SBI v. SBI
If you are looking for a credit card that offers cashback or rewards on online shopping, you might be interested in comparing the SBI Cashback Credit Card and the SBI Simply Click Credit Card. These are two popular products from SBI Card, one of the leading credit card issuers in India. In this blog post, we will review the features, benefits, fees and charges of these two cards and help you decide which one suits your needs better.
SBI Cashback Credit Card
The SBI Cashback Credit Card is designed for customers who want to save money on their everyday purchases. The card offers 5% cashback on grocery, departmental store and fuel spends, up to Rs. 100 per month. The card also offers 1% cashback on all other spends, with no maximum limit. The cashback is credited to your card account every month and can be redeemed against your outstanding balance.
The card also comes with some additional benefits, such as:
Welcome gift of Rs. 500 cashback on spending Rs. 2,000 or more within the first 60 days of card issuance.
Annual fee reversal on spending Rs. 90,000 or more in a year.
Fuel surcharge waiver of 1% on transactions between Rs. 500 and Rs. 3,000, up to Rs. 100 per month.
Zero liability on lost card, if reported within 24 hours.
Access to over 1,000 airport lounges worldwide with Priority Pass membership (subject to a nominal fee).
The SBI Cashback Credit Card has an annual fee of Rs. 499, which is waived off if you spend Rs. 90,000 or more in a year. The interest rate on this card is 3.35% per month or 40.2% per annum.
SBI Simply Click Credit Card
The SBI Simply Click Credit Card is designed for customers who shop online frequently and want to earn rewards for their spending. The card offers 10X reward points on online spends with exclusive partners such as Amazon, BookMyShow, Cleartrip, Lenskart and Netmeds. The card also offers 5X reward points on all other online spends and 1 reward point per Rs. 100 on all other spends. The reward points can be redeemed for gift vouchers from various brands or converted to cash.The card also comes with some additional benefits, such as:
Welcome gift of Amazon gift voucher worth Rs. 500 on spending Rs. 2,000 or more within the first 60 days of card issuance.
Milestone rewards of e-vouchers worth Rs. 2,000 each on annual online spends of Rs. 1 lakh and Rs. 2 lakhs.
Annual fee reversal on spending Rs. 1 lakh or more in a year.
Fuel surcharge waiver of 1% on transactions between Rs. 500 and Rs. 3,000, up to Rs. 100 per month.
Zero liability on lost card, if reported within 24 hours.
Access to over 1,000 airport lounges worldwide with Priority Pass membership (subject to a nominal fee).
The SBI Simply Click Credit Card has an annual fee of Rs. 499, which is waived off if you spend Rs. 1 lakh or more in a year. The interest rate on this card is 3.35% per month or 40.2% per annum.
Comparison
To compare the two cards, let us look at some scenarios based on different spending patterns and preferences.
Scenario 1: You spend Rs. 10,000 per month on grocery, departmental store and fuel and Rs. 5,000 per month on other online shopping.
In this case, the SBI Cashback Credit Card will give you a cashback of Rs. (500 x 5%) + (5,000 x 1%) = Rs. 300 per month or Rs. 3,600 per year.
The SBI Simply Click Credit Card will give you reward points of (5,000 x 10) + (5,000 x 5) + (10,000 x 1) = 10,000 points per month or 120,000 points per year. Assuming you redeem these points for cash at the rate of Rs. 0.25 per point, you will get a cashback of Rs. (120,000 x 0.25) = Rs. 30,000 per year.
Clearly, the SBI Simply Click Credit Card is a better option for this scenario.
Scenario 2: You spend Rs. 15,000 per month on online shopping with exclusive partners and Rs. 10,000 per month on other online shopping.
Scenario 3: You spend Rs. 20,000 per month on online shopping with exclusive partners and Rs. 5,000 per month on other online shopping.
Conclusion
Based on the above comparison, we can conclude that the SBI Simply Click Credit Card is a better choice for customers who shop online frequently and want to earn rewards for their spending. The card offers higher reward points on online spends with exclusive partners and other online spends as well as milestone rewards and annual fee reversal. The card also has the same benefits as the SBI Cashback Credit Card in terms of fuel surcharge waiver, zero liability on lost card and access to airport lounges.
However, if you are looking for a card that offers cashback on grocery, departmental store and fuel spends as well as all other spends without any maximum limit or category restrictions, then the SBI Cashback Credit Card might be a better option for you. The card offers a flat 5% cashback on these spends up to Rs. 100 per month and 1% cashback on all other spends with no maximum limit. The card also has a lower annual fee threshold of Rs. 90,000 compared to the SBI Simply Click Credit Card's Rs. 1 lakh.
Ultimately, the best credit card for you depends on your spending habits and preferences. You should compare the features, benefits, fees and charges of both cards and choose the one that suits your needs better.
