For the longest time, the SBICards Cashback Credit Card has been the simplest card on the market for earning cashback. Everything earned 5% in the online world. Now, however, new and significant restrictions are being applied to the card, effective April 1, 2026.
SBICards restructures the Cashback Card
From April 1, 2026, the maximum cashback that can be earned in a statement cycle on the Cashback Card will be capped at INR 4,000, down from INR 5,000. Second, there was no split of the limit on the card’s cashback earned within a month or a statement cycle. The structure hereon will be as follows:
- Online Spends: 5% cashback, capped at INR 2,000 per statement cycle
- Offline Spends (POS at Merchant Outlets): 1% cashback, capped at INR 2,000 per statement cycle
- Total Cashback per Statement Cycle: A maximum of INR 4,000
This means even if your eligible online spending generates more than INR 2,000 in cashback, you will only receive up to INR 2,000 from online transactions in a billing cycle. This implies that the card is useful for online spending only up to INR 40,000.
Additionally, the following categories will not earn cashback as of April 1, 2026, in addition to existing categories:
- Digital Gaming Platforms/Merchants (MCC Codes 7993, 7994, 5816)
- Tolls and Government-related Transactions (MCC Codes 4784, 9222, 9311, 9402)
Cashback was already not applicable on Merchant EMI and Flexipay EMI transactions and on the following categories: Utility, insurance, Fuel, Rent, Wallet, School & Educational Services, Jewellery, Railways.
Basically, two major changes have affected this card’s fan base. First, online spending is now capped at INR 40,000 to earn 5% Rewards. Blame the manufactured spenders for that. Secondly, there is now an exclusion of government-related transactions.
In this situation, the Axis Bank Cashback Card becomes a better alternative. You start with 2% Cashback up to INR 5,000. From there, you make 5% Cashback up to INR 40,000, and 7% cashback after that. Although the total cashback is still limited to INR 4,000 per month.
Bottomline
SBI Cashback Credit Card has imposed new sublimits on the cashback, effective April 1, 2026, under which you will be able to earn only up to INR 2,000 in cashback on online spending (5% cashback). Also, government spending, tolls, and digital gaming go out of the window when earning cashback.
What are you going to do in this case if you hold the SBI Cashback Card?
Apply for the Axis Bank Cashbank Card here
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