SBI Card - now the most trusted Credit Card

SBI Card has received the title of the most trusted brand in credit card segment. The title was conferred by Reader's Digest Asia Trusted Brands Survey. SBI Card has been voted as the best since the last three years.

The card mainly focuses on customer directed activities. The 250 service camps laid recently had been a part of this move. The camps helped SBI Card reach 2,10,000 customers across 31 Indian cities.

Which Low interest Credit Card to Apply?

SBI Card in the only credit card in India which facilitates its customers with 13 different modes of payment.

Last year, SBI Card won several Indian and Asian awards including the most trusted brand in credit card category in the Reader's Digest Asia Trusted Brands 2009 Survey, a consumer choice award from CNBC Awaaz and ‘Asia's Best Mature Captive Services Delivery' award from the Shared Services Outsourcing Network (SSON).

Reader's Digest Asia Trusted Brands Survey was came into existence in 1999 and has successfully been carried out so far.

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SBI Card and eBay Cash back offer

SBI Card and eBay India have come together with cash back offer for all the existing SBI Credit Card holders. So you will need to use your SBI Card to make the purchase at eBay. There are actually three categories of cash back which can try using this offer. That is 7.5%, 10% and 15%. It depends on the spend you make at eBay using your SBI Card. The maximum discount you can get with this offer is Rs. 1000.

If your purchase value is between up to Rs. 2499 then you cash back amount will be 7.5%. Similarly if your purchase value is between Rs. 2500 and Rs. 4999 your cash back would be 10% and likewise if your purchase is above Rs. 5000 you will get 15% cash back into your SBI Card within 21 days of your purchase. As said above the maximum cash back you can get is Rs. 1000.

Co-branded credit cards - Pros and cons

To avail this offer, you will need to visit eBay.in and register for free and if you already have an account with eBay.in then login to your account. Search and find the product that you want to buy. After adding the same to your shopping card, then use the coupon code SBICARD123 at the appropriate place to be eligible for the cash back into your SBI Card. Then pay using your SBI Card. And that’s all. You will get your cash back according to the purchase value, into your SBI Card account within 21 days of your purchase.

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The Aditya Birla Group-SBI co-branded credit cards

The Aditya Birla Group and SBI Card has announced a partnership to offer co-branded credit cards to all customers of the Aditya Birla Group companies.

The Aditya Birla Group-SBI co-branded credit cards will be available to over 28-million customers of Aditya Birla Group companies--Aditya Birla Retail, Aditya Birla Financial Services Group (which includes Birla Sun Life Insurance and Birla Sun Life Mutual Funds), IDEA and Madura Garments. 

When Cards become Foes

The initiative will be led by the financial services arm of the Aditya Birla Group -- Aditya Birla Financial Services, the release said.

The Aditya Birla Group already has a strong presence in the financial services business, as a significant player in the non-bank space. The card will be made available across more than 2000 retail outlets of Aditya Birla Group companies.

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SBI - Spicejet Cobranded Card

Budget air-carrier, SpiceJet and public sector lender, State Bank of India, today launched their co-branded credit card SBI SpiceJet which offers a host of benefits to the airline's customers.

The offering under the credit card includes an absolutely free SpiceJet air ticket (inclusive of all taxes and surcharge and valid across all sectors and flights), a company press release said here.

A completely free SpiceJet air ticket on enrolment to the SBI SpiceJet Card and completely free SpiceJet air ticket on spends above Rs 1 lakh in a year, are some other benefits that a card-holder can avail, the release said.

The free air ticket is also inclusive of all taxes and surcharge, it said.

Besides, a customer would also be entitled to a Rs 1,000 SpiceJet discount voucher on enrolment to the SBI SpiceJet Card, which is redeemable against a SpiceJet return air ticket, the release aid.

We are pleased to introduce these new benefits for our SBI SpiceJet customers. Bringing new products that offer greater value to our customers has been an ongoing endeavour for us at SBI Card," SBI Card CEO, Diwakar Gupta," said.

This association with SBI card is yet another innovative step towards that and the airline is sure that its customers would find this to be meaningful for them, SpiceJet CEO, Sanjay Aggarwal, said.

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SBI's Master Card Moments Offer

Use your SBI Card and avial special discounts and offers on following Brands.

ADORA - 17% off on Adora Jewelry.

ALLEN SOLLEY - 15% off on all Allen Solley watches

THE APOLLO CLINIC - Special health packages for Master Card holders.

BENQ - 10% off on Benq Joy Books.

BIG FLIX - Buy 3 months subscription and get 1 month subscription of Big Flix free.

CAFÉ GADGETS - Rs.500/- off on minimum purchase of Rs.3500/-.

CHOICE HOTELS - 15%-25% off on Room Tariffs

GKB OPTICALS - 10% off on all purchases (except Rayban, Oakley, Killer Loop and accessories) and Free eye test for all Master Card holders.

