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

 

[Wealth is my birth right!]

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.

Anyways our job is over I mean we sucked the card well
I am waiting for 3rd april to card statement post paying I will close it

 

[Shubham Mishra]

I was planning to pay for NPS tier 1, with this card. That will help me achieve annual fees waiver and an effective 1% cb will make up for convenience fees.
Will I still get 1% on NPS payment?

 

[John123]

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.

I agree

 

[Phonix_YT]

So now i guess , having a LTF HDFC millennia Credit is better than this.

 

[John123]

They should have devalued gift card purchases to 3% As many people will be benefitted by purchasing GC and then redeeming it in offline stores.

 

[karankayastha]

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.

ok how much money can we safely transfer? 5k would be good?

 

[Shyamd]

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

Bro If I buy Amazon gift vouchers from amazon with Millenia Card will i get 5% cashback with millenia card

 

[maverick]

Bro If I buy Amazon gift vouchers from amazon with Millenia Card will i get 5% cashback with millenia card

+1

 

[r_raghu]

I was planning to pay for NPS tier 1, with this card. That will help me achieve annual fees waiver and an effective 1% cb will make up for convenience fees.
Will I still get 1% on NPS payment?

I did that last week and it gave me 1%, not sure after these changes it will still give the same, please let me know if you get clarity on this.

 

[uchitshah]

After reading all the messages and critisism of sbi Cashback card. I would say I am still happy with this card.

1. Rs.5000 cashback cap. (Means we all can still do 1 lac of online shopping per month)
2. Gift card, jewellery, utility, school payment, is actually good, misuse of card gone.
3. Lounge access gone. I literally do not mind, i am very frequent flyer and the long Q for lonunge access, quality of food is pathetic, it is like free ka langar. Only people who fly once or for show off, this free lounge is for them. It better to spend few money and seat politely at some restaurant, I always do that, and I have free unlimited access card.

So as such in my day to day online shopping and even during offer period to buy expensive mobile, this card can easily fulfill your requirements.

 

[bugmenot]

Bro If I buy Amazon gift vouchers from amazon with Millenia Card will i get 5% cashback with millenia card

Yes Millennia gives 5% for GC bought on Amazon. Better to buy from amazon rather than smartbuy as it charges 1.25% + GST

 

[Rohith_Kumar_Sp]

After reading all the messages and critisism of sbi Cashback card. I would say I am still happy with this card.

1. Rs.5000 cashback cap. (Means we all can still do 1 lac of online shopping per month)
2. Gift card, jewellery, utility, school payment, is actually good, misuse of card gone.
3. Lounge access gone. I literally do not mind, i am very frequent flyer and the long Q for lonunge access, quality of food is pathetic, it is like free ka langar. Only people who fly once or for show off, this free lounge is for them. It better to spend few money and seat politely at some restaurant, I always do that, and I have free unlimited access card.

So as such in my day to day online shopping and even during offer period to buy expensive mobile, this card can easily fulfill your requirements.

I really want to know what online shopping you'll do for 1L. Amazon pay icici has unlimited 5%, hdfc has most of the Swiggy, zomatos uber types of 5%, plus smart buy where you can buy vouchers with 5% bonus, and has 1000 voucher for completing 1L in a quarter which also waivers the annual fee. Plus 1% for wallet loads.

Compared that to Sbi cb 999 annual fee with all these restrictions, it's better to use amazon pay or hdfc millennia

 

[Collector_sahab]

Now it's time for HDFC to axe its Millenia CC

 

[sandz]

I really want to know what online shopping you'll do for 1L. Amazon pay icici has unlimited 5%, hdfc has most of the Swiggy, zomatos uber types of 5%, plus smart buy where you can buy vouchers with 5% bonus, and has 1000 voucher for completing 1L in a quarter which also waivers the annual fee. Plus 1% for wallet loads.

Compared that to Sbi cb 999 annual fee with all these restrictions, it's better to use amazon pay or hdfc millennia

We can use SBI Cashback for 5% cashback from all online shopping. There is no headache in figuring out the merchant code or finding out whether the particular webcase is included or not. I personally don't buy vouchers and prefer to directly buy the item either from ecommerce sites or directly from the merchant if they provide online shopping. For such usages, I would say SBI Cashback card is better than HDFC Millenia.

 

[bonheur]

The fine print in this announcement is that earlier, the cap on accelerated rewards (4%) was 10k per month, while there was no upper limit on the 1% you could earn for everything else. After this devaluation, both accelerated and regular rewards are now capped at 5k per month, which is a shame.

As for me personally, I continue to see it as a decent complement to any top of the line premium card due to its generous 5% cashback on most genuine online purchases. The 1k annual fee isn't hard to recover and everything beyond that is pure profit.

 

[raniphore]

ok how much money can we safely transfer? 5k would be good?

Yeah u can transfer 5k easily.

 

[karankayastha]

Yeah u can transfer 5k easily.

Thank you bro

Yeah u can transfer 5k easily.

Can i do 10k what implications will it have on taxes?

 

[uchitshah]

We can use SBI Cashback for 5% cashback from all online shopping. There is no headache in figuring out the merchant code or finding out whether the particular webcase is included or not. I personally don't buy vouchers and prefer to directly buy the item either from ecommerce sites or directly from the merchant if they provide online shopping. For such usages, I would say SBI Cashback card is better than HDFC Millenia.

I 100% agree with you, sbi cashback is better then Amazon pay CC, Axis Flipkart CC and HDFC Millennium.

I used sbi cashback for online shopping, Axis Ace for offline shopping and Utility Payment. Best combination, majority of my transaction come under 5% cashback and few offline and restaurant payment under 2% Axis Ace Cashback.

I don't use lounge, as already explained is previous post, airport lounge are middle class langer. I don't wait like wait in Q for entry and all the rush.

Already received cashback of Rs 15,000 from sbi cashback only.

Already surrender my Amazon Pay and Axis Flipkart CC, as they are useless CC except for used in Amazon and Flipkart respectively.

 

[raniphore]

Thank you bro

Can i do 10k what implications will it have on taxes?

I had sent 1 lac to my friend via education payment on cred.

 

[jack333]

1st May, i will share a trick. how to earn 5% cashback upto 5000 on sbi cashback card per month. 😜😜

Bhai amazon se oder kar ke cancel kar do. Gives 5% cashback but takes back 1% i think. Try with small amount first. Though i never used the loophole monetarily