Seeking Help About SBI Credit Card Application

[IndiaN]

Today i got call that i have pre approved sbi credit card. Just have to visit home branch and do ekyc. So should i go for it as don't have knowledge about credit card. What are the charges and things to consider.

Thanks in Advance

 

[Zmint]

do you have(use) netbanking ?
do you use your ATM (Debit) Card for shopping and online purchases (pay bills, buy things etc.) ?

 

[Kiran Reddy]

Bro I have heard lot of negative reviews about SBI credit cards, though as a bank they are good but not in credit cards.

They will charge you annual fee of 500 rupees, I would suggest you to go for credit card from same bank where you have salary account or savings account from long time so that they waive annual fee.

 

[karan_hdl]

Today i got call that i have pre approved sbi credit card. Just have to visit home branch and do ekyc. So should i go for it as don't have knowledge about credit card. What are the charges and things to consider.

Thanks in Advance

I don't use SBI credit card but I use a different Bank Credit card.

There is no charges on your monthly spends if dues were cleared within payment due date every month.

But there is Annual membership fee around Rs.500 which will be waived off if the Annual spending crosses certain amount set as per the terms & condition.

You have to become familiar with certain things after the card is issued ie billing dates one is statement date and another is due date and it will follow certain monthly cycle for example if your statement date is 10 th of every month your spends done between 10th of current month to 10th of preceding month will be calculated and you will pay it in next 20 days after statement date ie your payment will be due on 30 th,the entire cycle from your spending starting day to payment due date will be 50 days.

If you keep up your payment due date correctly and make payments regularly Credit card will be a big boon and as you use you can understand its benefits, you need not borrow from anyone,you can use your credit card for almost everything.

 

[IndiaN]

do you have(use) netbanking ?
do you use your ATM (Debit) Card for shopping and online purchases (pay bills, buy things etc.) ?

Yes

 

[Zmint]

Yes

Please read the reply by @karan_hdl bro
He have explained almost everything you need to know.
I am sure in the beginning, it is a little confusing concept in terms of billing cycle, bill due date etc. but once you get the card it will be quite easy.

 

[vikhyath]

Personally, I would suggest not to go for SBI Credit Card.

I agree with @Kiran Reddy. Go for credit cards where your salary account belongs. You don't need to call cc and submit documents in future if you want limit enhancement. Automatically most banks increase your limit once your salary increases (Ofcourse after taking your consent).

Make sure to clear outstanding amount on time when ever possible. Because it may reflect your cibil score if no proper payments are done. What matters these days for getting loans or any financial assistance depends on your cibil score. So, Play safe!

 

[IndiaN]

Bro I have heard lot of negative reviews about SBI credit cards, though as a bank they are good but not in credit cards.

They will charge you annual fee of 500 rupees, I would suggest you to go for credit card from same bank where you have salary account or savings account from long time so that they waive annual fee.

Personally, I would suggest not to go for SBI Credit Card.

I agree with @Kiran Reddy. Go for credit cards where your salary account belongs. You don't need to call cc and submit documents in future if you want limit enhancement. Automatically most banks increase your limit once your salary increases (Ofcourse after taking your consent).

Make sure to clear outstanding amount on time when ever possible. Because it may reflect your cibil score if no proper payments are done. What matters these days for getting loans or any financial assistance depends on your cibil score. So, Play safe!

Bro I have sbi sb account and mostly transacting on that only

 

[Zmint]

Also note that most of the Credit Card Issuing authorities also run a reward program.
It means when you spend money with your credit card they give you points which keep adding on with time. One you have enough accumulated points, you can check their reward catalogue to exchange points with good or services they offer.
Personaly I got many such rewards as Panasoinc Automatic Rice Cooker, Tuperware Merchandize, Bajaj Induction, 2 (Two) Samsung Smartphones etc. and many more.

Bro I have sbi sb account and mostly transacting on that only

if you have no other bank option. then I think you should go for it. no harm in it.
once you get the card, just remember
1) to disable Internationl transacations until you need them.
2) set a limit to how much you can spend in a day
3) you should opt for Autopay.
These setting you can easily find in netbanking.

 

[vikhyath]

Bro I have sbi sb account and mostly transacting on that only

Is that your salary account too?