SBI and IDFC First Bank credit card users: Major changes coming April 1, 2025—What you need to know | Mint

As the new financial year sets in, a series of changes are going to take place for the credit card consumers in India, in particular the State Bank of India (SBI) and IDFC First Bank card consumers.

Now, on and from April 1, 2025, important changes are going to strike reward points, free cover insurance, and travel rewards along with associated services provided by these cards.

SBI Card overhauls: Blocked rewards and insurance cancellation

Effective from April 1, 2025, SBI Card will be completely overhauling its rewards program in a major way. ‘SimplyCLICK SBI Credit Card’ cardholders will experience exciting reward points dropping from 10X to 5X on Swiggy expenditures.

Further, the card, however, will still offer 10X rewards on spends done on portals like Myntra and BookMyShow. Additionally, Air India SBI Platinum Credit Card will reduce reward points from 15 to 5 for each ₹100 spent and Signature card from 30 to 10.

In another significant change, SBI Card has also withdrawn free insurance cover. From 26th July 2025, card holders will no longer get ₹50 lakh air accident cover or ₹10 lakh railway accident cover. These changes must be carefully scrutinised, read through and analysed by all the present and future aspirational users of SBI credit cards.

Further, it is always better to directly reach out to the customer support team of SBI credit cards through their official website if in doubt on issues such as EMI conversion, repayment terms etc., so as to get a clear resolution on any queries and lingering issues.

IDFC First Bank changes: Travel benefits phasing out

IDFC First Bank is also aiming to change certain significant terms and conditions with regards to card users. Vistara credit card Club Vistara members will no longer be receiving milestone benefits such as voucher tickets for premium economy and Club Vistara Silver Membership after 31 March 2025.

Further, even though customers will still be able to continue earning Maharaja Points up to 31 March 2026, the net value of such cards will be critically undermined.

Moreover, milestone vouchers for more expensive ticket prices of premium economy fares will not be issued. Members renewing their cards from now on will receive a one-year annual fee credit as compensation for the lost benefit.

These adjustments will ensure that regular users of credit cards and online shoppers reconsider their credit card use according to their credit scores, as several important value-added benefits are being eliminated. Elimination of free insurance and diminished rewards might even lead to diminished customer satisfaction and loyalty.

These changes will take effect from April 2025, and might even prompt cardholders to reconsider their options and compare other credit cards offering better rewards and coverage. For more details, most recent updates do visit the official websites of SBI Card and IDFC First Bank.

Disclaimer: The information provided is for informational purposes only. Credit card terms may change, and mismanagement can lead to high-interest debt and financial strain, please verify details with the issuing banks.