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The Unraveling of SBI Cashback card

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HiDEaL
Applied (half hearted) in September. Idea was that it would have 5% CB + 10% Additional discounts.

The application was verified, then two months of silence. I already had 2 separate SBI CC. I received an SMS saying "application was unsuccessful".

Meanwhile, it was clear that SBI Cashback card was a complete spoil, as it suspends the 10% festive discounts.

My half-hearted willingness turned into a big "No" and thank God my application didn't go through.

This week, I got a call from SBI Exec, saying my card has been approved. They need a final telephonic verification of some kind.

I refused to verify. I got several more calls from them, all of which I ignored.

Now, a new card has popped into my SBI Card app, asking me to activate it.

I guess, SBI CASHBACK CARD has become an overhyped product that woefully underperformed. It has achieved a fraction of the market SBI assumed it would. That's why they are hurling this card at whoever they can.
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Benevolent Benevolent
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HiDEaL wrote:
In case, I choose to keep the card, can someone tell me how to best use SBI CASHBACK CARD? 1. Would Online Insurance payment generate 5% CB in any way? (via Amazon/mobikwkik or whatever) 2. How to dump this card even before activation?

Though SBI have let you down by not providing an unsustainable 15% discount, it’s actually quite a good card to have.

Read more when you decide to keep it https://www.desidime.com/discussions/sbi-cashba...

I remember similar desperate vents coming from people when hdfc stopped providing 33% CashBack on their Infinia and DCB via smartbuy. And you are talking about 15% 😳. Btw the first Amazon SBI sale (21st Sep) did give a hefty 15% for few days, I am sorry that your luck didn’t favour and you got the card late. 

Whenever there’s some unbelievable offers running be assured that it won’t last long. Even today what SBI CashBack card is giving, is bound to get limited fast in near future, so it’s your choice to use it or not, anyways you are not paying anything for the first year.

Benevolent Benevolent
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I will try to give some examples of usage for the points raised by @DEALSTER 

* I pay quite a lot education fees. SBI is giving 5% for that.

* In past few years I haven't got a good offer on Lenskart for contact lenses, felt nice to get 5%.

* Paid hosting charges in USD, generally I look for card with lowest forex charges, this time SBI CC with this forex charges trumped over the others due to its 5% CB.

* Needed car Tyre change recently, shopkeeper said he can make a online payable bill for me. sweet 5%.

* Needed to pay for a Hotel directly from their site, it was quite higher via MMT or others, even with discount I was paying way more. SBI CB 5% was helpful.

Can go on with such necessities without any offer in past 2 months (OTT renewals, GVs from Paytm, competitive exam payments etc etc...)

Its really nice when there's a 6%+ CB .. I won't use SBI card, why would a dimer do so.
The point is there are times when I can't find any offers.. SBI CB kicks in, I used to use my Infinia/ Axis FK for these cases, but 5% is trumping over them. For the first year this is total profit. Now if I do 20k from next year, I have at least already got my annual fees back.

You might want to say that these are something which other Dimers won't do, but I beg to differ, all will have their use cases when they won't get any offers and falling back to SBI CB will help.

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I dnt knw why people hate this card so much, it is such a useful card, it gives 5% cashback without any efforts, be it zomato, amazon, flipkart, nykaa or brand specific websites ( i prefer purchasing directly from their websites ) like van huesen, peter england, I am assured a 5% cashback for every txn. 

I use skyscanner for flights and the prices they offer doesnt accept any further card or coupon discount neither affiliate websites track it, here sbi cashback cad comes handy and I am assured 5% cashback anyway.

it has become my goto card for all the txns online, I have stopped using amazon pay card ( bcz cashback comes in pay balance) and also flipkart axis card which gives 4% on uber and other associated merchants but sbi card is best among them.

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DEALSTER wrote:
do you know Tata Cliq, Big Basket always have other bank offers greater than 5%? Specially bigbasket, you can buy a GV at 5% off and use tata neu for another 5% back. SBI card as i understand doesnt give CB on gift cards. Whereas if bought via amazon, you can get upto 5% back via the apay card.
If you are not utilizing these offers you are basically loosing out on better benifits by using the SBI card. 
Agreed 100%
It's a good-for-nothing card.
Particularly, so after scrapping the usual festive offers.

