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

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BhaiyaJi

BhaiyaJi

TF Legend
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:

CategoryMerchant Category Code (MCC)
Jewelry5051, 5094, 5944, 7631
School & Educational Services5111, 5192, 5942, 5943, 8211, 8220, 8241, 8244, 8249, 8299, 8351
Utilities4814, 4900, 9399, 4816, 4899
Insurance Services5960, 6300, 6381
Card, Gift, Novelty & Souvenir Shops5947
Member Financial Institution/Quasi Cash6011, 6012, 6051
Railways4011, 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.


screenshot_2023-03-31-12-31-57-784_com-google-android-apps-docs-edit-jpg.13045
 

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Still can't post any new threads, so just trying to understand how the process works for the SBI Cashback card. Normally, I see the cashback amount credited as soon as the transaction moves from In Process to Settled on the app.

In this case, I made an online laptop purchase from a brand partner store because the cost was less compared to local as well as the official store and Amazon/Flipkart. This store uses PhonePe PG as the payment gateway for any card payments.

As of now, in the app, the transaction is displayed as "ING*FX MART PVT. LTD. WWW.PHONEPE.C IN" and I am wondering if SBI is considering this as a wallet transaction and hence the cashback amount is still 0. Will this change automatically a few days later to indicate the actual merchant?

I raised a ticket anyway but it is so frustrating to have to deal with uncertainty when making an online purchase on a new site.
 
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kn0w1 said:
Still can't post any new threads, so just trying to understand how the process works for the SBI Cashback card. Normally, I see the cashback amount credited as soon as the transaction moves from In Process to Settled on the app.

In this case, I made an online laptop purchase from a brand partner store because the cost was less compared to local as well as the official store and Amazon/Flipkart. This store uses PhonePe PG as the payment gateway for any card payments.

As of now, in the app, the transaction is displayed as "ING*FX MART PVT. LTD. WWW.PHONEPE.C IN" and I am wondering if SBI is considering this as a wallet transaction and hence the cashback amount is still 0. Will this change automatically a few days later to indicate the actual merchant?

I raised a ticket anyway but it is so frustrating to have to deal with uncertainty when making an online purchase on a new site.
Click to expand...
If it has settled and still zero, then it's under one of excluded categories.

ING*FX Mart is 4900 utility mcc.
Phonepe Com is 4814 utility mcc.

Yours is slightly different.
 
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Harry1 said:
If it has settled and still zero, then it's under one of excluded categories.

ING*FX Mart is 4900 utility mcc.
Phonepe Com is 4814 utility mcc.

Yours is slightly different.
Click to expand...
That is my understanding that they have somehow classified it under one of the excluded categories. However, it is a laptop purchase on an online website (partner brand store) using PhonePe as the payment gateway, so it is not excluded in any way as per their T&C.

I imagine I will have to keep escalating it till it is recognised as an ecommerce transaction, as I have the screenshot of their payment page as well as the invoice.
 
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kn0w1 said:
That is my understanding that they have somehow classified it under one of the excluded categories. However, it is a laptop purchase on an online website (partner brand store) using PhonePe as the payment gateway, so it is not excluded in any way as per their T&C.

I imagine I will have to keep escalating it till it is recognised as an ecommerce transaction, as I have the screenshot of their payment page as well as the invoice.
Click to expand...
Bro you can do whatever . All they will reply is mcc is not eligible . They will deny if mcc is excluded .
 
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I want to apply for cashback card. I have completed 90 days cool down period from date my first SBI card was issue. But I have 5 enquiries in past 1 month, and total 9 enquiries in past 3 months. Is it recommended to apply now or I should wait more time?
 
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Abhi2004 said:
Bro you can do whatever . All they will reply is mcc is not eligible . They will deny if mcc is excluded .
Click to expand...
Yeah, they first 2 levels of support didn't even respond and the principal nodal officer replied saying it was a utility payment under MCC-4899. Anyway, will escalate to customer service head and then also raise it with RBI ombudsman as I have nothing to lose, only 5k to gain.
 
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Recently applied for cc for education fee,after applying i learnt, it's not giving cb,
I tried to buy az egv in az, got msg card blocked.
I don't think i can spend 2L in 1 yr,
So if i close after 10 months, will i get any sbi cc in future?
Any effect on cibil?

Edit
is there any best way to spend 17k monthly?
Not interested in trading & money rotation
 
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I_AM_5RAV5 said:
Recently applied for cc for education fee,after applying i learnt, it's not giving cb,
I tried to buy az egv in az, got msg card blocked.
I don't think i can spend 2L in 1 yr,
So if i close after 10 months, will i get any sbi cc in future?
Any effect on cibil?
Or is there any best way to get cb?
Click to expand...
Buy monthly 1 lakh Amazon gv and resell at 1.5% to 2% off, if you know any trusted buyer.

or use Ebixcash wallet or QWtag wallet trick for bank transfer with some charges and earn approx 3% upto Rs3000 per month.
 
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I want your expert opinion on below,
i am planning to swipe my card on some car dealership. I will plan to swipe total 3-4 lakh spread across 1 or more credit cards. Is there any credit card which can give me cashback/points on this type of transaction?
 
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NikhilG said:
I want your expert opinion on below,
i am planning to swipe my card on some car dealership. I will plan to swipe total 3-4 lakh spread across 1 or more credit cards. Is there any credit card which can give me cashback/points on this type of transaction?
Click to expand...
Mid level cards : Axis Ace and FK , Kotak White , Tata Neu Infinity. 1.5-2%

HNI : Magnus , Infinia.

If you are into travel (miles) then Atlas is also good .

Also Stanc Ultimate.
 
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NikhilG said:
I hold hdfc millenia, icici amazon pay, sbi cashback, scapia and AU LIT. But this would be swiping a card on a car dealership so probably offline transaction
Click to expand...
icici amazon pay - 1% cb,
sbi cashback - 1% cb upto 5k
Other cards - idk

Normally car dealers will charge service charges for swiping credit card around 1.5% to 2.5%

Check before swiping..
 
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