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

 

[jade]

What purchase? Literally everything is listed in exclusion lol

Off course you cannot buy gift vouchers, but you can buy on Amazon, Flipkart, AJIO, Swiggy, Zomato, Ola, Uber, Big basket, Netmed, etc and you get 5% back.

 

[bugmenot]

What purchase? Literally everything is listed in exclusion lol

Still 5% cashback is there for any online product purchase atleast. Exclusion of gift card has shocked all of us.

It can be used for your

• grocery shopping
• garments & footwear
• medicines
• fashion accessories
• electronics purchase
• entertainment booking
• flight, bus, cab, hotel booking
• food orders/delivery
• subscription for ott/magazines

All these in online mode will continue to fetch 5%.

Many people are using it for B2B online shopping also.

 

[John Since]

Yes bro

When did you do this with both the cards?
Which month and year?

 

[desaik231]

Just thinking out loud for someone who has pther cards for lounge and still manages to spend 2L a year in categories other than that through organic spends card is still offering decent 5% CB right?

Or am I missing something here?

 

[Rohith_Kumar_Sp]

Off course you cannot buy gift vouchers, but you can buy on Amazon, Flipkart, AJIO, Swiggy, Zomato, Ola, Uber, Big basket, Netmed, etc and you get 5% back.

All of which I can already do with HDFC milliana card. What's the use if Sbi card?

 

[bhootradhesh]

What will be the alternative cards against this card with earlier benefits

Can anyone guide for good card on insurance like life and medical

 

[pprakash11]

When did you do this with both the cards?
Which month and year?

February 2023.
October 2022

 

[Pujaari]

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

Sir i am talking about all banks/cards in general. There is nothing stopping them to go back on promised benefits. I am totally with you on abuse of the benefits and totally against that. Banks/cards even without reducing the benefits can block/ban your cards for abuse and thats clearly stated in tnc. But genuine users have nothing to fall back on. Bank/card co. in a way is branding ever customer of its as a cheat by randomly reducing benefits There should be statutorily a provision to ensure the benefits for a lenth of time when a bank launches a new card.

 

[WhoU]

All of which I can already do with HDFC milliana card. What's the use if Sbi card?

Millennia has a list of inclusion, SBI cashback has a list of exclusions which are still not for core shopping.

Is your Millennia LTF? If not, close that and keep using SBI 🙂

 

[ccdc]

Sir i am talking about all banks/cards in general. There is nothing stopping them to go back on promised benefits. I am totally with you on abuse of the benefits and totally against that. Banks/cards even without reducing the benefits can block/ban your cards for abuse and thats clearly stated in tnc. But genuine users have nothing to fall back on. Bank/card co. in a way is branding ever customer of its as a cheat by randomly reducing benefits There should be statutorily a provision to ensure the benefits for a lenth of time when a bank launches a new card.

I agree genuine customers have to bear the brunt coz of few abusers...but how can you change that...unless they do something what paytm does..user specific for everything...wallet loads will be blocked for abusers and allowed for genuine with less transaction volume and similarly for all kinds of abusive spends.

 

[karankayastha]

B

Sir i am talking about all banks/cards in general. There is nothing stopping them to go back on promised benefits. I am totally with you on abuse of the benefits and totally against that. Banks/cards even without reducing the benefits can block/ban your cards for abuse and thats clearly stated in tnc. But genuine users have nothing to fall back on. Bank/card co. in a way is branding ever customer of its as a cheat by randomly reducing benefits There should be statutorily a provision to ensure the benefits for a lenth of time when a bank launches a new card.

Bro this move was meant to happen if majority of people start abusing its uses they will devalue same happened with RBL zomato card

 

[jade]

All of which I can already do with HDFC milliana card. What's the use if Sbi card?

SBI Card gets you 5% on more platforms. Moreover, the limit is 5000 on SBI cashback compared to 1000 on Milliinia

 

[m.o.n.k]

Dear Cardholder, benefits on your CASHBACK SBI Card will be revised w.e.f. 01 May'23. For details, click https://sbicard.com/CashbackCard - SBI Card

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. For more details and other Terms and Conditions, please visit sbicard.cd

Dear Cardholder, benefits on your CASHBACK SBI Card will be revised w.e.f. 01 May'23. For details, click https://sbicard.com/CashbackCard - SBI Card

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. For more details and other Terms and Conditions, please visit sbicard.com

Despite the restriction of ₹5000 cashback in a single billing cycle, which is still a good number, the long list of mcc exclusions and especially discontinuation of Lounge Access will have truly huge detrimental effect to use/apply this card, given Joining+Annual Fees is ₹999+GST.

 

[Rohith_Kumar_Sp]

Millennia has a list of inclusion, SBI cashback has a list of exclusions which are still not for core shopping.

Is your Millennia LTF? If not, close that and keep using SBI 🙂

Is Sbi cashback LTF? Most of the things you would use your card for online is bills, insurance, amazon shopping, ticket booking, or food orders. Sbi has already excluded bills or insurance or bookings, atlest millennia has option to buy voucher through smart buy and you'll get 1000 voucher for using 1L in a quarter which also removed annual fee. Does Sbi have any quarterly benifits?

 

[WhoU]

Is Sbi cashback LTF? Most of the things you would use your card for online is bills, insurance, amazon shopping, ticket booking, or food orders. Sbi has already excluded bills or insurance or bookings, atlest millennia has option to buy voucher through smart buy and you'll get 1000 voucher for using 1L in a quarter which also removed annual fee. Does Sbi have any quarterly benifits?

Now that you say this, I also think one more disadvantage of Cashback over Millennia - Millennia is eligible for instant discounts during sale but not Cashback.

Going to be a tough choice, I agree.

 

[John123]

SBI launched cashback card last year in the month of September without proper homework. And then we have utilized its benefits very well, like gift vouchers for utilities, etc.. Now they have devaluated within 6_ 7 months. So, What's the point of charging the renewal fees next year? This is like cashburn. How come they have sustained the business? I feel they will lose customers before one month of renewal fees. Then what's the whole point of attracting customers with first year free and giving them good benefits and then losing them before renewal month? That is funny.

 

[raniphore]

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

CRED charges extra but every month they have some offers which brings down the charge and also SBI gives 5% so it's a win-win scenario.

 

[raniphore]

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

No one here is as pure as a saint. Here everyone does money rotation from credit card.

 

[SiddharthR]

Now that you say this, I also think one more disadvantage of Cashback over Millennia - Millennia is eligible for instant discounts during sale but not Cashback.

Going to be a tough choice, I agree.

SBI is now worst for discount+cashback
Just gives discount, no rewards at all

 

[bugmenot]

SBI launched cashback card last year in the month of September without proper homework. And then we have utilized its benefits very well, like gift vouchers for utilities, etc.. Now they have devaluated within 6_ 7 months. So, What's the point of charging the renewal fees next year? This is like cashburn. How come they have sustained the business? I feel they will lose customers before one month of renewal fees. Then what's the whole point of attracting customers with first year free and giving them good benefits and then losing them before renewal month? That is funny.

They could have waited for one year and after charging renewal fee they could have released this bomb but i believe over abusing of card and huge cashburn led to this earlier devaluation and couldn't wait for a year.