Just utilise the FYF, and dump.
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DEALSTER wrote:
do you know Tata Cliq, Big Basket always have other bank offers greater than 5%? Specially bigbasket, you can buy a GV at 5% off and use tata neu for another 5% back. SBI card as i understand doesnt give CB on gift cards. Whereas if bought via amazon, you can get upto 5% back via the apay card.
If you are not utilizing these offers you are basically loosing out on better benifits by using the SBI card. 

You can use the SBI Cashback card on Tata Neu for Big Basket and get 10%. I do use Airtel Axis for 10% on Big Basket but after its limit is exhausted, I use SBI. Similarly, I can get 20% off using Indusind Exclusive and 10% off using various other bank cards I have on Big Basket but you need minimum 1500 to 2500 bill. So once or twice a month, I use these offers but for daily 300 to 400 Rs stuff I order, nothing beats SBI plus Tata Neu where you get 10% without hassle. Like I said, this is the absolute best card ever. If I had to choose, I would give up all other cards for it. Getting a flat 5% in direct cash on any website is unmatched. Even top cards like Infinia don't come close to it.

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DEALSTER wrote:

if you are settling for Skyscanner fares, you are really missing out on multiple bank offer. Do check on other websites for bank offer and senior citizen fares, if applicable. Whatever cashback you might have amassed via SBI for flight tickets will never match the upfront discount you get with bank offers. Its useful if you do not have any other offer available but that's rarely the case. On flipkart you can get better offers with upfront discount + 5% CB with FK axis card. On top of it one has to consider the 1k fee as well. 

Just a piece of advice- do compare prices before purchasing apparels directly. They are generally overpriced on their official websites. 

Could you please provide some examples of these bank offers on flights? Normally nothing beats the price found via Google Flights or Skyscanner along with booking via the airline or some website shown there. If I book 2 tickets to the US worth say 1.5 lakhs, I would get 7.5k cashback on SBI. Impossible to beat.

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Lobogris wrote:

Could you please provide some examples of these bank offers on flights? Normally nothing beats the price found via Google Flights or Skyscanner along with booking via the airline or some website shown there. If I book 2 tickets to the US worth say 1.5 lakhs, I would get 7.5k cashback on SBI. Impossible to beat.

Just open paytm for example and check. They have offers for everyday of the week with different cards. It obviously keeps changing. If you booked the tickets via flpkart or cleartrip you would have got the same CB via FK axis along with additional discounts without any annual fee on top. My suggestion is to always compare instead of trusting these fares blindly. 

For BB- you get 5% discount on voucher + 5% apay CB + 5% tata neu CB. Why do you need SBI card in this case and pay a fee as well?

PS- i do not have much idea about international flights. My observation is mainly for domestic travel. 

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DEALSTER wrote:

Just open paytm for example and check. They have offers for everyday of the week with different cards. It obviously keeps changing. If you booked the tickets via flpkart or cleartrip you would have got the same CB via FK axis along with additional discounts without any annual fee on top. My suggestion is to always compare instead of trusting these fares blindly. 

For BB- you get 5% discount on voucher + 5% apay CB + 5% tata neu CB. Why do you need SBI card in this case and pay a fee as well?

PS- i do not have much idea about international flights. My observation is mainly for domestic travel. 

You are just not understanding the beauty of this card. Let’s say you search for a flight on Paytm, Amazon, MMT etc and then find that it is cheaper even after discounts on some other site like Agoda or directly with the airline. Now you can use this card and get 5% direct cashback. Complete flexibility. You can even pay on Paytm with it for your flight if needed. On Big Basket, if you buy a voucher then how would you get 5% Neu coins? You would have to pay via wallet. Using Apay card to buy the voucher will give you 2% cashback, not 5%.  Here, with this card, you can directly get 10% via Neu without having to worry about buying a voucher and adding it each time, Once again, complete flexibility. You can buy from Big Basket or anywhere else. You are not locked in by buying a voucher. There is no need to pay any fee as you can easily cross 2 lakhs per year. Every month I am getting around 1k cashback on it. It is totally worth it even if I had to pay the annual fee. 
You buy medicine from Apollo or 1MG or Pharmeasy or anywhere online. Check the prices and offers and choose. 5% cashback! Buy medicine for 2k and get 100 actual cashback on top of other discounts. You need an MRI and book via Labadvisor and any other place. Pay 7k. Get 350 cashback! Again total flexibility. Book from anywhere you like. Amazing.

