Key Changes in SBI Card Benefits

SBI Card has issued an alert to credit card users, announcing changes to the reward points program on its co-branded cards launched with PhonePe. The revised structure applies to the PhonePe SBI Credit Card PURPLE and PhonePe SBI Credit Card SELECT BLACK. The new limits on reward points will come into effect from July 1, bringing notable reductions in monthly reward caps for both online and app-based transactions.

For the PhonePe SBI Credit Card PURPLE, the earlier benefit of earning up to 1,000 reward points each on PhonePe spends and other online transactions has been revised. Insurance bill payments via PhonePe will now earn a maximum of 250 points per month, while other transactions will be capped at 750 points. Similarly, online transaction rewards have been reduced from 1,000 to 750 points. In the case of the premium SELECT BLACK card, reward caps have also been lowered. PhonePe insurance payments will now fetch 500 points, and other spends will earn up to 1,500 points per month. Online rewards have been cut from 2,000 to 1,000 points. Additionally, categories such as toll payments, gift purchases, gold buying, education payments, and utility or insurance transactions made outside PhonePe will no longer be eligible for reward points.