SBI Cash Back Credit Card - Is it Still the Best Beginners Credit Card?

[ShavirB]

SBI Cash Back Credit Card was launched in Sep 2022, and soon after its launch it quickly became one of the best beginner credit cards with 5% cashback on online spends. SBI even waived Joining Fees of Rs. 999 + GST making it a no brainer for all credit card enthusiasts..

Looking at the popularity, SBI quickly realized the blunder they had made by offering it as Free First Year, and soon started levying Joining Fees. Even after levying Joining Fees the interest in that card did not stop and in 2023 SBI had to temporarily stop issuing it twice due to extremely high demand.

But somewhere in 2023, SBI realized that they could be making way more money with this Credit Card and soon started introducing different charges and cutting down on Cashbacks. SBI added transaction fees for rent, EMI payments and a bunch of other categories. They even reduced the maximum cashback cap from Rs. 10,000 to Rs. 5,000 per month, which honestly is still good for folks spending Rs. 1 lakh per month.

SBI even removed cashback from a few categories like Utilities, Jewelry, School and Education, Insurance, Railways, etc. If this was not enough, they cut down on complimentary domestic airport lounge access. This change was slightly significant since a user paying Rs. 1000 Annual Fees for a Credit Card would expect complimentary lounge access with their Card.

Now, I understand there are very few beginners cards out there offering 5% cashback for almost all your spends. But after all these changes, is SBI Cash Back Credit Card still the best beginners Credit Card out there?

Would love to know your thoughts and opinions?

 

[zacobite]

SBI Cash Back Credit Card was launched in Sep 2022, and soon after its launch it quickly became one of the best beginner credit cards with 5% cashback on online spends. SBI even waived Joining Fees of Rs. 999 + GST making it a no brainer for all credit card enthusiasts..

Looking at the popularity, SBI quickly realized the blunder they had made by offering it as Free First Year, and soon started levying Joining Fees. Even after levying Joining Fees the interest in that card did not stop and in 2023 SBI had to temporarily stop issuing it twice due to extremely high demand.

But somewhere in 2023, SBI realized that they could be making way more money with this Credit Card and soon started introducing different charges and cutting down on Cashbacks. SBI added transaction fees for rent, EMI payments and a bunch of other categories. They even reduced the maximum cashback cap from Rs. 10,000 to Rs. 5,000 per month, which honestly is still good for folks spending Rs. 1 lakh per month.

SBI even removed cashback from a few categories like Utilities, Jewelry, School and Education, Insurance, Railways, etc. If this was not enough, they cut down on complimentary domestic airport lounge access. This change was slightly significant since a user paying Rs. 1000 Annual Fees for a Credit Card would expect complimentary lounge access with their Card.

Now, I understand there are very few beginners cards out there offering 5% cashback for almost all your spends. But after all these changes, is SBI Cash Back Credit Card still the best beginners Credit Card out there?

Would love to know your thoughts and opinions?

its hardly a beginner's card.. not easily issued.. and not very high on returns for low spenders considering the exclusions.. iys actually a semi-premium card.. would not call it beginner or entry level for sure.. but a great card to have

 

[Nndutta]

I use this card last 1.5 year. When apply instant approved but get only 20000 limit.
That time this card not 1st year free only annual fee. 1st year i don't spend 2 lac for annual fee waver because card limit too low for this spend. They charge 1200 as annual fee i contact sbi castomar care for make lifetime free but they reverse my annual fee with gst. This card is kind of LTF for me. They said you get LTF this card after 3 year, 2 year you get reverse annual fee.

As of now my limit is same not get any limit increase offer form bank.

It is best cashback credit card because i get 10000 rupees cashback as of now.

I have axis ace credit card also that card is heavy devalue over the time. But worth.