Rewards to insurance: SBI, Axis Bank, IDFC change credit card terms

Lenders have announced new policies for ticket vouchers, renewal perks, milestone rewards

Credit card benefits will change from April 1 as major banks revise reward structures and customer perks. Card customers must study changes announced by State Bank of India (SBI), Axis Bank and IDFC First Bank to update their financial planning.

 

SBI Card

 

SBI Card has revised its reward points programme, updating terms of benefits for cardholders. The changes started in March and will continue in April and will reduce reward points for certain online transactions and travel-related purchases.

 

The changes apply to customers of SimplyCLICK SBI Card, Air India SBI Platinum Credit Card and Air India SBI Signature Credit Card. To make the most of their rewards, cardholders should be aware of these changes. Below is a detailed overview of the modifications.

 

Swiggy online spending: Effective April 1customers of SimplyCLICK SBI Card will see their reward points reduced from 10X to 5X on Swiggy transactions. However, the card will continue to offer 10X reward points on online purchases made through Apollo 24X7, BookMyShow, Cleartrip, Dominos, IGP, Myntra, Netmeds, and Yatra.  ALSO READ | Money changes in April: Impact on GST, credit cards & other transactions

 

Air India ticket purchases: From March 31, SBI Card has revised the accelerated reward benefits on Air India ticket purchases made through the airline’s website or mobile app.

 

Primary cardholders of the Air India SBI Platinum Credit Card will see a reduction from 15 reward points per Rs 100 spent to just 5 reward points.

 

Primary cardholders of the Air India SBI Signature Credit Card will experience a drop from 30 reward points per Rs 100 spent to 10 reward points.

 

Discontinuation of complimentary insurance coverage

 

In addition to the changes in the reward programme, SBI Card has also announced the discontinuation of complimentary insurance coverage for its cardholders. Effective from July 26:

 

The complimentary air accident insurance coverage of Rs 50 lakh will be discontinued.

 

The complimentary rail accident insurance coverage of Rs 10 lakh will be discontinued as well.

 

Axis Bank Vistara Credit Card Updates

 

Following the merger of Vistara with Air India, Axis Bank has announced revisions to its Vistara Credit Card, effective April 18, 2025. Cardholders renewing their cards on or after this date will benefit from the removal of annual charges, offering significant relief to many users.  ALSO READ | ATM withdrawals to cost Rs 23 per transaction beyond free limit from May 1

 

However, the card will no longer include complimentary memberships in the Maharaja Club tiers, eliminating some of the high-value benefits previously available.

 

IDFC First Bank

 

IDFC First Bank has announced that milestone benefits for its Club Vistara Credit Card were discontinued on March 31. While cardholders can continue earning Maharaja Points until March 31, 2026, the card is set to be phased out.

 

Additionally, Club Vistara Silver Membership will no longer be offered, and complimentary vouchers, including the Premium Economy Ticket and class upgrade vouchers, will be discontinued.