FABindia SBI Card SELECT
The SBI Fabindia Credit Card is a special credit card launched in June by the State Bank of India (SBI) in partnership with the popular lifestyle brand Fabindia. This card is part of SBI’s growing list of co-branded cards, like the Max SBI Card Select and LifeStyle Home Centre SBI Card Prime. It offers great benefits for Fabindia shoppers, such as instant Platinum FABfamily membership and faster reward points when shopping at Fabindia. You also get a free Priority Pass membership and 4 free visits to domestic airport lounges every year. On top of that, new cardholders receive Fabindia gift vouchers worth ₹1,500, and the card can be used anywhere in the world.
This card gives you more value every time you shop, especially at Fabindia. You earn 10 Reward Points for every ₹100 spent at Fabindia stores, and at least 2 Reward Points on all other purchases. It’s easy to apply for and works well for people who want a card that gives rewards on both shopping and travel. If you often shop at Fabindia and want extra perks, the SBI Fabindia Credit Card can be a smart and useful choice.
Rewards and Benefits
Fees & Charges
What should you consider before applying for a credit card in India?
Key Considerations Before Applying for a Credit Card in India:
- Eligibility Criteria: Ensure you meet the eligibility requirements, which typically include age, income, credit score, and employment status as defined by the issuing bank or financial institution.
- Credit Score: A strong credit score can significantly improve your chances of approval and result in more favorable terms, such as lower interest rates or higher credit limits. Verify that your credit score is healthy before applying.
- Interest Rates and Fees: Compare the annual percentage rates (APR), processing fees, late payment penalties, and foreign transaction charges associated with various cards. These costs can vary widely and impact the overall value of the card.
- Rewards and Benefits: Evaluate the rewards, cashback, discounts, or other perks offered by the card to ensure they align with your spending patterns. Some cards may provide better benefits in specific categories, such as travel, shopping, or dining.
- Credit Limit: Review the credit limit offered by the card to ensure it meets your financial needs. Avoid applying for cards with excessive limits if you are concerned about managing debt, as this can lead to higher interest charges.
- Repayment Terms: Understand the repayment structure, including the minimum payment amount, payment due dates, and any associated penalties. Being clear about these terms can help you manage payments effectively and avoid interest buildup.
- Card Type and Features: Choose a card type that matches your specific needs—whether standard, premium, or specialized cards like those offering travel rewards or dining privileges. Ensure the features of the card align with your lifestyle and spending habits.
- Bank’s Reputation: Opt for a financial institution with a proven reputation for customer service and transparency. Consider researching customer reviews and assessing their support channels to ensure reliable service.
- Hidden Charges: Be aware of any hidden fees, including annual fees, balance transfer charges, foreign transaction fees, or cash withdrawal charges. These can add up over time and affect the overall cost-effectiveness of the card.
- Credit Utilization: Maintain a balance within your credit limit to avoid high credit utilization ratios, which can negatively impact your credit score. Responsible use of credit is essential for maintaining financial health.
- Long-Term Financial Plans: Consider how the credit card fits into your overall financial strategy. Avoid accumulating unnecessary debt and choose a card that supports your long-term financial goals without adding financial strain.
What should I do if I lose my credit card?
If you lose your credit card, immediately contact the bank’s customer care service. They will block your card to prevent any unauthorized use.
How can I download the mBUY app?
To download the mBUY app, send an SMS to 56767 or visit sbicard.com to receive the download link.
How can I pay my outstanding credit card amount?
You can pay your credit card bill by logging into SBI net banking or mobile banking. Alternatively, you can set up standing instructions to automatically deduct the payment on the due date.
Do I need to be a customer of SBI to apply for this credit card?
No, you don’t need to be an SBI customer to apply for this credit card.
What should be my credit score if I wish to apply for this card?
To apply for this credit card, you should have a credit score of 750 or above.
What is the validity of the Reward Points?
The Reward Points are valid for 2 years from the date they are earned.
Is the fuel surcharge waived?
The 1% fuel surcharge is waived for transactions up to ₹3,000. The maximum waiver you can get is ₹100 per month.
What is the monetary value of the Reward Points?
Each Reward Point can be converted into 1 Fabfamily Reward, which has a value of ₹1.
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