NO Reward Points on SBI Credit Cards: Major Update with credit card List

Updated August 25, 2024

SBI Card, one of India’s leading credit card issuers, has declared significant modifications to its reward points policy concerning rent payment transactions.

Effective from April 1, 2024, the accrual of reward points on rent payment transactions will be discontinued for several credit cards.

Furthermore, the accumulation of reward points on rent payment transactions for certain credit cards will cease on April 15, 2024.

Table of Contents

Reward Points on Rent Payments Discontinued

Effective Date: April 1, 2024
Changes: Reward points for rent payments will no longer accrue for certain SBI credit cards.
Deadline for Accumulation: April 15, 2024

Interest Calculation Method Update

Changes: SBI Card has updated its interest calculation method, affecting the Minimum Amount Due (MAD).
Inclusion in MAD:
Total GST
EMI amounts
100% of fees/charges
5% or 100% of finance charges (whichever is higher)
Retail spends
Cash advances
Any over-limit amounts

Other Notable Changes

AURUM Cardholders’ Benefit Change: AURUM cardholders will no longer receive the Rs. 5,000 coupon from RBL Luxe upon hitting the annual spend milestone of Rs. 5 Lakh. Instead, they will receive the voucher from Tata CLiQ Luxury starting from May 1st, 2024.

SimplyCLICK SBI Card Reward Point Adjustment: SimplyCLICK SBI Card and SimplyCLICK Advantage will now offer 10X Reward Points on Lenskart Online Purchases, reduced from 5X reward points, effective from April 1, 2024.

Processing Fee Increase: The processing fee per transaction for all SBI Credit Card transactions for Rent Payment has been increased to Rs. 199 + applicable taxes (previously Rs. 99 + applicable taxes) as of March 17, 2024.