SBI Cashback Credit Card Devaluation – ₹4,000 Cap & Fresh Spend Exclusions Announced

For a long time, the SBI Cashback Credit Card has been considered one of the best credit cards in the country. Many even called it the “king” of cashback cards. The card had remained largely untouched for years, except for the earlier removal of airport lounge access. However, that is now changing. From 1st April 2026, the SBI Cashback Credit Card will be devalued.

This comes as disappointing news for many cardholders, as the card was known for offering straightforward cashback, especially on online spends.

Starting 1st April 2026, the card will offer 5% cashback on online spends capped at ₹2,000 per statement cycle, and 1% cashback on offline spends capped at ₹2,000. Earlier, cardholders could earn up to ₹5,000 cashback per statement cycle, making it one of the most rewarding cards for online shopping. The new structure significantly reduces the overall earning potential.

In addition to the revised caps, cashback will no longer be applicable on spends made on digital gaming platforms, toll payments, and government-related transactions, as these categories have now been added to the exclusion list.

Maximum Cashback Reduced from ₹5,000 to ₹4,000

The earlier cashback limit of ₹5,000 per statement cycle for both online and offline spends will be removed from 1st April 2026. Cardholders will now follow a revised structure, where the total cashback is capped at ₹4,000 per statement cycle.

New List of Exclusions

While the change in the cashback structure itself is significant, the issuer has also added new exclusions to the already long list of transactions that do not earn cashback. The following shall not be eligible for cashback earnings with the SBI Cashback Credit Card.

• Digital Gaming Platforms/Merchants
• Tolls
• Government Related Transactions

Check Complete Notification

Bottom Line

Some credit cards almost feel too good to be true, and the SBI Cashback Credit Card was definitely one of them. It offered benefits that went beyond expectations. However, all of that is set to change from 1st April.

To be honest, the move is not entirely surprising. The card had become extremely popular among users and was offering cashback on a wide range of spends, even tax payments. At some point, a revision felt inevitable.

That said, the extent of the cut is what stands out. While a devaluation was expected, reducing the online cashback cap from ₹5,000 to ₹2,000 feels quite steep and will significantly impact heavy online spenders.