SBI Card has announced that accrual of reward points on rent payment transactions will be discontinued for certain credit cards effective from April 1, 2024. Further, the accumulation of reward points on rent payment transactions for certain credit cards will end on April 15, 2024.
Also read: RBI amends these debit card, credit card rules: What card holders should know
Also read: You can soon choose from multiple card networks; when it comes into effect, who is not eligible
List of SBI Credit Cards where Reward Points will not be applicable on Rent Payments w.e.f. 01 Apr’24
- AURUM
- SBI Card Elite
- SBI Card Elite Advantage
- SBI Card Pulse
- SimplyCLICK SBI Card
- • SimplyCLICK Advantage SBI Card
- SBI Card PRIME • SBI Card PRIME Advantage
- SBI Card Platinum • SBI Card PRIME Pro
- SBI Card Shaurya Select • SBI Card Platinum Advantage
- Doctor’s SBI Card • Gold SBI Card
- Gold Classic SBI Card
- Gold Defense SBI Card
- Gold & More Employee SBI Card
- Gold & More Advantage SBI Card
- Gold & More SBI Card
- SimplySAVE SBI Card
- SimplySAVE Employee SBI Card
- SimplySAVE Advantage SBI Card
- Gold & More Titanium SBI Card
- SBI Card Unnati • Shaurya SBI Card
- SimplySAVE Pro SBI Card
- Krishak Unnati SBI Card.
- Vyapaar Unnati SBI Card
- SimplySAVE Merchant SBI Card
- Doctor’s SBI Card (in association with IMA)
- SimplySAVE UPI SBI Card
- SIB SBI Platinum Card
- SIB SBI SimplySAVE Card
- KVB SBI Platinum Card
- KVB SBI Gold & More Card
- KVB SBI Signature Card
- Karnataka Bank SBI Platinum Card
- Karnataka Bank SBI SimplySAVE Card
- Karnataka Bank SBI Card PRIME
- Allahabad Bank SBI Card Elite
- Allahabad Bank SBI Card PRIME
- Allahabad Bank SBI SimplySAVE Card
- City Union Bank SBI Card PRIME
- City Union Bank SimplySAVE SBI Card
- Central Bank SBI Card Elite
- Central Bank SBI Card PRIME
- Central Bank SimplySAVE SBI card
- UCO Bank SBI Card PRIME
- UCO Bank SimplySAVE SBI Card
- UCO Bank SBI Card Elite
- PSB SBI Card Elite
- PSB SBI Card PRIME
- PSB SBI SimplySAVE
List of SBI Credit Cards where Reward Points will not be applicable on Rent Payments w.e.f. 15 Apr’24
- Air India SBI Platinum Card
- Air India SBI Signature Card
- Aditya Birla SBI Card SELECT
- BPCL SBI Card OCTANE
- IRCTC SBI Card Premier
- Fabindia SBI Card SELECT
- Etihad Guest SBI Card
- Etihad Guest SBI Premier Card
- Club Vistara SBI Card
- Club Vistara SBI Card PRIME
- Lifestyle Home Centre SBI Card
- Lifestyle Home Centre SBI Card SELECT
- Lifestyle Home Centre SBI Card PRIME
- Fbb StyleUp SBI Card
- Central SBI Card
- Central SBI Card SELECT
- Nature’s Basket SBI Card
- Nature’s Basket SBI Card ELITE.
SBI Card: How to redeem credit card reward points online
Step 1- Login to sbicard.com
Step 2- Click on “Rewards” and then click on “Redeem Rewards”.
Step 3- Browse through the Rewards Catalogue and choose item of your choice
Step 4- Click on “Redeem now” and confirm.
Other changes effective in March
According to the SBI card website on interest calculation, “Minimum Amount due shall be Total GST + EMI amount + 100% of Fees/Charges + 5% of [Finance Charge (if any) + Retail Spends and Cash Advance (if any)] + Overlimit Amount (if any)
From 15th March 2024, In case 5% of (Finance Charge + Retail Spends and Cash Advance) is less than Finance Charges then MAD calculation will be Total GST + EMI amount + 100% of Fees/Charges + 100% of Finance Charges + Overlimit Amount (if any).”
Credit card rule changes of other issuers
Axis Bank credit card changes from March 5, 2024
Every rental transaction will be subject to a rent surcharge fee of 1%, with a ceiling of Rs 1500. Taxes will be applicable as notified by Government of India. For any international transaction using Indian currency at an international location or Indian currency transactions involving Indian merchants registered in a foreign country, a Dynamic Currency Conversion (DCC) markup fee of 1% plus taxes will be charged.
Also read: New credit card rules 2024: Know changes to credit card rules of SBI Card, ICICI Bank, Axis Bank
ICICI Bank credit card changes from April 1, 2024
According to the ICICI Bank website, “Starting Apr 01, 2024, you can enjoy One complimentary airport lounge access by spending Rs. 35,000 in the preceding calendar quarter. Spends made in the preceding calendar quarter will unlock access for the subsequent calendar quarter. To be eligible for complimentary lounge access in Apr-May-Jun, 2024 quarter, you need to spend a minimum of Rs.35,000 in the January-February-March 2024 quarter and similarly for following quarters.”
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