Is SBI Cashback card even worth it?

[card.enthusiast]

I have been tracking my expenses and cashback for last 8 months and I am not able to reconcile where they give 1% and where they give 5%.

When they say "online", it looks like purely Indian e-commerce sites like Flipkart, Amazon, and BigBasket qualify, and not really other places you pay on web. Places I've not gotten are- Tata AIG insurance, Google workspace account, Uber, Indeed premium, any charity (e.g. Goonj, Akshaypatra), Flynote vacations (received once, didn't receive second time), Agoda hotels, etc. This is approximation because my calculated numbers and their numbers don't exactly match.

Because of this uncertainty, my net cashback for last year is 2.6% even though I use this card exclusively online. This is less than 3.3% default from Diner Black where I don't have to think at all. Moreover in middle of month when I check I see one number, in the statement I see different number (even smaller), and in the credit I see even other different number than in the statement. When asking customer service, they sent generic response on which MCCs are eligible and which not. This doesn't explain why their own statement amount and credit amount are different.

I want to cancel this card. What am I missing?

 

[AlgoTrader]

No, you are spot on. It is the most highly over-rated card ever

 

[techt]

Check their TnCs and where ever you are getting 1% or 0% could be utilities, insurances etc.

For Uber/ola the best is buy an amazon gv and add it to amazon wallet. Link the amazon wallet to uber/ola.

Hotels/flights/hospitality : some apps like cleartrip had railways as MCC for a while and the card didn't reward. Now its fixed I guess.

Charity - not sure .

I check every statement of mine and the 5% is intact. Few days ago I purchased some books online, they too earned 5%.

 

[cardio_guy]

Yes. Better than this is Amazon pay ICICI card. The cashback is pretty decent than SBI.

 

[insight]

I have been tracking my expenses and cashback for last 8 months and I am not able to reconcile where they give 1% and where they give 5%.

When they say "online", it looks like purely Indian e-commerce sites like Flipkart, Amazon, and BigBasket qualify, and not really other places you pay on web. Places I've not gotten are- Tata AIG insurance, Google workspace account, Uber, Indeed premium, any charity (e.g. Goonj, Akshaypatra), Flynote vacations (received once, didn't receive second time), Agoda hotels, etc. This is approximation because my calculated numbers and their numbers don't exactly match.

Because of this uncertainty, my net cashback for last year is 2.6% even though I use this card exclusively online. This is less than 3.3% default from Diner Black where I don't have to think at all. Moreover in middle of month when I check I see one number, in the statement I see different number (even smaller), and in the credit I see even other different number than in the statement. When asking customer service, they sent generic response on which MCCs are eligible and which not. This doesn't explain why their own statement amount and credit amount are different.

I want to cancel this card. What am I missing?

I believe it is for "online shopping" not Insurance etc.

So I've mostly ventured towards it due to wider e shopping needs beyond Amazon.
H&M, Zara, Etc.

Although I might have to track / track & audit if the numbers hold true as I haven't sat and verified.

 

[pgarg24]

My major expense is ordering medicines for my dad so I always get 5% on it.. I am trying to get another cashback card in the family but unfortunately they are not approving it.. its totally a worth it card for a lot of online portals for which smartbuy does not have voucher.

 

[FinoGuy]

Good., cancel the card..
P.s: get axis ace for a refreshing experience about credit card exclusions

 

[Calm Radiance]

I've also noticed similar pattern where its less than 5%, on calculating its not what they promise and on reaching customer care they give only generic response, moreover its difficult to calculate on which spends they've not considered 5% cashback when there are several transactions done hence I'm planning to downgrade the card to simplyclick if that's possible by next year.

Note : I've checked their exclusions and none of my expenses falls in it (for eg. online shopping from jiomart/ dmart) yet 5% is not received each time.
Insurance, utilities are excluded. Hope this solves your query.

 

[FinoGuy]

Share your transaction history iydm. I'll try to solve the puzzle..

I've also noticed similar pattern where its less than 5%, on calculating its not what they promise and on reaching customer care they give only generic response, moreover its difficult to calculate on which spends they've not considered 5% cashback when there are several transactions done hence I'm planning to downgrade the card to simplyclick if that's possible by next year.