LEMON TREE HOTELS - 10% off on all packages

PARKER - 50% off on selected Parker Pens on MRP.

PIERRE CARDIN - 10% off on Pierre Cardin watches

SANGINI - 12% off on min purchase of Rs.5000/- and above.

SPARKLES - 15% off on Sparkles Jewelry.

WEL HOME - 10% off on purchase of Rs.1000/- on home furnishing

RELIGARE SRL DIAGNOSTICS - 25% off on well women packages & 10% off on all other tests

All the above offers are valid till 31^st December 2009. For more information and terms and conditions long on to official SBI cards site.

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SBI Card Offer on Reebok

SBI Card and AVA Merchants have come together with an offer exclusively for the SBI Card holders on Reebok merchandise. Where you can get the Reebok products and unbelievably more than 50% discount from the original price if you use your SBI Credit Card to buy them. This is a limited period offer and is valid only till the stocks last or till July 15, 2009. It is not available online but only via the special phone numbers with which you can order them.

The first is the Cool Combo Offer or Reebok Combo Offer in which you get a Reebok duffle bag, Reebok sports shoes, and Reebok T-shirt combo for a special SBI Card price of Rs. 2799 as against the original price of Rs. 5798. This price supposedly includes the shipping charges as well. The shoe sizes available with this offer are 6, 7, and 8. The T-shirt size is L. There will not be any exchange or return available in this offer and hence buy it with caution in case the size does not fit you, etc. The product code for this product is B054 (size 6), B055 (size 7) B056 (size 8).

The other offer on Reebok is that you can get the special Reebok sunglasses worth Rs. 4990 for just Rs. 990 which is the special price only for the SBI Card holders. The product code is B053. This will help you while ordering the product via phone. This is indeed a whopping discount if it is indeed a Reebok sunglass.

To order you will need to call the special call center numbers 1800 11 4344 or 1800 1800 300 or 0124 4697999. The number will be open from 9 a.m. to 7:30 p.m. and till 6 p.m. on Sundays. This offer is available only in select cities and hence call to confirm whether your city is listed in that

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SBI Cards in Loss

The rising default rate in the country is likely to affect the growth of the second largest card issuer in the country, SBI Cards. The company is expected to report a loss for the second time in a row.

In a recent report by credit rating agency, CRISIL, it was stated that SBI Cards & Payment Services Ltd is expected to report some more losses in the 2008-09 because of credit costs and lower fee income. Similarly, the largest card issuer, ICICI Bank has also been facing defaults that have been mounting in the recent past. As a result both the issuers have been tightening salary and other norms of their credit cards. SBI's credit checks have increased and the minimum salary criterion for issue of cards has been revised from Rs 1.44 lakh to Rs 2-2.4 lakh per year.

Defaults for ICICI have also been rising but the rate is still low. Sachin Khandelwal, Head-Credit Cards, ICICI Bank, said: "In 2007-08 the credit cards business grew by 20 to 25 percent. We had done 1.5 million cards in 2007-08 which has been reduced by 60 percent in the first 10 months of 2008-09. The credit losses have increased by more than 1 percentage point (of the spread between lending rates and cost)."

As on September 30th 2008, SBI Cards reported a loss of Rs 60 crore on total income of Rs 440 crore. During the last fiscal, SBI Cards suffered a loss of Rs 150 crore and it is expected to continue the trend. "We have consciously slowed down sourcing customers by more than 50 percent from a peak of 1 lakh cards a month last year to 20,000 to 30,000 a month now to ensure a good portfolio. It's a difficult market. We have consolidated this year and are better placed to tackle losses," said a senior official of SBI Cards.

In its latest report, rating agency ICRA said that SBI Cards would need to expand its capital in order to meet the regulatory norms.

SBI Cards is 60% owned by State Bank of India (SBI) while US-based GE Money has its control over the remaining 40%.

SBI Card's Har Din Jackpot Offer

SBI Cards has introduced another contest or jackpot sort of offer namely Har Din Jackpot, where you will have a chance to win Maruti Suzuki A-star cars, holiday to Mauritius sponsored by Thomas Cook, or even Samsung 22” LCD TV by way of lucky draw conducted every day. All you need to do is to use your SBI Card to shop for Rs. 2500 or more during this offer period to be entered into this lucky draw to choose the winner automatically without doing any other calculations or entering in any contests, etc.

With this offer, every Rs. 2500 you spend using your SBI Card will let you enter in the lucky draw that is being conducted every day during this offer period to win Samsung 22 inch LCD TV everyday or other prizes. Hence even if you shop for Rs. 5000 will make you to be entered into the lucky draw twice for the given day. If you spend for 7500 on any given day, you will be entered into the lucky draw thrice on that day. But your single purchase should be a minimum of Rs. 2500.

