SBI Cards has introduced SBI Cashback Credit Card for all its customers. This credit card offers 5% cashback to users doing regular online transactions and 1% cashback to users doing offline transactions.
CardType: Cashback
Rewards:
- Cashback:
- If you spend anything on any category with the help of this credit, you get 5% cashback on that expenditure. (no merchant restrictions).
- Earn 1% cashback on all offline transactions (except for excluded categories).
- Maximum cashback limit: Rs. 5,000 per statement cycle (cumulative online and offline).
Exclusions (transactions not earning cashback):
- Merchant EMI and Flexipay EMI transactions.
- Utility bill payments.
- Insurance premium payments.
- Fuel purchases.
- Rent payments.
- Wallet recharges.
- School and educational services fees.
- Jewelry purchases.
- Railway tickets.
Other benefits:
- Worldwide acceptance for international transactions.
- 1% fuel surcharge waiver at all petrol pumps in India.
- To speed up payments you get the option of contactless payments with this card
- Add-on cards can be obtained for family members.
Fees:
- Joining fee: Rs.999
- Annual fee: Rs. 999
- Renewal Fee reversed if you spent Rs. 2,00,000 last year
Additional points to consider:
- Interest rates and charges: As with any credit card, the SBI Cashback Credit Card has interest rates and charges that apply for late payments, missed payments, etc. Before applying for a credit card, understand all its charges thoroughly.
- Reward points redemption: All the cashback earned from this credit card is deposited in your credit card account and the amount of cashback credited to your credit card is deducted from your credit card bill.
Pros & Cons
Pros:
- High Cashback on Online Spends: This credit card offers you 5% cashback on all online transactions without any merchant restrictions.
- Decent Cashback on Offline Spends: This card gives you 1% cash back on offline purchases,
- Fuel Surcharge Waiver: Even if you don’t get cashback on fuel purchases, you still save some money.
- Worldwide Acceptance: You can use this credit card for international transactions without any hassle.
- Contactless Payments: For small purchases you get contactless convenience with this credit card.
- Add-on Cards: You can also give your family members a chance to earn cashback.
Cons:
- Annual Fee: Your annual fee will be waived if you spend Rs 200,000 in
- Limited Cashback Categories: When you spend on insurance, utility bills, and fuel with the help of this card, you do not get cashback.
- Reduced Cashback Limit: You can earn only Rs 5000 per month with the help of this credit card.
- Potential for Devaluation: This card’s benefits have been reduced in the past, so there’s a chance it could happen again.
- No Reward Points Flexibility: Some credit cards offer you a variety of options for redeeming your reward points.
Please Read Our other credit card reviews
- Standard Chartered Smart Credit Card
- ICICI Bank Platinum Chip Credit Card
- HDFC Bank Millennia Credit Card
- BPCL SBI Credit Card All Details
- SBI SimplyCLICK Credit Card
- SBI SimplySave Credit Card
Overall:
SBI Cashback Credit Card is a good option for those who spend large amounts of money online and want to earn direct cashback on that large amount. If you spend heavily on the partner category with this credit card, you will easily reach the fee waiver limit.
Disclaimer
We have obtained the information about this credit card from the Internet. For more information about this credit, you must visit its official website once. If there is any change in the card fees, rewards, or anything else, then CredBanking does not take any responsibility in this. will happen