Devaluation SBI Cashback credit card major devaluation wef 1st may 2023 | No more 10k cashback

[R!ppEr]

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.

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

sooo many exclusions!! bacha kya fir? xD

 

[Dragon_slayer]

So we wont get 5% cashback on Apay voucher from gyftr anymore? But we can still get it from directly purchasing from Amazon , right ?

 

[TechnoFino]

sooo many exclusions!! bacha kya fir? xD

🔔

So we wont get 5% cashback on Apay voucher from gyftr anymore? But we can still get it from directly purchasing from Amazon , right ?

Right

 

[NeerajNegi]

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:
1. Jewelry
2. School and Educational Fees
3. Utilities
4. Insurance
5. Railway
6. Card, Gift, Novelty & Souvenir Shops (Gift Cards, PPI etc)
7. 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.

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

wtf utilities removed hahahah

 

[aijaz21ahmad]

I think still hold good as against APAY and Flipkart card.
5K is something still good for regular use.

 

[aashokk09]

Will YONO GYFTR still give 5% cashback additional on purchasing gift cards? @TechnoFino pls clarify

 

[karankayastha]

I think still hold good as against APAY and Flipkart card.
5K is something still good for regular use.

Major blow is for Giftcards baki sab chalta hai

 

[Mritunjay]

I think it is still useful, need to spend 2 lacs and the annual fee will be waived, just need to find MCCs which still give 5% back.

 

[Dragon_slayer]

🔔

Right

Time to buy enough Apay vouchers for whole year

 

[iamabhisekagar]

Now I seriously hope my application gets rejected

 

[drakesri]

With recent trends of lower CL (20k-30K) and this devaluation. Nobody will be interested in this card post 1st May.

Those who are already holding can cancel before the card anniversary, thats what I am going to do anyway.

 

[jarunbalaji91]

Seriously in my opinion, this card is still worthy comparison to Amazon pay ICICI and Axis Flipkart card.
Removing the 1% CB from Insurance, Gift cards, Educational payments, Utilities ans railway is a considerable blow to the cards benefits.
But limiting the statement cycle cashback to 5000 rs is not a very big thing. Bcoz not more than 10% of card holders is gonna buy 1 lakh rupees of goods from online every month consistently.

Regarding Removing Lounge access should have been avoided. However may be SBI thinks to boost it's other cards like PRIME by removing Lounge access for this card.

 

[sahneracsam]

Has anyone confirmed that we will still get cashback if we purchase Amazon Pay GC from Amazon Gift card section and use it

 

[r_raghu]

So we wont get 5% cashback on Apay voucher from gyftr anymore? But we can still get it from directly purchasing from Amazon , right ?

What's the limit for buying Amazon GVs from Amazon and Gfytr in a day/month? I hope GVs from Amazon will still give the CB or else I am going to close this card near to the yearly fee payment.

 

[skvignesh]

No more Zero joining fees also.

Cashback SBI Card - Benefits & Features - Apply Now | SBI Card

Apply for Cashback SBI Card to enjoy privileges like flat 5% cashback, Airport lounge access, Fuel surcharge waiver and more. Check more about Cashback SBI Credit Card features, benefits and more.

www.sbicard.com

 

[Dhruvkumar]

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:
1. Jewelry
2. School and Educational Fees
3. Utilities
4. Insurance
5. Railway
6. Card, Gift, Novelty & Souvenir Shops (Gift Cards, PPI etc)
7. 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.

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

Maybe I'm missing something. Yes I bought good amount of vouchers and I wish party would be continued but it'll still give me 5% CB on most sites for goods. Now I raraly go above 1 lac in month so I don't have magnus. So why this card is become bad. Annual fees will get waived at 2 lacs which is easy for me

 

[akshayhs]

Maybe I'm missing something. Yes I bought good amount of vouchers and I wish party would be continued but it'll still give me 5% CB on most sites for goods. Now I raraly go above 1 lac in month so I don't have magnus. So why this card is become bad. Annual fees will get waived at 2 lacs which is easy for me

It's only bad for people who bled them dry. For all others it is still a decent card.

 

[AJ331]

hope its still 5% for insurance payments till April 30th? I have 1 payment to make before May 1st week

if its only 1% now I might just pay using Other SBI card where it is giving 300 flat cashback. Need to do it before 12 midnight

 

[Paritosh]

What's the limit for buying Amazon GVs from Amazon and Gfytr in a day/month? I hope GVs from Amazon will still give the CB or else I am going to close this card near to the yearly fee payment.

Amazon gv option is removed from Yono

 

[Paritosh]

Time to buy enough Apay vouchers for whole year

Amazon gv is not available in Yono. Any other way to purchase it?