Sep 18, 2011 04:28 PM
11348 Views
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
For comparison's sake, lets check **Citibank IndianOil Card**:
4 points for 150 rupees of spend(fuel). Points do **not **expire.
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
SBI beats even the Private banks in this matter. To add insult to injury, I got an SMS that they will dispatch a cheque of 17200 when I had not requested any such thing. They also deducted 258 for service tax. What do you think I should do if the cheque arrives? Should I return it to the courier? Should I take the help of police?