Note : I've checked their exclusions and none of my expenses falls in it (for eg. online shopping from jiomart/ dmart) yet 5% is not received each time.
Insurance, utilities are excluded. Hope this solves your query.

 

[Drb]

Would suggest checking this link that was shared somewhere in this community. It worked for me till time and gave 5% cashback for all the transactions I made till time (mostly on amazon, bigbasket, blinkit, swiggy, goibibo)

SBI CASHBACK CREDIT CARD - Google Drive

docs.google.com

 

[TheGuy]

Would suggest checking this link that was shared somewhere in this community. It worked for me till time and gave 5% cashback for all the transactions I made till time (mostly on amazon, bigbasket, blinkit, swiggy, goibibo)

SBI CASHBACK CREDIT CARD - Google Drive

docs.google.com

Pretty neat. Where did you find this?

 

[iNokia]

Sadharan log ke liye nahi hai yeh card.

 

[Drb]

Pretty neat. Where did you find this?

This is the one..

Regarding The Credit Card Limit Of Sbi Cashback And Calculation Of The Cashback And List Of The Mcc Code In Which Sbi Calculates The Cashback Posted'

Hi to all community members I have an SBI cashback credit card received on 3.1.2023 and I have noticed that the cashback limit seems to be quite low which is 10000 INR Despite two card holds (simply click and irctc premiere). Can anyone explain why this is the case and how SBI calculates the...

www.technofino.in

 

[Calm Radiance]

Would suggest checking this link that was shared somewhere in this community. It worked for me till time and gave 5% cashback for all the transactions I made till time (mostly on amazon, bigbasket, blinkit, swiggy, goibibo)

SBI CASHBACK CREDIT CARD - Google Drive

docs.google.com

this is very neat, there should be a provision in technofino where such posts can be pinned so that these posts dont get lost after so many comments.

 

[AJ331]

Does the website knowledgehut give cashback if paid using SBI Cashback card?

 

[card.enthusiast]

Yes but uncertainty is what's makes this unreliable. Like chasing extra uncertain 1.7% at cost of -2.3% (vs Diner Black).

I believe it is for "online shopping" not Insurance etc.

So I've mostly ventured towards it due to wider e shopping needs beyond Amazon.
H&M, Zara, Etc.

Although I might have to track / track & audit if the numbers hold true as I haven't sat and verified.

Re: Axis Ace, I applied twice (early 2023, mid 2023) and they said they have stopped offering it. I do keep hearing the recommendations on forums though.

Good., cancel the card..
P.s: get axis ace for a refreshing experience about credit card exclusions

 

[card.enthusiast]

I didn't get on Agoda. Is there a way to contribute to this list? (This is read-only for now)

Would suggest checking this link that was shared somewhere in this community. It worked for me till time and gave 5% cashback for all the transactions I made till time (mostly on amazon, bigbasket, blinkit, swiggy, goibibo)

SBI CASHBACK CREDIT CARD - Google Drive

docs.google.com

 

[senasenthil]

Yes but uncertainty is what's makes this unreliable. Like chasing extra uncertain 1.7% at cost of -2.3% (vs Diner Black).

Re: Axis Ace, I applied twice (early 2023, mid 2023) and they said they have stopped offering it. I do keep hearing the recommendations on forums though.

I got Ace a month before

 

[FinoGuy]

@card.enthusiast

Good., cancel the card..

P.s: get axis ace for a refreshing experience about credit card exclusions

1. You don't get saarCasm,( that was sarcasm) the card has lost its charm, axis has trimmed the benefits so much so that it is not worthy for many people.
2. Axis has NOT discontinued ace card. Many people have got the card this month, some in last week.

 

[SSV]

SBI CB card is much much worth it….

SBI CB card is the best CB card in the market right now, with generous 5k per month limit @5% on online spends with clearly mentioned exclusions

Unless you have several transactions on a single day, it is quite easy to track whether you received 5% or not , as it posts CB immediately after transaction is settled in the accrual column.

SBI correctly follows MCC codes notified under exclusion list..
I have never faced any issues while accumulating my CB as below in a period of 12 months..