy amazon vouchers for 5% discount and use those for bill payments through Amazonpay? so that way 5% off on utility bill payments too

 

[Nemesis]

How about closing after 11 months.

They might charge Annual Fees based on pro rata basis... Will ask you to clear outstanding + Annual Fees before closing

 

[Harry1]

They might charge Annual Fees based on pro rata basis... Will ask you to clear outstanding + Annual Fees before closing

They clearly say free for first year. Limited time offer till March 2023. So prorated also will be zero only.

 

[tuhin]

They have shared the merchant codes... E wallet loading transactions identified under MCCs 6540 and 6541
First thing they will exclude is Gold purchases... next you need to fight for cashbacks, ecom restriction on sale events, slowly you get tired will move over to others. It's their masterstroke to capture customers who have moved to other banks for better reward rates.
They are playing bluff based on recent economic slowdown/recession... expense would be less... less cashback... earn Rs999 from who all can't reach fee wavier.

Merchant code is applicable for all card vendors but I observed, that those who are excluding Wallet Load, are somehow exploiting customers when they are using Wallet PGs. I have a long conversation with Axis PNO & they admitted that Axis System is rejecting cashback when it reads such names as Paytm/PhonePe etc. Most of the vendors have designed their system in such a way that even after having a different MCode, they can exclude cashback easily from the name. Moreover, my experience says Axis & Indusind statements are pretty clear on earning rates. They mention each & every transaction but SBI CARD statements are pretty confusing, they mention total earned. Hence, I believe many people will suffer from this clause. SBI Card will follow the same malpractices that others are doing.

 

[tatmb]

yes for me there was hit..But application stuck with need additional documents

same, I am not even able to track that application now.
It's throwing SBI Card credentials as entered by you are incorrect error.

 

[moonsmart]

nothing major, just employment details etc

How much limit you got as this is your first card?

 

[Bigde]

Does the sprint method works for people already holding a SBI card?

Didn't work for me, I am already holding an SBI card and tried applying for cashback card using sprint and the application got stuck after entering the home address.

 

[moonsmart]

Didn't work for me, I am already holding an SBI card and tried applying for cashback card using sprint and the application got stuck after entering the home address.

Salaried or self employed?

 

[Bigde]

Salaried or self employed?

Salaried.

 

[moonsmart]

Salaried.

CIBIL enquiry toh lag gyi hogi already? Kaunse step pe lagti hai any idea?

 

[Bigde]

CIBIL enquiry toh lag gyi hogi already? Kaunse step pe lagti hai any idea?

Once you enter your PAN, post entering CIBIL inquiry is done.

 

[007]

I believe this card comes on Visa Signature as I can see 080 Lounge in the complimentary lounge access list (1 per quarter).
Refer this:

https://www.visa.co.in/content/dam/VCOM/regional/ap/india/global-elements/documents/in-participating-airport-lounges.pdf

 

[Harry1]

applied via sprint- application took 10 minutes, got approval and virtual card instantly. fantastic from SBI!

lucky timing on the launch as I almost applied for the Eterna, which this card beats easily

My application also approved, it showed limit as well, but virtual card is not generating.

 

[ujjawal]

My application also approved, it showed limit as well, but virtual card is not generating.

Same issue with me and didn't get any email or sms for successful approval.
I got very low limit of 1.10L