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Lobogris wrote:

You are just not understanding the beauty of this card. Let’s say you search for a flight on Paytm, Amazon, MMT etc and then find that it is cheaper even after discounts on some other site like Agoda or directly with the airline. Now you can use this card and get 5% direct cashback. Complete flexibility. You can even pay on Paytm with it for your flight if needed. On Big Basket, if you buy a voucher then how would you get 5% Neu coins? You would have to pay via wallet. Using Apay card to buy the voucher will give you 2% cashback, not 5%.  Here, with this card, you can directly get 10% via Neu without having to worry about buying a voucher and adding it each time, Once again, complete flexibility. You can buy from Big Basket or anywhere else. You are not locked in by buying a voucher. There is no need to pay any fee as you can easily cross 2 lakhs per year. Every month I am getting around 1k cashback on it. It is totally worth it even if I had to pay the annual fee. 
You buy medicine from Apollo or 1MG or Pharmeasy or anywhere online. Check the prices and offers and choose. 5% cashback! Buy medicine for 2k and get 100 actual cashback on top of other discounts. You need an MRI and book via Labadvisor and any other place. Pay 7k. Get 350 cashback! Again total flexibility. Book from anywhere you like. Amazing.





Bhai!!


Flights - can you please show me an example where domestic flight prices are different on various sites and where you get it cheaper on some site even without bank discounts?


Bigbasket - you can use the wallet balance via tata neu and still get the coins. 2% with apay card is correct, I was mistaken.


Medicine - There is always a bank discount!! yesterday I got 20% off via kotak on 1mg after 20% MRP discount. same is true on pharmeasy with AU/ICIC/HDFC. Why would I use this card in that case?


I cannot imagine spending 2 lacs with a SBI card just for cashback when i have cards from all major banks which are LTF and offer at least 10% discount depending on the bank offer. 


Its good that you are happy with this card but please try out other banks as well and see if you save more. An instant discount is always higher than a frugal cashback with multiple terms attached to it. I would never use a single card blindly to shop online. 



Benevolent Benevolent
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jhonbaba wrote:
How can I divide the limit of my first SBI cc with SBI Cashback CC. Since I got only 10k. TIA.
Just call SBI customer support and request for the limit transfer to SBI CB card from your first SBI CC. Took 5 mins for me, though they told it will take 1-2 working days.
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DEALSTER wrote:





Bhai!!


Flights - can you please show me an example where domestic flight prices are different on various sites and where you get it cheaper on some site even without bank discounts?


Bigbasket - you can use the wallet balance via tata neu and still get the coins. 2% with apay card is correct, I was mistaken.


Medicine - There is always a bank discount!! yesterday I got 20% off via kotak on 1mg after 20% MRP discount. same is true on pharmeasy with AU/ICIC/HDFC. Why would I use this card in that case?


I cannot imagine spending 2 lacs with a SBI card just for cashback when i have cards from all major banks which are LTF and offer at least 10% discount depending on the bank offer. 


Its good that you are happy with this card but please try out other banks as well and see if you save more. An instant discount is always higher than a frugal cashback with multiple terms attached to it. I would never use a single card blindly to shop online. 



As I have already said, I have and use several other cards as well but overall SBI Cashback is the absolute best.

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Lobogris wrote:

As I have already said, I have and use several other cards as well but overall SBI Cashback is the absolute best.

don't get me wrong, i too wanted to take it but the fee is a spoiler and i am trying to understand from others how are they actually benefitting. 


So you said, you are getting minimum 1k cashback every month. That means you must be spending at least 20k only via this card every month. May be my spending is way less to actually benefit from this card. I hardly ever get 20k bill from any single card apart from the GIF,BBD (where bank offers are more beneficial) etc or once a year insurance payment. 

Benevolent Benevolent
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I will try to give some examples of usage for the points raised by @DEALSTER 

* I pay quite a lot education fees. SBI is giving 5% for that.

