SBI Card Rules: Monthly Caps and No Exemptions in Several Categories—SBI Cards Revises Rules; When Will They Take Effect?

If you use an SBI credit card, this news is crucial for you. SBI Card is making significant changes to the reward point programs of two of its popular credit cards. These new rules will come into effect on July 1, 2026. This move by the company may come as a bit of a setback for users who shop online extensively and accumulate reward points.

The company is modifying the reward point structure for the 'PhonePe SBI Credit Purple' and 'PhonePe SBI Credit Card Select Black'. Users of these cards will face a significant impact on transactions for insurance, utility bills (electricity/water), education (school/college fees), jewelry purchases, and toll payments.

What are the changes?
1. Monthly Capping Rule:

Until now, spending via the PhonePe app or other online platforms using these two cards (Purple and Select Black) has earned reward points without any upper limit. However, this will change starting July 1, 2026. The company is introducing a monthly cap on the reward points that can be earned; this means you will not receive any additional reward points for spending beyond a certain limit.

Previously, the Purple card offered up to 1,000 reward points, but this has now been split into two categories. Now, transactions made via PhonePe will earn 750 reward points, while expenses such as insurance payments will yield only 250 reward points.

Similarly, the reward point limit for the Select Black card was previously 2,000, which has now been divided into two categories. Insurance-related expenses will now earn 500 reward points, while other expenses made via PhonePe will earn 1,500 reward points.

2. Double Whammy for Select Black Card:

Challenges are set to increase further for 'Select Black' cardholders. In addition to the imposition of monthly limits, several transaction categories have been identified that will no longer earn any reward points. This means you will not derive any benefit from swiping your card or making online payments in these categories.

The excluded categories are:

Toll and bridge payments
Purchases of gift items and prepaid instruments
Jewelry purchases
Payments made to educational institutions
Utility payments made outside the PhonePe app
Insurance payments made outside the PhonePe app
UPI transactions made outside the PhonePe app

SBI Card has clarified that, apart from the revised reward point limits and specific exclusions, all other card features and reward point accrual processes for Purple and Select Black cardholders will remain unchanged.

If you hold either of these credit cards, you should review your reward point status before July 1, 2026. Additionally, carefully read the official notification from SBI expected in June to understand exactly which categories have been excluded. Plan your future shopping and payments accordingly to avoid any loss.

Disclaimer: This content has been sourced and edited from Dainik Jagran. While we have made modifications for clarity and presentation, the original content belongs to its respective authors and website. We do not claim ownership of the content.