SBI Cashback Credit Card: From Eligibility Criteria to Features & Benefits

[arjungoyal12]

SBI Cashback Card is like a money-saving friend that makes every swipe of your card count. This card offered by SBI Cards, as the name suggests, offers cashback on every purchase. Tracking and redeeming points is a simple process.

Let's analyze the important points​

Features and Benefits of SBI Cashback Credit Card​

Cashback Magic​

• Get up to 5% cashback on online spending.
• Enjoy 1% cash back on offline purchases.
• Your cashback is automatically credited to your account with no extra steps.

Annual Charges:​

• There's an annual fee of Rs. 999, but here's the cool part – spend Rs. 2 Lakhs or more in the previous year, and it's waived!

Maximum Cashback:​

• You can earn a maximum of Rs. 5,000 cashback in a single statement cycle. Sweet deal!

Fuel Surcharge Waiver:​

• Say goodbye to some fuel charges! Get a 1% waiver on fuel transactions between Rs. 500 and Rs. 3,000 at petrol pumps.

Redemption:​

• Your earned cash back is like a gift that keeps giving – automatically credited to your next month's statement.

Extra Perks:​

• Get up to 2 add-on cards for your loved ones for free.
• Quick and easy payments for transactions below Rs. 5,000 with contactless technology.

Cashback Calculation Made Simple:​

You spend Rs. 90,000 online (eligible for 5% cashback) and Rs. 60,000 offline (eligible for 1% cashback).

• Online cashback: 5% of Rs. 90,000 = Rs. 4,500
• Offline cashback: 1% of Rs. 60,000 = Rs. 600
• Even though the total is Rs. 5,100, you get Rs. 5,000 max due to the cashback cap.

Annual Fee Waiver:​

Spend Rs. 2 Lakhs or more in the last year, and you won't have to worry about that Rs. 999 annual fee because then you don’t have to pay it. It's like a reward for using your card and is a very beneficial step.

How to Get SBI Cashback Credit Card?​

You can apply from the SBI website and follow the steps. Or, if you prefer the old-school way, visit your nearby SBI branch and fill in the application form.

Similar Cards to Explore:​

1. Axis Bank Ace Credit Card: Offers cool cashback on utility bills and partner merchants like Ola, Zomato, and more.
2. HDFC Bank Millennia Credit Card: Perfect for the younger crowd, with cashback on fitness, entertainment, and dining.
3. SBI SimplyClick Credit Card: Ideal for beginners, giving rewards on online spending and even a welcome bonus.

Bottomline​

The SBI Cashback Card is your go-to for easy and instant savings. With straightforward cashback rates, fee waivers, and extra perks, it's a great starting point for anyone wanting to make the most out of their purchases. You can give it a go and might see your savings grow.
Overall I would like to give this card a solid 4/5.

 

[ShavirB]

This is still one of the best beginner credit cards out there. Gives maximum bang for your buck

 

[17ysaurabh]

In my opinion, SBI Cashback CC is a great credit card.
But, we should use it only till Rs. 1 lakh to get Rs. 5000 cashback (5% cashback) per month.

 

[ShavirB]

In my opinion, SBI Cashback CC is a great credit card.
But, we should use it only till Rs. 1 lakh to get Rs. 5000 cashback (5% cashback).
Even if you deduct the joining fees of Rs. 999, it still leaves Rs. 4000.

PS: Using this credit card for over Rs. 2 lakhs to get its annual fees waived doesn't make sense.

Correct, I feel this limit of 1 Lakh per month is quite decent for an average credit card user. Also, this 2 Lakh limit for fees waiver is annual (not monthly) - so even if you make spends worth 20k per month using this card, your fees of 999 will be waived off.