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

 

[Pujaari]

Is there anything restricting banks from changing the benefits offered at the time of launch?
Shouldnt there be some standard time period before which the benefits can't be revised? Isnt this a breach of trust?
Tommorow there can be a card launched offering 20% cashback and after a month retracting it back or halving it.
Shouldnt the annual fee /joining charges also proportionately reduced/refunded with change in offer?

Also ,Just curious to know if there has been any card/bank that has actually added more benefits after launch and not just devalued it

 

[TheMentalist]

Is there anything restricting banks from changing the benefits offered at the time of launch?
Shouldnt there be some standard time period before which the benefits can't be revised? Isnt this a breach of trust?
Tommorow there can be a card launched offering 20% cashback and after a month retracting it back or halving it.
Shouldnt the annual fee /joining charges also proportionately reduced/refunded with change in offer?

I guess there's a 30 day notice period before any changes can apply.. hence it's from 1st May instead of 1st April

 

[Pujaari]

I guess there's a 30 day notice period before any changes can apply.. hence it's from 1st May instead of 1st April

Agreed but when i sign up am generally paying a joining fee and annual charges and basing my choice on the benefits offered. The bank can offer me the moon for a month and then start giving me peanuts and there is nothing to stop them dojng that

 

[Akash Topder]

This is the biggest d*** move by SBI Card. They should atleast make the fee waiver 1L instead of 2L because now it's hard to hit 2L with those kind of devaluations.

 

[Patil007]

" CHAR DIN KI CHANDANI " 🙂

That’s why I took SBI BPCL card, best card 😜

 

[pprakash11]

That’s why I took SBI BPCL card, best card 😜

I kept on adding SBI CC in my portfolio.. Simply CLICK-> BPCL -> CASHBACK.

First two are LTF. Cashback is on God, will see the future 🤣

 

[jade]

Even after the devaluation SBI has good value. No credit card in India offers 5% cash back on online purchases regardless of the merchant . For utilities this card used to give 1%. There are better cards out there for utilities. I feel given that fee is 1000 + gst, lounge should have been there. Also the limit of rs 5000 cap is also fine with most people. ( one needs to spend rs 100000 online a month to reach that limit)

 

[jetmix]

Lol

View attachment 13126

 

[pprakash11]

I have SBI BPCL and Cashback cards. Cashback card bhagwan bharose hai and BPCL card ko LTF karne ka procedure bataiye ji 😜

Give closure request, they will call and offer LTF. But call just one month before renewal month, if you will call 5-6 months before renewal, they will not offer LTF.

 

[jack333]

I kept on adding SBI CC in my portfolio.. Simply CLICK-> BPCL -> CASHBACK.

First two are LTF. Cashback is on God, will see the future 🤣

Have you converted simplyclick and bpcl to LTF?

 

[bugmenot]

 

[pprakash11]

Have you converted simplyclick and bpcl to LTF?

Yes bro

 

[ccdc]

I used to make education payment to my own account through cred and accumulated 17k cashback till now 😀

Hmm...aise logo ki wajah se card ki band baja di SBI ne...ek ki wajah se puri kaum badnaam

 

[jack333]

Yes bro

Did you get both converted to LTF within short span only or separately?

 

[karankayastha]

I used to make education payment to my own account through cred and accumulated 17k cashback till now 😀

Wait doesn't cred charge extra on that? & sbi give 5% cb or 1%?

 

[pprakash11]

Did you get both converted to LTF within short span only or separately?

Separately. Both cards are 2 yrs old.

 

[Rahul Gupta]

Separately. Both cards are 2 yrs old.

Did you give closure request via app? and what did you write in reason?

 

[ccdc]

Is there anything restricting banks from changing the benefits offered at the time of launch?
Shouldnt there be some standard time period before which the benefits can't be revised? Isnt this a breach of trust?
Tommorow there can be a card launched offering 20% cashback and after a month retracting it back or halving it.
Shouldnt the annual fee /joining charges also proportionately reduced/refunded with change in offer?

Also ,Just curious to know if there has been any card/bank that has actually added more benefits after launch and not just devalued it

Lol...ppl abusing is also breach of trust...uska kuch nai...sirf bank hi galat hai..waah Bhai waah...

 

[Rohith_Kumar_Sp]

Even after the devaluation SBI has good value. No credit card in India offers 5% cash back on online purchases regardless of the merchant . For utilities this card used to give 1%. There are better cards out there for utilities. I feel given that fee is 1000 + gst, lounge should have been there. Also the limit of rs 5000 cap is also fine with most people. ( one needs to spend rs 100000 online a month to reach that limit)

What purchase? Literally everything is listed in exclusion lol

 

[pprakash11]

Did you give closure request via app? and what did you write in reason?

Low card usage, not required