* In past few years I haven't got a good offer on Lenskart for contact lenses, felt nice to get 5%.

* Paid hosting charges in USD, generally I look for card with lowest forex charges, this time SBI CC with this forex charges trumped over the others due to its 5% CB.

* Needed car Tyre change recently, shopkeeper said he can make a online payable bill for me. sweet 5%.

* Needed to pay for a Hotel directly from their site, it was quite higher via MMT or others, even with discount I was paying way more. SBI CB 5% was helpful.

Can go on with such necessities without any offer in past 2 months (OTT renewals, GVs from Paytm, competitive exam payments etc etc...)

Its really nice when there's a 6%+ CB .. I won't use SBI card, why would a dimer do so.
The point is there are times when I can't find any offers.. SBI CB kicks in, I used to use my Infinia/ Axis FK for these cases, but 5% is trumping over them. For the first year this is total profit. Now if I do 20k from next year, I have at least already got my annual fees back.

You might want to say that these are something which other Dimers won't do, but I beg to differ, all will have their use cases when they won't get any offers and falling back to SBI CB will help.

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DEALSTER wrote:





Bhai!!


Flights - can you please show me an example where domestic flight prices are different on various sites and where you get it cheaper on some site even without bank discounts?


Bigbasket - you can use the wallet balance via tata neu and still get the coins. 2% with apay card is correct, I was mistaken.


Medicine - There is always a bank discount!! yesterday I got 20% off via kotak on 1mg after 20% MRP discount. same is true on pharmeasy with AU/ICIC/HDFC. Why would I use this card in that case?


I cannot imagine spending 2 lacs with a SBI card just for cashback when i have cards from all major banks which are LTF and offer at least 10% discount depending on the bank offer. 


Its good that you are happy with this card but please try out other banks as well and see if you save more. An instant discount is always higher than a frugal cashback with multiple terms attached to it. I would never use a single card blindly to shop online. 



I think there is some confusion. 1MG has no Kotak 20% off deal for payment. What you are talking about is a specific coupon code. If you use that then you can’t use other 20 to 25% off coupons including the Circle membership discount. So with SBI you can use the best possible discount coupon and then get 5% cashback. 
With flights, like I said, just check on Google Flights and it will list the cheapest booking option, as one example. Sometimes it is directly from the airline. Once again, you have the flexibility to book from anywhere and get the 5% discount. You can’t beat that with ANY other offer.
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HiDEaL wrote:
Exactly.

Most people have suggested buying GC to pay insurance premium.

But, GCs are categorically excluded from any cashback under the TnC of SBI Cashback card.

So, what's the point of keeping this trashback card?

My LTF cards like FK-Ax, amz-ICICI can do better job than this card.
i cannot see GCs mentioned in terms and conditions (Used search function) can you point me towards it?
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DEALSTER wrote:

don't get me wrong, i too wanted to take it but the fee is a spoiler and i am trying to understand from others how are they actually benefitting. 


So you said, you are getting minimum 1k cashback every month. That means you must be spending at least 20k only via this card every month. May be my spending is way less to actually benefit from this card. I hardly ever get 20k bill from any single card apart from the GIF,BBD (where bank offers are more beneficial) etc or once a year insurance payment. 

My spending is between 1 to 5 lakhs per month on cards and sometimes more depending on what is going on. So spending 20k per month on SBI is a non issue. There are so many options for doing so. Just imagine dining out and paying via Dineout. You can do it a few times a week and that could be 1 to 2k per week easily. I am talking about a simple meal costing say 500 to 600 for 2 people and you pay via Dineout to get 15% to 20% discount and use the SBI card and get 5% further cashback. Nothing beats that. What you fail to appreciate is that this one card gives you 5% everywhere. I can even use it on Amazon if I needed help meeting the 2 lakh quota.
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Lobogris wrote:
I think there is some confusion. 1MG has no Kotak 20% off deal for payment. What you are talking about is a specific coupon code. If you use that then you can’t use other 20 to 25% off coupons including the Circle membership discount. So with SBI you can use the best possible discount coupon and then get 5% cashback. 
With flights, like I said, just check on Google Flights and it will list the cheapest booking option, as one example. Sometimes it is directly from the airline. Once again, you have the flexibility to book from anywhere and get the 5% discount. You can’t beat that with ANY other offer.

