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

 

[VISHESH_BANSAL]

Cashback SBI Card DEVALUED

 

[tbk]

This makes the card alot less compelling,

I feel general rule of thumb only ecomm purchases of physical items will give 5% rest no cb and the withdrawal of lounge access is major bummer given that they charge 1000+gst for the card.

 

[TheMentalist]

https://www.sbicard.com/sbi-card-en/assets/docs/pdf/tnc/tnc-Cashback-Card-Revision.pdf

It's from 1st May, not April

 

[bugmenot]

Exclusion of Card, Gift, Novelty & Souvenir Shops [5947] seems to be affecting Gyftr and other GC portals.

RIP Amazon Pay GC

Copied from DD

 

[jack333]

No more 5% on train tickets, insurance payments on amazon and education fees

 

[BhaiyaJi]

@TheMentalist I have fixed the title, thanks for pointing out the mistake 🙏

 

[Hrraj]

Party over Bois

 

[Chaitanya-a]

C. Complimentary Domestic Airport Lounge benefit will be discontinued. For more details and other Terms and Conditions, please visit sbicard.com

Woah 😂 Zero complimentary lounge on ₹1k annual charge card. Brilliant move by SBI to make this card kachra.

I was thinking 1 complimentary lounge is less for this 1k card and here they've removed even that one.

 

[Rocky Bhai]

Only 5k cb from may now 🥺. So no more 5% from gyftr?
And what if we buy agv from Amazon do we get 5%

 

[jack333]

Is 5947 mcc for offline stores or yono gyftr also? @VISHESH_BANSAL

 

[jack333]

Only 5k cb from may now 🥺. So no more 5% from gyftr?
And what if we buy agv from Amazon do we get 5%

Through amazon it will give i think

 

[John Since]

Hello everyone,
SBI Card has announced major benefit change for its cashback credit card.
You'll not get any cashback for the following categories -
Jewelry
School and educational fees
Utilities
Insurance

Gift cards?

 

[SaiyamK]

Already similar thread present

SBI cashback card devaluation from 1st May

https://www.sbicard.com/sbi-card-en/assets/docs/pdf/tnc/tnc-Cashback-Card-Revision.pdf

www.technofino.in

 

[VISHESH_BANSAL]

Is 5947 mcc for offline stores or yono gyftr also? @VISHESH_BANSAL

Right for Gyftr txns at any Platform like Smartbuy GYFTR or SBI YONO GYFTR ,
GYFTR is tagging Correct MCC 5947.

Avoid Txns from GYFTR for purchasing gift cards from Cashback SBI Card.

 

[John Since]

Hello everyone,
SBI Card has announced major benefit change for its cashback credit card.
1. You'll not get any cashback for the following categories -
Jewelry
School and educational fees
Utilities
Insurance
Gift Cards, PPI
Railway

View attachment 13072
2. Maximum cashback for all online and offline spends will be capped at Rs. 5000 per statement cycle.

3. No complimentary domestic airport lounge access.

In my opinion, SBI Card just want every cashback card holder to close their card. I mean, they just killed this card. No point of holding this pies of plastic by paying Rs. 1000 aplnnual fees.

My major purchases are insurance through gift cards only. Now i will be closing this card.

 

[BhaiyaJi]

@VISHESH_BANSAL How did you figure out the MCC code from the transactions list ?

 

[VISHESH_BANSAL]

Through amazon it will give i think

All depends upon MCC. I will check which MCC Amazon is tagging for gift card purchases , and then Update here

 

[vaibhav111]

what is going , from 5 min , I'm just deleting and resolving this thing, we get it sbi cb is devalued not making thread on them guys

 

[ramirami]

Woah 😂 Zero complimentary lounge on ₹1k annual charge card. Brilliant move by SBI to make this card kachra.

I was thinking 1 complimentary lounge is less for this 1k card and here they've removed even that one.

I think they know what they are doing. The main appeal of this card is the 5% CB on online txns, not the lounge etc. With a 5% reward rate, I wonder how many people will care about the airport lounge access.