SBI Cashback Credit Card: Earn Rewards on Every Purchase
Looking for a credit card that rewards your everyday spending? The SBI Cashback Credit Card might be a good fit. This card offers cashback on both online and offline purchases, making it a versatile option for various spending habits. Let’s delve into the key features and application process of this card.
Benefits and Features
- Cashback rewards: This card boasts a 5% cashback on all online spends, with no restrictions on merchants. For offline purchases, you earn a 1% cashback. It’s important to note that cashback is not applicable on certain categories like utility bills, insurance, fuel, and rent. You can find a complete list of exclusions on the SBI Card website.
- Annual fee waiver: The card comes with a joining fee of Rs. 999 and a renewal fee of Rs. 999 per year. However, the annual fee is waived off if you spend Rs. 2 lakhs or more in a year, making it potentially fee-free for frequent users.
- Other benefits: The SBI Cashback Credit Card offers other benefits like complimentary accident insurance coverage, purchase protection, and access to exclusive discounts and offers from partnered merchants.
Eligibility and Application Process
To be eligible for the SBI Cashback Credit Card, you must:
- Be between 18 and 70 years old.
- Have a good credit score (generally above 750).
- Meet the minimum income criteria set by SBI Card.
Applying for the SBI Cashback Credit Card is a simple process:
- Visit the SBI Card website: Go to the SBI Card website and navigate to the “Credit Cards” section.
- Choose the Cashback SBI Card: Select the “Cashback SBI Card” option and click on “Apply Now.”
- Fill out the online application form: Enter your personal details, employment information, and income details.
- Submit the application: Once you’ve reviewed and confirmed the information, submit the application form.
- Verification and approval: SBI Card will verify your details and assess your eligibility. You will receive a notification regarding the approval status of your application.
If your application is approved, you will receive your SBI Cashback Credit Card within a few days.
Things to Consider Before Applying
Before applying for the SBI Cashback Credit Card, consider the following:
- Annual fee: While the annual fee can be waived off, ensure you spend enough to meet the annual spending requirement to avoid it.
- Cashback exclusions: Be aware of the categories where cashback is not applicable to avoid any surprises.
- Interest rates: Like all credit cards, the SBI Cashback Credit Card also charges interest on unpaid balances. Ensure you can manage your repayments effectively to avoid high-interest charges.
By considering these points, you can make an informed decision about whether the SBI Cashback Credit Card is the right fit for your needs.
