SBI Cashback Credit Card Apply 2024 – Review, Details & Benefits – Cashback Credit Card: A cashback credit card in India has been recently launched by SBI Card. The new cashback-centric card seeks to boost the cashback system by offering a 5% reward on all online purchases without any merchant restrictions. 1% cashback is also offered on all offline purchases and utility bill payments.
Through the digital application platform “SBI Card Sprint“, customers in India can easily get cashback SBI cards in just a few clicks from the comfort of their homes. The contactless card is free for the first year till March 2023 as a special offer. Due to its strong cashback offer, SBI Card customers will get unlimited 1 percent cashback on all spends. Cashback will increase to 5 percent on all online spends up to a maximum of Rs 10,000 per monthly statement cycle.
Cashback on Credit Cards Cashback is not applicable on Rent Payment, Fuel Expenses, Wallet Load, Merchant EMI, Cash Advance, Balance Transfer, Encash and Flexipay.
SBI Cashback Credit Card Fees and Charges
| Joining Fee | NIL (First Year Free) |
| Annual Fee | Rs 999 plus taxes |
| Annual Fee Waiver | Rs 2 Lakhs spend in a membership year |
Cashback
| Purchase Type | Cashback |
|---|---|
| Online merchant spends | 5% |
| Offline spends and utility bill payments | 1% |
| Fuel, Wallet Loads, and Rent Payments | 0% – No Cashback |
Earned cashback will be automatically credited to the statement every month. There is no redemption fee.
The card is free till March 2023
According to SBI Card’s press release, ‘Cashback SBI Card customers will be able to earn unlimited 1% cashback. There will be a cashback of up to 5 percent on online shopping up to a maximum of Rs 10 thousand every month. This will ensure that customers are not restricted to shopping with just a few merchants to avail the benefits.
Cashback SBI Card comes with auto-credit of cashback facility, which allows automatic credit of cashback to SBI Card account within two days of statement generation.
Speaking at the launch, Ram Mohan Rao Amara, MD & CEO, SBI Card said, “Cashback SBI Card will further strengthen our core card portfolio. This product is a good example of our continuous efforts towards meeting the evolving needs of the customers. Throughout our various initiatives, we have carefully assessed cardholders’ affinity for online shopping and cashback. In line with this, we have consciously designed the Cashback SBI Card, which enables customers to avail cashback on every purchase, anytime and everywhere. The launch of this unique card is at an opportune time as customers can experience its power every day and make the most of it during the upcoming festive season.”
How to apply?
In this context, SBI Cards said in a press release that consumers across India, including Tier-II and Tier-III cities, offer ‘cash back credit’ from the comfort of their homes through the digital application platform ‘SBI Card Sprint‘. card can be applied for.
To Apply SBI Cashback Card Visit to the official website and click on Apply button, see below snapshot
My Last Word:
This new launch of SBI Card was quite shocking. For lovers of cashback, this is one of the best credit cards out there today. Combine this with Ace for utility bill payments and you will get 5% no-nonsense cashback on most of your expenses. No need to worry about all those points and miles if you don’t like them.
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Some FAQ’s on SBI Cashback Card
What is SBI Cash Back Card?
SBI Cards launched a ‘Cashback Credit Card’ which allows cardholders to avail 5% cashback on all online transactions without any merchant restrictions. Cash back is limited to a maximum of Rs 10,000 per monthly statement cycle
Is a Cash Back Card a Good Idea?
They can help you streamline your finances, earn rewards on spending, and take advantage of additional benefits not offered by debit cards. Since cash-back rewards are usually easier to understand than travel rewards, a cash-back card is also a good alternative to a first rewards credit card.
Is there any charge for cash back?
Merchants are generally not charged extra for providing cash back. Since cash back is offered only on debit card transactions, merchants are not liable for the same percentage of credit card transactions and there is no additional cost to pass on to the consumer.
What are the disadvantages of cash back?
Cash-back rewards cards have some drawbacks, including higher-than-usual APRs, waiting to access your cash-back funds, and a cap on how much you can earn each year. Plus, when it comes to travel rewards like airline miles, sometimes miles are worth more than cash.