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

 

[yolofino]

Chaliye SBI Cashback card ko Vannakkam

 

[ak93]

And now when so many important categories have been removed from 5% Cashback, it is making lot more difficult to digest the fees of this card.
₹500 would have been better after this revision.
I'm now glad my application got rejected because of their agents greed 😂

My application is still under process, i may probably get it after May 1st 😂

 

[Jatin1987]

Greetings everyone,

SBI Card has recently announced significant alterations to its cashback credit card benefits effective from 1st may, 2023
The changes are as follows:

1. There will be no cashback available for the subsequent categories: Jewelry, School and Educational Fees, Utilities, Insurance, Railway, Card, Gift, Novelty & Souvenir Shops and Member Financial Institution/Quasi Cash.

2. The maximum cashback for both online and offline expenditures will be limited to Rs. 5000 per statement cycle.

3. There will be no free access to domestic airport lounges.

View attachment 13072

In my view, these changes imply that SBI Card intends to prompt cashback cardholders to cancel their cards. It seems like they have effectively rendered the card useless. There is no incentive to hold onto this piece of plastic while paying an annual fee of Rs. 1000.

PDF Link (official) - https://www.sbicard.com/sbi-card-en/assets/docs/pdf/tnc/tnc-Cashback-Card-Revision.pdf

Exactly. Now this card will become useless from 1st May 2023.

SBI removed all the main catagories where a user intends to get cashback.

Most devaluated Card i think

 

[Jatin1987]

Greetings everyone,

SBI Card has recently announced significant alterations to its cashback credit card benefits effective from 1st may, 2023
The changes are as follows:

1. There will be no cashback available for the subsequent categories: Jewelry, School and Educational Fees, Utilities, Insurance, Railway, Card, Gift, Novelty & Souvenir Shops and Member Financial Institution/Quasi Cash.

2. The maximum cashback for both online and offline expenditures will be limited to Rs. 5000 per statement cycle.

3. There will be no free access to domestic airport lounges.

View attachment 13072

In my view, these changes imply that SBI Card intends to prompt cashback cardholders to cancel their cards. It seems like they have effectively rendered the card useless. There is no incentive to hold onto this piece of plastic while paying an annual fee of Rs. 1000.

PDF Link (official) - https://www.sbicard.com/sbi-card-en/assets/docs/pdf/tnc/tnc-Cashback-Card-Revision.pdf

Exactly. Now this card will become useless from 1st May 2023.

SBI removed all the main catagories where a user intends to get cashback.

Most devaluated Card i think

 

[kushhh]

I can not do Txns of Rs.1 every where just to check MCC

If I have Genuine Spends at any Particular Merchant then only I can verify.

If you can please do check of Cred Education payments

 

[sasha]

Till 1st may will it give 5% on LIC premium.

 

[SiddharthR]

Till 1st may will it give 5% on LIC premium.

No, 1%
5% only if paid from Amazon Pay eGC

 

[raniphore]

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

 

[yolofino]

My application is still under process, i may probably get it after May 1st 😂

Don't worry, then will call you 20+ times before approval, just tell them to cancel or block their calls

 

[jayvirrathi]

Exactly. Now this card will become useless from 1st May 2023.

SBI removed all the main catagories where a user intends to get cashback.

Most devaluated Card i think

Yes, now many users will close this card.
or users have to keep multiple cards axis ace or axis Flipkart.

 

[Abhishek012]

@Abhishek012 must be happy now he complained it lot on twitter 🤣

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

 

[ak93]

Don't worry, then will call you 20+ times before approval, just tell them to cancel or block their calls

Their process makes no sense to me. Atleast 5 csr have called me to confirm my application details. And this is after physical kyc was done. What is the purpose of kyc if we have to confirm the details again and again over call?

On top of that, another executive came to my home today for physical verification. 😂

 

[jack333]

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

Ise dhyan se dekh lo. Isi ke karan devalue hua hai 🤣

 

[Arnal07]

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

bro, are there any extra charges for education payment with sbi cashback cc?

 

[VISHESH_BANSAL]

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

Why on 1st May, Share it now.
May be SBI Card forgot to exclude some MCCs

Help SBI Card in advance to exclude remaining MCCs also.
May be you can get a Cash Reward from SBI Card Twitter Team for Helping SBI Card in identifying remaining MCCs

 

[G M]

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

I just did.. thanks..will i get 5 cb till May 1?

 

[jack333]

Sbi people have studied the most common mcc on which people have earned cashback for last 6 months and excluded them

 

[pandyag]

Just got the card 2 days back.😂

 

[BhaiyaJi]

Can someone please explain how to figure our MCC of a transaction done on SBI cashback cards?

 

[pprakash11]

He wants only RuPa and not any cash reward.

IDFC HPCL "RUPAY SELECT" 😂