SBI Simply Save credit card is yet another entry-level credit card from SBI. If one imagines the Simply Save and Simply Click credit cards as the actors in the popular sitcom Two and a Half Men Simply Save would be the poor younger brother Alan Harper and Simply Click would be the popular and suave Charlie Harper.
What makes the Simply Save credit card poor Alan Harper? Read on to find out.
About SBI Simply Save Credit Card
Fees and Eligibility:
- Joining fee and Annual fees of INR499 + GST. Annual fee reversal on spending INR100,000 in a year.
Rewards and Benefit:
- Joining Benefit:
- Spend INR2000+ in the first 60 days and get 2000 reward points
- Recurring Benefit:
- Reward Points:
- 1 Reward point on every INR100 spent. 1 Reward point = 0.25 paisa (0.25% reward rate at the best)
- Accelerated Reward Points:
- 10X Reward points (2.5% reward rate) on every 100 spent offline on Dining, Movies, Departmental Stores and Grocery Spends.
- 1% fuel surcharge waiver
Why SBI Simply Save Credit Card is the poor brother Alan?
At first, SBI Simply Save appears to be a decent credit card offering 10x reward points on nearly all offline spends. However, what it means is most of the recurring spends such as utility bills, mobile bills and insurance premiums whether done online or offline will earn only 0.25% reward rate. Besides, all the online spends will earn a meagre 0.25% reward rate, which is pathetically low.
Also, I don’t remember when was the last time I bought movie tickets from the box office. What it means that it is one less category where I will 10x reward points.
Further, there are no milestone benefits whatsoever to encourage higher spending on this card and to improve reward rates.
That’s not all, for this credit card most of the redemption vouchers value 1 reward point at less than 0.25 paisa. And surprisingly, Amazon vouchers are not a redemption option for Simply Save credit card. The only decent redemption option, I found was the Big Bazaar e-voucher giving a value of 25paisa for every reward point. [Edit: One can always opt for statement credit, which gives a value of 25paise. Thanks Prathmesh for pointing this out.]
All this when compared to SBI Simply Click Credit Card, makes it clear that Simply Save Credit Card is an inferior option.
In case you have an SBI Simply Save Credit Card, talk to customer care and exchange it for SBI Simply Click at the earliest. If you are planning to get the Simply Save credit card, I would say don’t settle for poor Alan when you can get the popular and suave Charlie Harper. Having said that, the best thing would still be getting the ICICI Amazon Pay credit card, provided one gets an invite for it.