SBI Cashback Credit Card Review

[Sreerag]

I can tell you but can u please tell the reason why u want that??

I don't know which variant of Visa it is, so to know that I want the BIN of the card which is the 1st 6 digits.

 

[Sreerag]

Here i ringed him 479959xxxxxxxxxx thanks

Thank you so much

 

[Cryptopsycho]

Mostly to know the bin and card variant for knowing the benefits but not sure…anyways sharing first 6 digits alone not a breach as all holders will have same under sbi

yeah i know. still just asked to be sure.

 

[Sreerag]

Ok Visa Platinum.... Not bad... But for the annual fee Signature would have been great, as Axis Ace already has Visa Signature at 499

 

[repertoire]

This card can be actually used to replace 90% of my purchases, since most of the shop owners charge 1-2% for Credit Card transactions offline. In addition, I don't need to worry about getting multiple co-branded cards. I can focus on this one, and hold some non-cobranded ones for other discounts.
The only problem that I can think of is - this card is way too good to be true. All co-branded cards have, at one point of their time, downgraded their rewarding systems. So, what if SBI does that too, as this card is just C.R.A.Z.Y?

It's designed to be a loss leader for SBI to gain more market share. That's why they're not offering it as an upgrade to existing customers. If you think about it, they don't want to devalue it too soon, as that defeats the entire point of gaining more customers and increasing CC usage in the Indian market.

But chances are they're also underestimating the demand for a card like this, and all the ways people will abuse it. Maybe they will have to devalue it sooner than even they expect, or maybe it goes down the Axis Ace route and it gets difficult to be approved for.

But as long as this card stays available, it should put competitive pressure on all the other card issuers to increase their reward rate or to differentiate further in the short term to stay relevant. And more competition is always good for the space.

 

[Sreerag]

It's designed to be a loss leader for SBI to gain more market share. That's why they're not offering it as an upgrade to existing customers. If you think about it, they don't want to devalue it too soon, as that defeats the entire point of gaining more customers and increasing CC usage in the Indian market.

But chances are they're also underestimating the demand for a card like this, and all the ways people will abuse it. Maybe they will have to devalue it sooner than even they expect, or maybe it goes down the Axis Ace route and it gets difficult to be approved for.

But as long as this card stays available, it should put competitive pressure on all the other card issuers to increase their reward rate or to differentiate further in the short term to stay relevant. And more competition is always good for the space.

As Amazon launched UPI through their wallet. People will just buy gift cards and send money to themselves. 5% on spends even. This can also be used on other cards

 

[Cryptopsycho]

As Amazon launched UPI through their wallet. People will just buy gift cards and send money to themselves. 5% on spends even. This can also be used on other cards

gift cards cannot be used as money for UPI transfers.... and u cannot add money directly to Amazon pay through Credit cards. Also wallet load is not eligible for cashback... Uber trick may be there but I think that is short lived and would be stopped soon....

 

[repertoire]

As Amazon launched UPI through their wallet. People will just buy gift cards and send money to themselves. 5% on spends even. This can also be used on other cards

Maybe not through directly buying gift cards, because GC balance and UPI balance are treated differently and you can't transfer the former. But the Uber method would work. If SBI has any sense, they'll patch that hole soon. Or just cancel the cards of anyone who does it too much. It makes zero sense to give CB rewards to anyone abusing the system. But this is SBI we're talking about, so who knows.

 

[Sreerag]

gift cards cannot be used as money for UPI transfers.... and u cannot add money directly to Amazon pay through Credit cards. Also wallet load is not eligible for cashback... Uber trick may be there but I think that is short lived and would be stopped soon....

Gift cards = APay Wallet Balance = New UPI Feature
Who said? Can perfectly add money through APay card, you'll get 2% on APay Wallet load
Wallet load is not eligible for cashback, but online it will show as Amazon so....
Uber trick still exists and can be used ithink

 

[Strange]

Here i ringed him 479959xxxxxxxxxx thanks

It's a VISA Rewards Credit card like ICICI Amazon Pay or Flipkart Axis.

BIN Verified on https://visaoffers.poshvine.com/

 

[Sreerag]

It's VISA Rewards Credit card like ICICI Amazon Pay or Flipkart Axis.

I got it as Visa Platinum

 

[Strange]

I got it as Visa Platinum

479959 BIN is VISA Rewards

 

[Wealth is my birth right!]

Visa platinum 999 is a bit costly card can be signature do that bms bogo will be a benefit

 

[Sreerag]

479959 BIN is VISA Rewards

Yeah verified the website is nuts, entered Apay Bin it's showing as Platinum... And Flipkart Axis is Signature, right? In the ads it shows Signature

 

[Sreerag]

479959 BIN is VISA Rewards

Which website

 

[Strange]

I got it as Visa Platinum

Can you confirm your BIN?

 

[Sreerag]

Can you confirm your BIN.

No it's wrong I said above

 

[Strange]

Which website

VISA Offers Website

Visa Offers

visaoffers.poshvine.com

 

[Strange]

Yeah verified the website is nuts, entered Apay Bin it's showing as Platinum... And Flipkart Axis is Signature, right? In the ads it shows Signature

ICICI Apay and Flipkart Axis both are VISA rewards credit card. Check your physical card. You won't see Signature or Platinum printed on it.

 

[Wealth is my birth right!]

ICICI Apay and Flipkart Axis both are VISA rewards credit card. Check your physical card. You won't see Signature or Platinum printed on it.

No one got physical card yet since its just 3 days old