You need to check for offers properly. Kotak offer is there every Wednesday without code. And anywhere I make a payment i generally get such offers which are better than a 5% CB. 

As I said, I may not be a heavy spender to get maximum benefit out of it. I never ever eat out twice a week 😉

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DEALSTER wrote:

You need to check for offers properly. Kotak offer is there every Wednesday without code. And anywhere I make a payment i generally get such offers which are better than a 5% CB. 

As I said, I may not be a heavy spender to get maximum benefit out of it. I never ever eat out twice a week 😉

Show me one in a screenshot. I have never seen one. In any case, better to have an always available and reliable 5% anywhere, any day, any website. 

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DEALSTER wrote:

You need to check for offers properly. Kotak offer is there every Wednesday without code. And anywhere I make a payment i generally get such offers which are better than a 5% CB. 

As I said, I may not be a heavy spender to get maximum benefit out of it. I never ever eat out twice a week 😉

You never eat out?

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Lobogris wrote:

Show me one in a screenshot. I have never seen one. In any case, better to have an always available and reliable 5% anywhere, any day, any website. 

not much. And never twice a week. Here is a screenshot some amount was also paid via neu coins so a proper calculation wont work, but you should get the picture. . Do check for discount always. 

https://www.kotak.com/en/offers/offer-details/1...

image

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DEALSTER wrote:

not much. And never twice a week. Here is a screenshot some amount was also paid via neu coins so a proper calculation wont work, but you should get the picture. . Do check for discount always. 

https://www.kotak.com/en/offers/offer-details/1...

image

Ok. See, these are temporary offers. Like one bank for a few months and then another. That you can find everywhere. What will you do when it is no longer Kotak but another card you don't have? However SBI is evergreen, everywhere. What if this medicine was 300 Rs more expensive on 1MG than say Apollo pharmacy? What if you need it urgently on a Thursday? What if you have already used this Kotak coupon and need something else? No worries with SBI. Buy from anywhere, any day and get 5% direct cashback  If we go around looking for rare exemptions then practically we can find something better in any possible transaction. However no other card even comes close to the reach and flexibility provided by SBI Cashback card. No hassle, no specific days, websites or restrictions. 

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Lobogris wrote:

Ok. See, these are temporary offers. Like one bank for a few months and then another. That you can find everywhere. What will you do when it is no longer Kotak but another card you don't have? However SBI is evergreen, everywhere. What if this medicine was 300 Rs more expensive on 1MG than say Apollo pharmacy? What if you need it urgently on a Thursday? What if you have already used this Kotak coupon and need something else? No worries with SBI. Buy from anywhere, any day and get 5% direct cashback  If we go around looking for rare exemptions then practically we can find something better in any possible transaction. However no other card even comes close to the reach and flexibility provided by SBI Cashback card. No hassle, no specific days, websites or restrictions. 

It seems all your purchases are always spontaneous. I always plan and buy to get the maximum benifit. Especially expensive meds for my parents. MRP of all meds are same everywhere. So they can't be listed at different prices. It's the running offer that matters. Good that it works for you but I am bale to get better benefits with multiple bank cards. To each his own 😊

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@Lobogris i am still contemplating whether to get it or not. I am analyzing my spends to see if i can offset the annual fee and still make a gain, while still utilizing all bank offers and using this only when there aren't any. Surprisingly in November all my credit card spends were made with bank offers. I will keep analyzing and see. The major use will be in  paying insurance bills which might go above 1 lac, but for that this card has to give 5% CB on amazon GV purchase continuously. 


PS - i left my application incomplete just hoping that SBI would call me and offer it as LTF. I know i am just day-dreaming 😂

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DEALSTER wrote:

PS - i left my application incomplete just hoping that SBI would call me and offer it as LTF. I know i am just day-dreaming 😂

i dont think anyone has got that card as an LTF.
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cofeewithrushab860 wrote:
i dont think anyone has got that card as an LTF.
I am pretty sure I wont either. I am just hoping. 
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