Choosing the right credit card can be confusing, especially when two popular options like the SBI SimplySAVE Credit Card and Cashback SBI Credit Card offer very different types of benefits. While both are entry-level cards from SBI Cards, they offer different kinds of benefits. The SimplySAVE card offers reward points for everyday expenses like groceries, dining, and movies, whereas the Cashback card offers direct cashback, especially on online spending.
Both credit cards are good options for a new credit card user, but it might be confusing for a new user to decide which card offers more value to them. In this article, we will compare both credit cards to provide clarification.
Annual Fees and Welcome Benefits
When we look at the annual fee, the SBI SimplySAVE Credit Card seems like an affordable option as it comes at a yearly fee of ₹499 + GST, while the Cashback SBI Credit Card has an annual fee of ₹999 + GST.
Both cards offer annual fee waivers. For instance, SimplySAVE offers a waiver upon annual spending of ₹1 lakh. The Cashback SBI credit card has a spend-based fee waiver if you spend ₹2 lakh in a year.
SimplySAVE offers 2,000 bonus reward points when spending ₹2,000 within the first 60 days, which offsets the joining fee. However, the Cashback SBI credit card lacks welcome benefits.
| Particulars | SBI SimplySAVE Credit Card | Cashback SBI Credit Card |
| Annual Fee | ₹499 + GST | ₹999 + GST |
| Welcome Benefits | 2,000 Reward Points on Spending ₹2,000 in the First 60 Days | N/A |
| Spend-Based Annual Fee Waiver | The Annual Fee is Waived on Spending ₹1 Lakh in the Previous Year | The Annual Fee is Waived on Spending ₹2 Lakh in the Previous Year |
Earning and Redeeming Rewards
The SBI SimplySAVE Credit Card offers 10X reward points on popular categories like groceries, dining, movies, and departmental store purchases (10 reward points for every ₹150 spent) and a standard rate of 1 point per ₹150 on all other purchases. Although 1 point is worth ₹0.25 when redeeming, a minimum of 2,000 points is required.
If we look closely, users earn accelerated reward points in specific categories at an effective rate of 1.7%, while the reward rate for regular spending is as low as 0.17%.
The Cashback SBI Credit Card has a direct cashback system. With 5% cashback on online spends capped at ₹2,000 and 1% cashback on offline spends capped at ₹2,000, with a maximum cashback of ₹4,000 per statement cycle.
| Particulars | SBI SimplySAVE Credit Card | Cashback SBI Credit Card |
| Earning Rewards |
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| Redeeming Rewards | Redeem Points for Gift Vouchers or Against the Statement Balance (1 Reward Point = ₹0.25) | Cashback Earned Will Be Automatically Credited to Next Month’s Statement |
Other Lifestyle Benefits
In terms of additional lifestyle perks, both cards offer fairly basic features, including the standard 1% fuel surcharge waiver on transactions between ₹500 and ₹3,000. Both cards support worldwide acceptance and contactless payments. While neither offers premium lifestyle features like airport lounge access or complimentary travel services, they do allow free issuance of add-on cards, which can be beneficial for family usage.
Bottom Line
Both credit cards are good options for beginners, but the better choice depends on your spending habits. If you mostly spend online, the Cashback SBI Credit Card is a better option because it offers 5% cashback that saves you from the hassle of redeeming points. Although it has a higher annual fee, the cashback benefits can easily make up for it.
On the other hand, the SBI SimplySAVE Credit Card is suitable for those who spend more on everyday categories like groceries, dining, and movies, and prefer a lower annual fee with basic rewards. Its reward value is comparatively lower and less convenient.
For most users today, especially those who shop online frequently, the Cashback SBI Credit Card provides better value and is the smarter choice.