What if I say that you can save 5% on all online orders, too good to be true right. But it is true, using a Credit card. I know some people will say that credit card is bad and bla bla bla. But to be honest, you can actually save money using the credit card and if you can use it correctly, then it is the best tool to save money. The money you save is equal to the money you earn, actually its more in India. If you earn Rs 100, you have to give some tax, but if you save Rs 100, it's full 100 rupees save.
So why not save that Rs 100 and then use that money to do whatever you want. And to save money, either don't buy, or buy it cheap, or but it cheap and still save 5%. This is where the SBI cashback comes into picture. It will give you flat 5% cashback in every online order except few though. The credit card is not free and you have to pay Rs 999 per year. This fee can be reversed if you are using it for Rs 2 Lakh in a year.
So if you are using it for Rs 2 lakh in a year, you can easily save Rs 10K per year plus the Rs 999 for the fee. Even if you are not able to use it for Rs 2 Lakh and use it for Rs 20K in a year, you will get Rs 1K as cashback which means your card is free itself. So if you route all your shopping using this card then you cab easily get to the Rs 20K mark in a year. In the offline also you will get 1% cashback which is also great.
The question is why Cashback and why not reward points. For me, I have used both the cards and to be honest redeeming the points is a hassle for some of the cards as well as the reward point get expired sometimes. But with cashback, you will get the cashback in 2 days after the bill generation and this that gets available to be used in the next cycle.
