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SBI Card changes credit card rules: How they affect you
16 Jun 2025

SBI Card has announced certain changes to its credit card terms and conditions in India, effective July 15, 2025.

The revisions will affect the calculation of billing and also remove complimentary air accident insurance benefits for customers.

The firm will change how it calculates the Minimum Amount Due (MAD) on credit card bills.

The new formula shall include the full amount of GST, EMI amounts, fees and charges, finance charges, overlimit amount, and 2% of remaining outstanding balance.

How payments will be adjusted now
Payment adjustments

Along with the MAD calculation, SBI Card will also revise how it allocates payments made by its customers.

The new sequence of adjustment will first cover GST, then EMIs, followed by fees and charges, finance charges, balance transfer amounts, retail spends, and cash advances.

This is a major shift in the company's billing process that could affect cardholders' future payments by potentially influencing how interest is calculated or how payments are prioritized.

Discontinuing complimentary air accident cover
Insurance changes

Along with the billing changes, SBI Card will also discontinue its complimentary air accident insurance.

The ₹1 crore cover presently offered on the SBI Card ELITE, SBI Card PULSE and SBI Card MILES ELITE will be withdrawn.

Likewise, the ₹50 lakh cover available on SBI Card PRIME and SBI Card MILES PRIME will also be discontinued from July 15.

HDFC Bank introducing new credit card charges too
Charge revision

In a similar vein, HDFC Bank will also revise certain credit card charges from July 1.

Customers spending more than ₹10,000 per month on online skill-based gaming platforms such as Dream11, Rummy Culture or MPL will be charged a 1% fee.

The charge will be levied on the total monthly gaming spend and capped at ₹4,999.

Notably, these transactions won't earn reward points either.

New charge for loading money into 3rd-party wallets
Wallet charges

HDFC Bank will also levy a 1% fee on credit card users loading over ₹10,000/month into third-party wallets such as Paytm or Mobikwik. The charge will be imposed on the total wallet-loading amount and capped at ₹4,999.