Are there any drawbacks to the SBI SimplySAVE Credit Card, especially when it comes to the benefits versus the fees and limitations? I’ve been hearing a lot of good things, but I want to make sure I understand any potential downsides before committing to it.
So, when I first looked into the SBI SimplySAVE Credit Card, it seemed like a great option with its solid rewards on everyday spending. But after using it for a while and hearing feedback from others, there are definitely a few things you should keep in mind before you go all-in.
First off, while the card offers some great benefits for regular shoppers—like 10X points on dining, groceries, and movies—there’s no denying that it lacks some of the premium perks you’d find on higher-tier cards. For instance, there’s no complimentary lounge access or travel benefits like some of the other cards offer, so if you’re someone who travels a lot, this could be a bit of a letdown.
Another thing to consider is the annual fee. While it’s relatively low at ₹499, it’s waived if you manage to spend ₹1 lakh in a year. For some people, that’s a pretty easy target, but if you’re someone who doesn’t typically rack up that much on a credit card, it might feel like you’re paying for a service you’re not fully using.
Now, if you travel internationally, you might get hit with a 3.5% foreign currency markup fee on any international transactions. So, if you’re planning to use the card for overseas purchases or international online shopping, that extra fee can really add up. It’s something I had to keep in mind when I went abroad because it made my transactions cost a little more than expected.
One thing that tripped me up was the expiry of reward points. They expire after two years, so if you don’t redeem them in time, you’re basically losing out on the value. I forgot to use mine at one point, and it was a bit of a bummer when I realized I had missed the deadline. Plus, there’s a small fee of ₹99 plus GST every time you redeem your points for things like statement credits or vouchers, which can feel like a bit of a drag when you’re trying to get the most out of your rewards.
Finally, if you tend to carry a balance on your card, keep in mind the interest rate. It’s pretty high at 3.5% per month (which translates to 42% annually), so if you’re not paying off your bill in full each month, those charges can snowball pretty quickly.
So, in a nutshell, this card works great for everyday expenses and casual reward earners, but if you’re looking for perks like lounge access or better international rewards, or if you tend to carry a balance, you might want to explore other options.
The SBI SimplySAVE Credit Card is good for everyday spends like groceries and dining, but it has a few downsides. Rewards on non-bonus spends are low, and the point value isn’t great. It doesn’t offer travel perks or online shopping benefits, and the ₹499 annual fee only gets waived if you spend ₹1 lakh a year. It’s a decent starter card for offline use but not ideal for travel or online rewards.