SBI Cashback Credit Card- Annual fee debited

[skyisthelimit]

Annual fee for SBI Cashback Credit card is debited yesterday, even after, spending of more than Rs. 2 lakh.

Will it get reversed automatically or take up the matter with "Clueless SBI Card" ?

 

[Akki]

Fee with GST will get reversed within 30 days.

 

[SHUB11]

I got SMS that the fees will be reversed in the next 30 days.

 

[shsinha]

I got SMS that the fees will be reversed in the next 30 days.

Follow up again after 1 month. It is SBIcard.

 

[iamabhisekagar]

Will get automatically credited... however make sure to pay the entire billed amount (including the card fees that was debited)

 

[shikharjain10]

Wasnt this card 1st year free? why was the fees charged?

 

[WandereR]

Wasnt this card 1st year free?

FYF means no joining fee. Charges for the following year are levied when it starts not at the end.

 

[shikharjain10]

So annual fee waiver is for previous year spends or next year?
As in if the renewal is happening in Nov 2023, will my spend of the period nov 22-nov 23 get considered for waiver? or I will have to pay the fee in nov 23 and my expenses from Nov 23 to Nov 24 will be considered for this waiver of fee charged in nov 23

 

[NShah]

So annual fee waiver is for previous year spends or next year?
As in if the renewal is happening in Nov 2023, will my spend of the period nov 22-nov 23 get considered for waiver? or I will have to pay the fee in nov 23 and my expenses from Nov 23 to Nov 24 will be considered for this waiver of fee charged in nov 23

Previous Year
Yes

 

[shashifed]

Context - Spent close to 10lakhs on my SBI Cashback card this year. The card was issued last year October. Now when Im checking my credit card statement, I have an annual fee charged (1180 rupees). Is this a bug? or will my fees be reversed?
PS: Dont mind paying the fee, but I don't want SBI to go back on their word!

 

[gamersgzb]

It will get reversed in 30 days
Post in thread 'SBI Cashback Credit Card- Annual fee debited' https://www.technofino.in/community...dit-card-annual-fee-debited.18372/post-385587

 

[ujjawal]

Context - Spent close to 10lakhs on my SBI Cashback card this year. The card was issued last year October. Now when Im checking my credit card statement, I have an annual fee charged (1180 rupees). Is this a bug? or will my fees be reversed?
PS: Dont mind paying the fee, but I don't want SBI to go back on their word!

It will be reversed, don't worry

 

[shashifed]

my bad.. thanks for the info

 

[KLB@96]

Context - Spent close to 10lakhs on my SBI Cashback card this year. The card was issued last year October. Now when Im checking my credit card statement, I have an annual fee charged (1180 rupees). Is this a bug? or will my fees be reversed?
PS: Dont mind paying the fee, but I don't want SBI to go back on their word!

Damn you spent 10lac online trxs ?

 

[starstruck]

Damn you spent 10lac online trxs ?

He said close to 10 lakhs. When you cross the 10 lakhs, the biggest shark of Income Tax department will come into play.

 

[imdjay]

He said close to 10 lakhs. When you cross the 10 lakhs, the biggest shark of Income Tax department will come into play.

I hope this is the financial year. not calendar year or card anniversary year.

 

[starstruck]

I hope this is the financial year. not calendar year or card anniversary year.

He will know it better whether he spent that 10 lakhs after 1st April 2023 or not. But taxman will follow the financial year.

 

[Pankhuri]

He will know it better whether he spent that 10 lakhs after 1st April 2023 or not. But taxman will follow the financial year.

are spends which are reversed counted towards this? Say I order something and cancel it two days later, will that spend be counted towards 10L? Bank at least consider the reversed money as payment towards the statement, so I wonder would spends like these could also F**k someone over, especially those who want to avoid it but tread closely to that line.

 

[starstruck]

are spends which are reversed counted towards this? Say I order something and cancel it two days later, will that spend be counted towards 10L? Bank at least consider the reversed money as payment towards the statement, so I wonder would spends like these could also F**k someone over, especially those who want to avoid it but tread closely to that line.

No idea bro. These are intricacies which either bank can answer (i.e. whether they will count it to send to IT) or CA can answer or IT directly can answer.

 

[shashifed]

He will know it better whether he spent that 10 lakhs after 1st April 2023 or not. But taxman will follow the financial year.

Made sure I spent it in the calender year, so that the amount spent will be split over two financial years.