SBI will modify the reward point rules from January 2023, as per its latest notice for credit cardholders. Thus to make the most out of your future purchases it is important to note the new rules.
With every tour ticket you book or shopping bill you pay, you get SBI credit card reward points that can be later on used as an alternative option to cash. Therefore, we suggest you read the changes incorporated by the State Bank of India which will be in effect from 6th January of this year.
What New Rules Apply to the Redemption of Vouchers from January 2023?
If you sincerely use credit cards to shop for essentials and save money in the process, then you should probably know the features of the SBI SimplyCLICK credit card. These cards involve very low processing and maintenance fees and provide rewards against purchases completed on various online platforms.
However, the SBI has introduced two new rules regarding the redemption of accumulated reward points for its credit card owners. These regulations apply to only SimplyCLICK cardholders. They are:
- From 6th January 2023, the SimplyCLICK credit card owners will not be allowed to club their accrued Cleartrip reward points with any other voucher to reduce the cost of a ticket purchase. Instead upon reaching the established milestone, they must use the collected reward points in a single transaction only.
- This modification applies to SimplyCLICK Advantage SBI credit cardholders too apart from the ones who have been issued the SimplyCLICK card. From 1st January 2023 you will be only awarded 5X reward points instead of the previously set 10X reward points for payments completed via the SimplyCLICK credit card on Amazon.
However, the State Bank of India has decided not to cut down the benefits for online purchases completed on BookMyShow, Apollo 24×7, EazyDiner, Lenskart, Netmeds, and Cleartrip.
How Can You Earn SBI Credit Card Reward Points?
The various methods through which you may become eligible for SBI credit card vouchers depend on the type of card you use. Here is a general guide that you may follow to get a brief idea:
- Visit the official website of the SBI card. Now, open the ‘Personal’ tab and navigate to the ‘Rewards’ page.
- Select the name of the credit card you currently own.
- Click to see the ‘Terms and Conditions’.
- Then comes the option ‘Shop-and-Smile’. Click on it.
- Click on the option ‘Points Earned/ Redeemed/ Accumulated’.
- Now you get to view the reward point system.
How to Redeem the Accrued Credit Card Reward Points?
It is crucial to know the redemption steps to ensure you make maximum savings while doing online shopping. The steps are, however, very simple, as mentioned below:
Step 1: Following the above section navigate to the ‘Rewards’ page of the SBI card website.
Step 2: Now choose the option to redeem SBI card points. You can accomplish this step either through a web interface or via the SBI mobile app.
If you face issues while encashing a voucher, you may connect with the SBI customer care service over the helpline at 18601801290 or 18001801290. They attend to the queries of SBI clientele 24×7 and are accessible both from mobile devices and landline dialling from any part of India.
What are Some SBI Credit Cards Offering Reward Points?
Now, that you already know how to redeem reward points accumulated through credit purchases, we have provided a list of SBI credit cards that deliver handsome rewards against each of your online purchases. These include:
SBI PRIME Card
On completing the purchase of essential commodities worth Rs. 100 you are awarded 20 reward points. Similarly for every Rs. 100 spent in a restaurant, movie ticket, or departmental store, you receive 10 points. While 2 reward points are also given for each Rs. 100 spent at a retail outlet.
Apollo SBI Credit Card
This card has gained widespread popularity as new cardholders get the benefit of 500 reward points as a signup bonus. Otherwise, they may also choose to avail Rs. 500 on joining. Besides this, you get 3 times more reward points for each Rs. 100 involved in an Apollo transaction and 2X points for every Rs. 100 billed at a restaurant or theatre.
OLA Money SBI Credit Card
If you use a cab service quite often for commute purposes, this credit card is perfect for you. Apart from getting 7% reward points upon each OLA ride you also receive 1% redeemable points for miscellaneous transactions.
SimplyCLICK Credit Card
As soon as your application is accepted for the SimplyCLICK card, you get an e-voucher from Amazon worth Rs. 500. Besides accumulating 1 reward point for every Rs. 100 transactions, you become eligible for 10X perks for shopping online in any of the partner platforms. These include brands like Netmeds, Cleartrip, BookMyShow, EazyDiner, Lenskart, Apollo 24×7, etc.
Upon using any of the above-mentioned cards you accumulate SBI credit card reward points that can be later on utilised for air mile conversion. For instance, you may apply for the Air India SBI Platinum card if you have collected a total of 5,000 points. However, to avail the offers faster you need to learn about the updated rules. Therefore this guide can prove to be helpful as it includes the new rules that will come to effect from January 2023.