How to Apply for SBI Cashback Credit Card: In this blog, I’m going to review the ABB Cashback Credit Card. I’ve been using it for the past two years and have earned between 24,000 to 225,000 in cashback. So, how much actual cashback can you get? What are the benefits and hidden charges? In which categories has cashback been discontinued? Recently, they have made several changes to the terms. Plus, I’m going to share a hack with you to maximize your cashback even if you have a low credit limit. read the article to the end, and if you’re interested in applying directly with rewards, there’s a link in the description.
Fees Overview
First, let’s discuss the fees for this card. It’s not a lifetime-free card; there’s a ₹99 joining fee, with no welcome benefits. The annual fee of ₹99 kicks in from the second year. However, if you manage to spend ₹2 lakhs in a year (approximately ₹18,000 per month), the annual fee is waived, effectively making it lifetime-free. Additionally, supplementary or add-on cards for family members like parents or siblings are free of charge.
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Transaction and Cashback Details
Avoid ATM withdrawals with this card, as charges are high. There’s a 5% cashback on selected transactions up to ₹5 lakhs. However, the card operates on a Visa-based system, so you can’t use it with UPI or QR code payments; only online or swipe-based transactions are eligible for cashback.
SBI has recently removed cashback eligibility for certain categories due to misuse. For example, transactions like wallet loading, rent payments, jewelry purchases, school fees, utility bills, insurance, gift cards, railway ticket payments, and fuel purchases no longer qualify for cashback. Additionally, if you convert a purchase into EMI, you won’t receive any cashback on that transaction.
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Cashback Credit Timeline
Cashback is generally credited around the 21st of the following month. For instance, cashback earned in September or October would be reflected in the statement by the 21st of the next month. This cashback is applied directly to your statement balance, which means you pay less out of pocket.
Card Limit and Cashback Hack
One drawback is the low initial credit limit on this card, even if you have a high credit score or cards with higher limits. SBI generally offers a lower limit initially, but if you do get a high limit, it’s beneficial. The card also doesn’t always offer a 10% discount during online sales, like Amazon’s Diwali Sale.
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Here’s a hack for earning more cashback if you have a low credit limit. Suppose your credit limit is ₹50,000. You can make a transaction up to this limit, then repay it after a couple of days to reset your limit. This cycle allows you to spend more and earn cashback on each transaction. So even if your limit is low, you can keep cycling it to spend higher amounts and maximize your cashback.
If you’re interested in applying for this card with exclusive rewards, check the description box. And if you have any questions, feel free to ask in the comments. Thank you for reading!