Cash in Your Pocket: The Ultimate Guide to SBI Cash back Credit Card Benefits

SBI Cashback Credit Card

Credit cards have become an integral part of our financial lives, offering convenience and a host of benefits. One such card is the SBI Cashback Credit Card, which provides cardholders with a range of perks and rewards. In this guide, we will explore the various benefits of the SBI Cash back Credit Card and how you can make the most of this card to put cash back in your pocket.

Features and Benefits

Cash back Rewards: Earn cash back on your everyday purchases, including groceries, fuel, dining, and more. The card offers competitive cash back rates, allowing you to maximize your rewards and earn savings on your monthly expenses.

Accelerated Cash back: Enjoy higher cash back rates for specific categories, such as dining, shopping, or travel. This feature allows you to earn more rewards on certain types of purchases, providing you with even greater savings.

Welcome Benefits: New cardholders can enjoy welcome benefits such as cash back vouchers, bonus reward points, or waived annual fees for the first year. These welcome benefits add value to the card and provide an instant reward for signing up.

Exclusions on Cash back

Cash Advances: Cash advances, including ATM withdrawals, do not typically qualify for cash back rewards. Transactions such as these are considered as borrowing cash on your credit card and are subject to different terms.

Balance Transfers: Balance transfers, where you transfer debt from one credit card to another, usually do not qualify for cash back rewards. These transactions are often subject to different terms and may incur fees.

Utility Bill Payments: While some credit cards offer cash back on utility bill payments, others may exclude these transactions from earning cash back rewards. It’s important to check the specific terms of your card.

How to Calculate Cashback?

Determine the Cashback Rate: Check your credit card terms to find the cashback rate applicable to your purchases. For example, if your card offers 5% cashback on groceries and you spend ₹1,000 on groceries, your cashback for that transaction would be 5% of ₹1,000, which is ₹50.

Calculate the Total Cashback: Repeat this process for all eligible transactions during your billing cycle. For example, if you spend ₹5,000 on groceries, ₹3,000 on fuel, and ₹2,000 on dining, and the cashback rates for these categories are 5%, 2%, and 3% respectively, your total cashback would be:

Cashback on groceries: 5% of ₹5,000 = ₹250

Cashback on fuel: 2% of ₹3,000 = ₹60

Cashback on dining: 3% of ₹2,000 = ₹60

Total cashback = ₹250 + ₹60 + ₹60 = ₹370

Steps to Apply for a SBI Cashback Credit Card

Check Eligibility: Visit the SBI Card website and check the eligibility criteria for the SBI Cashback Credit Card. Ensure you meet the age, income, and other requirements specified by SBI.

Gather Documents: Keep your identity proof, address proof, and income proof documents ready. These may include Aadhaar card, PAN card, passport, utility bills, salary slips, etc.

Visit SBI Card Website: Go to the SBI Card website and navigate to the SBI Cashback Credit Card page.

Fill Application Form: Fill out the online application form with your personal, contact, and income details. Ensure all information provided is accurate and up-to-date.

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