With the beginning of the new financial year 2025-26, several banking and financial rules are set to change. Among these, major modifications have been announced for State Bank of India (SBI) and IDFC First Bank credit cardholders. From April 1, 2025, these changes will directly impact customers' reward points, benefits, and insurance covers.
Let's take a detailed look at these upcoming modifications.
SBI has announced several adjustments in its credit card reward system and benefits:
Reduced Reward Points for SimplyCLICK Swiggy Card:
Currently, customers earn 10X reward points on Swiggy transactions.
Starting April 1, this will be reduced to 5X reward points.
Air India Signature Credit Card Rewards Cut:
Existing reward points on Air India Signature credit card will drop from 30 to just 10.
This means that frequent travelers using this card will earn fewer miles and benefits on their Air India bookings.
Discontinuation of Free Insurance Coverage:
From July 26, 2025, SBI will remove the free insurance benefits provided with some credit cards.
The following insurance covers will no longer be available:
₹50 lakh (₹5 million) Air Accident Insurance
₹10 lakh (₹1 million) Railway Accident Cover
These changes will significantly affect SBI credit cardholders, especially those who frequently use Swiggy and Air India services.
IDFC First Bank has also announced major changes in its Club Vistara Credit Card benefits:
Discontinuation of Club Vistara Silver Membership & Vouchers:
From March 31, 2025, cardholders will no longer receive Club Vistara Silver Membership or free flight vouchers.
Reduction in Maharaja Points Value:
Customers will still be able to earn Maharaja Points on their transactions, but the redemption value will be lower.
These points can be used until March 31, 2026.
Removal of Milestone Vouchers for Premium Economy Tickets:
Milestone vouchers that allowed customers to redeem premium economy tickets at lower costs will be discontinued.
Annual Fee Credit for Renewals:
Customers who renew their Club Vistara card will receive one year’s annual fee credited back as compensation for lost benefits.
Review Your Credit Card Usage: If you frequently use SBI or IDFC First Bank credit cards for Swiggy, Air India, or Club Vistara benefits, you may need to reconsider your options.
Check for Alternative Cards: If you rely on these benefits, explore other credit cards that provide better rewards on dining, travel, or insurance coverage.
Redeem Your Points Before Devaluation: IDFC First Bank customers should use their Maharaja Points before March 31, 2026, as their value will decrease.
Contact the Banks for Clarification: Visit the official websites of SBI Cards and IDFC First Bank to get more details about the changes.
These changes in SBI and IDFC First Bank credit cards will impact many customers, especially frequent travelers and online shoppers. The reduction in reward points, removal of free insurance, and discontinuation of certain membership benefits make it crucial for users to rethink their credit card strategy for the coming year.
Would you like recommendations for alternative credit cards with better travel and dining rewards? Let me know! 🚀
