Spend criteria question

[cowcoconut]

Hey,
I had a couple queries on spend thresholds:

1. Suppose I use 50k in my SBI cashback (all online) and get 2500 cashback. There is now a negative balance -2500 in my account after paying my bill. Now will the next 2.5k I spend on this card count towards the renewal fee waiver?

2. I have an ICICI Sapphiro LTF that has lounge access on 5k spend/qtr. I got a 3k refund from a previous quarter purchase this quarter. Now do I need to spend 8k on this card for lounge access next quarter?

 

[lijov]

Hey,
I had a couple queries on spend thresholds:

1. Suppose I use 50k in my SBI cashback (all online) and get 2500 cashback. There is now a negative balance -2500 in my account after paying my bill. Now will the next 2.5k I spend on this card count towards the renewal fee waiver?

2. I have an ICICI Sapphiro LTF that has lounge access on 5k spend/qtr. I got a 3k refund from a previous quarter purchase this quarter. Now do I need to spend 8k on this card for lounge access next quarter?

1. As far as I understand, only cumulative spending counts towards spending milestone waiver. Payment doesn't bring down your spending, it will only bring down your next credit card bill. However, If there is a refund in between, your total spending will come down by that much.

2. Spending in each quarter is different. You need to spend 5k in this quarter for lounge access in next quarter. Don't worry about the refund in past quarter. But the refund might impact your lounge access for this quarter.

 

[cowcoconut]

Payment doesn't bring down your spending

I meant that after I pay the bill, I get a cashback credited to the account. This is -2.5k. Does this affect my future spends?

Thanks for the other answer

 

[lijov]

I meant that after I pay the bill, I get a cashback credited to the account. This is -2.5k. Does this affect my future spends?

Thanks for the other answer

Cashback also doesn't reduce your spending. It will be credited as treated as part of your payment and would bring down your statement.

 

[cowcoconut]

Cashback also doesn't reduce your spending. It will be credited as treated as part of your payment and would bring down your statement.

That's great thanks!

 

[scoryze]

Tip: You can also pay total due - cashback, if you don't want negative balance in your account. Cashback is also counted as payment.

 

[cowcoconut]

Tip: You can also pay total due - cashback, if you don't want negative balance in your account. Cashback is also counted as payment.

Oh that's really cool, hope it is tried and tested for SBI cashback. I don't want a nasty cibil hit.

 

[scoryze]

Oh that's really cool, hope it is tried and tested for SBI cashback. I don't want a nasty cibil hit.

I've tested it myself, It works. You can still confirm with customer care though.