SBI Cashback Credit Card - Welcome to the World of Amazing Cashback

 

The SBI Cashback Credit Card is designed to offer rewards in the form of cashback on everyday spending, making it an attractive choice for those who frequently shop online or use their card for regular transactions. Below are some key features of the SBI Cashback Credit Card:

Key Features:

1. Cashback on Online Spending:

   • 5% cashback on online purchases (excluding select categories such as utility bills, fuel, wallet recharges, and insurance).
   • 1% cashback on all other purchases (including in-store transactions).

2. Welcome Offer:

   • Upon successful issuance, you might get a welcome offer such as bonus reward points or an e-voucher, depending on the promotions at the time.

3. Annual Fee:

   • Typically, there is an annual fee of ₹999 + GST, which may be waived if you meet a minimum spending threshold in the previous year (often around ₹2 lakhs).

4. Fuel Surcharge Waiver:

   • 1% fuel surcharge waiver on transactions between ₹500 and ₹3,000 at all fuel stations across India (capped at ₹100 per billing cycle).

5. Milestone Benefits:

   • The card may offer milestone benefits, such as extra cashback or vouchers if you spend a certain amount annually.

6. International Usage:

   • It can be used internationally, but foreign transactions will typically incur a markup fee of around 3.5%.

7. EMI Options:

   • Flexibility to convert large purchases into EMIs (Equated Monthly Installments).

8. Online Services:

   • Cardholders have access to the SBI Card app and online portal for managing their accounts, making payments, checking statements, and tracking rewards.

   ELIGIBILITY CRITERIA
   Employment status: Salaried or Self-Employed
   Income: Rs 30,000 per month
   Required Age: 21-60 years
   Credit Score - 650+
   New to credit - Only for Salaried
   Credit Card holders are preferred
   No delay payments in last 12 months
   Card Holders should be an Indian Citizens or a Non Resident Indian
   

Pros:

• High cashback on online spending.
• Fuel surcharge waiver.
• Useful for frequent online shoppers.

Cons:

• Cashback categories are limited, and not all transactions qualify for the higher 5% rate.
• Annual fee may be high for low spenders.