FAQs - How To Apply For SBI Credit Cards
1. What are the eligibility criteria for SBI credit cards?
To apply for an SBI credit card, you need to meet the following criteria:
You must be a resident of India or a non-resident Indian (NRI).
You must be at least 18 years old and not more than 65 years old.
You must have a good credit history and a minimum monthly income of INR 20,000 for salaried applicants and Rs. 30,000 for self-employed applicants.
2. What are the documents required for SBI credit cards?
To apply for an SBI credit card, you need to submit the following documents along with your application form:
A copy of your PAN card or Form 60.
A copy of your identity proof, such as Aadhaar card, passport, voter ID card, driving license, etc.
A copy of your address proof, such as Aadhaar card, passport, voter ID card, driving license, utility bill, bank statement, etc.
A copy of your income proof, such as salary slip, income tax return, bank statement, etc.
3. How can I apply for SBI credit cards online?
To apply for an SBI credit card online, you need to follow these steps:
Visit the official website of SBI Card at https://www.sbicard.com/
Click on the 'Credit Cards' tab and choose the card that suits your needs and preferences.
Click on the 'Apply Now' button and fill in the online application form with your personal and professional details.
Upload the scanned copies of your documents and submit the form.
You will receive an instant e-approval or a reference number on your registered mobile number and email ID.
You can track the status of your application using the reference number on the website or by calling the customer care number.
4. How long does it take to get an SBI credit card?
It usually takes 7 to 15 working days to get an SBI credit card after you submit your application and documents. However, the processing time may vary depending on the verification and approval process.
5. How can I check the status of my SBI credit card application?
You can check the status of your SBI credit card application using any of the following methods:
Online: Visit the official website of SBI Card at https://www.sbicard.com/ and click on the 'Track Your Application' link. Enter your application reference number or date of birth and mobile number and click on 'Track'.
SMS: Send an SMS 'STATUS <your application reference number>' to 5676791 from your registered mobile number.
Phone: Call the customer care number 1860 180 1290 or 39020202 (prefix local STD code) and provide your application reference number or date of birth and mobile number.
6. How can I activate my SBI credit card?
You can activate your SBI credit card using any of the following methods:
Online: Visit the official website of SBI Card at https://www.sbicard.com/ and log in to your account using your user ID and password. Click on the 'Cards' tab and select your card. Click on the 'Activate Card' link and enter the OTP sent to your registered mobile number. Your card will be activated instantly.
SMS: Send an SMS 'SWON <last four digits of your card number>' to 5676791 from your registered mobile number. Your card will be activated within 24 hours.
Phone: Call the customer care number 1860 180 1290 or 39020202 (prefix local STD code) and follow the instructions to activate your card.
7. How can I pay my SBI credit card bill?
You can pay your SBI credit card bill using any of the following methods:
Online: You can pay your bill online using net banking, debit card, UPI, NEFT, RTGS, IMPS, Visa Money Transfer, BillDesk or Paytm. Visit the official website of SBI Card at https://www.sbicard.com/ and log in to your account. Click on the 'Pay Now' button and choose your preferred mode of payment. Enter the amount and confirm the payment.
Offline: You can pay your bill offline using cash, cheque or draft at any SBI branch or ATM. You can also use Easy Pay machines or electronic drop boxes at select locations.
8. How can I redeem my SBI credit card reward points?
You can redeem your SBI credit card reward points using any of the following methods:
Online: Visit the official website of SBI Card at https://www.sbicard.com/ and log in to your account. Click on the 'Rewards' tab and choose from various categories such as travel, shopping, vouchers, etc. Select the items or vouchers you want to redeem and add them to your cart. Proceed to checkout and confirm the redemption.
Phone: Call the customer care number 1860 180 1290 or 39020202 (prefix local STD code) and request for redemption. Provide your card details and the items or vouchers you want to redeem. Confirm the redemption and pay the handling charges if applicable.
9. How can I increase my SBI credit card limit?
You can increase your SBI credit card limit using any of the following methods:
Online: Visit the official website of SBI Card at https://www.sbicard.com/ and log in to your account. Click on the 'Services' tab and select 'Flexipay'. Enter the amount you want to increase your limit by and choose a repayment plan. Accept the terms and conditions and confirm the request.
Phone: Call the customer care number 1860 180 1290 or 39020202 (prefix local STD code) and request for a limit enhancement. Provide your card details and income proof. Your request will be processed within 7 working days.
10. How can I cancel my SBI credit card?
You can cancel your SBI credit card using any of the following methods:
Online: Visit the official website of SBI Card at https://www.sbicard.com/ and log in to your account. Click on the 'Services' tab and select 'Close Card'. Choose the reason for cancellation and submit the request.
Phone: Call the customer care number 1860 180 1290 or 39020202 (prefix local STD code) and request for card cancellation. Provide your card details and reason for cancellation. Your request will be processed within 10 working days.
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