Paytm SBI Credit Card Review

General Information

Rewards and Benefits

Fees and Charges

Summary

For every Rs. 100 spent on Paytm Mall, movies, and travel, you will receive a 3% cashback. On all other purchases made on the Paytm App, you will receive a 2% cashback for every Rs. 100 spent. For any other offline or online transactions, you will receive a 1% cashback for every Rs. 100 spent. Additionally, you will also receive a complimentary Paytm First membership worth Rs. 899. In the event of a fraudulent transaction, you will be protected with a liability cover of Rs. 1,00,000. Furthermore, for fuel transactions between Rs. 500 and Rs. 3000, you will receive a fuel surcharge waiver of 1%.

The Paytm SBI Credit Card is a shopping-oriented card that comes with a joining fee of Rs. 499 + GST and a renewal fee of Rs. 499 + GST.

It is designed to provide you with a great shopping experience and offers convenient rewards in the form of Reward Points.

One of the standout features of this card is the welcome benefit of a complimentary membership to Paytm First worth Rs. 899.

This adds significant value to the card right from the start.

When it comes to earning rewards, this card excels in the shopping category.

You can earn 3% Cashback on every Rs. 100 spent on all Paytm Mall, movies, and travel.

Additionally, you can earn 2% Cashback on every Rs. 100 spent on all other purchases on the Paytm App.

Moreover, you can also earn 1% Cashback on every Rs. 100 spent on any other offline or online transactions.

The card does not offer specific benefits for movie dining, travel, domestic lounge access, international lounge access, golf, or insurance.

However, its focus on shopping rewards more than makes up for this.

In terms of fees, there is a rewards redemption fee of Rs. 99 while redeeming specific vouchers, gifts, and cash redemption.

The foreign currency markup is 3.5% of the amount transacted, which is a standard rate for most credit cards.

The interest rate for this card is 3.50% p.m. (42% p.a.), which is on the higher side.

Therefore, it's advisable to pay off the card balance on time to avoid incurring interest charges.

One positive feature of this card is the fuel surcharge waiver of 1% at all fuel stations in India.

This can result in significant savings for those who frequently use their card for fuel purchases.

If you need cash in an emergency, you can avail of a cash advance of 2.5% of the amount withdrawn, subject to a minimum of Rs. 500.

Overall, the Paytm SBI Credit Card is a solid choice for those who love to shop.

With its attractive rewards program and welcome benefit, it offers great value for money.

However, it is important to be mindful of the higher interest rate and potential fees associated with this card.