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SBI Cashback Credit Card Review

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@bhavyegoel Annual Fee charged on my SBI Cashback credit card! It was supposed to be 1st year free.. Isn't it??
Update:
Mine annual fee too got reversed with GST as I can see in app.... I had complaint through mail to their CC....
 
Last edited by a moderator:
AsishB said:
This card can be actually used to replace 90% of my purchases, since most of the shop owners charge 1-2% for Credit Card transactions offline. In addition, I don't need to worry about getting multiple co-branded cards. I can focus on this one, and hold some non-cobranded ones for other discounts.
The only problem that I can think of is - this card is way too good to be true. All co-branded cards have, at one point of their time, downgraded their rewarding systems. So, what if SBI does that too, as this card is just C.R.A.Z.Y?
Click to expand...
Hopefully should last at least a few months, considering the aggressive promotions they are doing about the 5%. They can't afford the backlash of reversing the offering or putting major caps/devaluations before a few months at the very least.
 
bhavyegoel said:
This card is a delight for cashback lovers and I am highly recommending it! All those who are worried about its fee should think that to break even you need to spend just ₹23,600 in a year and above that, all the cashback is nothing but your net gain if you don't cross the ₹2L mark!

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


View attachment 4105

I am also going to flip my Simply CLICK card with this one once the card application process gets streamlined in 2-3 days. It's better to wait for some time as I have heard many are facing glitches while applying it online.


This card can replace all the cashback cards like ICICI Amazon Pay, RBL Zomato Edition, and Standard Chartered Smart and even beats Standard Chartered Ultimate handsomely if you are a heavy online-only spender and hardly use cards offline. And if you get this one then why even keep paid cards like Axis Flipkart, and HDFC Millennia in your portfolio?


This card also gives a serious run for money to BOB Eterna which is offered for a hefty fee of ₹2500 + GST but be mindful that Eterna rewards wallet loads and rent payments also. So I would not recommend weeding out all the winning cards from your portfolio in haste since the reward rate of this card is definitely not sustainable in long run so replace only what you are confident of getting back in case a devaluation happens.


Though this card doesn't give accelerated rewards on Utility Bill Payments like Axis Ace but then you always have the option of rooting those spends through any online platform which can help you mask the merchant. 😉

Are you also planning to grab an SBI Cashback card ASAP? Share your thoughts below!
Click to expand...
Definitely good card. There are few cards which give you better return if your spends are on higher side.
On comparison with SC Ultimate, I still think it is a better card as SBI caahback doesn't give high returns on rental payment which is high spend for most of us.
Saying this, cashback card give very good opportunity to consolidate due to simple straightforward high reward rate with no complications like Milestone etc.
 
The reason why I wouldn't get too excited about this card is that it will 100% follow the same path that Zomato Edition did.
I put the devaluation at 7-8 months from now. Now of course, you could use it to the max in those months, but dont surrender your APay or FK Axis just yet, as getting them again is a bit difficult.
 
Many people have complained that they are getting a Joining Fee of Rs 999 + GST, even when card was supposed to be FYF
 
Annual fee gets reversed automatically as well, without the need to raise complaints. GST gets reversed too, so don't worry too much about it!
 
akshayhs said:
GST components are not reversed for fuel surcharge. It's even mentioned on most credit card product pages.
Click to expand...
in HDFC my LTF card they charged some charges with GST but after complaint i got charge reversal only not GST even though its not fuel related....anyways lets make digital India rich as long as banks pay it to govt from us!
 
Wealth is my birth right! said:
Yes GST part we've to thank SBI, actually in ICICI and HDFC fuel surcharge reversals i never get back GST lol
Click to expand...
I was referring only to Annual Fee Reversals. GST surcharge is not refunded even for Overlimit Fee reversal, and most certainly not for Fuel transactions.

Wealth is my birth right! said:
in HDFC my LTF card they charged some charges with GST but after complaint i got charge reversal only not GST even though its not fuel related....anyways lets make digital India rich as long as banks pay it to govt from us!
Click to expand...
Yes, most other charge reversals happen only for the main component, not for GST. But almost every Annual Fee reversal happens with GST included in most cases where the card was anyway supposed to be free.
 
any idea if the cashback credited will be considered as partial bill payment and will not have to pay bill with full outstanding amount?
 
M
bhavyegoel said:
This card is a delight for cashback lovers and I am highly recommending it! All those who are worried about its fee should think that to break even you need to spend just ₹23,600 in a year and above that, all the cashback is nothing but your net gain if you don't cross the ₹2L mark!

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


View attachment 4105

I am also going to flip my Simply CLICK card with this one once the card application process gets streamlined in 2-3 days. It's better to wait for some time as I have heard many are facing glitches while applying it online.


This card can replace all the cashback cards like ICICI Amazon Pay, RBL Zomato Edition, and Standard Chartered Smart and even beats Standard Chartered Ultimate handsomely if you are a heavy online-only spender and hardly use cards offline. And if you get this one then why even keep paid cards like Axis Flipkart, and HDFC Millennia in your portfolio?


This card also gives a serious run for money to BOB Eterna which is offered for a hefty fee of ₹2500 + GST but be mindful that Eterna rewards wallet loads and rent payments also. So I would not recommend weeding out all the winning cards from your portfolio in haste since the reward rate of this card is definitely not sustainable in long run so replace only what you are confident of getting back in case a devaluation happens.


Though this card doesn't give accelerated rewards on Utility Bill Payments like Axis Ace but then you always have the option of rooting those spends through any online platform which can help you mask the merchant. 😉

Are you also planning to grab an SBI Cashback card ASAP? Share your thoughts
Click to expand...

Sachs said:
M
Click to expand...
My application got rejected
 
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