SBI Credit Card Updates: Revised Utility Payment Charges and Reward Policy Effective December 1

The State Bank of India (SBI) Card, a subsidiary of SBI, has announced new changes to its credit card policies, including utility payment surcharges and reward point rules. These updates will impact cardholders starting December 1, 2024. Here’s a detailed breakdown:

Utility Payment Fee for Transactions Over ₹50,000

SBI Card will introduce a 1% surcharge on utility bill payments exceeding ₹50,000 in a billing cycle.

• Key Details:

  • The fee applies to utility services such as electricity, water, gas, and other similar payments.

  • Payments below ₹50,000 in a billing cycle will remain exempt from this charge.

  • This builds upon the surcharge policy introduced in November 2024, targeting utility transactions.

This move is designed to streamline transaction charges while maintaining free transactions for lower spends.

Reward Points Policy Change for Digital Gaming

SBI Card will also discontinue reward points for spending on digital gaming platforms starting December 1, 2024.

• Key Changes:

  • Cardholders will no longer earn reward points on transactions made through digital gaming platforms or merchants.

  • This change affects a broad range of SBI credit cardholders, aiming to realign the rewards program to focus on other categories of spending.

Earlier Changes to SBI Credit Cards in 2024

SBI Card has made several updates throughout 2024, including the discontinuation of specific credit card products:

• Club Vistara SBI Credit Cards:

  • In September 2024, the issuance of new Club Vistara SBI Credit Cards and Club Vistara SBI Credit Card PRIME was stopped.

  • Existing cardholders can continue to use these cards without any changes to their terms.

Implications for SBI Credit Card Users

These updates indicate a shift in SBI Card’s focus, impacting users who frequently use their cards for high-value utility transactions or gaming-related expenses. Cardholders are advised to review their spending patterns to adapt to the new fee structure and reward policies effectively.