Quick Verdict

  • The Canara Bank Mastercard Gold Credit Cardⓘ wins for everyday spend with a higher base reward rate of 0.5% compared to SBI Simplyclick's 0.25%.
  • For online shopping, the SBI Simplyclick Credit Cardⓘ offers a superior 2.5% reward rate, making it the better choice for online spenders.
  • The Canara Bank card is cheaper to hold with no joining or annual fees, whereas SBI Simplyclick has Rs 499 each for joining and annual fees but offers a waiver on Rs 1,00,000 annual spend.
  • Choose Canara Bank Mastercard Gold if you want a no-fee, straightforward rewards card for general use; pick SBI Simplyclick if you shop online frequently and can meet the fee waiver threshold.

Side by Side

DetailCanara Bank Mastercard Gold Credit CardSBI Simplyclick Credit Card
Annual feeNil (lifetime free)Rs 499
Joining feeNil (lifetime free)Rs 499
Fee waiver on spendRs 1.00 lakh
Reward rate0.5%0.25% base; 2.5% online
Reward typepointspoints
Domestic loungeNoneNone
International loungeNoneNone
Forex markup3%3.5%
Best suited forrewardsshopping; first-card

Rewards Compared

Spending Rs 10,000 on the Canara Bank Mastercard Gold Credit Cardⓘ earns Rs 50 back in points, reflecting its 0.5% base reward rate. This makes it a straightforward choice for general spenders who want steady rewards without fuss. On the other hand, the SBI Simplyclick Credit Cardⓘ offers Rs 25 back on Rs 10,000 at the base rate of 0.25%, which is half that of Canara Bank’s card. However, SBI Simplyclick shines in the online category where it provides Rs 250 back per Rs 10,000 spent, a tenfold increase over its base rate, making it highly rewarding for online shoppers.

This difference in category rates means the Simplyclick card is optimized for specific spend patterns, especially ecommerce, while Canara Bank’s card maintains consistent rewards across all expenses. So, if your spending is heavily online, Simplyclick’s category boost is compelling, but for diversified spend, Canara Bank’s higher base rate wins out.

Fees Compared

The Canara Bank Mastercard Gold Credit Card is completely free to join and hold, with no annual or joining fees, making it a cost-effective choice for those wary of fees. SBI Simplyclick has a joining and annual fee of Rs 499 each. However, the annual fee is waived if you spend Rs 1,00,000 annually or about Rs 8,333 monthly. The break-even spend to cover the Rs 499 annual fee at the base reward rate is approximately Rs 1,99,600 annually, which is nearly double the waiver threshold. This means if you spend Rs 1,00,000 yearly, you avoid the fee but do not fully recoup it through base rewards alone unless your spend is heavily online.

The foreign exchange markup fee is slightly lower with Canara Bank at 3% compared to SBI Simplyclick’s 3.5%, making it marginally cheaper for international spenders.

Which One Should You Pick

The Canara Bank Mastercard Gold Credit Cardⓘ suits those who want a simple, no-fee card with consistent rewards for everyday spending across categories. It is ideal for users who prefer a lifetime free card without worrying about meeting minimum spend thresholds or fee waivers.

The SBI Simplyclick Credit Cardⓘ is better suited for online shoppers, especially those who frequently shop on ecommerce platforms and can leverage the 2.5% reward rate. It is also a good choice for first-time credit card users who want a card with a welcome Amazon gift card benefit and can commit to spending at least Rs 8,333 monthly to waive the fee.

Overall, if you want a no-fee, reliable rewards card for all expenses, pick Canara Bank Mastercard Gold. If your spending is concentrated online and you don’t mind paying a fee or meeting waiver conditions, SBI Simplyclick could serve you better. Those who rarely shop online or spend less than Rs 8,333 monthly should skip SBI Simplyclick due to its fees and lower base rewards.

What to Check Before You Apply

  • Confirm if there are any caps on the 2.5% online rewards with SBI Simplyclick to avoid surprises.
  • Understand the redemption process and value for points as both cards offer points, but details may vary.
  • Calculate your typical monthly spend to see if you can meet SBI Simplyclick’s Rs 8,333 fee waiver threshold.
  • Note the forex markup differences: 3% for Canara Bank and 3.5% for SBI Simplyclick, impacting overseas spend cost.
  • Neither card offers domestic or international lounge access, so consider if you need travel perks elsewhere.

FAQ

What rewards can I expect on everyday spending with these cards?+
The Canara Bank Mastercard Gold Credit Card offers a base reward rate of 0.5%, so you earn Rs 50 for every Rs 10,000 spent. SBI Simplyclick provides 0.25% base rewards, or Rs 25 per Rs 10,000, but offers enhanced 2.5% rewards on online shopping.
Is there any fee to join or maintain these cards?+
Canara Bank’s card has no joining or annual fees for lifetime. SBI Simplyclick charges Rs 499 as joining and annual fees, but the annual fee is waived if you spend Rs 1,00,000 annually.
Which card is better for international travel?+
Neither card provides lounge access, but Canara Bank’s card has a lower forex markup of 3% compared to SBI Simplyclick’s 3.5%, making it slightly cheaper for foreign currency spend.
Can I get the annual fee waived on SBI Simplyclick?+
Yes, the Rs 499 annual fee is waived if you spend Rs 1,00,000 or more annually, which breaks down to about Rs 8,333 monthly.
Who should avoid these cards?+
If you rarely shop online or spend less than Rs 8,333 per month, SBI Simplyclick may not be cost-effective due to fees and low base rewards. If you want travel perks like lounge access, both cards may fall short.