SBI SimplyCLICK Credit Card Review

SBI SimplyCLICK Credit Card is one the best credit cards for first timers in India which provides 10X rewards on shopping at Amazon, BookMyShow, UrbanClap etc. This card also provides 5X rewards on other online spends irrespective of merchant which is quite awesome. With low annual fees and salary requirements, this is a really good card to have in possession if you spend online a lot.

SBI SimplyCLICK Credit Card has an attractive design with light green abstract markings on a deep green background. The card is issued on both Visa and MasterCard platform and is enabled for contactless payments.

• Eligibility Criteria
• Fees
• Features
  • Welcome Benefit
  • Milestone Benefits
  • Reward Points
  • Finance Charges
• Drawbacks
• Verdict

Eligibility Criteria

Though SBI Card has not disclosed the eligibility criteria for SimplyCLICK Credit Card, I gathered following information from their executive:

• Age: Minimum 21 Years
• Salaried: Net Monthly Income > Rs. 25,000 per month
• Self Employed: ITR > Rs. 3 Lakhs per annum

SBI Card is very strict about credit history and there is a high chance of rejection if you don’t have credit history or your credit score is low.

Chance of approval for SBI Credit Cards increases multifold if you have an existing credit card and are salaried.

Fees

SBI SimplyCLICK Credit Card comes with following fees:

• Joining fee: Rs. 499 + GST
• Renewal fee: Rs. 499 + GST

Renewal fee is waived off if spend in previous year is more than Rs. 1 Lakh. SBI Card generally doesn’t issues credit card life time free and one needs to pay the annual free every year if they are not able to meet the spending criteria for fee waiver.

Features

SBI SimplyCLICK Credit Card is tailored for personnels whose major portion of monthly expenditure is online. Hence the rewards and features are tailored to give maximum benefit on online spends.

Welcome Benefit

• Amazon gift voucher worth Rs. 500

Amazon voucher code will be sent on customer’s registered mobile number within 30 days from payment of membership fee. It quite evident that SBI Card compensates for joining fees by providing voucher of equivalent amount.

Milestone Benefits

• Cleartrip e-voucher worth Rs.2,000 on annual online spends of Rs. 1 Lakh
• Cleartrip e-voucher worth Rs.2,000 on annual online spends of Rs. 2 Lakhs

That’s an additional 2% reward rate on achieving a spend of Rs. 2 Lakhs.

Reward Points

• 1 Reward Point = Rs. 0.25
• 10 Reward Points per Rs. 100 on online spends with exclusive partners - Amazon, BookMyShow, Cleartrip, Lenskart, Netmeds, Rentomojo, UrbanClap, 2.5% reward rate
• 5 Reward Points per Rs. 100 on all other online spends, 1.25% reward rate
• 1 Reward Point per Rs.100 on all other spends, 0.25% reward rate
• Reward points can be redeemed from rewards catalogue (Amazon & Cleartrip vouchers available)
• Reward redemption fee of Rs. 99 + GST applicable on each redemption

Redeem reward points only after accumulating a good amount to minimize the loss due to redemption fee.

Though SBI Card mentions in their T&C that wallet transactions are not eligible for 10X rewards, I have been getting 10X reward points on adding money to Amazon Pay wallet and 5X reward points on adding money to Paytm. Good thing is, there is no maximum cap on bonus reward points unlike HDFC 10X Rewards Program.

Finance Charges

• Foreign Currency Markup of 3.5%
• Revolving credit at interest rate of 3.35% per month
• Convenience fee waiver of 1% on all fuel transactions between Rs. 500 to Rs. 3,000

Drawbacks

Though SBI SimplyCLICK Credit Card provides great benefits, there are some drawbacks too:

• Low reward rate on offline spends: The reward rate of 0.25% on offline spends is really low. I wish, SBI Card should have provided a better reward rate given that recently launched co-branded credit cards provide way better reward rate than this.
• Limited options for Reward Redemption: There is no option to redeem reward points for statement cash. Also a charge of Rs. 99 for redeeming reward points is a big bummer.

Verdict

SBI SimplyCLICK Credit Card is really a good card for those who spend a lot online. Bonus reward points on wallet loading is something which not many credit cards provide. SBI Card has been aggressive these days and has partnered with Flipkart and Amazon during their yearly festive sales. I would suggest you to have one SBI Credit Card in your kitty just for these exclusive online offers and there is no better offering than SimplyCLICK for online spends.

Fees 4/5

Rewards 4.5/5

Features 2/5

Overall 3.5/5

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What do you think of SBI SimplyCLICK Credit Card? Let me know in comments below.