SBI SimplySAVE UPI Rupay Credit Card
The SBI SimplySAVE Credit Card is a good option for people just starting with credit cards. It has an annual fee of Rs. 499 and offers a welcome benefit of 2,000 bonus reward points. You can earn extra reward points on purchases like groceries, movies, and shopping at departmental stores, making it a great choice for saving on daily expenses. You can even link the card to your UPI apps for added convenience.
You can get the annual fee waived if you spend Rs. 1 lakh or more with the card, which is an achievable target. While the card doesn’t offer many travel, dining, or entertainment perks, it’s perfect for beginners. If you're new to credit cards and want a basic card with rewards, this one is a great option. However, if you shop mostly online, you might prefer the SBI SimplyCLICK Credit Card instead. It’s important to consider your spending habits before choosing a card to make sure it suits your needs.
Rewards and Benefits
Fees & Charges
What should you consider before applying for a credit card in India?
Before applying for a credit card in India, consider the following factors:
- Eligibility Criteria: Check the age, income, credit score, and employment status requirements set by the bank or financial institution.
- Credit Score: A higher credit score increases your chances of approval and may result in better offers. Ensure your credit score is in good standing.
- Interest Rates and Fees: Compare annual percentage rates (APR), processing fees, late payment penalties, and foreign transaction fees. These can vary significantly between cards.
- Rewards and Benefits: Look for cards that offer rewards, cashback, discounts, or other perks that align with your spending habits.
- Credit Limit: Make sure the credit limit offered is in line with your financial needs. Avoid over-borrowing, which can lead to high-interest charges.
- Repayment Terms: Understand the repayment options, minimum payment amount, and due dates. Consider how easily you can manage timely payments to avoid interest accumulation.
- Card Type and Features: Choose a card type (e.g., standard, premium, travel, etc.) based on your requirements. Some cards offer more benefits for specific categories like travel, shopping, or dining.
- Bank’s Reputation: Opt for a bank with a good track record of customer service and transparency. Read reviews and consider their customer support accessibility.
- Hidden Charges: Be aware of any hidden fees, such as annual fees, balance transfer charges, and cash withdrawal fees.
- Credit Utilization: Ensure you can manage your spending within the credit limit to maintain a healthy credit utilization ratio, which impacts your credit score.
- Long-Term Financial Plans: Think about how the credit card will fit into your long-term financial goals and avoid accumulating unnecessary debt.
How can I redeem the reward points earned on my SBI SimplySAVE Credit Card?
You can redeem your SBI SimplySAVE reward points for gift vouchers or other offers by visiting the official SBI Card website or using the SBI mobile app. Additionally, points can be converted to adjust your outstanding balance. Typically, 1 reward point is equivalent to Rs. 0.25 when redeemed.
Can I pay utility bills using this card?
Yes, you can pay electricity, mobile, and other bills using SBI's EasyPay facility.
Can I withdraw cash using this card?
Yes, but a 2.5% cash advance fee will be charged on the withdrawn amount.
Does this card offer any fuel benefits?
Yes, you get a 1% fuel surcharge waiver on transactions between Rs. 500 and Rs. 3,000.
What is the card limit?
The limit varies depending on your credit history and SBI’s evaluation.
Can my family use the card too?
Yes, family members aged 18 or above can apply for an add-on card.
What’s the difference between SBI SimplySAVE and SimplyCLICK Cards?
SimplySAVE is ideal for daily in-store expenses like dining and movies, while SimplyCLICK is better for online shopping.
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