FinTown Rating: 4 / 5
The SBI SimplyClick Credit Card is one of the best options in the market available for first-time credit card users. With excellent rewards and offers for online shopping to go along with a minimal fee of Rs. 499 per annum, it makes for a very effective credit card for rookies. Given the card’s preferred partners such as Amazon, ClearTrip, and BookMyShow, it surely is aimed at the young, urban millennial.
The SBI SimplyClick Credit Card offers 10x rewards on online shopping at sites like Amazon, ClearTrip, BookMyShow, etc. On all other e-commerce spend, rewards are at 5x. For any other spend, rewards are at 1x. Outside this, there are special discounts for first-time spends at Amazon, BookMyShow, and ZoomCar.
All of this comes at a very low fee at Rs. 499. The fee to rewards combo makes it a very sweet deal for first-time card users.
Who is this card for?
This card is targeted for first-time or second-time credit card users who shop online at sites like Amazon and Cleartrip. Folks who want a low interest credit card or those who do not shop much online can avoid this card.
- Joining benefit
- Amazon voucher worth Rs. 500
- BookMyShow voucher worth Rs. 250 (until Nov 30, 2017)
- Low fees of Rs. 499
- Excellent rewards for online shopping at Amazon, Cleartrip, BookMyShow, FabFurnish, Foodpanda, Lenskart
- Fuel Surcharge Waiver: There is a fuel surcharge waiver of 1% on purchases above Rs. 300
- FlexiPay: Any purchases of over Rs. 2500 can be converted in EMI’s
- Add-on card: An additional add-on card can be issued to a family member as required
- High APR at 40.2%
- Poor rewards system for offline and retail spending
SBI SimplyClick Credit Card: Fees & Charges:
- Annual Fee: Rs. 499 + GST
- Joining Fee: Rs. 499 + GST
- Annual Percentage Rate (Annual Interest Rate): 40.2%
- Cash Advance Fee: 2.5%
- Overseas Transaction Fee: 3.5%
- Late Payment Fee: Rs. 100 – Rs. 750
How much money will I get in rewards and cashback?
With the SBI SimplyClick Credit Card spend of Rs. 1,00,000 across the year, one can have savings up to Rs. 4550 per year.
- 10x Rewards: For Rs. 60,000 spend in 10x online reward categories like Amazon, Cleartrip and BookMyShow, card holders makes 10 rewards points for every Rs.100 spend. So, one will make about Rs. 1500 in vouchers for their spend.
- 5x Rewards: For Rs. 20,000 spend in 5x online reward categories like other e-commerce spend, card holders makes 5 rewards points for every Rs.100 spend. So, one will make about Rs. 250 in vouchers for their spend.
- 1x Rewards: For Rs. 20,000 spend anywhere else, card holders makes 1 rewards point for every Rs.100 spend. So, one will make about Rs. 50 in vouchers for their spend.
- Milestone Reward: With a spend of Rs.1,00,000, one can get a Rs. 2000 ClearTrip voucher.
- Joining benefit: On a card user’s first credit card purchase, he/she will get Rs. 750 worth of Amazon and BookmyShow vouchers.
Which other cards should you look at?
A great alternative to this card is the YES Prosperity Cashback Credit Card: WIth a much lower APR at 28.8% and 5% cashback on groceries, movies, and bill payments, racking up those savings will be easy. The only negative compared to the SBI SimplyClick card is the Rs. 1500 annual fee compared to the Rs. 500 fee.
The SBI SimplyClick Credit Card is a great option for first-time credit card users who want to get good rewards for online shopping with a low fee. Stay away from this card if you shop a lot at physical retail stores or if you expect to be not making full payments every month towards your credit card bills.