SBI Cashback Credit Card Review: Online shopping is one of the biggest faces of the digital India. From groceries to gadgets– we buy almost everything online.
After China and the US, India had the third-largest online shopper base of 150 million in FY21. This is expected to reach 350 million by FY26.
SOURCE: IBEF
What if you get cashback for all your online shopping?
Sounds good, right?
You can make this deal alive by using the SBI CASHBACK CREDIT CARD.
What is it? And what it all offers?
Well… we are here to discuss on it only.
With a lucrative 5% cashback on all online transactions, this card promises to make your online spending more rewarding.
We are going to discuss the positive and negative sides of SBI CASHBACK CREDIT CARD, its benefits, fees and charges, and more.
What Makes SBI Cashback Credit Card Stand Out?
The SBI Cashback Credit Card is designed for people who love to shop online.
But what makes it different from other cashback credit cards?
Amazon Pay ICICI Credit Card or Flipkart Axis Bank Credit Card also offers 5% cashback on online purchases.
But with certain limitations…
You might be knowing that Amazon Pay ICICI Card gives 5% cashback for shopping from Amazon only if you are an amazon prime member.
Non-amazon prime member gets 3% cashback.
Flipkart Axis Bank Credit Card imposes similar conditions. You get 5% cashback only if you shop from the Flipkart.
This is where enters the SBI Cashback Credit Card…
Unlike many other cashback cards that limit rewards only to specific categories or stores, this card offers a flat 5% cashback on all online purchases.
So even if you are buying shoes on Flipkart, earphones on Amazon, booking Ola cab, or ordering food from Zomato, you will earn cashback in all these cases.
SBI CASHBACK CREDIT CARD REVIEW: Fee and Waiver Condition
Joining Fee:
- The SBI Cashback credit card charges a one-time joining fee of Rs 999 from the cardholders.
Annual Fee:
- You do not have to pay the annual fee for the 1st year.
- A renewal fee of Rs 999 is charged from 2nd year onwards.
- However, the annual fee for a year can be waived off if you have spent Rs 2 Lakhs or more in the last year.
For example- The annual fee for the year 2025 can be reversed or waived off if you spend minimum Rs 2 Lakhs in the year 2024 using this card.
Understanding Cashback on this card
Let’s break down the different types of cashbacks you can earn with this card:
# I. 5% Cashback on Online Purchases
You earn 5% cashback on all online spendings. However, there is a cap on the cashback you can earn.
The maximum cashback you can earn in a month is ₹5,000.
This can be said that online transactions up to ₹1 lakh per month are eligible for the full 5% cashback.
You do not get 5% cashback on online spends above Rs 1 lakh in a month.
Also, there is no any merchant restriction.
You get 5% cashback in all cases even if you buy shoes from Flipkart or Amazon, order food from Zomato, or book flight tickets from MakeMyTrip.
# II. 1 % cashback on all offline purchases
SBI cashback credit card is known for its offer on online shopping. However, it also provides benefits for offline spending.
You earn 1% cashback on all offline payments. This includes purchases made at physical stores, making it a good all-around card for various spending habits.
# III. Excluded Categories
It’s important to know which transactions don’t earn cashback to make the most of your card.
There are certain categories for which you do not get any cashback. Some of them are listed below:
- No cashback on utility bill payments like water bills etc. Earlier it used to give 1% cashback on utility bill payments.
- No cashback on rent or property-related payments
- No cashback on fuel spends at petrol pumps
- No cashback on online or offline purchase of jewelry
- No cashback on school and educational related services like buying an online course, stationary items, coursebooks, etc.
- No cashback on purchasing gift cards, railway tickets, wallet loads, etc.
I suggest you to read the terms and conditions before applying for this credit card.
SBI Cashback Credit Card Review: Key Benefits
The SBI CASHBACK CREDIT CARD is packed with features that makes your shopping experience better and help you save money. Below are some of the benefits that I like the most:
- Spend online without worrying about the categories or merchants: 5% cashback on online shopping without any merchant limitation. Also you receive the same 5% cashback on all categories. This is the prominent feature of this card and you are going to love it If you do most of your shopping online.
- Annual-fee Reversal: Annual fee of Rs 999 can be reversed if you spend minimum Rs 2 Lakhs in the preceding year.
- 1% cashback on offline spends: You do not save much on offline spends in comparison to spending online. However, 1% cashback is still enough and make it a well-rounded choice for all your spending needs.
- Fuel Surcharge Waiver: This card also offers 1% fuel surcharge waiver across all petrol pumps in India. This is applicable on the fuel spends between Rs 500 and Rs 3000 and you can get the maximum waiver of Rs 100 in a month.
Things I Don’t Love About the SBI Cashback Credit Card?
While the SBI Cashback Credit Card offers great benefits, there are few things that you might not like.
# I. No Lounge Access
I saw that some lifetime credit cards (IDFC Bank) also offers domestic lounge access. IDFC First Wealth Credit Card even give access to international lounge visits.
ALSO READ: Best Credit Card With No Annual Fee in 2024 [ Zero FEE ]
There isn’t a problem if you travel occasionally and need this credit card mostly for shopping.
But… no lounge access can be an issue for those who often travel for business or vacation purposes.
# II. No Welcome Bonus
Many credit cards offer welcome benefits like bonus points or vouchers when you sign up.
Unfortunately, the SBI Cashback Credit Card does not provide any such perks. This might be a downside for new users looking for immediate rewards.
# III. No cashback on some well-known categories
I feel that some well-known categories like jewelry, utility bills, rent payments, etc. should be opened for cashback.
People spend a lot on these categories and offering cashback will make this card more reliable and help users save more money while shopping.
FINAL THOUGHTS
The SBI Cashback Credit Card is a fantastic option for anyone who loves shopping online.
With a 5% cashback on all online purchases, this card gives you the freedom to earn handsome rewards on any categories— from groceries to gadgets.
The best part? There are no limitations on where you shop online, so you can earn cashback on a wide variety of purchases.
However, there are few downsides which we should not neglect.
The card does not provide welcome benefits which might not be a good deal for new users looking for immediate bonus.
SBI Cashback Credit Card may also disappoint travelers for not offering complimentary lounge access.
Additionally, you won’t get cashback on some routine categories like jewelry, utility bills, etc.
Overall, the SBI Cashback Credit Card could be a great addition to your wallet if online shopping is a big part of your lifestyle. It’s an easy way to earn cashback and make your spending work for you.
What’s your viewpoint about this SBI Cashback Credit Card Review? Please share in the comment section…
See you!
HAPPY SHOPPING!