New Delhi, July 24 -- If you hold an SBI Credit Card, particularly one of its premium variants, there's an important update for you. With effect from July 15, SBI Card has discontinued free air accident insurance coverage up to Rs.1 crore for select credit cardholders Elite, Miles Elite and Miles Prime.

Apart from this, several key changes in payment settlement rules of this credit card as well as Minimum Amount Due (MAD) calculations will also come into effect. These changes will impact the premium users the most, especially those who rely on SBI's credit card insurance benefits and flexible repayment terms.

Let us understand more about what has changed and how it may affect you.

So far, select SBI credit cardholders (Elite, Miles Eli...