BIG Change For SBI Card Users! Late Payment Fees, Waiver Rules Revised For Credit Card Users

SBI Card Brings New Changes: SBI Card users are set to face fresh changes related to credit card payment fees and waiver rules in May. SBI Card has implemented credit card rule changes, which came into effect from May 1. Additionally, some other updates related to late payment charges, etc, also came into effect from this month.

Key SBI Card Changes Effective In May

SBI Card will now levy Rs 100 when the outstanding due is more than Rs 100 and up to Rs 500 under the revised structure for late payment charges. However higher outstanding ranges will continue to draw larger penalties based on the updated slab-wise schedule shared online.

SBI Card Late Payment Charges And BPCL SBI Credit Card Fee Rules

The company has kept its stance clear on recovery of dues and default reporting. Reminders and follow-ups for pending payments can be sent through letters, phone calls, SMS, emails and authorised third-party agencies, which must follow defined debt collection conduct guidelines while dealing with SBI Card customers.

SBI Card Reward Point Scheme

SBI Card, in April, introduced fresh changes related to the reward points programme. From April 1, SBI Card put a monthly redemption ceiling of 60,000 reward points when used as a statement credit. Additionally, credit card users must place only in blocks of 4,000 points each, which will limit how balances can be converted.

Change	Effective date	Key details
Late payment charges	May 1	₹100 fee when dues are above ₹100 and up to ₹500; higher slabs revised
BPCL SBI Credit Card fee waiver	May 1	₹499 annual fee waived only on yearly spends of ₹1 lakh, earlier ₹50,000
Reward points redemption	April 1	60,000 points per month cap for statement credit; redeem in multiples of 4,000

Some cards are not covered by these new reward rules, with SBI Card listing the Air India SBI Signature Card, PhonePe SBI Card PURPLE and PhonePe SBI Card SELECT BLACK as exclusions, and also updating timelines for when reward points from promotional campaigns will lapse if not redeemed in time by cardholders.

Taken together, the revised late payment charges, stricter BPCL SBI Credit Card fee waiver, clarified recovery practices, and tighter reward point redemption rules show SBI Card aligning its systems and customer communication with these detailed schedules and conditions from April 1 and May 1 onwards.