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SBI cashback card benefits revised w.e.f 1st may 2023

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SBI cashback card benefits revised w.e.f 1st may 2023

Dear Cardholder, benefits on your CASHBACK SBI Card will be revised w.e.f. 01 May'23. For details, click https://sbicard.com/Cashba...rd - 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:
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 forintimation/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
Category Merchant Category Code (MCC)
Jewelry
School & Educational Services
Utilities
Insurance Services
Card, Gift, Novelty & Souvenir Shops
Member Financial Institution/Quasi Cash
5051, 5094, 5944, 7631
5111, 5192, 5942, 5943, 8211, 8220, 8241, 8244,
8249, 8299, 8351
4814, 4900, 9399, 4816, 4899
5960, 6300, 6381
5947
6011, 6012, 6051
Railways 4011, 4112

Expired
Disclaimer
We are not SEBI/IRDA registered. The information provided herein is for education purposes only. We will not be responsible for any of your profit/loss with this channel's suggestions. Consult your financial advisor before making any decisions.
Top Comments
Deal Subedar Deal Subedar
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Banks typically indicate the MCC (merchant category code) of merchants who do not qualify for reward points or cashback. However, Normal credit card users may not be able to identify a merchant's MCC prior to making a payment. Therefore, it would be helpful if the MCC was displayed on the OTP page for customer convenience.

The RBI should consider the importance of customers knowing the MCC of a merchant before making a payment. We suggest that all banks display the MCC of the merchant on the OTP page for online transactions. For offline merchants, the MCC could be displayed on the POS machine, which would be visible to customers.

For the convenience of their customers, it is recommended that HDFC_Bank, the largest private sector bank in India, along with the top three credit card issuers, SBI Card, ICICIBank and Axisbank, step forward and implement this.

Deal Lieutenant Deal Lieutenant
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TanhaDiL wrote:

I really wonder now after removal of 'utilities' as well..


AAKHiR BACHA KYAA??


Translation: Is there literally any usage which'll fetch 5% CB?

Depends on your usage.

I can still use it for (unless some other better >5% cc offer) :
  • online medicine purchases. 
  • Ajio
  • Forex txns
  • Lenskart
  • OTT payments
  • Amazon/ FK/ Myntra/ Zomato/ Swiggy/ Uber/ Ola etc etc etc..
Too long to list the useful Places to for this card.

Also your major gripe seems to be the removal of "utilities", it was already giving just 1%, I wonder why in the first place were you using this card on utilities for just 1%.
Deal Subedar Deal Subedar
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At least SBI has learnt to implement guidelines now, maybe after RBI pressure, proper PDF and 30 days gap is given for this change. 

Before SBI used to give general common T&C link, now link to a PDF like Axis does. 

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Post Tycoon Post Tycoon
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There we go guys, major change is capping has been reduced to 5000 per month.Screenshot20230331-123328

Deal Cadet Deal Cadet
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Recieved SMS from SBI, as per that : 

  • Gift Cards are not eligible from may 1st 2023 for any Cashback benefit.
  • Cashback is Capped at 5000 per Month ( max spend for 5% is 2Lakh per month) 
  • no Cashback on Railways ( irctc website) and no cashback on Utilities payment for Specific MCC code. 
  • No Cashback on Purchase of gold ( previously 1%)

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

Screenshot2023-03-31at12.33.37PM

Deal Cadet Deal Cadet
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Just got the message.. looks They reduced cb to 5k now.

Deal Newbie Deal Newbie
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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:

Jewelry
School & Educational Services
Utilities
Insurance Services
Card, Gift, Novelty & Souvenir Shops
Member Financial Institution/Quasi Cash
Railways

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.
Deal Subedar Deal Subedar
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Here it is, from 1st may, sbi card devaluation applicable.

Max cashback per month reduced to 5,000 per month.
No points for Jewellery, Education, Utilities, Insurance, Gifts, Cards, Railways.
Earlier we still got 1% instead of 5% for same.

Screenshot20230331123213Drive

Deal Subedar Deal Subedar
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Now we need another cashback category thread 😅. Utilities is okay, it was anyway 1%. Railway and Education fee is also understandable.

But Who knows what all this Card, Gift, Novelty & Souvenir Shops mcc of 5947 means😅.

Deal Cadet Deal Cadet
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1st Phase: Cashback capped at 5000 rs. Domestic lounge deactivated. Gyftr gift cards, prepaid cards are discontinued. Jewelleries, utility, insurance, railways 0% cashback. 

Cards misuser can be reported to SBI online portal. They will be banned with immediate effect.


Deal Cadet Deal Cadet
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Now Cashback is also capped at 5000

Commentator Commentator
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SBI cashback card revised benefits from May 1st 2023


No cashback for Jewellery, School and Educational Services, Utilities, Insurance Services, Gift Card, Novelty Shops, Financial Institutions and Railways

Cashback per month limited to Rs.10000 to Rs. 5000 per month
No more joy

Screenshot2023-03-31-12-32-36-85e2d5b3f32b79de1d45acd1fad96fbb0fWhat everyone feel?
My huge miss was jewellery purchase and education payments.
Firestorm Firestorm
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I was going to post it

Post Tycoon Post Tycoon
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@admin please merge all threads into this, too many devaluation discussions.

Generous Generous
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Screenshot20230331-123843
Cool Cool
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Just hoping that Amazon GC will earn 5%

Firestorm Firestorm
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No where it's written gyft gift cards. Also its from 1st May 23.

Deal Cadet Deal Cadet
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catchchirag wrote:

Now Cashback is also capped at 5000

Thanks , Updated the Post.
Deal Captain Deal Captain
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At least we have a month to loot wink wink
Deal Subedar Deal Subedar
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Starting from 1 May 2023

Deal Newbie Deal Newbie
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Major devaluation..cashback capped at 5000. No cashback on Eduction fees and giftcard

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

Picsart23-03-3112-37-20-860

- SBI Card

SBI Cashback credit card major devaluation! 🚨
Full details- 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.
Deal Subedar Deal Subedar
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How we can get maximum benefits of Cashback on various types of transactions?

Entertainer Entertainer
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No cashback means not even 1% ? Or just the higher 5%

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