SBI Card has announced changes to the reward point programme for select PhonePe SBI Credit Cards, which will come into effect from July 1, 2026. The revision impacts both PhonePe SBI Credit Card PURPLE and PhonePe SBI Credit Card SELECT BLACK card holders after new limits on reward point earnings and an expanded list of transactions that will no longer qualify for reward points have been introduced.PhonePe SBI Credit Card PURPLE and PhonePe SBI Credit Card SELECT BLACK card holders who frequently use their cards for categories such as insurance, utilities, education, jewellery purchases and toll payments are likely to see a change in their reward points accumulation.Changes for PhonePe SBI Credit Card PURPLE card holdersSBI Card will introduce monthly caps on reward points earned through various spending categories on PhonePe SBI Credit Card PURPLE from July 1, 2026.Previously, PhonePe SBI Credit Card PURPLE card holders could earn up to 1,000 reward points per month on eligible PhonePe spends and up to 1,000 reward points per month on eligible online spends. Under the new structure, the cap on eligible PhonePe spends has been divided into two categories: a maximum of 250 reward points per month can be earned on insurance-related spends and a maximum of 750 reward points per month on other eligible PhonePe transactions. For eligible online spends, the monthly reward points cap has been reduced from 1,000 to 750 reward points.The revised reward structure for PhonePe SBI Credit Card PURPLE will be as follows:Spend TypeExistingNewEligible PhonePe SpendsMax. 1,000 RPsMax. 250 RPs on Insurance Spends; Max. 750 RPs on Other SpendsEligible Online SpendsMax. 1,000 RPsMax. 750 RPsThis means that even if spending exceeds these limits, reward points will accrue only up to the prescribed monthly cap.Changes for PhonePe SBI Credit Card SELECT BLACKEarlier, PhonePe SBI Credit Card SELECT BLACK card holders could earn up to 2,000 reward points per month on eligible PhonePe spends and up to 2,000 reward points per month on eligible online spends. Under the new structure, the cap on eligible PhonePe spends has been split into two categories: a maximum of 500 reward points per month can be earned on insurance-related spends, while a maximum of 1,500 reward points per month can be earned on other eligible PhonePe transactions.For eligible online spends, the monthly reward points cap has been reduced from 2,000 to 1,000 reward points.The revised reward structure will be as follows:Spend TypeExistingNewEligible PhonePe spendsMax. 2,000 RPsMax. 500 RPs on insurance spends; Max. 1,500 RPs on other spendsEligible online spendsMax. 2,000 RPsMax. 1,000 RPsFor PhonePe SBI Credit Card SELECT BLACK holders, SBI Card has revised the reward points programme by expanding the list of transactions that will not earn reward points.New reward point exclusions for PhonePe SBI Credit Card SELECT BLACKIn addition to the existing exclusions, reward points will not be earned on the following categories:Toll and bridge paymentsGifts and souvenir purchasesJewellery purchasesPayments made to educational institutionsUtility payments made outside the PhonePe appInsurance payments made outside the PhonePe appUPI transactions made outside the PhonePe appThese exclusions will apply to both eligible cards as specified by SBI Card.Other benefits remain unchangedSBI Card has clarified that apart from the revised reward point caps and exclusions, all other card features and reward point accrual mechanisms will remain unchanged for PhonePe SBI Card PURPLE and PhonePe SBI Card SELECT BLACK card holders.