Jan 10, 2013 11:58 AM
5483 Views
Took this "SBI Gold and More Card" one unfateful day when I visited bank. The lady caught hold of me and my friend and started telling benefits of this card
Benefits:
Shop for Rs 2000 or more in 60 days and get 2000 points equivalent to Rs 500 annual fee.
0 surcharge for using card for petrol
25% off on movie tickets booked on weekends through bookmyshow
Book train tickets and no extra charges like extra bank charges.
Many more etc etc.
To avail this I need to put a security deposit of Rs 20K. Did you ever heard about this? I didn't. As I was new and hence I paid this deposits. But now when I realized my mistake I tried to cancel it, but the lady of the bank was too sweet not to pick up the phone. When I tried to cancel it through the customer care of SBI the lady called me and begged me to take the card. I think she desperately need some commission. Ok my brain was washed. I took the card. Shopped for Rs 5000 as soon as the card arrived and waited for the bill to arrive. Bill came. Can you believe it? It was Rs 5.6k approx.
What? Serious? Annual fee Rs 499+taxes included. Tax inclusive? No 2000 bonus points too.
So, about the benefits I mentioned,
Got only 500 points bonus, They said the lady at office gave wrong info. But in there website was clearly mentioned. No Reply when I sent the screen shot of the promise of 2000 points
Surcharge on petrol if u spend Rs 500 or more. Who will buy Rs 500 worth petrol for bikes?
25% off on movie tickets only for first 2000 VISA card people. So are they really giving this offer?
No bank charges on train tickets but 1.8% transaction charges included which is more than bank charges.
Never use your credit card to get money from ATM. You will be charged with high interests.
One funny thing, one cashback offer somehow worked. Got Rs 185 back but these people cut 2 points from my accumulated points.( Coz for every Rs 100 we shop we get 1 point.)
So my points were cut as I got cashback. Other credit cards give 1 point for every Rs 40 spent and they don't cheat. My friend uses Citibank credit card and he is pretty satisfied too.
Lastly, they still have Rs 20K as security deposit for the card. After cancelling the card it will be refunded in 30 days from the day they recieved the application. What s**t? When required you debit my account the very next day Rs 20K but to give back 30 days from the day they recieve my letter. So it will be more than 30 days to get my money back.
Being a Nationalized Bank, I didn't expect this from SBI. Other banks like HDFC, Citi gives credit cards free without deposit and with handsome credit limits. I would never recommend SBI credit Card to my friends or anyone.
Hope few of the Indian Citizens gets saved reading this Review.
Thank You.
