SBI Card, Google Pay launch new credit card with Rs 18,000 annual rewards | Personal Finance

Google Pay and SBI Card have launched a new co-branded credit card aimed at making everyday spending more lucrative for users. Called the Google Pay Flex SBI Card, the card promises rewards worth up to Rs 18,000 annually, offers flexible bill repayment options and allows customers to manage the entire credit card journey within the Google Pay app.

 

The launch comes as digital payments expands rapidly in India, with more consumers using UPI and contactless payments for routine expenses. The new card seeks to combine the convenience of Google Pay with SBI Card’s credit offerings, targeting users who frequently spend on groceries, utility bills, travel and shopping.

 
 

The Google Pay Flex SBI Card rewards users with “Stars”, Google Pay’s reward currency, on eligible transactions. Customers can earn up to 8 Stars for every cumulative Rs 500 spent, depending on how much they spend in a billing cycle. According to the companies, cardholders can accumulate rewards worth as much as Rs 18,000 in a year. One Star is equal to Rs 1 and can be redeemed instantly while making eligible payments through Google Pay or exchanged for vouchers available on the app.

 

Unlike many traditional reward programmes that require users to redeem points separately, the card allows rewards to be adjusted instantly at the time of payment, making the redemption process simpler.

 

 

The rewards programme is designed around categories that many households use regularly. Eligible transactions include:

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  Grocery purchases
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  Utility bill payments
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  Travel bookings
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  Shopping
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  Online and in-store merchant payments

 

The card is also integrated with the Google Pay app, allowing users to apply for the card, monitor spending, redeem rewards and manage their account digitally without switching between multiple platforms.

 

The Google Pay Flex SBI Card is available on both RuPay and Visa payment networks.

 

Customers choosing the RuPay variant can link the card to UPI, allowing them to make credit card payments at millions of merchants that accept UPI. Both RuPay and Visa variants can also be tokenised on Google Pay, enabling secure tap-to-pay transactions at compatible merchant outlets.

 

The addition of UPI-linked credit card functionality reflects the growing acceptance of credit on India’s UPI ecosystem, giving users another payment option beyond debit-linked UPI accounts.

 

 

The card carries a joining fee of Rs 499 plus applicable taxes, which is also charged as the annual renewal fee. However, the renewal fee is waived if the cardholder spends Rs 1 lakh in the previous year.

 

New customers receive welcome benefits worth Rs 1,000, including:

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  Rs 500 credited after the first payment made through Google Pay.
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  Additional Stars worth Rs 500 after payment of the joining fee.

 

Cardholders can also unlock higher reward rates by crossing monthly spending milestones. Customers spending over Rs 15,000 in a billing cycle can earn up to 4 Stars for every Rs 500 spent, while those spending over Rs 30,000 can earn up to 8 Stars per Rs 500 spent on eligible transactions.

 

Besides rewards, the card also offers flexibility in repayments. Users can convert their latest outstanding credit card bill into equated monthly instalments (EMIs), helping spread large payments over multiple months.

 

What should consumers keep in mind?

 

While the headline figure of up to Rs 18,000 in annual rewards is likely to attract attention, consumers should note that the maximum benefit depends on consistently meeting spending thresholds and making eligible transactions throughout the year. Those with lower monthly spending may earn fewer rewards.

 

Prospective applicants should also compare the card’s annual fee, reward structure, redemption options and spending requirements with other cashback and rewards credit cards before applying. The ability to use the RuPay version on UPI and redeem rewards instantly through Google Pay may appeal particularly to users already active within Google’s payments ecosystem.

 

SBI Card said the partnership aims to make payments simpler while combining convenience, rewards and security for customers. Google Pay said the offering is intended to make digital credit as accessible and seamless as everyday UPI payments.