SBI Card Rewards program is a rip-off

#1
SBI Gold Card:1 point for 100 rupees of spend. Points have an expiry date.
For a Lifestyle voucher worth 500 rupees, you need 2300 points plus 109.20 will be billed in next statement as fees.

So technically you are spending 230109.20 to get a voucher worth Rs. 500:mad:

For comparison's sake, lets check Citibank IndianOil Card:
4 points for 150 rupees of spend (fuel). Points do not expire.:thumb:
Once 500 points are accumulated, you can call their customer helpline and they deduct 500 rupees from your statement.

So technically you are spending 18750 to get a discount worth Rs. 500:thumb:

SBI beats even the Private banks in this matter. Would like to know what other members think of this.
 

deadbrain

Well-Known Member
#2
SBI Gold Card:1 point for 100 rupees of spend. Points have an expiry date.
For a Lifestyle voucher worth 500 rupees, you need 2300 points plus 109.20 will be billed in next statement as fees.

So technically you are spending 230109.20 to get a voucher worth Rs. 500:mad:

For comparison's sake, lets check Citibank IndianOil Card:
4 points for 150 rupees of spend (fuel). Points do not expire.:thumb:
Once 500 points are accumulated, you can call their customer helpline and they deduct 500 rupees from your statement.

So technically you are spending 18750 to get a discount worth Rs. 500:thumb:

SBI beats even the Private banks in this matter. Would like to know what other members think of this.
I know, I have already lost hopes in SBI reward program. Earlier it was good, but lately they have changed their mindset and hence their reward points program and are trying their best to not to give any rewards. Worthless I must say.
 

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