It appears that most news related to credit cards these days is about some sort of devaluation. Whether it is HDFC limiting lounge access, IndusInd devaluing its reward points, or American Express reducing the voucher value for RP redemptions, devaluation is all we hear. SBI Card has now joined the already long list of banks and card issuers.

Starting from 1st April 2024, SBI Credit Card holders will not be able to earn Reward Points for rent payments. The Merchant Code used for rental payments, which is 6513, will be excluded from the eligible transactions that earn Reward Points. This change will apply to various popular credit cards, including the entry-level SBI SimplySAVE UPI Rupay Credit Card and ultra-premium Aurum Credit Card.

After a recent update from SBI, rental payments made through co-branded SBI Credit Cards like Vistara cards will no longer earn any reward points from 15th April 2024.

Remember, customers shall be charged Rs. 199 + GST for rental payments made with SBI Credit Cards.

SBI Credit Cards Rental Payments Update

Which SBI Credit Cards Shall Be Affected?

The following credit cards shall not be awarded Reward Points for Rental Payments starting from 1st April 2024.

AURUM SBI Card Elite SBI Card Elite Advantage
SBI Card Pulse SimplyCLICK SBI Card SBI Card PRIME
SBI Card Platinum SBI Card PRIME Pro SBI Card Shaurya Select
SBI Card Platinum Advantage Doctor’s SBI Card Gold SBI Card
Gold & More SBI Card SimplySAVE SBI Card SBI Card Unnati
Shaurya SBI Card SimplySAVE Merchant SBI Card Doctor’s SBI Card (in association with IMA)

SBI Credit Cards Shall Be Affected

No Reward Points on SBI Co-Branded Credit Cards

Air India SBI Platinum Card Air India SBI Signature Card Aditya Birla SBI Card SELECT
Etihad Guest SBI Card Etihad Guest SBI Premier Card Club Vistara SBI Card
Club Vistara 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 Credit Cards Update

Also Read – Rent Payments With Credit Cards

Bottom Line

Recently, it was announced that Kotak Bank Credit Cards will now be subject to a higher fee on rental payments. Subsequently, SBI Credit Card has also decided not to offer any reward points on rental payments made through their credit cards. This decision is likely to have a significant impact on individuals residing in Tier 1 and Tier 2 cities who frequently make rental payments through their SBI Credit Cards.

In conclusion, we can say that after 15th Apri 2024, no SBI Credit Card shall be awarded Reward Points for rent payments. All of this is an indication that credit cards are becoming less rewarding with each passing day. Tell us your opinion on these recent credit card devaluations in the comments.

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