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Business News/ Companies / News/  SBI Card slashes reward points rules on online spending, but there's a catch
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SBI Card slashes reward points rules on online spending, but there's a catch

The SBI-backed company has slashed accrual reward points on online spends at Amazon to 5X reward points effective from January 1st.
  • However, customers will continue to accrue 10X Reward Points on online spends on other portals.
  • At SBI Card, reward points accumulated on your credit card account can be redeemed in two ways i.e. through the website and mobile application. (MINT_PRINT)Premium
    At SBI Card, reward points accumulated on your credit card account can be redeemed in two ways i.e. through the website and mobile application. (MINT_PRINT)

    SBI Cards, the pure-play credit card company has decided to revise its reward points rule from next month. The SBI-backed company has slashed accrual reward points on online spends at Amazon to 5X reward points effective from January 1st, while the company has announced that Cleartrip vouchers to be redeemed in a single transaction and cannot be clubbed with any other offer or voucher with effect from January 6th of 2023.

    As per the notice on its website, SBI Card said, "with effect from January 6, 2023, the Cleartrip voucher issued to SimplyCLICK Cardholders on reaching online spend milestone should be redeemed in a single transaction only and cannot be clubbed with any other offer/ voucher."

    Further, SBI Card's notice stated that "acrual of 10X Reward Points on online spends at Amazon.in with SimplyCLICK/SimplyCLICK Advantage SBI Card will be revised to 5X Reward Points with effect from 01 Jan’23."

    However, customers will continue to accrue 10X Reward Points on online spends at Apollo 24X7, BookMyShow, Cleartrip, EazyDiner, Lenskart & Netmeds.

    Also, last month, effective from November 15, the company raised its processing fee on all merchant EMI transactions to 199 plus applicable taxes from earlier 99. Also, the processing fee of 99 is now being levied on all Rent Payment transactions.

    At SBI Card, reward points accumulated on your credit card account can be redeemed in two ways i.e. through the website and mobile application.

    To redeem credit card reward points from the website, the following steps need to be followed:

    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 the item of your choice

    Step 4- Click on “Redeem now" and confirm.

    For redeeming reward points via the mobile app, the following are the steps:

    Step 1- Login to SBI Card mobile app.

    Step 2 -Click on “Rewards" on the left-hand side and click on “Redeem Rewards"

    Step 3 - Browse through the Rewards Catalogue and “select" the reward items of your choice

    Step 4 -Click on “Redeem" and confirm.

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    Published: 06 Dec 2022, 03:32 PM IST
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