SBI Cashback credit card official benefits revised w.e.f. 1st May 2023

[BhaiyaJi]

REVISION OF BENEFITS ON CASHBACK SBI CARD:

With effect from 01 May 2023, following changes will be applicable on your CASHBACK SBI Card:

A. Below categories will not be eligible for Cashback benefit, apart from existing exclusions:

Category	Merchant Category Code (MCC)
Jewelry	5051, 5094, 5944, 7631
School & Educational Services	5111, 5192, 5942, 5943, 8211, 8220, 8241, 8244, 8249, 8299, 8351
Utilities	4814, 4900, 9399, 4816, 4899
Insurance Services	5960, 6300, 6381
Card, Gift, Novelty & Souvenir Shops	5947
Member Financial Institution/Quasi Cash	6011, 6012, 6051
Railways	4011, 4112

The Merchant Category Codes are defined by the Networks and are subjected to change basis their discretion and such changes shall be implemented basis communication from the Networks without any requirement for intimation/information to the customers.

B. Maximum Cashback that can be earned on online & offline spends in a statement cycle will be capped at `5000.

C. Complimentary Domestic Airport Lounge benefit will be discontinued.

https://www.sbicard.com/sbi-card-en/assets/docs/pdf/tnc/tnc-Cashback-Card-Revision.pdf

 

[pprakash11]

Bhai abhi bhi 1 month ki chandani baaki hai... Loot lo chandani 😁

2 lac spend toh ho hi gaya hai.. bas extra expenses kro is 1k mahine me 🤣 🤣 🤣 🤣

 

[jimmypappachan]

I don't care about lounges. Card has no joining fee and I already achieved spend based annual fee waiver, so card is free for 2 years.

Same here bro. I have also achieved an annual spends target for this card so I will keep this card for one more year.

Usually, when is the annual fee deducted from SBI cards? Starting of the Financial year or later?
Since the cashback card is joining fee waived, when will the deduct annual fee.. at starting 2nd year or in between/last of 2nd year?

 

[panu24]

Usually, when is the annual fee deducted from SBI cards? Starting of the Financial year or later?
Since the cashback card is joining fee waived, when will the deduct annual fee.. at starting 2nd year or in between/last of 2nd year?

start of the every card year

 

[ps121]

revised limit

 

[panu24]

revised limit

Well limit is not the correct word here. Maybe you can write "revised Cashback per month for Cashback card"

 

[jimmypappachan]

start of the every card year

Annual/Joining fee is deducted in the 1st month statement and Renewal fee in the 13th month from your SBI card activation date.

So I got CB card in March .. Annual fee will be debited in April 2024 ri8? OK 👍
Till now my spend is 1.15 lacs. May cover milestone for waiver easily before that time.

 

[wolfdalalstreet]

This is such a market disrupting move (in a negative sense) by SBI. Probably the news of the year so far. The devaluation is across the categories leaving very less advantages. The premise of SBI CC made it like a must have card, specially with the FYF. SBI better be ready for mass closures in the 11th/12th month.

 

[Rocky Bhai]

So I got CB card in March .. Annual fee will be debited in April 2024 ri8? OK 👍
Till now my spend is 1.15 lacs. May cover milestone for waiver easily before that time.

Don't worry you still have 11 months to cover your 2L spends .
Even with 5k cashback per billing cycle you can easily recover your joining fee

 

[Rohith_Kumar_Sp]

Man I have hdfc millennia, Axis ace gpay and amazon pay icici. I was planning to get Sbi cashback, thank God I didn't!

 

[SiddharthR]

I hope Ace Shouldn't devalued again 🤞

Ye SBI ka devaluation to hona tha, and as far as I can understand, Ace won't devalue
https://www.technofino.in/community/threads/suggest-credit-card-for-below-usage.3014/post-54365

 

[Chaitanya-a]

This is such a market disrupting move (in a negative sense) by SBI. Probably the news of the year so far. The devaluation is across the categories leaving very less advantages. The premise of SBI CC made it like a must have card, specially with the FYF. SBI better be ready for mass closures in the 11th/12th month.

This is the real SBI. Wo bich me Axis bank ka product designer aagya tha.

 

[SiddharthR]

Amazon GC available on Paytm with 1% charges (inc. GST), and merchant name is "PAYTM ECOMMERCE NOIDA IN" which as of now gives 5% cashback with SBI Cashback Card. Please check MCC, if it's 5497 or not?
If it isn't, then party can still go on with 4% net charges...

@VISHESH_BANSAL

 

[Rocky Bhai]

Ye SBI ka devaluation to hona tha, and as far as I can understand, Ace won't devalue
https://www.technofino.in/community/threads/suggest-credit-card-for-below-usage.3014/post-54365

Baba Siddharth R aap ki Bhavishya wani sach nikli 🙏🙏😮 Charan sparsh karvao 🦶🙌
Its time for SBI to loot us now !!!

 

[jack333]

Magicpin, wohoo and zingoy also please check

 

[SiddharthR]

Baba Siddharth R aap ki Bhavishya wani sach nikli 🙏🙏😮 Charan sparsh karvao 🦶🙌
Its time for SBI to loot us now !!!

Lo bhakt 🦶
🤣

 

[Rocky Bhai]

Amazon GC available on Paytm with 1% charges (inc. GST), and merchant name is "PAYTM ECOMMERCE NOIDA IN" which as of now gives 5% cashback with SBI Cashback Card. Please check MCC, if it's 5497 or not?
If it isn't, then party can still go on with 4% net charges...

@VISHESH_BANSAL

By the way how to check mcc codes?

 

[VISHESH_BANSAL]

Amazon GC available on Paytm with 1% charges (inc. GST), and merchant name is "PAYTM ECOMMERCE NOIDA IN" which as of now gives 5% cashback with SBI Cashback Card. Please check MCC, if it's 5497 or not?
If it isn't, then party can still go on with 4% net charges...

@VISHESH_BANSAL

For my paytm Account, Paytm is not allowing me to use any Card except Debit Card for Amazon Pay and Amazon Shopping Vouchers.

Check Again.

 

[jack333]

We can check from axis mobile beta section under money the category of transaction

 

[rogerthat]

Well it is obvious that this was coming for a long time. But the timing is what nails it. A lot of people were waiting to use this card to pay school fees in May/June ☹️

 

[SiddharthR]

For my paytm Account, Paytm is not allowing me to use any Card except Debit Card for Amazon Pay and Amazon Shopping Vouchers.

Check Again.

I think it's patched now, can't use CC for that 😶