You will have a chance to win a Samsung 22 inch LCD TV everyday. A Thomas Cook Holiday to Mauritius for a couple every week and also a chance to win the latest Maruti Suzuki A-Star every fortnight. Hence you will get a chance to win 6 Maruti Suzuki A-Star, 12 Thomas Cook Holiday or 90 Samsung LCD TV during this offer period.

To make it simple, to be entered into this draw automatically, all you have to do is to use your SBI Card whenever you shop for Rs. 2500 and more and that’s all.

Unfortunately, this offer is not valid in Tamil Nadu, i.e., in Chennai. ;-) This is because lottery or jackpots are banned in Tamil Nadu. And the above contest is purely a jackpot or lottery sort of offer without giving the option like completing a slogan or answers to complete to decide the winner.This offer is valid from January 10, 2009 to April 9, 2009. To know more about this offer visit this page.

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SBI Card and AVA the Dream Merchants Offer

Very similar to that of ICICI Bank Credit Card and AVA offer, even SBI Cards have entered into a special deal with AVA Merchants to come up with an offer where you get various products from AVA Merchandising at special discounted price exclusively for the SBI Card holders and available only for them. This is also a limited stock offer and hence will need to hurry if you are planning to buy them.

To start with, you can get the Swatch Irony Black Chrono watch which is said to be worth Rs. 6300 for a special SBI Card price of Rs. 2990. You can also buy them using the EMI option available with SBI Cards at Rs. 534 for six months. The product code of this product is B023 (to make it easier for you to order through phone). This watch also comes with two year international warranty.

Philips cordless phone can be brought for Rs. 1990 as against the original price of Rs. 2990. The product code is B025. This comes with an one year warranty.Some of the other products which you can buy using this AVA and SBI Card offer are: (original price in brackets).

Verona Strolley Bag – Rs. 2290 (Rs. 4990) (Product Code: B027)

Blumax Mono Headset – Rs. 1300 (Rs. 3990) (Product Code: B024)

Coby 2 GB MP4 Player – Rs. 3990 (Rs. 7999) (Product Code: B026)

Victoria watch & Jewelry Set – Rs. 1290 (Rs. 2990) (Product Code: B028)

Berg Tandoor – Rs. 1750 (Rs. 2750) (Product Code: B029)

5.1 CH Home Theater – Rs. 5290 (Rs. 9980) (Product Code: B030)

You will need to call AVA at their toll free numbers 1800-1800-300 or 1800-11-4344 or their regular number at 0124-4697999 to place your order during regular working hours on all days except Sundays. You can also place your order through SMS by sending a message “AVA SALES” to 55050. You can order only through the above options and cannot order it online anywhere.

This offers is valid till March 31, 2009 or till stocks last. You will need to contact SBI Card helpline at 1800-180-1290 to convert your purchases into EMIs. You will get the product within 21 days of your ordering.

Although the prices seem somewhat reasonable to me, since I have not tried any products from AVA Merchandising yet and hence cannot comment on the quality of the products, unlike Deals4all offers where I have used their service and hence have commented about the product quality in my previous posts here. Hence buy them if you are not too concerned about the product quality and are satisfied with the discounted price mentioned above.

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SBI Card - Travelguru Dream Holiday Offer

Travelguru, India’s Largest Hotel Network, has entered into an exclusive arrangement with SBI Card. Under the Offer, SBI Platinum Credit Cardholders can avail Flat 15% discount while all other SBI Credit Cardholders can avail Flat 10% discount on domestic hotel & holiday bookings done through Travelguru by using SBI Credit Card.

Customers can book a Hotel/ Holiday from 5th January 2009 till 31st March 2009 for any travel/stay date by logging onto www.travelguru.com or the Travelguru reservation centre (8 am – 10 pm) by calling on 022 – 40304878 or any of the Travelguru retail outlets across India (Mumbai, Pune, Bangalore, Indore).

Sharing the broad construct of the offer, Ashwin Damera – Founder & CEO, Travelguru said “We are pleased to introduce the Dream Holiday Offer in association with SBI Card. Through Travelguru’s recent travel research, we discover that an Indian travels at least twice in every six months for leisure and at least four times in every six months on business. It is to make this Hotel or Holiday experience much more affordable and fun-filled that Travelguru is offering upto 15% discount on all domestic bookings done by any SBI credit cardholder.”

Commenting on the tie-up, Manish Jain, Chief Marketing Officer, SBI Card said “At SBI Card we are always looking at opportunities to provide more value to our customers, and to make their life simple. The tie-up with Travelguru provides our Cardholders a great opportunity of booking hotels and holidays across various cities at an exclusive discount, and that too through an extremely simple tele-booking and online process”.