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SBI Cashback Credit Card- Annual fee debited

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skyisthelimit

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Annual fee for SBI Cashback Credit card is debited yesterday, even after, spending of more than Rs. 2 lakh.

Will it get reversed automatically or take up the matter with "Clueless SBI Card" ?
 
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shashifed said:
Context - Spent close to 10lakhs on my SBI Cashback card this year. The card was issued last year October. Now when Im checking my credit card statement, I have an annual fee charged (1180 rupees). Is this a bug? or will my fees be reversed?
PS: Dont mind paying the fee, but I don't want SBI to go back on their word!
Click to expand...
It will be reversed along with GST in a few weeks. Same happened to me as well.
 
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shashifed said:
Context - Spent close to 10lakhs on my SBI Cashback card this year. The card was issued last year October. Now when Im checking my credit card statement, I have an annual fee charged (1180 rupees). Is this a bug? or will my fees be reversed?
PS: Dont mind paying the fee, but I don't want SBI to go back on their word!
Click to expand...
Lobogris said:
It will be reversed along with GST in a few weeks. Same happened to me as well.
Click to expand...
If you guys had spent about 10 lakhs p.a.
you can request them for LTF and they will gladly oblige as done by a few including myself
I spent about 7 lakhs only
 
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Lobogris said:
What is the problem of you are filing required tax? IT won't do anything. All they get is a report. If they check, they will see that the person has enough income and has paid tax on it. What's the worry?
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Not a problem for people with genuine spends but why bring additional scrutiny to the tax returns.

If you are the one doing spends for your whole family and you exceed above 10 lakh in multiple cards, there is an additional headache to explain if asked by IT.

The real problem is for the rotators.
 
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starstruck said:
If you are the one doing spends for your whole family and you exceed above 10 lakh in multiple cards, there is an additional headache to explain if asked by IT
Click to expand...
starstruck said:
Not a problem for people with genuine spends but why bring additional scrutiny to the tax returns
Click to expand...

To catch the naughty guys…
While implementing these systems,
unfortunately sometimes the obedient guys get caught in the process.. and had to spend some unwanted time explaining themselves..
Without these kind of measures, catching naughty guys becomes very difficult .
To avoid this unpleasant situation , spread your and your family spends across different FYs and across different cards
 
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I have spent around 1.8L on SBI cashback credit card, and I will be charged with annual fee on December 13th, can I call SBI and ask for fee wavier, will they consider or should I spend another 20k for automatic wavier?
 
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Vineeth043 said:
I have spent around 1.8L on SBI cashback credit card, and I will be charged with annual fee on December 13th, can I call SBI and ask for fee wavier, will they consider or should I spend another 20k for automatic wavier?
Click to expand...
In advance ,They will not consider for Annual fee waiver..
Either spent additional 20k for automatic waiver or wait for A/F to be charged and then call for waiver..
 
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Pankhuri said:
are spends which are reversed counted towards this? Say I order something and cancel it two days later, will that spend be counted towards 10L? Bank at least consider the reversed money as payment towards the statement, so I wonder would spends like these could also F**k someone over, especially those who want to avoid it but tread closely to that line.
Click to expand...
SBI doesn't count refunds as payments towards the statement.
 
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How do I check how much have I spent on through this card in the last year? I think I would've crossed the 2L mark. Also transactions made as EMI from merchant itself (not post facto) are considered or not for annual fee waiver?
 
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