SBI Card announces reward point changes: How it affects you?
What's the story
SBI Card has announced major changes for its customers, with reward point changes effective September 1 and CPP migration starting September 16. The changes include revision in reward point benefits and automatic migration to new Card Protection Plan (CPP) variants. The company will stop giving reward points on digital gaming transactions and government payments made through certain cards. This change affects Lifestyle Home Centre SBI Card, Lifestyle Home Centre SBI Card SELECT, and Lifestyle Home Centre SBI Card PRIME variants.
CPP transition
Automatic migration to new CPP variants
From September 16, SBI Card will automatically migrate memberships under the CPP to new plan variants. The transition will happen on each customer's renewal date, ensuring there's no gap in coverage. The company has updated features and pricing for these revised CPP plans on its official website. Customers don't have to do anything for this migration process.
Additional modifications
Complimentary air accident insurance removed
SBI Card has also removed complimentary air accident insurance from several co-branded cards. The ₹1 crore cover has been withdrawn for UCO Bank SBI Card ELITE, Central Bank of India SBI Card ELITE, PSB SBI Card ELITE, KVB SBI Card ELITE, KVB SBI Signature Card, and Allahabad Bank SBI Card ELITE. A ₹50 lakh cover on other PRIME and Platinum co-branded cards with partner banks has also been discontinued.