Starting November 1 and December 1, 2024, SBI Card is implementing key changes that will impact credit card transactions, especially for gaming and high-value utility bill payments. Here’s what you need to know:
1. No Reward Points on Digital Gaming Transactions
- Effective December 1, 2024, SBI Card users will no longer earn reward points on digital gaming-related purchases across 48 SBI credit cards, including popular cards like:
- AURUM
- SBI Card ELITE, PRIME, and Pulse
- SimplyCLICK SBI Card
- SimplySAVE SBI Card
- Shaurya Select SBI Card
- Co-branded cards with banks like Allahabad Bank, City Union Bank, Central Bank, and UCO Bank.
- If you frequently use your SBI credit card for gaming, consider this change to optimize your rewards strategy.
2. New Utility Bill Payment Surcharge
- Starting November 1, 2024, a 1% surcharge will apply to utility bill payments exceeding ₹50,000 per statement cycle through SBI credit cards.
- Payments below ₹50,000 will not incur this extra charge. Ensure to keep your utility payments within this limit to avoid the surcharge.
3. Increased Finance Charge on Unsecured Credit Cards
- From November 1, 2024, SBI will apply a 3.75% finance charge on all unsecured credit cards, excluding Shaurya/Defense Credit Cards.
- This update affects users who carry balances month-to-month. Aim to pay off dues within the statement period to minimize finance charges.
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Stay Updated and Be Prepared!
These changes will soon take effect, so adjust your payment strategies and review your credit card usage to avoid additional charges. Keep your transactions efficient, and stay informed on SBI credit card updates.