Cashback SBI Card excluded from all the offers
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Recently launched Cashback SBI card is excluded from all the ongoing sales. Its now just like other co-branded cards. For reference see the snap below for FLIPKART, JIO MART and TANISHQ. While all other SBI cards are eligible only CASHBACK SBI card and PAYTM SBI card are excluded. You would still earn default 5% cashback. With this I feel this card is out of competition with Amazon Pay and Flipkart Axis Bank Card. What are your thoughts on this?
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It's a good card, if it don't get devalued. But brands should consider 5%+5% for this card
This must be the fastest devaluation in the history of credit cards
Just asking out of curiosity, how much do you spend outside the major retailers (like Amazon, FK, Tata Neu, Swiggy, Zomato, etc, which have better, often LTF options available) and where do you use this card that makes this card genuinely better than the rest of the competition? Does it give 5% for bill payment and insurance? I'm trying to think of other sites - maybe pharmeasy, lenskart, meesho? But even those sites have 10% discount bank offers for big spends time to time. Or do you use this card just for small spends like below 1000? Anyone who use this card can feel free to answer
True.. who gives 5% for all regular transactions? Only sbi
Whoever designed this card (digital art) must have thought about backtracking and devaluation in advance to respect the design language...
Ever seen if someone inserts it into the POS machine (notice the chip side), the letters are reverse? It's not that the billing staff would read the card the right way, it's because the customers should expect reversal of offers/benefits and slow and steady devaluation... things leaving the cardholder away! ulta ulta ulta!
As many have said, this card is really good for non sale online spends. But I do have some reservations about this card. The first one is that you will need another SBI CC for the bank offers, so ideally you need this card plus another SBI card. But SBI doesn't provide LTF cards normally, so you have to pay annual fee for two cards or use the SBI cards for most of your spending to meet the fee waiver spend limit. Not being able to use the card in sales makes it very difficult to achieve the fee waiver IMO.
Also I'm not sure how much people spend outside major platforms like Amazon, Flipkart, myntra, tata neu, swiggy and zomato. Most places have better offers than 5% CB through various bank or wallet offers. Tata neu HDFC cards give 10% discount on sales plus extra 2-5% extra neu coins plus can be used in all other HDFC offers (for now at least). If you do shop a lot outside the major online stores, I guess this card is useful, but I don't see this card being very useful now as it's been removed from all sales.
IMO HDFC Millenia is still a very good option, especially as it's LTF for many people, provides 5% CB on most of the big sites, has lots of spend based offers and gives 1000 voucher per quarter on 1 lakh spends. Also special mention to FK Axis card, got it LTF, gave me 10% discount + 5% CB last BBD l, 8% discount + 5% CB this BBD and 10% discount + 5% CB multiple times on myntra which is an absolutely fantastic return.
Devaluation was coming. I thought they will give regular 1% cashback with SBI offers but they removed the idea altogether. So one NEEDS another SBI card.
Off topic but i recently learnt the hard way that Diners cards are not eligible for HDFC Bank offers :/
Case in point is the current Myntra offer
SBI cashback card is really great even if its excluded from 10% offers.
I have amazon icici and fk axis both, yet I would like to iterate that SBI CB card is quite useful.
I don't have any needs to rotate money, so I beg to differ whoever thinks this card is for the dimers who like to rotate money.
A bulk of my spends on it are education payments, insurance/ Utility payments via amazon.
Previously I used to search for offers on my cards on online shopping sites where I am not regular on like Ajio, Lenskart, Myntra etc.. now I don't search offers for the small purchases I ocassionally do.
Till SBI Cashback card is devalued a lot.. keep using it.
I guess the major use is buying amazon gv and using it to pay bills. Other than that's its pretty much useless. But you can easily buy Amazon gv for 2.5 to 3% discount on DD itself. So the cashback card gives a net profit of 2.5 - 3%. And there is always Axis Ace which gives 5% for bill payments, can be used for sales plus gives 2% CB on all online and offline transactions.
"now I don't search offers for the small purchases I ocassionally do" - not worth having a card with 1100+ renewal fee if you just use it for occasional small purchases from small websites IMO. It might be useful for you or some others who have do transactions outside major retailers, but I don't see how useful this card is for the majority of the people.
For Offline purchases, Axis Ace gives probably one of the best returns @ 2%. Very few cards (diners black, inifinia, scb ultimate, etc) come close but they dont give cb, rather rp. I value 2% cb more than 3.3% rp any day.
Now here's the trick card companies play.
SBI: I have Simplyclick (fees 499+), Applied for Cashback (approved, not yet received)
Cashback card not allowed for 10% discount during sales. So need another card during sale. Got 10K spend limit which is hillarious. I recieved 15K as spend limit on my first Kotak Card (closed) 12 years back which was the lowest till this card. Will see how it works over the next year before renewal. 99% sure will close this card.
I will keep the Simplyclick card though, even if I have to pay as many family members buy groceries/mobiles during sales and need it.
Axis: Ace (fees 500+) FK Axis (LTF)
Ace gives 2% cb even offline which is for me the best feature. 5% cb for bills do not fetch more than 60-70rs/month for me which is negligible. But according to my usage, cant reach 2L on this card.Since I have FK axis which gives 1.5% cb, it can easily cover the difference of .5% via the fees for ACE. Problem is again sale. FK Axis is not allowed on major websites during sales for Axis.I have applied for myzone LTF which is stuck in processing for over a month now. If I get that, I will close ace card. Otherwise wait another few months to see usage.
ICICI: Amazon Pay (LTF)No use outside Amazon. Not allowed during sales on any website. Only amazon has some extra discounts like FK Axis during big sales.
Each card company is playing with our mindset by launching complicated and limited cards so that we have to take more than cards. SBI is becoming the worst as it does not give accelerated rps during any sale, but will sure deduct accelerated rps for any returns. SBI also has severely limited reward earning capacity on almost all cards.
I am slowly closing all paid cards, redirecting my personal expenses to 1-2 cards per month. Too many cards, too much headache to track all offers, due dates, rewards/cb credit.
At least they should have given sale discount for 1-2 years😁